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The differences between credit analysts and data 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 data analyst takes usually requires 2-4 years. Additionally, a data analyst has an average salary of $74,342, 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 data analyst are data analysis, python, and power bi.
| Credit Analyst | Data Analyst | |
| Yearly salary | $61,422 | $74,342 |
| Hourly rate | $29.53 | $35.74 |
| Growth rate | -5% | 11% |
| Number of jobs | 16,406 | 167,520 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 65% |
| 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.
Data analysts are responsible for interpreting the company's statistics and providing sound recommendations to the organization. They manage the organization's data sets, usually related to market performance, finance, or human resources. They are in charge of studying the available data, spotting trends, interpreting what the data and the trends mean, and recommending suggestions that will help the organization perform better. Their recommendations should also be relevant and backed up with strong analyses. Data analysts are expected to have a good grasp of the current market trends in the industry.
Credit analysts and data analysts have different pay scales, as shown below.
| Credit Analyst | Data Analyst | |
| Average salary | $61,422 | $74,342 |
| Salary range | Between $40,000 And $93,000 | Between $53,000 And $103,000 |
| Highest paying City | New York, NY | Richmond, CA |
| Highest paying state | New York | New Jersey |
| Best paying company | Apollo Global Management | The Citadel |
| Best paying industry | Finance | Finance |
There are a few differences between a credit analyst and a data analyst in terms of educational background:
| Credit Analyst | Data Analyst | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 65% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between credit analysts' and data analysts' demographics:
| Credit Analyst | Data Analyst | |
| Average age | 39 | 44 |
| Gender ratio | Male, 44.2% Female, 55.8% | Male, 50.2% Female, 49.8% |
| 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, 7.5% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.5% White, 64.9% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 11% | 12% |