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The differences between rate 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 rate analyst and an analyst. Additionally, an analyst has an average salary of $73,007, which is higher than the $63,534 average annual salary of a rate analyst.
The top three skills for a rate analyst include powerpoint, tariffs and financial models. The most important skills for an analyst are customer service, troubleshoot, and data analysis.
| Rate Analyst | Analyst | |
| Yearly salary | $63,534 | $73,007 |
| Hourly rate | $30.55 | $35.10 |
| Growth rate | 9% | 11% |
| Number of jobs | 64,562 | 253,138 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 67% |
| Average age | 40 | 44 |
| Years of experience | 4 | 4 |
A rate analyst is responsible for conducting data and statistical analysis to evaluate the accurate service rates and charges for various commercial and industrial purposes. Rate analysts review the current market performance to generate rate reports and discuss service costs through comprehensive graphs and illustrations. They also analyze consumer demands and consider the factors that may affect the constant changes in charges. A rate analyst must have excellent communication and analytical skills, especially in ensuring that rate decisions comply with the regulatory guidelines and federal requirements.
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.
Rate analysts and analysts have different pay scales, as shown below.
| Rate Analyst | Analyst | |
| Average salary | $63,534 | $73,007 |
| Salary range | Between $44,000 And $91,000 | Between $53,000 And $99,000 |
| Highest paying City | Poughkeepsie, NY | Jersey City, NJ |
| Highest paying state | New York | New Jersey |
| Best paying company | Tri-State G&T | The Citadel |
| Best paying industry | Health Care | Technology |
There are a few differences between a rate analyst and an analyst in terms of educational background:
| Rate Analyst | Analyst | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between rate analysts' and analysts' demographics:
| Rate Analyst | Analyst | |
| Average age | 40 | 44 |
| Gender ratio | Male, 52.0% Female, 48.0% | Male, 52.4% Female, 47.6% |
| Race ratio | Black or African American, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% | 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 | 7% | 12% |