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The differences between market risk analysts and credit risk analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a market risk analyst, becoming a credit risk analyst takes usually requires 1-2 years. Additionally, a market risk analyst has an average salary of $90,794, which is higher than the $85,376 average annual salary of a credit risk analyst.
The top three skills for a market risk analyst include risk management, derivative and VAR. The most important skills for a credit risk analyst are risk management, SAS, and SQL.
| Market Risk Analyst | Credit Risk Analyst | |
| Yearly salary | $90,794 | $85,376 |
| Hourly rate | $43.65 | $41.05 |
| Growth rate | 19% | 11% |
| Number of jobs | 40,595 | 32,578 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 70% |
| Average age | 37 | 39 |
| Years of experience | 6 | 2 |
A market risk analyst is responsible for conducting data and statistical analysis to help the business professionals in choosing the best investment and services to take from the assessment. Market risk analysts must have excellent communication and analytical skills to provide profit estimation and design strategies to minimize potential losses. They also identify business opportunities by evaluating the market demand that would generate more revenue resources for the business to increase revenues and close business deals with the clients.
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.
Market risk analysts and credit risk analysts have different pay scales, as shown below.
| Market Risk Analyst | Credit Risk Analyst | |
| Average salary | $90,794 | $85,376 |
| Salary range | Between $63,000 And $130,000 | Between $62,000 And $116,000 |
| Highest paying City | Jersey City, NJ | New York, NY |
| Highest paying state | New Jersey | New York |
| Best paying company | Calpine | Western Alliance Bank |
| Best paying industry | Utilities | Government |
There are a few differences between a market risk analyst and a credit risk analyst in terms of educational background:
| Market Risk Analyst | Credit Risk Analyst | |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 70% |
| Most common major | Finance | Finance |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between market risk analysts' and credit risk analysts' demographics:
| Market Risk Analyst | Credit Risk Analyst | |
| Average age | 37 | 39 |
| Gender ratio | Male, 74.2% Female, 25.8% | Male, 56.4% Female, 43.6% |
| Race ratio | Black or African American, 4.7% Unknown, 4.9% Hispanic or Latino, 11.2% Asian, 14.2% White, 64.8% American Indian and Alaska Native, 0.1% | 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% |
| LGBT Percentage | 10% | 11% |