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The differences between credit risk analysts and finance 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 a finance analyst takes usually requires 2-4 years. Additionally, a credit risk analyst has an average salary of $85,376, which is higher than the $69,887 average annual salary of a finance analyst.
The top three skills for a credit risk analyst include risk management, SAS and SQL. The most important skills for a finance analyst are financial analysis, financial models, and financial data.
| Credit Risk Analyst | Finance Analyst | |
| Yearly salary | $85,376 | $69,887 |
| Hourly rate | $41.05 | $33.60 |
| Growth rate | 11% | 9% |
| Number of jobs | 32,578 | 138,600 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 76% |
| Average age | 39 | 40 |
| 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 finance analyst is responsible for evaluating a company's financial data and historical reports to assess investment opportunities and provide accurate financial statements in support of business strategies and company performance prediction. A financial analyst's duties also include suggesting recommendations to boost operations efficiency and grow revenues, researching the current market performance and economic trends to adjust budget goals as needed, and managing client portfolios. Finance analysts must have excellent critical and analytical thinking skills to identify the best actions for the company's profitability.
Credit risk analysts and finance analysts have different pay scales, as shown below.
| Credit Risk Analyst | Finance Analyst | |
| Average salary | $85,376 | $69,887 |
| Salary range | Between $62,000 And $116,000 | Between $46,000 And $104,000 |
| Highest paying City | New York, NY | San Francisco, CA |
| Highest paying state | New York | Connecticut |
| Best paying company | Western Alliance Bank | The Citadel |
| Best paying industry | Government | Finance |
There are a few differences between a credit risk analyst and a finance analyst in terms of educational background:
| Credit Risk Analyst | Finance Analyst | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 76% |
| Most common major | Finance | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit risk analysts' and finance analysts' demographics:
| Credit Risk Analyst | Finance Analyst | |
| Average age | 39 | 40 |
| Gender ratio | Male, 56.4% Female, 43.6% | Male, 56.2% Female, 43.8% |
| 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, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 11% | 7% |