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The differences between credit assistants and credit risk 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 credit risk analyst. Additionally, a credit risk analyst has an average salary of $85,376, 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 risk analyst are risk management, SAS, and SQL.
| Credit Assistant | Credit Risk Analyst | |
| Yearly salary | $33,741 | $85,376 |
| Hourly rate | $16.22 | $41.05 |
| Growth rate | -5% | 11% |
| Number of jobs | 5,294 | 32,578 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 70% |
| 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 credit risk analyst's primary role is to assess loan and purchase applications to determine a client's ability to uphold financial obligations. Their responsibilities revolve around performing various analyzation techniques to evaluate financial risks, maintain records of all applications and relevant data, and provide advice on businesses on whether to approve or decline the credit application. Furthermore, a credit risk analyst may perform clerical tasks such as producing progress reports and presentations, responding to inquiries, and coordinating with all departments.
Credit assistants and credit risk analysts have different pay scales, as shown below.
| Credit Assistant | Credit Risk Analyst | |
| Average salary | $33,741 | $85,376 |
| Salary range | Between $26,000 And $43,000 | Between $62,000 And $116,000 |
| Highest paying City | San Francisco, CA | New York, NY |
| Highest paying state | California | New York |
| Best paying company | Carter Lumber | Western Alliance Bank |
| Best paying industry | Finance | Government |
There are a few differences between a credit assistant and a credit risk analyst in terms of educational background:
| Credit Assistant | Credit Risk Analyst | |
| Most common degree | Bachelor's Degree, 50% | Bachelor's Degree, 70% |
| Most common major | Business | Finance |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit assistants' and credit risk analysts' demographics:
| Credit Assistant | Credit Risk Analyst | |
| Average age | 39 | 39 |
| Gender ratio | Male, 20.4% Female, 79.6% | Male, 56.4% Female, 43.6% |
| 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, 7.6% Unknown, 2.6% Hispanic or Latino, 9.5% Asian, 10.5% White, 69.4% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |