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The differences between bank analysts and contract 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 a contract analyst. Additionally, a bank analyst has an average salary of $85,532, which is higher than the $54,544 average annual salary of a contract analyst.
The top three skills for a bank analyst include powerpoint, financial services and cash management. The most important skills for a contract analyst are customer service, contract management, and contract terms.
| Bank Analyst | Contract Analyst | |
| Yearly salary | $85,532 | $54,544 |
| Hourly rate | $41.12 | $26.22 |
| Growth rate | 9% | 9% |
| Number of jobs | 62,983 | 58,593 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 67% |
| 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.
A contract analyst is primarily in charge of thoroughly reviewing contract terms and conditions, negotiating and addressing changes on behalf of a company or an individual, and avoiding financial disadvantages or any disputes. They are responsible for consulting with clients, analyzing clauses and liabilities, recommending amendments, documenting all transactions, and monitoring every change in the contract. Furthermore, there are instances when a contract analyst must coordinate with all department officers, advising them of any significant changes that the contracts might bring.
Bank analysts and contract analysts have different pay scales, as shown below.
| Bank Analyst | Contract Analyst | |
| Average salary | $85,532 | $54,544 |
| Salary range | Between $64,000 And $114,000 | Between $39,000 And $74,000 |
| Highest paying City | Philadelphia, PA | Jersey City, NJ |
| Highest paying state | Pennsylvania | New Jersey |
| Best paying company | BGC Partners | AstraZeneca |
| Best paying industry | Finance | Pharmaceutical |
There are a few differences between a bank analyst and a contract analyst in terms of educational background:
| Bank Analyst | Contract Analyst | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between bank analysts' and contract analysts' demographics:
| Bank Analyst | Contract Analyst | |
| Average age | 40 | 40 |
| Gender ratio | Male, 58.8% Female, 41.2% | Male, 41.2% Female, 58.8% |
| 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% |