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The differences between senior research analysts and analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a senior research analyst, becoming an analyst takes usually requires 2-4 years. Additionally, a senior research analyst has an average salary of $75,056, which is higher than the $73,007 average annual salary of an analyst.
The top three skills for a senior research analyst include analytics, data analysis and data collection. The most important skills for an analyst are customer service, troubleshoot, and data analysis.
| Senior Research Analyst | Analyst | |
| Yearly salary | $75,056 | $73,007 |
| Hourly rate | $36.08 | $35.10 |
| Growth rate | 19% | 11% |
| Number of jobs | 71,891 | 253,138 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 67% |
| Average age | 37 | 44 |
| Years of experience | 6 | 4 |
The duties of a senior research analyst depend on one's line of work or industry of employment. Typically, their responsibilities revolve around coordinating with different departments to gather necessary data, performing research and analysis to identify consumer and market needs, finding new business opportunities, and devising strategies to optimize workflow and workforce processes. Furthermore, as a senior research analyst, it is essential to lead and encourage the team members and serve as a mentor to junior analysts, all while implementing the company's policies and regulations.
Analysts are employees or individual contributors with a vast experience in a particular field that help the organization address challenges. They help the organization improve processes, policies, and other operations protocol by studying the current processes in place and determining the effectiveness of those processes. They also research industry trends and data to make sound inferences and recommendations on what the company should do to improve their numbers. Analysts recommend business solutions and often help the organization roll out these solutions. They ensure that the proposed action plans are effective and produce the desired results.
Senior research analysts and analysts have different pay scales, as shown below.
| Senior Research Analyst | Analyst | |
| Average salary | $75,056 | $73,007 |
| Salary range | Between $57,000 And $98,000 | Between $53,000 And $99,000 |
| Highest paying City | Olympia, WA | Jersey City, NJ |
| Highest paying state | Washington | New Jersey |
| Best paying company | JPMorgan Chase & Co. | The Citadel |
| Best paying industry | Finance | Technology |
There are a few differences between a senior research analyst and an analyst in terms of educational background:
| Senior Research Analyst | Analyst | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Georgia | Northwestern University |
Here are the differences between senior research analysts' and analysts' demographics:
| Senior Research Analyst | Analyst | |
| Average age | 37 | 44 |
| Gender ratio | Male, 54.1% Female, 45.9% | Male, 52.4% Female, 47.6% |
| Race ratio | Black or African American, 4.7% Unknown, 4.9% Hispanic or Latino, 11.2% Asian, 14.1% White, 65.0% American Indian and Alaska Native, 0.1% | Black or African American, 7.4% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.3% White, 65.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 10% | 12% |