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Risk analyst vs data analyst

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 vs data analyst overview

Risk AnalystData Analyst
Yearly salary$81,484$74,342
Hourly rate$39.17$35.74
Growth rate9%11%
Number of jobs71,284167,520
Job satisfaction--
Most common degreeBachelor's Degree, 71%Bachelor's Degree, 65%
Average age4044
Years of experience44

What does a risk analyst do?

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.

What does a data analyst do?

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 analyst vs data analyst salary

Risk analysts and data analysts have different pay scales, as shown below.

Risk AnalystData Analyst
Average salary$81,484$74,342
Salary rangeBetween $59,000 And $112,000Between $53,000 And $103,000
Highest paying CitySan Francisco, CARichmond, CA
Highest paying stateConnecticutNew Jersey
Best paying companyThe CitadelThe Citadel
Best paying industryManufacturingFinance

Differences between risk analyst and data analyst education

There are a few differences between a risk analyst and a data analyst in terms of educational background:

Risk AnalystData Analyst
Most common degreeBachelor's Degree, 71%Bachelor's Degree, 65%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaNorthwestern University

Risk analyst vs data analyst demographics

Here are the differences between risk analysts' and data analysts' demographics:

Risk AnalystData Analyst
Average age4044
Gender ratioMale, 53.4% Female, 46.6%Male, 50.2% Female, 49.8%
Race ratioBlack 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 Percentage7%12%

Differences between risk analyst and data analyst duties and responsibilities

Risk analyst example responsibilities.

  • Create programs in Java to automate trade execution and ensure market clear downloads are facilitate by the same.
  • Manage financial derivative models to ensure accurate calculation, structure and pricing.
  • Manage investigation and reporting of occurrences to applicable regulatory agencies when indicate and facilitate disclosure to patients and families.
  • Manage litigation through appropriate selection of counsel, developing strategic action plans a while monitoring an active trial calendar.
  • Manage treasury workstation steering team for automation of core treasury operations for increase reliability of financial reporting and decision making.
  • Use SAS and SQL to originate and maintain analytic data marts and automate reporting.
  • Show more

Data analyst example responsibilities.

  • Manage patient s data in UNIX system.
  • Manage loan performance in Hyperion Financials using SQL and PL/SQL tools.
  • Manage and contribute to EDI processes ensuring HIPAA compliance and access to clearing house review on individual case status.
  • Develop Java application to automate reformatting of text files for an internal application.
  • Execute deterministic modeling and Monte Carlo simulations in MATLAB to achieve greater mathematical confidence in results obtain from analysis.
  • Manage weapon system project websites via SharePoint, including troubleshooting technical issues and developing guidelines for public/private information and user permissions.
  • Show more

Risk analyst vs data analyst skills

Common risk analyst skills
  • Risk Management, 19%
  • Risk Assessments, 6%
  • PowerPoint, 6%
  • Portfolio, 5%
  • Data Analysis, 4%
  • SAS, 3%
Common data analyst skills
  • Data Analysis, 10%
  • Python, 7%
  • Power Bi, 6%
  • Data Management, 6%
  • Visualization, 5%
  • Data Quality, 4%

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