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The differences between credit risk analysts 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 risk analyst and a commercial credit analyst. Additionally, a credit risk analyst has an average salary of $85,376, which is higher than the $66,482 average annual salary of a commercial credit analyst.
The top three skills for a credit risk analyst include risk management, SAS and SQL. The most important skills for a commercial credit analyst are credit analysis, customer service, and strong analytical.
| Credit Risk Analyst | Commercial Credit Analyst | |
| Yearly salary | $85,376 | $66,482 |
| Hourly rate | $41.05 | $31.96 |
| Growth rate | 11% | 4% |
| Number of jobs | 32,578 | 42,862 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 80% |
| Average age | 39 | 39 |
| Years of experience | 2 | 2 |
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.
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 risk analysts and commercial credit analysts have different pay scales, as shown below.
| Credit Risk Analyst | Commercial Credit Analyst | |
| Average salary | $85,376 | $66,482 |
| Salary range | Between $62,000 And $116,000 | Between $46,000 And $94,000 |
| Highest paying City | New York, NY | Burlingame, CA |
| Highest paying state | New York | California |
| Best paying company | Western Alliance Bank | HSBC Bank |
| Best paying industry | Government | Automotive |
There are a few differences between a credit risk analyst and a commercial credit analyst in terms of educational background:
| Credit Risk Analyst | Commercial Credit Analyst | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 80% |
| Most common major | Finance | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit risk analysts' and commercial credit analysts' demographics:
| Credit Risk Analyst | Commercial Credit Analyst | |
| Average age | 39 | 39 |
| Gender ratio | Male, 56.4% Female, 43.6% | Male, 61.6% Female, 38.4% |
| 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, 7.9% 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% |