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The differences between credit risk analysts and 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 risk analyst, becoming an analyst takes usually requires 2-4 years. Additionally, a credit risk analyst has an average salary of $85,376, which is higher than the $73,007 average annual salary of an analyst.
The top three skills for a credit risk analyst include risk management, SAS and SQL. The most important skills for an analyst are customer service, troubleshoot, and data analysis.
| Credit Risk Analyst | Analyst | |
| Yearly salary | $85,376 | $73,007 |
| Hourly rate | $41.05 | $35.10 |
| Growth rate | 11% | 11% |
| Number of jobs | 32,578 | 253,138 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 67% |
| Average age | 39 | 44 |
| Years of experience | 2 | 4 |
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.
Analysts are employees or individual contributors with a vast experience in a particular field that help the organization address challenges. They help the organization improve processes, policies, and other operations protocol by studying the current processes in place and determining the effectiveness of those processes. They also research industry trends and data to make sound inferences and recommendations on what the company should do to improve their numbers. Analysts recommend business solutions and often help the organization roll out these solutions. They ensure that the proposed action plans are effective and produce the desired results.
Credit risk analysts and analysts have different pay scales, as shown below.
| Credit Risk Analyst | Analyst | |
| Average salary | $85,376 | $73,007 |
| Salary range | Between $62,000 And $116,000 | Between $53,000 And $99,000 |
| Highest paying City | New York, NY | Jersey City, NJ |
| Highest paying state | New York | New Jersey |
| Best paying company | Western Alliance Bank | The Citadel |
| Best paying industry | Government | Technology |
There are a few differences between a credit risk analyst and an analyst in terms of educational background:
| Credit Risk Analyst | Analyst | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 67% |
| Most common major | Finance | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between credit risk analysts' and analysts' demographics:
| Credit Risk Analyst | Analyst | |
| Average age | 39 | 44 |
| Gender ratio | Male, 56.4% Female, 43.6% | Male, 52.4% Female, 47.6% |
| Race ratio | 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% | Black or African American, 7.4% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.3% White, 65.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 11% | 12% |