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The differences between contract finance analysts and control 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 a control analyst. Additionally, a control analyst has an average salary of $69,598, which is higher than the $64,424 average annual salary of a contract finance analyst.
The top three skills for a contract finance analyst include financial analysis, SQL and cost analysis. The most important skills for a control analyst are internal controls, risk assessments, and SOX.
| Contract Finance Analyst | Control Analyst | |
| Yearly salary | $64,424 | $69,598 |
| Hourly rate | $30.97 | $33.46 |
| Growth rate | 9% | 11% |
| Number of jobs | 103,192 | 133,321 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 69% |
| 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.
A control analyst is an individual who is responsible for identifying weaknesses in the work process of an organization and implement methods to minimize risks. Control analysts are required to supervise the process for incident reports and provide technical guidance to their personnel. They must prepare monthly general ledger account analysis and balance sheets reconciliations that are according to the generally accepted accounting principles (GAAP). Control analysts should also assist with the organization's ISO audit procedures and findings.
Contract finance analysts and control analysts have different pay scales, as shown below.
| Contract Finance Analyst | Control Analyst | |
| Average salary | $64,424 | $69,598 |
| Salary range | Between $44,000 And $93,000 | Between $50,000 And $95,000 |
| Highest paying City | San Francisco, CA | Jersey City, NJ |
| Highest paying state | Connecticut | Washington |
| Best paying company | Great American Insurance | Meta |
| Best paying industry | Finance | Energy |
There are a few differences between a contract finance analyst and a control analyst in terms of educational background:
| Contract Finance Analyst | Control Analyst | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 69% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between contract finance analysts' and control analysts' demographics:
| Contract Finance Analyst | Control Analyst | |
| Average age | 40 | 44 |
| Gender ratio | Male, 52.5% Female, 47.5% | Male, 51.9% Female, 48.1% |
| 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, 8.3% Unknown, 4.5% Hispanic or Latino, 9.0% Asian, 11.7% White, 66.3% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 7% | 12% |