Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between senior fraud analysts and fraud 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 a fraud analyst takes usually requires 2-4 years. Additionally, a senior fraud analyst has an average salary of $91,428, which is higher than the $53,187 average annual salary of a fraud analyst.
The top three skills for a senior fraud analyst include SQL, fraud risk and fraud prevention. The most important skills for a fraud analyst are customer service, fraud prevention, and SQL.
| Senior Fraud Analyst | Fraud Analyst | |
| Yearly salary | $91,428 | $53,187 |
| Hourly rate | $43.96 | $25.57 |
| Growth rate | 3% | 6% |
| Number of jobs | 13,411 | 10,891 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 57% | Bachelor's Degree, 52% |
| Average age | 39 | 43 |
| 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.
Fraud analysts are responsible for monitoring bank accounts, accounting paperwork, and financial transactions. They analyze the data to identify any fraudulent and suspicious activities within an organization. Their duties and responsibilities may vary depending on which industries they work in. These may include keeping the confidentiality of any collected information, resolving customers' problems, and maintaining fraud analysis models to enhance the effectiveness and efficiency of company systems. Fraud analysts are also expected to provide recommendations for anti-fraud processes and new software tools to improve fraud detection and prevention.
Senior fraud analysts and fraud analysts have different pay scales, as shown below.
| Senior Fraud Analyst | Fraud Analyst | |
| Average salary | $91,428 | $53,187 |
| Salary range | Between $69,000 And $120,000 | Between $30,000 And $92,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | New York | Rhode Island |
| Best paying company | SoFi | Aspiration |
| Best paying industry | Start-up | Finance |
There are a few differences between a senior fraud analyst and a fraud analyst in terms of educational background:
| Senior Fraud Analyst | Fraud Analyst | |
| Most common degree | Bachelor's Degree, 57% | Bachelor's Degree, 52% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | California State University - Bakersfield |
Here are the differences between senior fraud analysts' and fraud analysts' demographics:
| Senior Fraud Analyst | Fraud Analyst | |
| Average age | 39 | 43 |
| Gender ratio | Male, 43.5% Female, 56.5% | Male, 41.0% Female, 59.0% |
| 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, 8.6% Unknown, 3.9% Hispanic or Latino, 9.6% Asian, 10.0% White, 67.6% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 4% |