Wall Street Journal vs New York Times [Compared]

While there isn’t a true 100% non-biased newspaper, there are some that are highly factual and accurate, such as the Wall Street Journal and the New York Times

Let’s see how does WSJ vs NYT compare.

Wall Street Journal vs New York Times Comparison table:

Wall Street JournalNew York Times
Target AudienceAffluent, college graduates, investors, maleAffluent, college graduates, urban, male/female
Average Age4340
Liberal or ConservativeSlightly ConservativeSlightly Liberal
Owned byDow Jones & Company, division of News Corp.The New York Times Company
Credibility ratingHIGHHIGH
Pulitzer prizes won37132
Number of journalists20001700
Number of subscribers2.83 million5.5 million
Cost of SubscriptionBetween $8 and $40 per monthBetween $2 and $12 per month

The main difference between New York Times and Wall Street Journal lies mostly in their occasional political nudge towards the conservative or liberal. Both papers are highly credible, and reliable, and this nudge is usually very small and exists mostly in the editorial section. 

Why is Wall Street Journal Good?

Wall Street Journal vs New York Times

The Wall Street Journal brings a lot of factual information to the general public, great financial information, and they cover the world news very well. They accurately present daily news on financial markets, and they do quality investigative journalism.

If you want to stay informed on finance or how to be a successful investor then WSJ could be one of your main sources of this information. It’s a pretty good news source even if you have no interest in investing. Though if you’re looking for specific topics about a stock or an ETF, then Barrons is better. And if you’re a beginner, take a look at the best finance books for beginners.

Wall Street Journal is one of the most objective news sources, except for the occasional editorial piece regarding science. Stories aren’t sensationalized, and they present facts that are well reported. 

It’s a highly factual news source, and not just for finance, but for business as well. You’ll get timely alerts on all major events that might affect the economy and life in general. Perfect for all current and future entrepreneurs looking to become successful in their business.

Why is New York Times Good?

The New York Times is one of the most popular newspapers in the US, giving factual and credible information. NYT tries to be neutral, openly admits, and corrects mistakes in the “Corrections” section. They are journalism at its best, except for the occasional editorial piece.

Just like the WSJ, the NYT is the paper of record, which means that its editorial and news-gathering functions are considered highly authoritative, or serve as a newspaper of public record.

The New York Times has a good reputation among journalists and fact-checkers, but just like the WSJ, you’ll get an occasional miss, usually in the editorial section and opinionated articles.

Target Audience of Wall Street Journal vs New York Times

The target audience of the Wall Street Journal is mostly the affluent part of society, college-educated, business leaders, and active investors. The target audience of the New York Times is the urban audience in general, college graduates, and the affluent.

A study from 2012 showed that 71% of the WSJ audience were male, 29% female, and 56% were college graduates. The majority of the WSJ readers (38%) had $75k+ of yearly income.

Another research study from 2014 found that 41% of the WSJ audience is primarily liberal, 24% mixed, and 35% mostly conservative.

The same study showed the percentage of the male audience for the NYT to be 56%, while 44% were female. Similarly, 56% were college graduates, with 41% of readers earning at least $75k. This is probably due to the majority of readers living in the NY metropolitan area, which is more expensive than the rest of the country.

A Pew Research Survey from 2014 showed that the New York Times audience skews to the left, with 65% of the audience being primarily liberal, 23% mixed, and only 12% having conservative views.

What Is the Reader Average Age of WSJ vs NYT?

According to Dow Jones, the reader average age of the Wall Street Journal is 43, with 62% of readers being male and 38% female. 

A study from 2012 by the Pew Research Center showed that the majority of readers of WSJ belonged to the group aged 30-49, about 40% of them, with about 24% being aged 18-29, 19% being 50-64 and 15% are 65+ years of age. Statista reports similar ranges in 2022.

The same study showed the average age of the New York Times readers to be around 40 years of age, with 32% of readers aged between 18-29, 31% between 30-49, 21% were 50-64 old, and 12% are 65+ years of age.

Is the Wall Street Journal Liberal or Conservative?

Wall Street Journal is the conservative equivalent of the New York Times. News reporting is excellent and factual, but editorial decisions skew right in a noticeable way, which makes them a bit conservative.

By looking at the MBFC bias rating we can see the WSJ is right-centered (Conservative):

Source: Media Bias / Fact Check

Therefore, Wall Street Journal is slight to moderately conservative in bias, especially regarding the editorial page. Paul A. Gigot is the editor of this page, and also a VP of the WSJ. He is also a conservative political commentator for Fox News Channel. However, they still consider WSJ mostly factual.

In another source from the Media Bias Chart at AllSides.com we can see that WSJ News is centered but also leans slightly toward the right:

Source: AllSides Media Bias Ratings

What Political Party Does the NY Times Support?

The New York Times is close to the center as far as the political spectrum goes, but the NYT editorial is leaning to the left. The NYT looks at the issues from a progressive perspective, which makes the New York Times slight to moderately liberal.

According to the NYT MBFC bias rating, NYT is left-centered:

Source: Media Bias / Fact Check

Media Bias Fact Check reports that the New York Times often publishes factual information that may use loaded words to favor liberal causes. However, they consider NYT generally trustworthy highly factual.

In another source from the Media Bias Chart at AllSides, we can see that the New York Times News leans to the left, while The New York Times Opinion is all the way to the left:

Source: AllSides Media Bias Ratings

Who Owns the Wall Street Journal and the New York Times?

