Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between rate analysts and risk 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 risk analyst. Additionally, a risk analyst has an average salary of $81,484, 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 risk analyst are risk management, risk assessments, and powerpoint.
| Rate Analyst | Risk Analyst | |
| Yearly salary | $63,534 | $81,484 |
| Hourly rate | $30.55 | $39.17 |
| Growth rate | 9% | 9% |
| Number of jobs | 64,562 | 71,284 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 71% |
| Average age | 40 | 40 |
| 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.
As a risk analyst, you will oversee the identification, assessment, and monitoring of risks that your company has been exposed to. You will evaluate financial documents, potential clients, and economic conditions to determine the level of risk in business decisions. You will be responsible for aggregating data from several sources to develop a comprehensive assessment and create reports, processes, and presentations to better present results. You are also expected to work closely with other team members to analyze and show data effectively.
Rate analysts and risk analysts have different pay scales, as shown below.
| Rate Analyst | Risk Analyst | |
| Average salary | $63,534 | $81,484 |
| Salary range | Between $44,000 And $91,000 | Between $59,000 And $112,000 |
| Highest paying City | Poughkeepsie, NY | San Francisco, CA |
| Highest paying state | New York | Connecticut |
| Best paying company | Tri-State G&T | The Citadel |
| Best paying industry | Health Care | Manufacturing |
There are a few differences between a rate analyst and a risk analyst in terms of educational background:
| Rate Analyst | Risk Analyst | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between rate analysts' and risk analysts' demographics:
| Rate Analyst | Risk Analyst | |
| Average age | 40 | 40 |
| Gender ratio | Male, 52.0% Female, 48.0% | Male, 53.4% Female, 46.6% |
| 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, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 7% |