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The differences between credit analysts and senior fraud 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 senior fraud analyst. Additionally, a senior fraud analyst has an average salary of $91,428, 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 senior fraud analyst are SQL, fraud risk, and fraud prevention.
| Credit Analyst | Senior Fraud Analyst | |
| Yearly salary | $61,422 | $91,428 |
| Hourly rate | $29.53 | $43.96 |
| Growth rate | -5% | 3% |
| Number of jobs | 16,406 | 13,411 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 57% |
| 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 Senior Fraud Analyst performs extensive research and analyses to detect suspicious transactions and determine fraudulent activities in financial institutions or business establishments. Their responsibilities typically revolve around monitoring financial transactions and documents, gathering and analyzing various data, conducting account assessments, validating information, and thoroughly reviewing documents. There are also instances where they must set objectives, establish guidelines, produce progress reports, and resolve issues promptly and efficiently. Moreover, as a senior fraud analyst, it is essential to lead and serve as a role model for junior fraud analysts, overseeing their performance while implementing company policies and regulations.
Credit analysts and senior fraud analysts have different pay scales, as shown below.
| Credit Analyst | Senior Fraud Analyst | |
| Average salary | $61,422 | $91,428 |
| Salary range | Between $40,000 And $93,000 | Between $69,000 And $120,000 |
| Highest paying City | New York, NY | San Francisco, CA |
| Highest paying state | New York | New York |
| Best paying company | Apollo Global Management | SoFi |
| Best paying industry | Finance | Start-up |
There are a few differences between a credit analyst and a senior fraud analyst in terms of educational background:
| Credit Analyst | Senior Fraud Analyst | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 57% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit analysts' and senior fraud analysts' demographics:
| Credit Analyst | Senior Fraud Analyst | |
| Average age | 39 | 39 |
| Gender ratio | Male, 44.2% Female, 55.8% | Male, 43.5% Female, 56.5% |
| 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, 8.2% Unknown, 2.7% Hispanic or Latino, 9.8% Asian, 10.0% White, 69.0% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |