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Contract analyst vs risk analyst

The differences between contract analysts and risk 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 contract analyst and a risk analyst. Additionally, a risk analyst has an average salary of $81,484, which is higher than the $54,544 average annual salary of a contract analyst.

The top three skills for a contract analyst include customer service, contract management and contract terms. The most important skills for a risk analyst are risk management, risk assessments, and powerpoint.

Contract analyst vs risk analyst overview

Contract AnalystRisk Analyst
Yearly salary$54,544$81,484
Hourly rate$26.22$39.17
Growth rate9%9%
Number of jobs58,59371,284
Job satisfaction--
Most common degreeBachelor's Degree, 67%Bachelor's Degree, 71%
Average age4040
Years of experience44

What does a contract analyst do?

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.

What does a risk analyst do?

As a risk analyst, you will oversee the identification, assessment, and monitoring of risks that your company has been exposed to. You will evaluate financial documents, potential clients, and economic conditions to determine the level of risk in business decisions. You will be responsible for aggregating data from several sources to develop a comprehensive assessment and create reports, processes, and presentations to better present results. You are also expected to work closely with other team members to analyze and show data effectively.

Contract analyst vs risk analyst salary

Contract analysts and risk analysts have different pay scales, as shown below.

Contract AnalystRisk Analyst
Average salary$54,544$81,484
Salary rangeBetween $39,000 And $74,000Between $59,000 And $112,000
Highest paying CityJersey City, NJSan Francisco, CA
Highest paying stateNew JerseyConnecticut
Best paying companyAstraZenecaThe Citadel
Best paying industryPharmaceuticalManufacturing

Differences between contract analyst and risk analyst education

There are a few differences between a contract analyst and a risk analyst in terms of educational background:

Contract AnalystRisk Analyst
Most common degreeBachelor's Degree, 67%Bachelor's Degree, 71%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Contract analyst vs risk analyst demographics

Here are the differences between contract analysts' and risk analysts' demographics:

Contract AnalystRisk Analyst
Average age4040
Gender ratioMale, 41.2% Female, 58.8%Male, 53.4% Female, 46.6%
Race ratioBlack 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 Percentage7%7%

Differences between contract analyst and risk analyst duties and responsibilities

Contract analyst example responsibilities.

  • Manage RFQ generation, proposal analysis, documentation, PO generation, and subcontractor and supplier follow-up.
  • Lead and educate internal stakeholders in the proper use of document review and approval processes using SharePoint document management tools.
  • Conduct internal audits of the company and audits of subcontractor performance and adherence to Medicare and Medicaid regulations.
  • Coordinate and monitor ethics training with NFA and vendor.
  • Identify issues and conduct investigations of ethics and compliance relate matters.
  • Develop and issue structured requests for information (RFI, RFQ, and RFP).
  • Show more

Risk analyst example responsibilities.

  • Create programs in Java to automate trade execution and ensure market clear downloads are facilitate by the same.
  • Manage financial derivative models to ensure accurate calculation, structure and pricing.
  • Manage investigation and reporting of occurrences to applicable regulatory agencies when indicate and facilitate disclosure to patients and families.
  • Manage litigation through appropriate selection of counsel, developing strategic action plans a while monitoring an active trial calendar.
  • Manage treasury workstation steering team for automation of core treasury operations for increase reliability of financial reporting and decision making.
  • Use SAS and SQL to originate and maintain analytic data marts and automate reporting.
  • Show more

Contract analyst vs risk analyst skills

Common contract analyst skills
  • Customer Service, 10%
  • Contract Management, 8%
  • Contract Terms, 5%
  • SQL, 5%
  • HR, 4%
  • Data Entry, 4%
Common risk analyst skills
  • Risk Management, 19%
  • Risk Assessments, 6%
  • PowerPoint, 6%
  • Portfolio, 5%
  • Data Analysis, 4%
  • SAS, 3%

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