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The differences between reconciliation 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 reconciliation analyst and an analyst. Additionally, an analyst has an average salary of $73,007, which is higher than the $55,716 average annual salary of a reconciliation analyst.
The top three skills for a reconciliation analyst include reconciliations, portfolio and reconciliation process. The most important skills for an analyst are customer service, troubleshoot, and data analysis.
| Reconciliation Analyst | Analyst | |
| Yearly salary | $55,716 | $73,007 |
| Hourly rate | $26.79 | $35.10 |
| Growth rate | 11% | 11% |
| Number of jobs | 59,659 | 253,138 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 67% |
| Average age | 44 | 44 |
| Years of experience | 4 | 4 |
A reconciliation analyst is responsible for resolving transaction discrepancies between institutions, especially in financial and business records. Reconciliation analysts conduct audits on reports to identify gaps and inconsistencies and escalate it to the reconciliation supervisor for resolution recommendation. They also review account statements, update information on the database, and coordinate with other departments for the necessary filing of documents. A reconciliation analyst must have excellent analytical and critical-thinking skills, especially in providing immediate solutions to clients by adhering to the company's requirements and regulations.
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.
Reconciliation analysts and analysts have different pay scales, as shown below.
| Reconciliation Analyst | Analyst | |
| Average salary | $55,716 | $73,007 |
| Salary range | Between $39,000 And $79,000 | Between $53,000 And $99,000 |
| Highest paying City | Boston, MA | Jersey City, NJ |
| Highest paying state | Massachusetts | New Jersey |
| Best paying company | J.P. Morgan | The Citadel |
| Best paying industry | Finance | Technology |
There are a few differences between a reconciliation analyst and an analyst in terms of educational background:
| Reconciliation Analyst | Analyst | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | Northwestern University | Northwestern University |
Here are the differences between reconciliation analysts' and analysts' demographics:
| Reconciliation Analyst | Analyst | |
| Average age | 44 | 44 |
| Gender ratio | Male, 38.0% Female, 62.0% | Male, 52.4% Female, 47.6% |
| Race ratio | Black or African American, 8.1% Unknown, 4.5% Hispanic or Latino, 8.9% Asian, 11.4% White, 66.9% American Indian and Alaska Native, 0.2% | 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 | 12% | 12% |