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The differences between summer analysts and research analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a summer analyst, 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 $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 a research analyst are data analysis, data collection, and research projects.
| Summer Analyst | Research Analyst | |
| Yearly salary | $66,837 | $70,232 |
| Hourly rate | $32.13 | $33.77 |
| Growth rate | 9% | 19% |
| Number of jobs | 44,912 | 81,374 |
| Job satisfaction | - | 4.5 |
| Most common degree | Bachelor's Degree, 80% | Bachelor's Degree, 70% |
| Average age | 40 | 37 |
| Years of experience | 4 | 6 |
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.
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.
Summer analysts and research analysts have different pay scales, as shown below.
| Summer Analyst | Research Analyst | |
| Average salary | $66,837 | $70,232 |
| Salary range | Between $43,000 And $102,000 | Between $45,000 And $107,000 |
| Highest paying City | - | Seattle, WA |
| Highest paying state | - | Washington |
| Best paying company | - | The Citadel |
| Best paying industry | - | Finance |
There are a few differences between a summer analyst and a research analyst in terms of educational background:
| Summer Analyst | Research Analyst | |
| Most common degree | Bachelor's Degree, 80% | Bachelor's Degree, 70% |
| Most common major | Finance | Business |
| Most common college | University of Pennsylvania | University of Georgia |
Here are the differences between summer analysts' and research analysts' demographics:
| Summer Analyst | Research Analyst | |
| Average age | 40 | 37 |
| Gender ratio | Male, 72.5% Female, 27.5% | Male, 50.8% Female, 49.2% |
| 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, 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 | 7% | 10% |