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The differences between credit risk analysts and mortgage 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 mortgage analyst. Additionally, a credit risk analyst has an average salary of $85,376, which is higher than the $32,763 average annual salary of a mortgage analyst.
The top three skills for a credit risk analyst include risk management, SAS and SQL. The most important skills for a mortgage analyst are origination, financial statements, and excellent organizational.
| Credit Risk Analyst | Mortgage Analyst | |
| Yearly salary | $85,376 | $32,763 |
| Hourly rate | $41.05 | $15.75 |
| Growth rate | 11% | 4% |
| Number of jobs | 32,578 | 22,208 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 71% |
| 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.
Mortgage analysts are financial professionals who are responsible for executing mortgage or loan applications by assessing financial risks and rewards. These analysts are required to analyze the financial and supporting documents on incoming applications to determine whether they are consistent with the internal and insurer policies. They must determine their borrowers' creditworthiness by evaluating property values based on appraised market prices. Mortgage analysts should also collaborate with credit bureaus and reporting agencies to investigate the credit ratings of loan applicants.
Credit risk analysts and mortgage analysts have different pay scales, as shown below.
| Credit Risk Analyst | Mortgage Analyst | |
| Average salary | $85,376 | $32,763 |
| Salary range | Between $62,000 And $116,000 | Between $13,000 And $77,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Western Alliance Bank | Citi |
| Best paying industry | Government | - |
There are a few differences between a credit risk analyst and a mortgage analyst in terms of educational background:
| Credit Risk Analyst | Mortgage Analyst | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 71% |
| Most common major | Finance | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit risk analysts' and mortgage analysts' demographics:
| Credit Risk Analyst | Mortgage Analyst | |
| Average age | 39 | 39 |
| Gender ratio | Male, 56.4% Female, 43.6% | Male, 54.1% Female, 45.9% |
| 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, 8.2% Unknown, 2.7% Hispanic or Latino, 9.8% Asian, 9.6% White, 69.3% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |