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The differences between reconciliation analysts and process 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 process analyst. Additionally, a process analyst has an average salary of $73,233, 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 process analyst are process improvement, project management, and customer service.
| Reconciliation Analyst | Process Analyst | |
| Yearly salary | $55,716 | $73,233 |
| Hourly rate | $26.79 | $35.21 |
| Growth rate | 11% | 11% |
| Number of jobs | 59,659 | 123,238 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 66% |
| 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 process analyst is also known as an operations research analyst, who evaluates in detail the steps in producing products and making important decisions as well as providing recommendations on how to enhance them. They are IT specialists that analyze the business process and workflows to determine how they can be computerized and improved. Responsibilities include identifying problems and risks as well as engaging in problem resolution. Important skills to consider for applicants include being innovative thinkers and goal-oriented.
Reconciliation analysts and process analysts have different pay scales, as shown below.
| Reconciliation Analyst | Process Analyst | |
| Average salary | $55,716 | $73,233 |
| Salary range | Between $39,000 And $79,000 | Between $49,000 And $108,000 |
| Highest paying City | Boston, MA | Santa Clara, CA |
| Highest paying state | Massachusetts | Connecticut |
| Best paying company | J.P. Morgan | Apple |
| Best paying industry | Finance | Finance |
There are a few differences between a reconciliation analyst and a process analyst in terms of educational background:
| Reconciliation Analyst | Process Analyst | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | Northwestern University | Northwestern University |
Here are the differences between reconciliation analysts' and process analysts' demographics:
| Reconciliation Analyst | Process Analyst | |
| Average age | 44 | 44 |
| Gender ratio | Male, 38.0% Female, 62.0% | Male, 50.8% Female, 49.2% |
| 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, 8.2% Unknown, 4.5% Hispanic or Latino, 9.0% Asian, 12.2% White, 66.0% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 12% | 12% |