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The differences between contract finance 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 finance analyst and a risk analyst. Additionally, a risk analyst has an average salary of $81,484, which is higher than the $64,424 average annual salary of a contract finance analyst.
The top three skills for a contract finance analyst include financial analysis, SQL and cost analysis. The most important skills for a risk analyst are risk management, risk assessments, and powerpoint.
| Contract Finance Analyst | Risk Analyst | |
| Yearly salary | $64,424 | $81,484 |
| Hourly rate | $30.97 | $39.17 |
| Growth rate | 9% | 9% |
| Number of jobs | 103,192 | 71,284 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 71% |
| Average age | 40 | 40 |
| Years of experience | 4 | 4 |
A contract finance analyst specializes in evaluating and managing contracts to help companies avoid financial losses and disputes. It is their duty to understand the needs and goals of a company, review contracts thoroughly, analyze the clauses and liabilities, negotiate contract terms, and recommend amendments on behalf of the clients. There are also instances where they must prepare and process documentation, maintain records, and provide departments with cost-effective methods to comply with the contract's obligations. Above all, a contract finance analyst must monitor every amendment and procedure.
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 finance analysts and risk analysts have different pay scales, as shown below.
| Contract Finance Analyst | Risk Analyst | |
| Average salary | $64,424 | $81,484 |
| Salary range | Between $44,000 And $93,000 | Between $59,000 And $112,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Connecticut | Connecticut |
| Best paying company | Great American Insurance | The Citadel |
| Best paying industry | Finance | Manufacturing |
There are a few differences between a contract finance analyst and a risk analyst in terms of educational background:
| Contract Finance Analyst | Risk Analyst | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between contract finance analysts' and risk analysts' demographics:
| Contract Finance Analyst | Risk Analyst | |
| Average age | 40 | 40 |
| Gender ratio | Male, 52.5% Female, 47.5% | Male, 53.4% Female, 46.6% |
| 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% |