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The differences between contract finance analysts and tax analysts 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 tax analyst takes usually requires 1-2 years. Additionally, a contract finance analyst has an average salary of $64,424, which is higher than the $61,745 average annual salary of a tax analyst.
The top three skills for a contract finance analyst include financial analysis, SQL and cost analysis. The most important skills for a tax analyst are tax audits, reconciliations, and tax compliance.
| Contract Finance Analyst | Tax Analyst | |
| Yearly salary | $64,424 | $61,745 |
| Hourly rate | $30.97 | $29.69 |
| Growth rate | 9% | -7% |
| Number of jobs | 103,192 | 56,223 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 70% |
| Average age | 40 | 48 |
| Years of experience | 4 | 2 |
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 tax analyst specializes in managing and filing tax forms and tax returns, all while devising strategies to reduce tax payments legally. A tax analyst may work as a member of a company or independently. Moreover, in a company setting, the responsibilities of a tax analyst revolve around coordinating with different departments to obtain all necessary documentation and financial information, maintaining accurate and extensive records of all transactions, and resolving any issues or concerns. Furthermore, it is essential to remain updated with all the tax laws, all while adhering to the policies and regulations of the company.
Contract finance analysts and tax analysts have different pay scales, as shown below.
| Contract Finance Analyst | Tax Analyst | |
| Average salary | $64,424 | $61,745 |
| Salary range | Between $44,000 And $93,000 | Between $43,000 And $87,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Connecticut | Maine |
| Best paying company | Great American Insurance | Meta |
| Best paying industry | Finance | Technology |
There are a few differences between a contract finance analyst and a tax analyst in terms of educational background:
| Contract Finance Analyst | Tax Analyst | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 70% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Southern California |
Here are the differences between contract finance analysts' and tax analysts' demographics:
| Contract Finance Analyst | Tax Analyst | |
| Average age | 40 | 48 |
| Gender ratio | Male, 52.5% Female, 47.5% | Male, 42.9% Female, 57.1% |
| 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, 13.1% Unknown, 3.4% Hispanic or Latino, 15.6% Asian, 11.1% White, 56.6% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 7% | 8% |