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The differences between risk analysts and data scientists 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 scientist. Additionally, a data scientist has an average salary of $106,104, which is higher than the $81,484 average annual salary of a risk analyst.
The top three skills for a risk analyst include risk management, risk assessments and powerpoint. The most important skills for a data scientist are python, data science, and visualization.
| Risk Analyst | Data Scientist | |
| Yearly salary | $81,484 | $106,104 |
| Hourly rate | $39.17 | $51.01 |
| Growth rate | 9% | 16% |
| Number of jobs | 71,284 | 106,973 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 51% |
| Average age | 40 | 41 |
| 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.
A Data Scientist analyzes information from multiple sources in order to gain maximum insight that can give the company a competitive advantage. They work in different domains, including manufacturing, healthcare, education, and finance.
Risk analysts and data scientists have different pay scales, as shown below.
| Risk Analyst | Data Scientist | |
| Average salary | $81,484 | $106,104 |
| Salary range | Between $59,000 And $112,000 | Between $75,000 And $148,000 |
| Highest paying City | San Francisco, CA | Richmond, CA |
| Highest paying state | Connecticut | California |
| Best paying company | The Citadel | The Citadel |
| Best paying industry | Manufacturing | Start-up |
There are a few differences between a risk analyst and a data scientist in terms of educational background:
| Risk Analyst | Data Scientist | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 51% |
| Most common major | Business | Computer Science |
| Most common college | University of Pennsylvania | Columbia University in the City of New York |
Here are the differences between risk analysts' and data scientists' demographics:
| Risk Analyst | Data Scientist | |
| Average age | 40 | 41 |
| Gender ratio | Male, 53.4% Female, 46.6% | Male, 79.6% Female, 20.4% |
| 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, 4.2% Unknown, 5.4% Hispanic or Latino, 6.9% Asian, 18.8% White, 64.2% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 7% | 9% |