Budget technician vs payment processor

The differences between budget technicians and payment processors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a budget technician and a payment processor. Additionally, a budget technician has an average salary of $42,506, which is higher than the $34,030 average annual salary of a payment processor.

The top three skills for a budget technician include financial management, financial data and financial reports. The most important skills for a payment processor are customer service, patients, and data entry.

Budget technician vs payment processor overview

	Budget Technician	Payment Processor
Yearly salary	$42,506	$34,030
Hourly rate	$20.44	$16.36
Growth rate	-5%	-5%
Number of jobs	7,432	33,161
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 51%	Bachelor's Degree, 35%
Average age	51	51
Years of experience	6	6

Budget technician vs payment processor salary

Budget technicians and payment processors have different pay scales, as shown below.

	Budget Technician	Payment Processor
Average salary	$42,506	$34,030
Salary range	Between $31,000 And $56,000	Between $27,000 And $42,000
Highest paying City	Santa Rosa, CA	San Jose, CA
Highest paying state	Alaska	Alaska
Best paying company	University of Southern California	University of California, Berkeley
Best paying industry	Education	Insurance

Differences between budget technician and payment processor education

There are a few differences between a budget technician and a payment processor in terms of educational background:

	Budget Technician	Payment Processor
Most common degree	Bachelor's Degree, 51%	Bachelor's Degree, 35%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Budget technician vs payment processor demographics

Here are the differences between budget technicians' and payment processors' demographics:

	Budget Technician	Payment Processor
Average age	51	51
Gender ratio	Male, 28.5% Female, 71.5%	Male, 21.5% Female, 78.5%
Race ratio	Black or African American, 6.7% Unknown, 4.0% Hispanic or Latino, 14.3% Asian, 6.5% White, 67.8% American Indian and Alaska Native, 0.6%	Black or African American, 6.8% Unknown, 4.0% Hispanic or Latino, 14.5% Asian, 6.6% White, 67.4% American Indian and Alaska Native, 0.6%
LGBT Percentage	7%	7%

Differences between budget technician and payment processor duties and responsibilities

Budget technician example responsibilities.

Develop expertise in use of PeopleSoft system to manage balance accounts for quarterly investment portfolio.
Supervise unit logistics team by planning logistics functions and allocating manpower to fulfill logistics requirements of the organization.
Verify with division that FTE levels, funding sources, account codes are correct and balance to control numbers.
Utilize agency allocation letters, spending plans and FTE utilization are develop within funding resources.

Payment processor example responsibilities.

Manage and review all incoming discounts and electronic contractual adjustments for accuracy per the negotiated Medicaid and Medicare contracts ;.
Maintain daily transactions for customer payments and various bank accounts using Quickbooks to track transactions.
Prepare and print all reports for EDI processing.
Maintain client customer confidentiality and HIPAA regulations with all data handling and transfers.
Uphold and reinforce compliance with hospital policies and federal regulations such as HIPAA.
Investigate and take corrective action regarding invoices reject by system or through EDI.

Budget technician vs payment processor skills

Common budget technician skills

Financial Management, 12%
Financial Data, 7%
Financial Reports, 7%
Status Updates, 7%
Budget Reports, 4%
Budget Analysis, 4%

Common payment processor skills

Customer Service, 15%
Patients, 10%
Data Entry, 10%
ACH, 8%
Phone Calls, 5%
Credit Card Payments, 4%