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The differences between credit assistants and credit and collections 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 assistant, becoming a credit and collections analyst takes usually requires 6-12 months. Additionally, a credit and collections analyst has an average salary of $49,262, 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 credit and collections analyst are customer service, credit limits, and past due accounts.
| Credit Assistant | Credit And Collections Analyst | |
| Yearly salary | $33,741 | $49,262 |
| Hourly rate | $16.22 | $23.68 |
| Growth rate | -5% | -8% |
| Number of jobs | 5,294 | 18,105 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 52% |
| Average age | 39 | 46 |
| Years of experience | 2 | 12 |
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 credit and collections analyst is responsible for evaluating clients' account statements and financial transactions, analyzing their credit scores, and creating payment plans for outstanding debts. Credit and collections analysts assist in handling account discrepancies and financial disputes, reaching out to financial institutions and clients to collect documents and necessary data for resolution processes. They also update the clients' information on the database, analyze the terms of service of contracts, and respond to the customers' inquiries and concerns regarding their account status.
Credit assistants and credit and collections analysts have different pay scales, as shown below.
| Credit Assistant | Credit And Collections Analyst | |
| Average salary | $33,741 | $49,262 |
| Salary range | Between $26,000 And $43,000 | Between $35,000 And $69,000 |
| Highest paying City | San Francisco, CA | Bridgewater, NJ |
| Highest paying state | California | Connecticut |
| Best paying company | Carter Lumber | Vishay |
| Best paying industry | Finance | Finance |
There are a few differences between a credit assistant and a credit and collections analyst in terms of educational background:
| Credit Assistant | Credit And Collections Analyst | |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 52% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | - |
Here are the differences between credit assistants' and credit and collections analysts' demographics:
| Credit Assistant | Credit And Collections Analyst | |
| Average age | 39 | 46 |
| Gender ratio | Male, 20.4% Female, 79.6% | Male, 30.0% Female, 70.0% |
| 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, 12.0% Unknown, 4.0% Hispanic or Latino, 20.5% Asian, 3.6% White, 59.4% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 11% | 8% |