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The differences between reconciliation analysts and business analyst-consultants 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 a business analyst-consultant. Additionally, a business analyst-consultant has an average salary of $90,127, 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 a business analyst-consultant are strong analytical, business process, and data analysis.
| Reconciliation Analyst | Business Analyst-Consultant | |
| Yearly salary | $55,716 | $90,127 |
| Hourly rate | $26.79 | $43.33 |
| Growth rate | 11% | 11% |
| Number of jobs | 59,659 | 166,560 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 69% |
| 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.
A business analyst-consultant is responsible for overseeing the project management and ensuring that the operations meet the agreed-upon project deliverables. Business analyst-consultants closely coordinate with the clients for their specifications and requirements, monitoring the resources and processes for the project completion, and aligning those to the clients' budget goals. A business analyst-consultant helps the development team on strategizing techniques for brand promotions with minimal costs with maximum quality and productivity. They should have excellent communication and organizational skills, especially on identifying business opportunities to drive revenues and increase profitability.
Reconciliation analysts and business analyst-consultants have different pay scales, as shown below.
| Reconciliation Analyst | Business Analyst-Consultant | |
| Average salary | $55,716 | $90,127 |
| Salary range | Between $39,000 And $79,000 | Between $66,000 And $122,000 |
| Highest paying City | Boston, MA | Washington, DC |
| Highest paying state | Massachusetts | California |
| Best paying company | J.P. Morgan | BNY Mellon |
| Best paying industry | Finance | Finance |
There are a few differences between a reconciliation analyst and a business analyst-consultant in terms of educational background:
| Reconciliation Analyst | Business Analyst-Consultant | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 69% |
| Most common major | Business | Business |
| Most common college | Northwestern University | Northwestern University |
Here are the differences between reconciliation analysts' and business analyst-consultants' demographics:
| Reconciliation Analyst | Business Analyst-Consultant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 38.0% Female, 62.0% | Male, 53.1% Female, 46.9% |
| 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, 7.5% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.5% White, 64.9% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 12% | 12% |