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The differences between research associates and research analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 1-2 years to become a research associate, becoming a research analyst takes usually requires 4-6 years. Additionally, a research analyst has an average salary of $70,232, which is higher than the $60,166 average annual salary of a research associate.
The top three skills for a research associate include patients, research projects and data analysis. The most important skills for a research analyst are data analysis, data collection, and research projects.
| Research Associate | Research Analyst | |
| Yearly salary | $60,166 | $70,232 |
| Hourly rate | $28.93 | $33.77 |
| Growth rate | 17% | 19% |
| Number of jobs | 63,884 | 81,374 |
| Job satisfaction | - | 4.5 |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 70% |
| Average age | 38 | 37 |
| Years of experience | 2 | 6 |
A research associate is responsible for assisting the research team, organizing and interpreting findings, and verifying information before presenting the study to the board. Research associates duties also include gathering and comparing data from multiple sources, analyzing the current industry trends, creating draft outlines for reports, collecting individual contacts for interview purposes, and helping with the development of research procedures. A research associate must have excellent time-management skills and ability to multi-task, especially on meeting strict deadlines and conducting studies.
A research analyst is responsible for providing a company with insights and advice concerning finance, investments, and expenditures. Utilizing their analytical skills and extensive expertise in marketing, they analyze the trends and significant factors to conclude which decision should be the best to make. They can also take part in conducting an in-depth analysis of a business and examine which areas require improvement or has potential. Furthermore, they may work with a company or independently as a freelance analyst.
Research associates and research analysts have different pay scales, as shown below.
| Research Associate | Research Analyst | |
| Average salary | $60,166 | $70,232 |
| Salary range | Between $41,000 And $87,000 | Between $45,000 And $107,000 |
| Highest paying City | Worcester, MA | Seattle, WA |
| Highest paying state | Massachusetts | Washington |
| Best paying company | The Citadel | The Citadel |
| Best paying industry | Finance | Finance |
There are a few differences between a research associate and a research analyst in terms of educational background:
| Research Associate | Research Analyst | |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 70% |
| Most common major | Biology | Business |
| Most common college | Harvard University | University of Georgia |
Here are the differences between research associates' and research analysts' demographics:
| Research Associate | Research Analyst | |
| Average age | 38 | 37 |
| Gender ratio | Male, 50.8% Female, 49.2% | Male, 50.8% Female, 49.2% |
| Race ratio | Black or African American, 8.5% Unknown, 6.0% Hispanic or Latino, 15.2% Asian, 16.6% White, 52.6% American Indian and Alaska Native, 1.0% | Black or African American, 4.7% Unknown, 4.9% Hispanic or Latino, 11.3% Asian, 14.3% White, 64.7% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 8% | 10% |