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The differences between senior credit analysts and credit risk analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 1-2 years to become both a senior credit analyst and a credit risk analyst. Additionally, a senior credit analyst has an average salary of $86,364, which is higher than the $85,376 average annual salary of a credit risk analyst.
The top three skills for a senior credit analyst include credit analysis, customer service and real estate. The most important skills for a credit risk analyst are risk management, SAS, and SQL.
| Senior Credit Analyst | Credit Risk Analyst | |
| Yearly salary | $86,364 | $85,376 |
| Hourly rate | $41.52 | $41.05 |
| Growth rate | 17% | 11% |
| Number of jobs | 15,221 | 32,578 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 70% |
| Average age | 39 | 39 |
| Years of experience | 2 | 2 |
A senior credit analyst is responsible for reviewing the loan applications of an individual and organization, determining their eligibility by evaluating their credit scores and financial history. Senior credit analysts assess the applicant's capability to pay according to terms and conditions and loan payment plans. They submit recommendation reports of qualified applicants for further investigation and have them submit additional documents as needed. A senior credit analyst decides on credit limits and may provide the applicants' loan and credit alternatives, requiring them to have excellent knowledge of the financial industry and loan options.
A credit risk analyst's primary role is to assess loan and purchase applications to determine a client's ability to uphold financial obligations. Their responsibilities revolve around performing various analyzation techniques to evaluate financial risks, maintain records of all applications and relevant data, and provide advice on businesses on whether to approve or decline the credit application. Furthermore, a credit risk analyst may perform clerical tasks such as producing progress reports and presentations, responding to inquiries, and coordinating with all departments.
Senior credit analysts and credit risk analysts have different pay scales, as shown below.
| Senior Credit Analyst | Credit Risk Analyst | |
| Average salary | $86,364 | $85,376 |
| Salary range | Between $59,000 And $125,000 | Between $62,000 And $116,000 |
| Highest paying City | White Plains, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Apple | Western Alliance Bank |
| Best paying industry | Finance | Government |
There are a few differences between a senior credit analyst and a credit risk analyst in terms of educational background:
| Senior Credit Analyst | Credit Risk Analyst | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 70% |
| Most common major | Business | Finance |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior credit analysts' and credit risk analysts' demographics:
| Senior Credit Analyst | Credit Risk Analyst | |
| Average age | 39 | 39 |
| Gender ratio | Male, 54.6% Female, 45.4% | Male, 56.4% Female, 43.6% |
| Race ratio | Black or African American, 8.3% Unknown, 2.7% Hispanic or Latino, 9.9% Asian, 10.0% White, 68.8% American Indian and Alaska Native, 0.3% | Black or African American, 7.6% Unknown, 2.6% Hispanic or Latino, 9.5% Asian, 10.5% White, 69.4% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |