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The differences between credit analysts and credit assistants 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 credit assistant. Additionally, a credit analyst has an average salary of $61,422, which is higher than the $33,741 average annual salary of a credit assistant.
The top three skills for a credit analyst include customer service, credit analysis and customer accounts. The most important skills for a credit assistant are data entry, financial statements, and customer service.
| Credit Analyst | Credit Assistant | |
| Yearly salary | $61,422 | $33,741 |
| Hourly rate | $29.53 | $16.22 |
| Growth rate | -5% | -5% |
| Number of jobs | 16,406 | 5,294 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 50% |
| 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 credit assistant is responsible for processing credit requests and assisting customers. They usually answer inquiries, explain procedures, provide instructions, and deal with customer concerns. In some companies, a credit assistant is also in charge of providing support to managers, supervisors, or investigators by preparing and processing documents, handling calls and correspondence, arranging appointments, and coordinating with different departments. They may also participate in training new employees.
Credit analysts and credit assistants have different pay scales, as shown below.
| Credit Analyst | Credit Assistant | |
| Average salary | $61,422 | $33,741 |
| Salary range | Between $40,000 And $93,000 | Between $26,000 And $43,000 |
| Highest paying City | New York, NY | San Francisco, CA |
| Highest paying state | New York | California |
| Best paying company | Apollo Global Management | Carter Lumber |
| Best paying industry | Finance | Finance |
There are a few differences between a credit analyst and a credit assistant in terms of educational background:
| Credit Analyst | Credit Assistant | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 50% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit analysts' and credit assistants' demographics:
| Credit Analyst | Credit Assistant | |
| Average age | 39 | 39 |
| Gender ratio | Male, 44.2% Female, 55.8% | Male, 20.4% Female, 79.6% |
| 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, 7.9% Unknown, 2.7% Hispanic or Latino, 9.7% Asian, 10.7% White, 68.7% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |