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The differences between account payables analysts and finance analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become an account payables analyst, becoming a finance analyst takes usually requires 2-4 years. Additionally, a finance analyst has an average salary of $69,887, which is higher than the $54,356 average annual salary of an account payables analyst.
The top three skills for an account payables analyst include customer service, data entry and purchase orders. The most important skills for a finance analyst are financial analysis, financial models, and financial data.
| Account Payables Analyst | Finance Analyst | |
| Yearly salary | $54,356 | $69,887 |
| Hourly rate | $26.13 | $33.60 |
| Growth rate | -5% | 9% |
| Number of jobs | 73,985 | 138,600 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 76% |
| Average age | 51 | 40 |
| Years of experience | 6 | 4 |
An accounts payable analyst is primarily responsible for managing and processing invoices and payments, ensuring accuracy and timeliness. They are also responsible for coordinating with various departments to obtain and acquire data and invoices, submitting payments to external vendors and suppliers, identifying errors and inconsistencies, and providing corrective measures. One may also perform clerical tasks such as producing progress reports and presentations, managing schedules, addressing issues and concerns through calls and correspondence, and resolving them promptly and efficiently.
A finance analyst is responsible for evaluating a company's financial data and historical reports to assess investment opportunities and provide accurate financial statements in support of business strategies and company performance prediction. A financial analyst's duties also include suggesting recommendations to boost operations efficiency and grow revenues, researching the current market performance and economic trends to adjust budget goals as needed, and managing client portfolios. Finance analysts must have excellent critical and analytical thinking skills to identify the best actions for the company's profitability.
Account payables analysts and finance analysts have different pay scales, as shown below.
| Account Payables Analyst | Finance Analyst | |
| Average salary | $54,356 | $69,887 |
| Salary range | Between $39,000 And $74,000 | Between $46,000 And $104,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | New York | Connecticut |
| Best paying company | SMTC | The Citadel |
| Best paying industry | Energy | Finance |
There are a few differences between an account payables analyst and a finance analyst in terms of educational background:
| Account Payables Analyst | Finance Analyst | |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 76% |
| Most common major | Accounting | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between account payables analysts' and finance analysts' demographics:
| Account Payables Analyst | Finance Analyst | |
| Average age | 51 | 40 |
| Gender ratio | Male, 26.3% Female, 73.7% | Male, 56.2% Female, 43.8% |
| Race ratio | Black or African American, 6.8% Unknown, 4.0% Hispanic or Latino, 14.5% Asian, 6.6% White, 67.6% American Indian and Alaska Native, 0.6% | Black or African American, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 7% |