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The differences between credit representatives 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 representative and a credit risk analyst. Additionally, a credit risk analyst has an average salary of $85,376, which is higher than the $39,268 average annual salary of a credit representative.
The top three skills for a credit representative include customer service, customer accounts and patients. The most important skills for a credit risk analyst are risk management, SAS, and SQL.
| Credit Representative | Credit Risk Analyst | |
| Yearly salary | $39,268 | $85,376 |
| Hourly rate | $18.88 | $41.05 |
| Growth rate | -8% | 11% |
| Number of jobs | 73,520 | 32,578 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 70% |
| Average age | 39 | 39 |
| Years of experience | 2 | 2 |
Credit representatives are professionals who analyze the credit data and the financial statements of firms or individuals for the determination of the risk in lending money or extending credit. The representatives are tasked to prepare reports with credit information used in decision making. They manage credit files and process credit reports from different credit reporting sources. They also mentor and coach credit representatives newly hired in corporate procedures and policies. Also, they expand collection procedures and policies to lessen DSO parameter risk.
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 representatives and credit risk analysts have different pay scales, as shown below.
| Credit Representative | Credit Risk Analyst | |
| Average salary | $39,268 | $85,376 |
| Salary range | Between $28,000 And $54,000 | Between $62,000 And $116,000 |
| Highest paying City | White Plains, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Systemax | Western Alliance Bank |
| Best paying industry | Construction | Government |
There are a few differences between a credit representative and a credit risk analyst in terms of educational background:
| Credit Representative | Credit Risk Analyst | |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 70% |
| Most common major | Business | Finance |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit representatives' and credit risk analysts' demographics:
| Credit Representative | Credit Risk Analyst | |
| Average age | 39 | 39 |
| Gender ratio | Male, 29.5% Female, 70.5% | Male, 56.4% Female, 43.6% |
| Race ratio | Black or African American, 8.3% Unknown, 2.7% Hispanic or Latino, 10.0% Asian, 7.8% White, 71.0% 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% |