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The differences between credit analysts and commercial credit analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 1-2 years to become both a credit analyst and a commercial credit analyst. Additionally, a commercial credit analyst has an average salary of $66,482, 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 a commercial credit analyst are credit analysis, customer service, and strong analytical.
| Credit Analyst | Commercial Credit Analyst | |
| Yearly salary | $61,422 | $66,482 |
| Hourly rate | $29.53 | $31.96 |
| Growth rate | -5% | 4% |
| Number of jobs | 16,406 | 42,862 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 80% |
| Average age | 39 | 39 |
| Years of experience | 2 | 2 |
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.
A commercial credit analyst is primarily in charge of assessing a client's credit or loan application, ensuring that they are fit to uphold financial obligations. Their responsibilities typically revolve around coordinating different departments to gather necessary client data, reviewing financial histories, verifying the authenticity of requirements, and developing financial profiles. Moreover, a commercial credit analyst may perform research and analysis to identify new business opportunities, produce progress and sales reports, monitor the payment progress of clients, and maintain a record of all transactions.
Credit analysts and commercial credit analysts have different pay scales, as shown below.
| Credit Analyst | Commercial Credit Analyst | |
| Average salary | $61,422 | $66,482 |
| Salary range | Between $40,000 And $93,000 | Between $46,000 And $94,000 |
| Highest paying City | New York, NY | Burlingame, CA |
| Highest paying state | New York | California |
| Best paying company | Apollo Global Management | HSBC Bank |
| Best paying industry | Finance | Automotive |
There are a few differences between a credit analyst and a commercial credit analyst in terms of educational background:
| Credit Analyst | Commercial Credit Analyst | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 80% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit analysts' and commercial credit analysts' demographics:
| Credit Analyst | Commercial Credit Analyst | |
| Average age | 39 | 39 |
| Gender ratio | Male, 44.2% Female, 55.8% | Male, 61.6% Female, 38.4% |
| 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, 7.9% Unknown, 2.7% Hispanic or Latino, 9.6% Asian, 10.5% White, 69.0% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |