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The differences between senior risk analysts and credit risk analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a senior risk analyst, becoming a credit risk analyst takes usually requires 1-2 years. Additionally, a senior risk analyst has an average salary of $94,366, which is higher than the $85,376 average annual salary of a credit risk analyst.
The top three skills for a senior risk analyst include risk management, SQL and portfolio. The most important skills for a credit risk analyst are risk management, SAS, and SQL.
| Senior Risk Analyst | Credit Risk Analyst | |
| Yearly salary | $94,366 | $85,376 |
| Hourly rate | $45.37 | $41.05 |
| Growth rate | 11% | 11% |
| Number of jobs | 63,964 | 32,578 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 70% |
| Average age | 44 | 39 |
| Years of experience | 4 | 2 |
A senior risk analyst specializes in performing extensive research and analysis to identify the potential financial losses or disadvantages a company may face when making business decisions. Their responsibilities typically revolve around liaising with clients, coordinating with different departments to gather extensive data, monitoring the stock market, and studying competitors. Furthermore, a senior risk analyst may also prepare documentation and presentation for higher-ranking officials, maintain records of transactions, and serve as a mentor to junior analysts, all while adhering to the company's policies and regulations.
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 risk analysts and credit risk analysts have different pay scales, as shown below.
| Senior Risk Analyst | Credit Risk Analyst | |
| Average salary | $94,366 | $85,376 |
| Salary range | Between $69,000 And $127,000 | Between $62,000 And $116,000 |
| Highest paying City | San Francisco, CA | New York, NY |
| Highest paying state | New Jersey | New York |
| Best paying company | Credit Karma | Western Alliance Bank |
| Best paying industry | Energy | Government |
There are a few differences between a senior risk analyst and a credit risk analyst in terms of educational background:
| Senior Risk Analyst | Credit Risk Analyst | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 70% |
| Most common major | Business | Finance |
| Most common college | Northwestern University | University of Pennsylvania |
Here are the differences between senior risk analysts' and credit risk analysts' demographics:
| Senior Risk Analyst | Credit Risk Analyst | |
| Average age | 44 | 39 |
| Gender ratio | Male, 60.7% Female, 39.3% | Male, 56.4% Female, 43.6% |
| Race ratio | Black or African American, 7.6% Unknown, 4.5% Hispanic or Latino, 8.6% Asian, 14.6% White, 64.6% American Indian and Alaska Native, 0.2% | 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 | 12% | 11% |