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The differences between operational risk analysts and business analysts can be seen in a few details. Each job has different responsibilities and duties. Additionally, an operational risk analyst has an average salary of $82,457, which is higher than the $74,431 average annual salary of a business analyst.
The top three skills for an operational risk analyst include risk management, operational risk and risk assessments. The most important skills for a business analyst are project management, data analysis, and business analysis.
| Operational Risk Analyst | Business Analyst | |
| Yearly salary | $82,457 | $74,431 |
| Hourly rate | $39.64 | $35.78 |
| Growth rate | 23% | 9% |
| Number of jobs | 24,212 | 170,514 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 71% |
| Average age | 45 | 44 |
| Years of experience | - | 4 |
An operational risk analyst is responsible for evaluating the company's operational processes and policies and identify procedures that pose risks for the business. Operational risk analysts strategize techniques to minimize financial loss and prevent operational hazards that may cause delays in operation and affect the quality of deliverables. They analyze incident reports and other underlying factors to improve services and develop opportunities that would bring more revenue resources and profits for the business. An operational risk analyst may also facilitate safety training and programs for employees to reiterate guidelines and regulations for compliance.
Business analysts are employees who are responsible for interpreting business data and coming up with business solutions. They are well-versed in whatever business the company is in, and they have strong business acumen. They collect data related to the business and then interpret and analyze the data. Business analysts should be able to conduct different levels of analyses and must also be able to create a sound study. Once the analysis is done, they provide recommendations or strategic direction to decision-makers that will help the business become sustainable and grow.
Operational risk analysts and business analysts have different pay scales, as shown below.
| Operational Risk Analyst | Business Analyst | |
| Average salary | $82,457 | $74,431 |
| Salary range | Between $60,000 And $112,000 | Between $53,000 And $103,000 |
| Highest paying City | San Francisco, CA | Mountain View, CA |
| Highest paying state | Maryland | Washington |
| Best paying company | PayPal | The Citadel |
| Best paying industry | Automotive | Finance |
There are a few differences between an operational risk analyst and a business analyst in terms of educational background:
| Operational Risk Analyst | Business Analyst | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Southern California | Stanford University |
Here are the differences between operational risk analysts' and business analysts' demographics:
| Operational Risk Analyst | Business Analyst | |
| Average age | 45 | 44 |
| Gender ratio | Male, 45.5% Female, 54.5% | Male, 53.9% Female, 46.1% |
| Race ratio | Black or African American, 12.4% Unknown, 6.0% Hispanic or Latino, 14.3% Asian, 10.4% White, 56.3% American Indian and Alaska Native, 0.6% | Black or African American, 6.2% Unknown, 4.7% Hispanic or Latino, 8.8% Asian, 12.0% White, 67.7% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 9% | 11% |