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The differences between senior fraud analysts and analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 1-2 years to become a senior fraud analyst, becoming an analyst takes usually requires 2-4 years. Additionally, a senior fraud analyst has an average salary of $91,428, which is higher than the $73,007 average annual salary of an analyst.
The top three skills for a senior fraud analyst include SQL, fraud risk and fraud prevention. The most important skills for an analyst are customer service, troubleshoot, and data analysis.
| Senior Fraud Analyst | Analyst | |
| Yearly salary | $91,428 | $73,007 |
| Hourly rate | $43.96 | $35.10 |
| Growth rate | 3% | 11% |
| Number of jobs | 13,411 | 253,138 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 57% | Bachelor's Degree, 67% |
| Average age | 39 | 44 |
| Years of experience | 2 | 4 |
A Senior Fraud Analyst performs extensive research and analyses to detect suspicious transactions and determine fraudulent activities in financial institutions or business establishments. Their responsibilities typically revolve around monitoring financial transactions and documents, gathering and analyzing various data, conducting account assessments, validating information, and thoroughly reviewing documents. There are also instances where they must set objectives, establish guidelines, produce progress reports, and resolve issues promptly and efficiently. Moreover, as a senior fraud analyst, it is essential to lead and serve as a role model for junior fraud analysts, overseeing their performance while implementing company policies and regulations.
Analysts are employees or individual contributors with a vast experience in a particular field that help the organization address challenges. They help the organization improve processes, policies, and other operations protocol by studying the current processes in place and determining the effectiveness of those processes. They also research industry trends and data to make sound inferences and recommendations on what the company should do to improve their numbers. Analysts recommend business solutions and often help the organization roll out these solutions. They ensure that the proposed action plans are effective and produce the desired results.
Senior fraud analysts and analysts have different pay scales, as shown below.
| Senior Fraud Analyst | Analyst | |
| Average salary | $91,428 | $73,007 |
| Salary range | Between $69,000 And $120,000 | Between $53,000 And $99,000 |
| Highest paying City | San Francisco, CA | Jersey City, NJ |
| Highest paying state | New York | New Jersey |
| Best paying company | SoFi | The Citadel |
| Best paying industry | Start-up | Technology |
There are a few differences between a senior fraud analyst and an analyst in terms of educational background:
| Senior Fraud Analyst | Analyst | |
| Most common degree | Bachelor's Degree, 57% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between senior fraud analysts' and analysts' demographics:
| Senior Fraud Analyst | Analyst | |
| Average age | 39 | 44 |
| Gender ratio | Male, 43.5% Female, 56.5% | Male, 52.4% Female, 47.6% |
| Race ratio | Black or African American, 8.2% Unknown, 2.7% Hispanic or Latino, 9.8% Asian, 10.0% White, 69.0% American Indian and Alaska Native, 0.3% | Black or African American, 7.4% Unknown, 4.4% Hispanic or Latino, 8.5% Asian, 14.3% White, 65.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 11% | 12% |