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The differences between finance administrators and finance leaders can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-8 years to become both a finance administrator and a finance leader. Additionally, a finance leader has an average salary of $117,284, which is higher than the $55,541 average annual salary of a finance administrator.
The top three skills for a finance administrator include customer service, financial aid and powerpoint. The most important skills for a finance leader are financial analysis, financial management, and business development.
| Finance Administrator | Finance Leader | |
| Yearly salary | $55,541 | $117,284 |
| Hourly rate | $26.70 | $56.39 |
| Growth rate | 17% | 17% |
| Number of jobs | 130,256 | 93,582 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 69% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
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.
The duties of a finance leader depend on one's place or industry of employment. Typically, their responsibilities revolve around monitoring the sales and financial operations in a company, preparing financial reports and statements, finding new sales opportunities, identifying the market and client needs, and maintaining records of all financial transactions. There are also instances where a finance leader may set and allocate budgets, perform audits in costs and expenditures, all while implementing the company's policies and regulations.
Finance administrators and finance leaders have different pay scales, as shown below.
| Finance Administrator | Finance Leader | |
| Average salary | $55,541 | $117,284 |
| Salary range | Between $38,000 And $80,000 | Between $78,000 And $174,000 |
| Highest paying City | Dover, DE | San Francisco, CA |
| Highest paying state | Delaware | Oregon |
| Best paying company | State Street | Apple |
| Best paying industry | Manufacturing | Finance |
There are a few differences between a finance administrator and a finance leader in terms of educational background:
| Finance Administrator | Finance Leader | |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 69% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance administrators' and finance leaders' demographics:
| Finance Administrator | Finance Leader | |
| Average age | 46 | 46 |
| Gender ratio | Male, 29.3% Female, 70.7% | Male, 60.0% Female, 40.0% |
| Race ratio | 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% | Black or African American, 7.5% Unknown, 4.1% Hispanic or Latino, 14.2% Asian, 10.0% White, 63.8% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |