Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between credit analysts and finance 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 finance analyst takes usually requires 2-4 years. Additionally, a finance analyst has an average salary of $69,887, 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 finance analyst are financial analysis, financial models, and financial data.
| Credit Analyst | Finance Analyst | |
| Yearly salary | $61,422 | $69,887 |
| Hourly rate | $29.53 | $33.60 |
| Growth rate | -5% | 9% |
| Number of jobs | 16,406 | 138,600 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 76% |
| Average age | 39 | 40 |
| 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.
A finance analyst is responsible for evaluating a company's financial data and historical reports to assess investment opportunities and provide accurate financial statements in support of business strategies and company performance prediction. A financial analyst's duties also include suggesting recommendations to boost operations efficiency and grow revenues, researching the current market performance and economic trends to adjust budget goals as needed, and managing client portfolios. Finance analysts must have excellent critical and analytical thinking skills to identify the best actions for the company's profitability.
Credit analysts and finance analysts have different pay scales, as shown below.
| Credit Analyst | Finance Analyst | |
| Average salary | $61,422 | $69,887 |
| Salary range | Between $40,000 And $93,000 | Between $46,000 And $104,000 |
| Highest paying City | New York, NY | San Francisco, CA |
| Highest paying state | New York | Connecticut |
| Best paying company | Apollo Global Management | The Citadel |
| Best paying industry | Finance | Finance |
There are a few differences between a credit analyst and a finance analyst in terms of educational background:
| Credit Analyst | Finance Analyst | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit analysts' and finance analysts' demographics:
| Credit Analyst | Finance Analyst | |
| Average age | 39 | 40 |
| Gender ratio | Male, 44.2% Female, 55.8% | Male, 56.2% Female, 43.8% |
| 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, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 11% | 7% |