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The differences between billing analysts and finance 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 billing 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 $51,544 average annual salary of a billing analyst.
The top three skills for a billing analyst include customer service, patients and billing issues. The most important skills for a finance analyst are financial analysis, financial models, and financial data.
| Billing Analyst | Finance Analyst | |
| Yearly salary | $51,544 | $69,887 |
| Hourly rate | $24.78 | $33.60 |
| Growth rate | -3% | 9% |
| Number of jobs | 30,566 | 138,600 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 76% |
| Average age | 46 | 40 |
| Years of experience | 2 | 4 |
A billing analyst is responsible for supporting the operations of an accounting department, evaluating and issuing invoices, and analyzing the financial transactions of the company. Billing analysts assist with creating financial statements and reports, managing billing discrepancies, updating recent account statements on the company's database, and checking the accuracy of balance sheets. A billing analyst must have excellent analytical skills, as well as the knowledge of the accounting principles, performing account reconciliations, processing receivables, and tracking clients' billing statements.
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.
Billing analysts and finance analysts have different pay scales, as shown below.
| Billing Analyst | Finance Analyst | |
| Average salary | $51,544 | $69,887 |
| Salary range | Between $35,000 And $73,000 | Between $46,000 And $104,000 |
| Highest paying City | Washington, DC | San Francisco, CA |
| Highest paying state | Alaska | Connecticut |
| Best paying company | Meta | The Citadel |
| Best paying industry | Finance | Finance |
There are a few differences between a billing analyst and a finance analyst in terms of educational background:
| Billing Analyst | Finance Analyst | |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between billing analysts' and finance analysts' demographics:
| Billing Analyst | Finance Analyst | |
| Average age | 46 | 40 |
| Gender ratio | Male, 29.7% Female, 70.3% | Male, 56.2% Female, 43.8% |
| Race ratio | Black or African American, 11.3% Unknown, 4.4% Hispanic or Latino, 18.4% Asian, 7.3% White, 57.7% American Indian and Alaska Native, 0.9% | 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% |