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The differences between risk 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 risk analyst and a data analyst. Additionally, a risk analyst has an average salary of $81,484, which is higher than the $74,342 average annual salary of a data analyst.
The top three skills for a risk analyst include risk management, risk assessments and powerpoint. The most important skills for a data analyst are data analysis, python, and power bi.
| Risk Analyst | Data Analyst | |
| Yearly salary | $81,484 | $74,342 |
| Hourly rate | $39.17 | $35.74 |
| Growth rate | 9% | 11% |
| Number of jobs | 71,284 | 167,520 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 65% |
| Average age | 40 | 44 |
| Years of experience | 4 | 4 |
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.
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.
Risk analysts and data analysts have different pay scales, as shown below.
| Risk Analyst | Data Analyst | |
| Average salary | $81,484 | $74,342 |
| Salary range | Between $59,000 And $112,000 | Between $53,000 And $103,000 |
| Highest paying City | San Francisco, CA | Richmond, CA |
| Highest paying state | Connecticut | New Jersey |
| Best paying company | The Citadel | The Citadel |
| Best paying industry | Manufacturing | Finance |
There are a few differences between a risk analyst and a data analyst in terms of educational background:
| Risk Analyst | Data Analyst | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 65% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between risk analysts' and data analysts' demographics:
| Risk Analyst | Data Analyst | |
| Average age | 40 | 44 |
| Gender ratio | Male, 53.4% Female, 46.6% | Male, 50.2% Female, 49.8% |
| Race ratio | 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% | 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 | 7% | 12% |