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The differences between accounting analysts and tax analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become an accounting analyst, becoming a tax analyst takes usually requires 1-2 years. Additionally, a tax analyst has an average salary of $61,745, which is higher than the $58,399 average annual salary of an accounting analyst.
The top three skills for an accounting analyst include reconciliations, customer service and account reconciliations. The most important skills for a tax analyst are tax audits, reconciliations, and tax compliance.
| Accounting Analyst | Tax Analyst | |
| Yearly salary | $58,399 | $61,745 |
| Hourly rate | $28.08 | $29.69 |
| Growth rate | 6% | -7% |
| Number of jobs | 81,097 | 56,223 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 70% |
| Average age | 44 | 48 |
| Years of experience | 4 | 2 |
An accounting analyst is responsible for supporting the accounting operations of an organization, analyzing financial transactions and financial statements, and resolving account discrepancies. Accounting analysts interpret financial data by consolidating account transactions, performing account reconciliation, and managing account receivables. They also assist in preparing and releasing invoices, issuing billing statements, and creating comprehensive financial reports on the company's budget and expenses. An accounting analyst must have excellent knowledge of the accounting principles and disciplines, as well as extensive analytical and communication skills to perform duties and meet deadlines under minimal supervision.
A tax analyst specializes in managing and filing tax forms and tax returns, all while devising strategies to reduce tax payments legally. A tax analyst may work as a member of a company or independently. Moreover, in a company setting, the responsibilities of a tax analyst revolve around coordinating with different departments to obtain all necessary documentation and financial information, maintaining accurate and extensive records of all transactions, and resolving any issues or concerns. Furthermore, it is essential to remain updated with all the tax laws, all while adhering to the policies and regulations of the company.
Accounting analysts and tax analysts have different pay scales, as shown below.
| Accounting Analyst | Tax Analyst | |
| Average salary | $58,399 | $61,745 |
| Salary range | Between $42,000 And $79,000 | Between $43,000 And $87,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | New York | Maine |
| Best paying company | Meta | |
| Best paying industry | Finance | Technology |
There are a few differences between an accounting analyst and a tax analyst in terms of educational background:
| Accounting Analyst | Tax Analyst | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 70% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Southern California |
Here are the differences between accounting analysts' and tax analysts' demographics:
| Accounting Analyst | Tax Analyst | |
| Average age | 44 | 48 |
| Gender ratio | Male, 41.6% Female, 58.4% | Male, 42.9% Female, 57.1% |
| Race ratio | Black or African American, 8.7% Unknown, 4.0% Hispanic or Latino, 11.0% Asian, 14.3% White, 61.6% American Indian and Alaska Native, 0.5% | Black or African American, 13.1% Unknown, 3.4% Hispanic or Latino, 15.6% Asian, 11.1% White, 56.6% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 7% | 8% |