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Rate analyst vs risk analyst

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 vs risk analyst overview

Rate AnalystRisk Analyst
Yearly salary$63,534$81,484
Hourly rate$30.55$39.17
Growth rate9%9%
Number of jobs64,56271,284
Job satisfaction--
Most common degreeBachelor's Degree, 72%Bachelor's Degree, 71%
Average age4040
Years of experience44

What does a rate analyst do?

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.

What does a risk analyst do?

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 analyst vs risk analyst salary

Rate analysts and risk analysts have different pay scales, as shown below.

Rate AnalystRisk Analyst
Average salary$63,534$81,484
Salary rangeBetween $44,000 And $91,000Between $59,000 And $112,000
Highest paying CityPoughkeepsie, NYSan Francisco, CA
Highest paying stateNew YorkConnecticut
Best paying companyTri-State G&TThe Citadel
Best paying industryHealth CareManufacturing

Differences between rate analyst and risk analyst education

There are a few differences between a rate analyst and a risk analyst in terms of educational background:

Rate AnalystRisk Analyst
Most common degreeBachelor's Degree, 72%Bachelor's Degree, 71%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Rate analyst vs risk analyst demographics

Here are the differences between rate analysts' and risk analysts' demographics:

Rate AnalystRisk Analyst
Average age4040
Gender ratioMale, 52.0% Female, 48.0%Male, 53.4% Female, 46.6%
Race ratioBlack 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 Percentage7%7%

Differences between rate analyst and risk analyst duties and responsibilities

Rate analyst example 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.
  • Debug rating procedures and algorithms in SQL when rating issues arises.
  • Create SAS reports on HMO experience for claims monitoring and pricing decisions.
  • Show more

Risk analyst example responsibilities.

  • Create programs in Java to automate trade execution and ensure market clear downloads are facilitate by the same.
  • Manage financial derivative models to ensure accurate calculation, structure and pricing.
  • Manage investigation and reporting of occurrences to applicable regulatory agencies when indicate and facilitate disclosure to patients and families.
  • Manage litigation through appropriate selection of counsel, developing strategic action plans a while monitoring an active trial calendar.
  • Manage treasury workstation steering team for automation of core treasury operations for increase reliability of financial reporting and decision making.
  • Use SAS and SQL to originate and maintain analytic data marts and automate reporting.
  • Show more

Rate analyst vs risk analyst skills

Common rate analyst skills
  • PowerPoint, 9%
  • Tariffs, 8%
  • Financial Models, 7%
  • Strong Analytical, 7%
  • Rate Design, 7%
  • Financial Analysis, 5%
Common risk analyst skills
  • Risk Management, 19%
  • Risk Assessments, 6%
  • PowerPoint, 6%
  • Portfolio, 5%
  • Data Analysis, 4%
  • SAS, 3%

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