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The differences between senior fraud analysts and fraud investigators 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 investigator takes usually requires 2-4 years. Additionally, a senior fraud analyst has an average salary of $91,428, which is higher than the $49,010 average annual salary of a fraud investigator.
The top three skills for a senior fraud analyst include SQL, fraud risk and fraud prevention. The most important skills for a fraud investigator are law enforcement agencies, investigative reports, and fraud investigations.
| Senior Fraud Analyst | Fraud Investigator | |
| Yearly salary | $91,428 | $49,010 |
| Hourly rate | $43.96 | $23.56 |
| Growth rate | 3% | 6% |
| Number of jobs | 13,411 | 5,470 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 57% | Bachelor's Degree, 59% |
| 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.
A fraud investigator specializes in investigating and identifying fraudulent activities within a company and its clients. Their responsibilities depend on their line of work or industry of employment. However, most of the time, their duties will revolve around devising strategies and systems to detect inconsistencies, monitoring suspicious transactions and accounts, conducting reviews to identify any security lapses or vulnerabilities in the procedures, and teaching staff how to notice any fraudulent activities. Furthermore, it is vital to implement the policies and regulations of the company.
Senior fraud analysts and fraud investigators have different pay scales, as shown below.
| Senior Fraud Analyst | Fraud Investigator | |
| Average salary | $91,428 | $49,010 |
| Salary range | Between $69,000 And $120,000 | Between $32,000 And $74,000 |
| Highest paying City | San Francisco, CA | Sacramento, CA |
| Highest paying state | New York | New York |
| Best paying company | SoFi | Deutsche Bank |
| Best paying industry | Start-up | Finance |
There are a few differences between a senior fraud analyst and a fraud investigator in terms of educational background:
| Senior Fraud Analyst | Fraud Investigator | |
| Most common degree | Bachelor's Degree, 57% | Bachelor's Degree, 59% |
| Most common major | Business | Criminal Justice |
| Most common college | University of Pennsylvania | California State University - Bakersfield |
Here are the differences between senior fraud analysts' and fraud investigators' demographics:
| Senior Fraud Analyst | Fraud Investigator | |
| Average age | 39 | 43 |
| Gender ratio | Male, 43.5% Female, 56.5% | Male, 49.6% Female, 50.4% |
| 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% |