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The differences between risk analysts and finance advisors 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 finance advisor. Additionally, a risk analyst has an average salary of $81,484, which is higher than the $64,993 average annual salary of a finance advisor.
The top three skills for a risk analyst include risk management, risk assessments and powerpoint. The most important skills for a finance advisor are team support, wealth management, and securities.
| Risk Analyst | Finance Advisor | |
| Yearly salary | $81,484 | $64,993 |
| Hourly rate | $39.17 | $31.25 |
| Growth rate | 9% | 15% |
| Number of jobs | 71,284 | 106,311 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 74% |
| Average age | 40 | 45 |
| 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 Financial Advisor specializes in sharing their expertise with an individual or company on how to handle and boost finances. The responsibilities of a Financial Advisor include creating and proposing a strategy to attain financial gains through profits and investments, educating the client about new methods and opportunities, monitor and evaluate progress, and as well as plan policies according to the clients' life changes. Furthermore, it is also the duty of the Financial Advisor to research new investments that would be of great help to the client's assets.
Risk analysts and finance advisors have different pay scales, as shown below.
| Risk Analyst | Finance Advisor | |
| Average salary | $81,484 | $64,993 |
| Salary range | Between $59,000 And $112,000 | Between $34,000 And $121,000 |
| Highest paying City | San Francisco, CA | New York, NY |
| Highest paying state | Connecticut | New York |
| Best paying company | The Citadel | Enbridge |
| Best paying industry | Manufacturing | Finance |
There are a few differences between a risk analyst and a finance advisor in terms of educational background:
| Risk Analyst | Finance Advisor | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 74% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Minnesota - Twin Cities |
Here are the differences between risk analysts' and finance advisors' demographics:
| Risk Analyst | Finance Advisor | |
| Average age | 40 | 45 |
| Gender ratio | Male, 53.4% Female, 46.6% | Male, 72.3% Female, 27.7% |
| 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, 5.6% Unknown, 4.4% Hispanic or Latino, 9.5% Asian, 8.3% White, 72.1% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 5% |