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The differences between rate analysts and business process 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 a business process analyst. Additionally, a business process analyst has an average salary of $78,215, 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 a business process analyst are process improvement, project management, and subject matter experts.
| Rate Analyst | Business Process Analyst | |
| Yearly salary | $63,534 | $78,215 |
| Hourly rate | $30.55 | $37.60 |
| Growth rate | 9% | 11% |
| Number of jobs | 64,562 | 160,260 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 70% |
| 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.
The business process analysts are responsible for producing, managing, and enhancing business processes to improve business performance using data. They gather, analyze, and transcribe information about internal processes to obtain a comprehensive picture of the company's internal workings. Their responsibilities include developing strategies, identifying the needs of the user, and communicating compound data in a comprehensible way. Also, they identify, implement, and assess business metrics that are essential to the end-users. Additionally, they may act as consultants to project teams providing them with recommendations for product or service improvement.
Rate analysts and business process analysts have different pay scales, as shown below.
| Rate Analyst | Business Process Analyst | |
| Average salary | $63,534 | $78,215 |
| Salary range | Between $44,000 And $91,000 | Between $57,000 And $106,000 |
| Highest paying City | Poughkeepsie, NY | Washington, DC |
| Highest paying state | New York | Rhode Island |
| Best paying company | Tri-State G&T | |
| Best paying industry | Health Care | Manufacturing |
There are a few differences between a rate analyst and a business process analyst in terms of educational background:
| Rate Analyst | Business Process Analyst | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 70% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between rate analysts' and business process analysts' demographics:
| Rate Analyst | Business Process Analyst | |
| Average age | 40 | 44 |
| Gender ratio | Male, 52.0% Female, 48.0% | Male, 49.5% Female, 50.5% |
| 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, 7.6% Unknown, 4.5% Hispanic or Latino, 8.6% Asian, 14.6% White, 64.6% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 7% | 12% |