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The differences between credit risk analysts and data scientists 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 a data scientist takes usually requires 2-4 years. Additionally, a data scientist has an average salary of $106,104, which is higher than the $85,376 average annual salary of a credit risk analyst.
The top three skills for a credit risk analyst include risk management, SAS and SQL. The most important skills for a data scientist are python, data science, and visualization.
| Credit Risk Analyst | Data Scientist | |
| Yearly salary | $85,376 | $106,104 |
| Hourly rate | $41.05 | $51.01 |
| Growth rate | 11% | 16% |
| Number of jobs | 32,578 | 106,973 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 51% |
| Average age | 39 | 41 |
| 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.
A Data Scientist analyzes information from multiple sources in order to gain maximum insight that can give the company a competitive advantage. They work in different domains, including manufacturing, healthcare, education, and finance.
Credit risk analysts and data scientists have different pay scales, as shown below.
| Credit Risk Analyst | Data Scientist | |
| Average salary | $85,376 | $106,104 |
| Salary range | Between $62,000 And $116,000 | Between $75,000 And $148,000 |
| Highest paying City | New York, NY | Richmond, CA |
| Highest paying state | New York | California |
| Best paying company | Western Alliance Bank | The Citadel |
| Best paying industry | Government | Start-up |
There are a few differences between a credit risk analyst and a data scientist in terms of educational background:
| Credit Risk Analyst | Data Scientist | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 51% |
| Most common major | Finance | Computer Science |
| Most common college | University of Pennsylvania | Columbia University in the City of New York |
Here are the differences between credit risk analysts' and data scientists' demographics:
| Credit Risk Analyst | Data Scientist | |
| Average age | 39 | 41 |
| Gender ratio | Male, 56.4% Female, 43.6% | Male, 79.6% Female, 20.4% |
| 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, 4.2% Unknown, 5.4% Hispanic or Latino, 6.9% Asian, 18.8% White, 64.2% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 11% | 9% |