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The differences between contract finance analysts and finance administrators can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a contract finance analyst, becoming a finance administrator takes usually requires 6-8 years. Additionally, a contract finance analyst has an average salary of $64,424, which is higher than the $55,541 average annual salary of a finance administrator.
The top three skills for a contract finance analyst include financial analysis, SQL and cost analysis. The most important skills for a finance administrator are customer service, financial aid, and powerpoint.
| Contract Finance Analyst | Finance Administrator | |
| Yearly salary | $64,424 | $55,541 |
| Hourly rate | $30.97 | $26.70 |
| Growth rate | 9% | 17% |
| Number of jobs | 103,192 | 130,256 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 61% |
| Average age | 40 | 46 |
| Years of experience | 4 | 8 |
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 finance administrator is responsible for supporting the financial operations of an organization, handling the accuracy of financial transactions, and resolving discrepancies in the company's financial statements. Finance administrators analyze the company's financial performance, including its losses and revenues, writing financial reports, and providing recommendations for cost-reduction processes to minimize financial risks. They also handle the allocation of departmental budgets, assist in tax audits, and process invoices and payroll release. A finance administrator must have excellent analytical skills and an extensive knowledge of the financial industry.
Contract finance analysts and finance administrators have different pay scales, as shown below.
| Contract Finance Analyst | Finance Administrator | |
| Average salary | $64,424 | $55,541 |
| Salary range | Between $44,000 And $93,000 | Between $38,000 And $80,000 |
| Highest paying City | San Francisco, CA | Dover, DE |
| Highest paying state | Connecticut | Delaware |
| Best paying company | Great American Insurance | State Street |
| Best paying industry | Finance | Manufacturing |
There are a few differences between a contract finance analyst and a finance administrator in terms of educational background:
| Contract Finance Analyst | Finance Administrator | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between contract finance analysts' and finance administrators' demographics:
| Contract Finance Analyst | Finance Administrator | |
| Average age | 40 | 46 |
| Gender ratio | Male, 52.5% Female, 47.5% | Male, 29.3% Female, 70.7% |
| 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, 7.7% Unknown, 4.1% Hispanic or Latino, 14.8% Asian, 9.2% White, 63.9% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 7% | 11% |