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The differences between summer analysts and analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a summer analyst and an analyst. Additionally, an analyst has an average salary of $73,007, which is higher than the $66,837 average annual salary of a summer analyst.
The top three skills for a summer analyst include strong analytical, financial statements and capital markets. The most important skills for an analyst are customer service, troubleshoot, and data analysis.
| Summer Analyst | Analyst | |
| Yearly salary | $66,837 | $73,007 |
| Hourly rate | $32.13 | $35.10 |
| Growth rate | 9% | 11% |
| Number of jobs | 44,912 | 253,138 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 80% | Bachelor's Degree, 67% |
| Average age | 40 | 44 |
| Years of experience | 4 | 4 |
Summer analysts are people who undertake an internship within a banking institution. These professionals perform analyses of detailed financial and corporate information. They establish statistical exhibits analyzing comparative financial performance. It is their responsibility to create models illustrating projected financial results, which is of great value to the companies. The skills necessary for this job include knowledge of financial statements, equity, portfolio companies, and financial models. They should also develop due diligence, strong communication, asset allocation knowledge, and attention to detail.
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.
Summer analysts and analysts have different pay scales, as shown below.
| Summer Analyst | Analyst | |
| Average salary | $66,837 | $73,007 |
| Salary range | Between $43,000 And $102,000 | Between $53,000 And $99,000 |
| Highest paying City | - | Jersey City, NJ |
| Highest paying state | - | New Jersey |
| Best paying company | - | The Citadel |
| Best paying industry | - | Technology |
There are a few differences between a summer analyst and an analyst in terms of educational background:
| Summer Analyst | Analyst | |
| Most common degree | Bachelor's Degree, 80% | Bachelor's Degree, 67% |
| Most common major | Finance | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between summer analysts' and analysts' demographics:
| Summer Analyst | Analyst | |
| Average age | 40 | 44 |
| Gender ratio | Male, 72.5% Female, 27.5% | Male, 52.4% Female, 47.6% |
| Race ratio | Black or African American, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% 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 | 7% | 12% |