How To Become A Rate Analyst: What It Is and Career Path

What is a rate analyst and how to become one

Updated January 8, 2025

4 min read

Quoted expert

John McDermott Ph.D.

Rate analysts are typically employed in utility companies or companies that offer a variety of services. They are in charge of looking at the client usage data and the current service rates of the company. They take into consideration the cost of production, manpower, and other expenses. They ensure that the company is charging at a rate that is beneficial to the company but not detrimental to the clients. They should be able to find the balance of reaching company targets without compromising both the price and the quality for customers. Rate analysts may also study the service rates of competitors in order to check whether their pricing is at par with other players in the industry. This will also help them calibrate their services and production costs in order to become more efficient.

Rate analysts should have a bachelor's degree in mathematics, accounting, finance, statistics, industrial engineering, business administration, or any related field. They should have good math skills as well as analytical skills in order to succeed in this role.

What general advice would you give to a rate analyst?

John McDermott Ph.D.

Associate Professor, Fairfield University

To maximize your salary potential, keep learning, investing in your human capital, and expanding your capabilities. Learn as much as you can about your new position and industry, work with a variety of people at your firm, and seek opportunities outside your comfort zone. Your salary potential will increase as you are recognized as a capable and hard working colleague.

ScoreRate AnalystUS Average

Salary

5.0

Avg. Salary $63,534

Avg. Salary $59,228

Stability level

5.8

Growth rate 9%

Growth rate 0.3%

Diversity

5.5

Race

American Indian and Alaska Native 0.10%

Asian 14.09%

Black or African American 5.64%

Hispanic or Latino 7.67%

Unknown 4.50%

White 68.00%

Gender

female 47.98%

male 52.02%

Age - 38

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 38

Stress level

5.8

Stress level is manageable

7.1 - high

Complexity level

8.4

Complexity level is challenging

7 - challenging

Work life balance

4.3

Work life balance is poor

6.4 - fair

Key steps to become a rate analyst

Explore rate analyst education requirements

Most common rate analyst degrees

Bachelor's

72.3 %

Master's

11.0 %

Associate

9.8 %

Start to develop specific rate analyst skills

Skills	Percentages
PowerPoint	8.57%
Tariffs	7.58%
Financial Models	7.05%
Strong Analytical	6.95%
Rate Design	6.88%

Complete relevant rate analyst training and internships

Accountants spend an average of 6-12 months on post-employment, on-the-job training. New rate analysts learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a rate analyst based on U.S. Bureau of Labor Statistics data and data from real rate analyst resumes.

Research rate analyst duties and responsibilities

Manage rate case vendor RFP development and selection process, including selection criteria, scoring and evaluation.
Manage project team meetings using SharePoint calendars.
Analyze energy-restructuring initiatives, rate design and retail electricity tariffs.
Monitor rating surveillance process for existing rate securitizations back by residential mortgage loans, asset-backed securities and other structure finance assets.

Prepare your rate analyst resume

When your background is strong enough, you can start writing your rate analyst resume.

You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on a rate analyst resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.

Choose from 10+ customizable rate analyst resume templates

Build a professional rate analyst resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 10+ resume templates to create your rate analyst resume.