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The differences between finance advisors and budget 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 finance advisor and a budget analyst. Additionally, a finance advisor has an average salary of $64,993, which is higher than the $56,598 average annual salary of a budget analyst.
The top three skills for a finance advisor include team support, wealth management and securities. The most important skills for a budget analyst are financial management, budget analysis, and financial reports.
| Finance Advisor | Budget Analyst | |
| Yearly salary | $64,993 | $56,598 |
| Hourly rate | $31.25 | $27.21 |
| Growth rate | 15% | 3% |
| Number of jobs | 106,311 | 50,081 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 70% |
| Average age | 45 | 47 |
| Years of experience | 4 | 4 |
A Financial Advisor specializes in sharing their expertise with an individual or company on how to handle and boost finances. The responsibilities of a Financial Advisor include creating and proposing a strategy to attain financial gains through profits and investments, educating the client about new methods and opportunities, monitor and evaluate progress, and as well as plan policies according to the clients' life changes. Furthermore, it is also the duty of the Financial Advisor to research new investments that would be of great help to the client's assets.
A budget analyst supports organizations and businesses by organizing their financial resources to develop and execute budgets for them. A budget analyst is also responsible for evaluating budget proposals, analyzing data, extra funds redistribution, recommending spending cuts, preparing reports annually, and estimating spending requirements in the future. A budget analyst explores alternative funding methods and uses cost-benefit analyses. In addition, budget analysts also look at past budgets and research any financial developments that could affect income and expenditures.
Finance advisors and budget analysts have different pay scales, as shown below.
| Finance Advisor | Budget Analyst | |
| Average salary | $64,993 | $56,598 |
| Salary range | Between $34,000 And $121,000 | Between $42,000 And $76,000 |
| Highest paying City | New York, NY | Washington, DC |
| Highest paying state | New York | Virginia |
| Best paying company | Enbridge | Shenzhen Capital Group |
| Best paying industry | Finance | Government |
There are a few differences between a finance advisor and a budget analyst in terms of educational background:
| Finance Advisor | Budget Analyst | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 70% |
| Most common major | Business | Business |
| Most common college | University of Minnesota - Twin Cities | University of Pennsylvania |
Here are the differences between finance advisors' and budget analysts' demographics:
| Finance Advisor | Budget Analyst | |
| Average age | 45 | 47 |
| Gender ratio | Male, 72.3% Female, 27.7% | Male, 45.7% Female, 54.3% |
| Race ratio | Black or African American, 5.6% Unknown, 4.4% Hispanic or Latino, 9.5% Asian, 8.3% White, 72.1% American Indian and Alaska Native, 0.1% | Black or African American, 12.4% Unknown, 4.7% Hispanic or Latino, 15.3% Asian, 8.9% White, 57.7% American Indian and Alaska Native, 1.0% |
| LGBT Percentage | 5% | 13% |