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The differences between bank analysts and summer 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 summer analyst. Additionally, a bank analyst has an average salary of $85,532, which is higher than the $66,837 average annual salary of a summer analyst.
The top three skills for a bank analyst include powerpoint, financial services and cash management. The most important skills for a summer analyst are strong analytical, financial statements, and capital markets.
| Bank Analyst | Summer Analyst | |
| Yearly salary | $85,532 | $66,837 |
| Hourly rate | $41.12 | $32.13 |
| Growth rate | 9% | 9% |
| Number of jobs | 62,983 | 44,912 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 80% |
| 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.
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.
Bank analysts and summer analysts have different pay scales, as shown below.
| Bank Analyst | Summer Analyst | |
| Average salary | $85,532 | $66,837 |
| Salary range | Between $64,000 And $114,000 | Between $43,000 And $102,000 |
| Highest paying City | Philadelphia, PA | - |
| Highest paying state | Pennsylvania | - |
| Best paying company | BGC Partners | - |
| Best paying industry | Finance | - |
There are a few differences between a bank analyst and a summer analyst in terms of educational background:
| Bank Analyst | Summer Analyst | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 80% |
| Most common major | Business | Finance |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between bank analysts' and summer analysts' demographics:
| Bank Analyst | Summer Analyst | |
| Average age | 40 | 40 |
| Gender ratio | Male, 58.8% Female, 41.2% | Male, 72.5% Female, 27.5% |
| 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% |