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The differences between fraud analysts and 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 fraud analyst and an analyst. Additionally, an analyst has an average salary of $73,007, which is higher than the $53,187 average annual salary of a fraud analyst.
The top three skills for a fraud analyst include customer service, fraud prevention and SQL. The most important skills for an analyst are customer service, troubleshoot, and data analysis.
| Fraud Analyst | Analyst | |
| Yearly salary | $53,187 | $73,007 |
| Hourly rate | $25.57 | $35.10 |
| Growth rate | 6% | 11% |
| Number of jobs | 10,891 | 253,138 |
| Job satisfaction | 4 | - |
| Most common degree | Bachelor's Degree, 52% | Bachelor's Degree, 67% |
| Average age | 43 | 44 |
| Years of experience | 4 | 4 |
Fraud analysts are responsible for monitoring bank accounts, accounting paperwork, and financial transactions. They analyze the data to identify any fraudulent and suspicious activities within an organization. Their duties and responsibilities may vary depending on which industries they work in. These may include keeping the confidentiality of any collected information, resolving customers' problems, and maintaining fraud analysis models to enhance the effectiveness and efficiency of company systems. Fraud analysts are also expected to provide recommendations for anti-fraud processes and new software tools to improve fraud detection and prevention.
Analysts are employees or individual contributors with a vast experience in a particular field that help the organization address challenges. They help the organization improve processes, policies, and other operations protocol by studying the current processes in place and determining the effectiveness of those processes. They also research industry trends and data to make sound inferences and recommendations on what the company should do to improve their numbers. Analysts recommend business solutions and often help the organization roll out these solutions. They ensure that the proposed action plans are effective and produce the desired results.
Fraud analysts and analysts have different pay scales, as shown below.
| Fraud Analyst | Analyst | |
| Average salary | $53,187 | $73,007 |
| Salary range | Between $30,000 And $92,000 | Between $53,000 And $99,000 |
| Highest paying City | San Francisco, CA | Jersey City, NJ |
| Highest paying state | Rhode Island | New Jersey |
| Best paying company | Aspiration | The Citadel |
| Best paying industry | Finance | Technology |
There are a few differences between a fraud analyst and an analyst in terms of educational background:
| Fraud Analyst | Analyst | |
| Most common degree | Bachelor's Degree, 52% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | California State University - Bakersfield | Northwestern University |
Here are the differences between fraud analysts' and analysts' demographics:
| Fraud Analyst | Analyst | |
| Average age | 43 | 44 |
| Gender ratio | Male, 41.0% Female, 59.0% | Male, 52.4% Female, 47.6% |
| Race ratio | Black or African American, 8.6% Unknown, 3.9% Hispanic or Latino, 9.6% Asian, 10.0% White, 67.6% American Indian and Alaska Native, 0.3% | Black or African American, 7.4% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.3% White, 65.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 4% | 12% |