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The differences between contract finance analysts and accounting analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a contract finance analyst and an accounting analyst. Additionally, a contract finance analyst has an average salary of $64,424, which is higher than the $58,399 average annual salary of an accounting analyst.
The top three skills for a contract finance analyst include financial analysis, SQL and cost analysis. The most important skills for an accounting analyst are reconciliations, customer service, and account reconciliations.
| Contract Finance Analyst | Accounting Analyst | |
| Yearly salary | $64,424 | $58,399 |
| Hourly rate | $30.97 | $28.08 |
| Growth rate | 9% | 6% |
| Number of jobs | 103,192 | 81,097 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 74% |
| Average age | 40 | 44 |
| Years of experience | 4 | 4 |
A contract finance analyst specializes in evaluating and managing contracts to help companies avoid financial losses and disputes. It is their duty to understand the needs and goals of a company, review contracts thoroughly, analyze the clauses and liabilities, negotiate contract terms, and recommend amendments on behalf of the clients. There are also instances where they must prepare and process documentation, maintain records, and provide departments with cost-effective methods to comply with the contract's obligations. Above all, a contract finance analyst must monitor every amendment and procedure.
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.
Contract finance analysts and accounting analysts have different pay scales, as shown below.
| Contract Finance Analyst | Accounting Analyst | |
| Average salary | $64,424 | $58,399 |
| Salary range | Between $44,000 And $93,000 | Between $42,000 And $79,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Connecticut | New York |
| Best paying company | Great American Insurance | |
| Best paying industry | Finance | Finance |
There are a few differences between a contract finance analyst and an accounting analyst in terms of educational background:
| Contract Finance Analyst | Accounting Analyst | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 74% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between contract finance analysts' and accounting analysts' demographics:
| Contract Finance Analyst | Accounting Analyst | |
| Average age | 40 | 44 |
| Gender ratio | Male, 52.5% Female, 47.5% | Male, 41.6% Female, 58.4% |
| Race ratio | 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% | 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% |
| LGBT Percentage | 7% | 7% |