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The differences between contract finance analysts and finance 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 finance analyst. Additionally, a finance analyst has an average salary of $69,887, 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 finance analyst are financial analysis, financial models, and financial data.
| Contract Finance Analyst | Finance Analyst | |
| Yearly salary | $64,424 | $69,887 |
| Hourly rate | $30.97 | $33.60 |
| Growth rate | 9% | 9% |
| Number of jobs | 103,192 | 138,600 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 76% |
| Average age | 40 | 40 |
| 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 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.
Contract finance analysts and finance analysts have different pay scales, as shown below.
| Contract Finance Analyst | Finance Analyst | |
| Average salary | $64,424 | $69,887 |
| Salary range | Between $44,000 And $93,000 | Between $46,000 And $104,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Connecticut | Connecticut |
| Best paying company | Great American Insurance | The Citadel |
| Best paying industry | Finance | Finance |
There are a few differences between a contract finance analyst and a finance analyst in terms of educational background:
| Contract Finance Analyst | Finance Analyst | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between contract finance analysts' and finance analysts' demographics:
| Contract Finance Analyst | Finance Analyst | |
| Average age | 40 | 40 |
| Gender ratio | Male, 52.5% Female, 47.5% | Male, 56.2% Female, 43.8% |
| 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, 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% |