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The differences between bank analysts and associate 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 bank analyst and an associate analyst. Additionally, a bank analyst has an average salary of $85,532, which is higher than the $68,161 average annual salary of an associate analyst.
The top three skills for a bank analyst include powerpoint, financial services and cash management. The most important skills for an associate analyst are customer service, powerpoint, and data analysis.
| Bank Analyst | Associate Analyst | |
| Yearly salary | $85,532 | $68,161 |
| Hourly rate | $41.12 | $32.77 |
| Growth rate | 9% | 9% |
| Number of jobs | 62,983 | 97,311 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 72% |
| Average age | 40 | 40 |
| Years of experience | 4 | 4 |
Banking analysts are employees with a strong background in finance or economics. They are usually employed by companies that invest in other businesses, stocks, public offerings, or those looking to merge with other companies. They analyze the company's move and recommend the proper courses of action to ensure its success. They are expected to be updated with the current economic trends and industry changes. This will help them create sound recommendations for the company. Banking analysts should know how to mitigate risks and carve the best possible path for their company.
An associate analyst is an individual who is responsible for the research and investigation for a specific business process and department to help the senior staff make further decisions. Associate analysts must use their analytical skills to understand how the collected data can affect business decisions, then prepare reports that detail findings and recommend solutions. They must assist in developing new business models that can generate profits while reducing costs. Associate analysts can work in various industries ranging from finance and operations to information technology (IT) and marketing.
Bank analysts and associate analysts have different pay scales, as shown below.
| Bank Analyst | Associate Analyst | |
| Average salary | $85,532 | $68,161 |
| Salary range | Between $64,000 And $114,000 | Between $47,000 And $98,000 |
| Highest paying City | Philadelphia, PA | San Francisco, CA |
| Highest paying state | Pennsylvania | New York |
| Best paying company | BGC Partners | Apollo Global Management |
| Best paying industry | Finance | Finance |
There are a few differences between a bank analyst and an associate analyst in terms of educational background:
| Bank Analyst | Associate Analyst | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between bank analysts' and associate analysts' demographics:
| Bank Analyst | Associate Analyst | |
| Average age | 40 | 40 |
| Gender ratio | Male, 58.8% Female, 41.2% | Male, 52.3% Female, 47.7% |
| 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, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 7% |