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The differences between bank analysts and credit 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 bank analyst, becoming a credit analyst takes usually requires 1-2 years. Additionally, a bank analyst has an average salary of $85,532, which is higher than the $61,422 average annual salary of a credit analyst.
The top three skills for a bank analyst include powerpoint, financial services and cash management. The most important skills for a credit analyst are customer service, credit analysis, and customer accounts.
| Bank Analyst | Credit Analyst | |
| Yearly salary | $85,532 | $61,422 |
| Hourly rate | $41.12 | $29.53 |
| Growth rate | 9% | -5% |
| Number of jobs | 62,983 | 16,406 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 65% |
| Average age | 40 | 39 |
| Years of experience | 4 | 2 |
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 credit analyst's role is to assess and determine a client's capacity to uphold financial obligations when applying for loans or credit programs. Working for creditors like banks and lending firms, a credit analyst must interpret and analyze financial data and personal records, identify inconsistencies and risks, and verify necessary documentation in support of loan committees. Furthermore, a credit analyst must also perform administrative tasks such as preparing reports and applications, fulfilling document requests, reaching out to clients, and coordinating with colleagues to assure accuracy in all operations.
Bank analysts and credit analysts have different pay scales, as shown below.
| Bank Analyst | Credit Analyst | |
| Average salary | $85,532 | $61,422 |
| Salary range | Between $64,000 And $114,000 | Between $40,000 And $93,000 |
| Highest paying City | Philadelphia, PA | New York, NY |
| 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 a credit analyst in terms of educational background:
| Bank Analyst | Credit Analyst | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 65% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between bank analysts' and credit analysts' demographics:
| Bank Analyst | Credit Analyst | |
| Average age | 40 | 39 |
| Gender ratio | Male, 58.8% Female, 41.2% | Male, 44.2% Female, 55.8% |
| 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, 7.7% Unknown, 2.6% Hispanic or Latino, 9.5% Asian, 10.5% White, 69.4% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 7% | 11% |