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The differences between finance analysts and risk analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a finance analyst and a risk analyst. Additionally, a risk analyst has an average salary of $81,484, which is higher than the $69,887 average annual salary of a finance analyst.
The top three skills for a finance analyst include financial analysis, financial models and financial data. The most important skills for a risk analyst are risk management, risk assessments, and powerpoint.
| Finance Analyst | Risk Analyst | |
| Yearly salary | $69,887 | $81,484 |
| Hourly rate | $33.60 | $39.17 |
| Growth rate | 9% | 9% |
| Number of jobs | 138,600 | 71,284 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 71% |
| Average age | 40 | 40 |
| Years of experience | 4 | 4 |
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.
As a risk analyst, you will oversee the identification, assessment, and monitoring of risks that your company has been exposed to. You will evaluate financial documents, potential clients, and economic conditions to determine the level of risk in business decisions. You will be responsible for aggregating data from several sources to develop a comprehensive assessment and create reports, processes, and presentations to better present results. You are also expected to work closely with other team members to analyze and show data effectively.
Finance analysts and risk analysts have different pay scales, as shown below.
| Finance Analyst | Risk Analyst | |
| Average salary | $69,887 | $81,484 |
| Salary range | Between $46,000 And $104,000 | Between $59,000 And $112,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Connecticut | Connecticut |
| Best paying company | The Citadel | The Citadel |
| Best paying industry | Finance | Manufacturing |
There are a few differences between a finance analyst and a risk analyst in terms of educational background:
| Finance Analyst | Risk Analyst | |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance analysts' and risk analysts' demographics:
| Finance Analyst | Risk Analyst | |
| Average age | 40 | 40 |
| Gender ratio | Male, 56.2% Female, 43.8% | Male, 53.4% Female, 46.6% |
| Race ratio | 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% | 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 | 7% | 7% |