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The differences between reconciliation analysts and data 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 a data analyst. Additionally, a data analyst has an average salary of $74,342, 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 data analyst are data analysis, python, and power bi.
| Reconciliation Analyst | Data Analyst | |
| Yearly salary | $55,716 | $74,342 |
| Hourly rate | $26.79 | $35.74 |
| Growth rate | 11% | 11% |
| Number of jobs | 59,659 | 167,520 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 65% |
| 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.
Data analysts are responsible for interpreting the company's statistics and providing sound recommendations to the organization. They manage the organization's data sets, usually related to market performance, finance, or human resources. They are in charge of studying the available data, spotting trends, interpreting what the data and the trends mean, and recommending suggestions that will help the organization perform better. Their recommendations should also be relevant and backed up with strong analyses. Data analysts are expected to have a good grasp of the current market trends in the industry.
Reconciliation analysts and data analysts have different pay scales, as shown below.
| Reconciliation Analyst | Data Analyst | |
| Average salary | $55,716 | $74,342 |
| Salary range | Between $39,000 And $79,000 | Between $53,000 And $103,000 |
| Highest paying City | Boston, MA | Richmond, CA |
| Highest paying state | Massachusetts | New Jersey |
| Best paying company | J.P. Morgan | The Citadel |
| Best paying industry | Finance | Finance |
There are a few differences between a reconciliation analyst and a data analyst in terms of educational background:
| Reconciliation Analyst | Data Analyst | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 65% |
| Most common major | Business | Business |
| Most common college | Northwestern University | Northwestern University |
Here are the differences between reconciliation analysts' and data analysts' demographics:
| Reconciliation Analyst | Data Analyst | |
| Average age | 44 | 44 |
| Gender ratio | Male, 38.0% Female, 62.0% | Male, 50.2% Female, 49.8% |
| 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% |