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The differences between finance analyst/accountants and tax accountants 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 analyst/accountant and a tax accountant. Additionally, a finance analyst/accountant has an average salary of $62,975, which is higher than the $62,142 average annual salary of a tax accountant.
The top three skills for a finance analyst/accountant include reconciliations, financial analysis and general ledger accounts. The most important skills for a tax accountant are CPA, tax audits, and income tax returns.
| Finance Analyst/Accountant | Tax Accountant | |
| Yearly salary | $62,975 | $62,142 |
| Hourly rate | $30.28 | $29.88 |
| Growth rate | 6% | 6% |
| Number of jobs | 118,043 | 57,919 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 72% |
| Average age | 44 | 44 |
| Years of experience | 4 | 4 |
In a company setting, a finance analyst/accountant is in charge of handling and monitoring financial activities, ensuring efficiency and accuracy. Their responsibilities revolve around preparing financial reports, performing audits and risk assessments, and identifying any errors and inconsistencies, resolving them promptly and efficiently. They also conduct research and analysis to identify new business opportunities, evaluate the existing procedures to determine its strengths and weaknesses, and recommend solutions to optimize operations for financial growth. Furthermore, as a finance analyst/accountant, it is essential to uphold the company's policies and regulations, including its vision and mission.
A tax accountant is an individual who works with clients to produce tax return documents that follow tax laws and regulations while keeping them updated on their return information. Tax accountants must determine tax strategies for their clients that may minimize or eliminate tax payments while arranging audits with taxation authorities. They prepare tax documents for different clients, including private companies, non-profit organizations, and private individuals. Tax accountants are also required to obtain a bachelor's degree in accounting and should understand business concepts.
Finance analyst/accountants and tax accountants have different pay scales, as shown below.
| Finance Analyst/Accountant | Tax Accountant | |
| Average salary | $62,975 | $62,142 |
| Salary range | Between $47,000 And $84,000 | Between $45,000 And $83,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Citi | Pacific Investment Management Company LLC |
| Best paying industry | Finance | Finance |
There are a few differences between a finance analyst/accountant and a tax accountant in terms of educational background:
| Finance Analyst/Accountant | Tax Accountant | |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 72% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance analyst/accountants' and tax accountants' demographics:
| Finance Analyst/Accountant | Tax Accountant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 50.2% Female, 49.8% | Male, 47.3% Female, 52.7% |
| Race ratio | Black or African American, 7.9% Unknown, 3.9% Hispanic or Latino, 10.2% Asian, 17.0% White, 60.6% American Indian and Alaska Native, 0.5% | Black or African American, 8.2% Unknown, 3.9% Hispanic or Latino, 10.5% Asian, 15.5% White, 61.4% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 7% | 7% |