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The differences between investigative analysts and fraud analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both an investigative analyst and a fraud analyst. Additionally, an investigative analyst has an average salary of $125,975, which is higher than the $53,187 average annual salary of a fraud analyst.
The top three skills for an investigative analyst include criminal justice, external stakeholders and anti-money laundering. The most important skills for a fraud analyst are customer service, fraud prevention, and SQL.
| Investigative Analyst | Fraud Analyst | |
| Yearly salary | $125,975 | $53,187 |
| Hourly rate | $60.56 | $25.57 |
| Growth rate | 3% | 6% |
| Number of jobs | 28,703 | 10,891 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 52% |
| Average age | 44 | 43 |
| Years of experience | 4 | 4 |
An investigative analyst is responsible for handling and resolving suspicious activities that pose risks for an organization's reputation and stability. Investigative analysts review incident reports, such as fraud and other law violations, strategizing on effective ways to minimize losses and prevent misconduct reoccurrence. They collect evidence, including documents and interviews, to support their claims and record their findings. An investigative analyst must be highly communicative and organizational, as well as the ability to keep and secure confidential information until further notice.
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.
Investigative analysts and fraud analysts have different pay scales, as shown below.
| Investigative Analyst | Fraud Analyst | |
| Average salary | $125,975 | $53,187 |
| Salary range | Between $102,000 And $154,000 | Between $30,000 And $92,000 |
| Highest paying City | Washington, DC | San Francisco, CA |
| Highest paying state | Montana | Rhode Island |
| Best paying company | Meta | Aspiration |
| Best paying industry | Professional | Finance |
There are a few differences between an investigative analyst and a fraud analyst in terms of educational background:
| Investigative Analyst | Fraud Analyst | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 52% |
| Most common major | Criminal Justice | Business |
| Most common college | SUNY at Binghamton | California State University - Bakersfield |
Here are the differences between investigative analysts' and fraud analysts' demographics:
| Investigative Analyst | Fraud Analyst | |
| Average age | 44 | 43 |
| Gender ratio | Male, 44.9% Female, 55.1% | Male, 41.0% Female, 59.0% |
| Race ratio | Black or African American, 11.9% Unknown, 5.0% Hispanic or Latino, 16.9% Asian, 2.8% White, 62.7% American Indian and Alaska Native, 0.7% | 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% |
| LGBT Percentage | 9% | 4% |