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The differences between finance advisors 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 finance advisor and a finance analyst. Additionally, a finance analyst has an average salary of $69,887, which is higher than the $64,993 average annual salary of a finance advisor.
The top three skills for a finance advisor include team support, wealth management and securities. The most important skills for a finance analyst are financial analysis, financial models, and financial data.
| Finance Advisor | Finance Analyst | |
| Yearly salary | $64,993 | $69,887 |
| Hourly rate | $31.25 | $33.60 |
| Growth rate | 15% | 9% |
| Number of jobs | 106,311 | 138,600 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 76% |
| Average age | 45 | 40 |
| 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 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.
Finance advisors and finance analysts have different pay scales, as shown below.
| Finance Advisor | Finance Analyst | |
| Average salary | $64,993 | $69,887 |
| Salary range | Between $34,000 And $121,000 | Between $46,000 And $104,000 |
| Highest paying City | New York, NY | San Francisco, CA |
| Highest paying state | New York | Connecticut |
| Best paying company | Enbridge | The Citadel |
| Best paying industry | Finance | Finance |
There are a few differences between a finance advisor and a finance analyst in terms of educational background:
| Finance Advisor | Finance Analyst | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Minnesota - Twin Cities | University of Pennsylvania |
Here are the differences between finance advisors' and finance analysts' demographics:
| Finance Advisor | Finance Analyst | |
| Average age | 45 | 40 |
| Gender ratio | Male, 72.3% Female, 27.7% | Male, 56.2% Female, 43.8% |
| 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, 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 | 5% | 7% |