Credit analyst vs collection analyst

The differences between credit analysts and collection 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 a collection analyst takes usually requires 6-12 months. Additionally, a credit analyst has an average salary of $61,422, which is higher than the $46,819 average annual salary of a collection analyst.

The top three skills for a credit analyst include customer service, credit analysis and customer accounts. The most important skills for a collection analyst are customer service, portfolio, and patients.

Credit analyst vs collection analyst overview

	Credit Analyst	Collection Analyst
Yearly salary	$61,422	$46,819
Hourly rate	$29.53	$22.51
Growth rate	-5%	-8%
Number of jobs	16,406	28,967
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 65%	Bachelor's Degree, 55%
Average age	39	46
Years of experience	2	12

What does a credit analyst do?

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.

What does a collection analyst do?

Collections analysts assess the riskiness of a company or person in credit extension and repayment collection. The analysts manage data processing contract procurement negotiation. They help in the quarterly and yearly external and internal audits. It is part of their job to collect the first payment default and make sure that portfolios are inappropriate performance. They also act on collection calls for the area of responsibility assigned to them.

Credit analyst vs collection analyst salary

Credit analysts and collection analysts have different pay scales, as shown below.

	Credit Analyst	Collection Analyst
Average salary	$61,422	$46,819
Salary range	Between $40,000 And $93,000	Between $31,000 And $69,000
Highest paying City	New York, NY	Washington, DC
Highest paying state	New York	Connecticut
Best paying company	Apollo Global Management	American Tower
Best paying industry	Finance	Technology

Differences between credit analyst and collection analyst education

There are a few differences between a credit analyst and a collection analyst in terms of educational background:

	Credit Analyst	Collection Analyst
Most common degree	Bachelor's Degree, 65%	Bachelor's Degree, 55%
Most common major	Business	Business
Most common college	University of Pennsylvania	-

Credit analyst vs collection analyst demographics

Here are the differences between credit analysts' and collection analysts' demographics:

	Credit Analyst	Collection Analyst
Average age	39	46
Gender ratio	Male, 44.2% Female, 55.8%	Male, 37.7% Female, 62.3%
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, 13.9% Unknown, 4.2% Hispanic or Latino, 18.6% Asian, 4.0% White, 58.8% American Indian and Alaska Native, 0.5%
LGBT Percentage	11%	8%

Differences between credit analyst and collection analyst duties and responsibilities

Credit analyst example responsibilities.

Provide treasury with funding requirements to maximize LIBOR rate advantage.
Manage a team to help facilitate efficient loan origination, underwriting and closing.
Lead a presentation to the FHA quantitative team by using multiple data visualization techniques.
Manage A/R transactions, prepare weekly account reconciliation's, perform research/ adjustments on A/P and A/R discrepancy accounts.
Utilize data manipulation and quantitative analysis using VBA macros, SQL and advance excel knowledge to manage credit risk exposure.
Manage accounting operations, accounting close, account reporting and reconciliations.

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Collection analyst example responsibilities.

Represent and lead the collections' team during executive management weekly conference calls providing updates on the delinquent A/R reports.
Assist in reducing the DSO down and limit bad debt expense while focusing on building revenue.
Maintain customer relations while improving company DSO.
Work remittance advice from Medicaid and Medicare ensuring accuracy of payments, correcting account billing according with Medicaid or Medicare disposition.
Do credit checks for new clients with Dunn & Bradstreet along with Equifax.
Perform processing functions necessary to ensure timely and accurate DME billing.

Credit analyst vs collection analyst skills

Common credit analyst skills

Customer Service, 12%
Credit Analysis, 7%
Customer Accounts, 4%
Real Estate, 4%
Credit Risk, 4%
Strong Analytical, 4%

Common collection analyst skills

Customer Service, 16%
Portfolio, 9%
Patients, 5%
Customer Accounts, 5%
Delinquent Accounts, 4%
Reconciliations, 4%

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Updated January 8, 2025

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