The Wall Street Journal is owned by Dow Jones & Company, which is a division of News Corp. with Rupert Murdoch as Executive Chairman and Robert James Thomson as CEO. On the other hand, The New York Times is owned by The New York Times Company, with A. G. Sulzberger as Chairman and Meredith Kopit Levien as the President and CEO.

How Do I Know if a Source Is Credible?

One of the best ways of having a more complete viewpoint of a certain story is to consume multiple sources and news and to know that all of them are at least slightly sensationalized for ratings. Then, investigate what they cite and source.

There are several websites you can use to check the bias of the news article, and whether the news source is credible or not:

  • This website can check Media Bias, where they have a chart that can help you determine where the newspapers are leaning on the political spectrum. 
  • Another similar site to check bias on a resource. They re-check sources and update their graphs if the sources change.
  • Similarly, Media Bias Fact Check is a great site to learn not only the political side but also the general bias of the newspapers.

Difference between a Newspaper article and a Scholarly article

There are some key differences between a newspaper article and a scholarly article

In the magazine or a newspaper, the author is typically a journalist or a layperson who isn’t a scholar or a professor specialized in the field. The article is usually without any bibliography references cited or peer-reviewed, with content that isn’t specialized and made for the general public.

A scholarly article is made for scholars and researchers by an expert that is specialized in the field. The content is backed by research with a bibliography cited that is peer-reviewed and tested.

Is the Wall Street Journal Credible?

Media Bias Fact Check reports that the WSJ is considered mostly factual rather than high due to anti-science and anti-climate views, and occasional misleading editorials. Their factual reporting score is ‘mostly factual’, which means WSJ is credible but has low scientific credibility.

The WSJ is considered a highly reliable resource when it comes to financial information.

The Wall Street Journal bias rating is right-center which means they lean somewhat toward Conservative. Just like with the NYT, this should be taken into account while reading their news reporting and editorial page.

It’s important to note that the Wall Street Journal never failed a fact check regarding news reporting, however, there have been found numerous inaccuracies in regards to the Climate Feedback and Health Feedback in the WSJ editorial department.

Is the Wall Street Journal a scholarly source?

The Wall Street Journal is not a scholarly source, despite having the word “journal” in the title. It is a daily magazine intended to be read by the general public, with content that is usually written without peer-reviewed sources. 

However, WSJ is a newspaper of record, which means that it has high authority, especially in terms of business and financial news.

This doesn’t mean that the Wall Street Journal isn’t credible, just that it shouldn’t be used in a research paper without being backed up by proper peer-reviewed references.

Is the New York Times Credible?

Media Bias Fact Check reports that NYT is one of the most reliable sources due to proper sourcing and well-respected journalists and editors. However, they often fail fact checks on Op-Eds. Their factual reporting score is very high, which means that NYT is credible.

The New York Times bias rating is left-center, which means they lean somewhat toward Liberal. Take that into account when considering the factuality of their sources.

The NYT has been shown to have made false claims in reporting but has always made corrections to the stories as soon as the new information became available. Their Op-Ed pages have numerous failed fact checks. (Source 1 – mostly false, Source 2 false)

Even so, The New York Times is still considered generally trustworthy and highly factual.

Is New York Times peer-reviewed?

Just like the Wall Street Journal, the New York Times isn’t a scholarly source nor is it peer-reviewed, so be careful when using it in a research paper without proper references from peer-reviewed sources. 

However, this doesn’t mean the New York Times isn’t credible, but just like in the case of the WSJ, all the information should be fact-checked and backed up by proper sources.

How Many Pulitzer Prizes Have WSJ and NYT Won?

The Wall Street Journal has won 37 Pulitzer Prizes, with the last one being in 2019, while the New York Times has won 132 Pulitzer Prizes, the most of any newspaper. The last one was in 2021.

How Many Reporters Do the WSJ and NYT Have?

The Wall Street Journal has a global staff of around 2,000 journalists across 51 countries. On the other side, The New York Times has a staff of about 1,700 journalists from more than 160 countries.

How Many People Read the WSJ and NYT Daily?

The WSJ daily print readership is at about 1 million, while the digital is at 1.83 million, making the Wall Street Journal daily readership a total of 2.83 million. On the other hand, the New York Times has around 5.5 million news subscribers, with 4.7 million being digital-only and 831 thousand in print.

Cost of Subscription to WSJ vs NYT

The New York Times is a much more affordable option than the Wall Street Journal.

The cost of the Wall Street Journal subscription ranges between $8 and $38.99 (plus tax) depending on the type of your subscription and any discounts in place, while the cost of the New York Times subscription is only about a few dollars per month.

If you don’t have the money to pay for a subscription for WSJ or NYT, you could become a member of your nearest public library, where the membership may come with free access to some prominent and reputable newspapers.

Wall Street Journal vs New York Times – Which Is Better?

If you value factual and timely information, especially on finance, business, and the economy in general – then Wall Street Journal is your best bet. If you value papers that report factual information, but also correct themselves if they make an error, and cover science more reliably, then the New York Times is probably the better choice for you.

Author

  • Hi, I'm the founder of HowMonk.com! Having been in finance and tech for 10+ years, I was surprised at how hard it can be to find answers to common questions in finance, tech and business in general. Because of this, I decided to create this website to help others!