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The differences between credit analysts and analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 1-2 years to become a credit analyst, becoming an analyst takes usually requires 2-4 years. Additionally, an analyst has an average salary of $73,007, which is higher than the $61,422 average annual salary of a credit analyst.
The top three skills for a credit analyst include customer service, credit analysis and customer accounts. The most important skills for an analyst are customer service, troubleshoot, and data analysis.
| Credit Analyst | Analyst | |
| Yearly salary | $61,422 | $73,007 |
| Hourly rate | $29.53 | $35.10 |
| Growth rate | -5% | 11% |
| Number of jobs | 16,406 | 253,138 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 67% |
| Average age | 39 | 44 |
| Years of experience | 2 | 4 |
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.
Analysts are employees or individual contributors with a vast experience in a particular field that help the organization address challenges. They help the organization improve processes, policies, and other operations protocol by studying the current processes in place and determining the effectiveness of those processes. They also research industry trends and data to make sound inferences and recommendations on what the company should do to improve their numbers. Analysts recommend business solutions and often help the organization roll out these solutions. They ensure that the proposed action plans are effective and produce the desired results.
Credit analysts and analysts have different pay scales, as shown below.
| Credit Analyst | Analyst | |
| Average salary | $61,422 | $73,007 |
| Salary range | Between $40,000 And $93,000 | Between $53,000 And $99,000 |
| Highest paying City | New York, NY | Jersey City, NJ |
| Highest paying state | New York | New Jersey |
| Best paying company | Apollo Global Management | The Citadel |
| Best paying industry | Finance | Technology |
There are a few differences between a credit analyst and an analyst in terms of educational background:
| Credit Analyst | Analyst | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between credit analysts' and analysts' demographics:
| Credit Analyst | Analyst | |
| Average age | 39 | 44 |
| Gender ratio | Male, 44.2% Female, 55.8% | Male, 52.4% Female, 47.6% |
| Race ratio | 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% | Black or African American, 7.4% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.3% White, 65.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 11% | 12% |