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The differences between credit assistants 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 assistant and a commercial credit analyst. Additionally, a commercial credit analyst has an average salary of $66,482, which is higher than the $33,741 average annual salary of a credit assistant.
The top three skills for a credit assistant include data entry, financial statements and customer service. The most important skills for a commercial credit analyst are credit analysis, customer service, and strong analytical.
| Credit Assistant | Commercial Credit Analyst | |
| Yearly salary | $33,741 | $66,482 |
| Hourly rate | $16.22 | $31.96 |
| Growth rate | -5% | 4% |
| Number of jobs | 5,294 | 42,862 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 80% |
| Average age | 39 | 39 |
| Years of experience | 2 | 2 |
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.
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 assistants and commercial credit analysts have different pay scales, as shown below.
| Credit Assistant | Commercial Credit Analyst | |
| Average salary | $33,741 | $66,482 |
| Salary range | Between $26,000 And $43,000 | Between $46,000 And $94,000 |
| Highest paying City | San Francisco, CA | Burlingame, CA |
| Highest paying state | California | California |
| Best paying company | Carter Lumber | HSBC Bank |
| Best paying industry | Finance | Automotive |
There are a few differences between a credit assistant and a commercial credit analyst in terms of educational background:
| Credit Assistant | Commercial Credit Analyst | |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 80% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit assistants' and commercial credit analysts' demographics:
| Credit Assistant | Commercial Credit Analyst | |
| Average age | 39 | 39 |
| Gender ratio | Male, 20.4% Female, 79.6% | Male, 61.6% Female, 38.4% |
| Race ratio | 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% | 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% |