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The differences between finance analysts and associate 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 analyst and an associate analyst. Additionally, a finance analyst has an average salary of $69,887, which is higher than the $68,161 average annual salary of an associate analyst.
The top three skills for a finance analyst include financial analysis, financial models and financial data. The most important skills for an associate analyst are customer service, powerpoint, and data analysis.
| Finance Analyst | Associate Analyst | |
| Yearly salary | $69,887 | $68,161 |
| Hourly rate | $33.60 | $32.77 |
| Growth rate | 9% | 9% |
| Number of jobs | 138,600 | 97,311 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 72% |
| Average age | 40 | 40 |
| Years of experience | 4 | 4 |
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.
An associate analyst is an individual who is responsible for the research and investigation for a specific business process and department to help the senior staff make further decisions. Associate analysts must use their analytical skills to understand how the collected data can affect business decisions, then prepare reports that detail findings and recommend solutions. They must assist in developing new business models that can generate profits while reducing costs. Associate analysts can work in various industries ranging from finance and operations to information technology (IT) and marketing.
Finance analysts and associate analysts have different pay scales, as shown below.
| Finance Analyst | Associate Analyst | |
| Average salary | $69,887 | $68,161 |
| Salary range | Between $46,000 And $104,000 | Between $47,000 And $98,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Connecticut | New York |
| Best paying company | The Citadel | Apollo Global Management |
| Best paying industry | Finance | Finance |
There are a few differences between a finance analyst and an associate analyst in terms of educational background:
| Finance Analyst | Associate Analyst | |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance analysts' and associate analysts' demographics:
| Finance Analyst | Associate Analyst | |
| Average age | 40 | 40 |
| Gender ratio | Male, 56.2% Female, 43.8% | Male, 52.3% Female, 47.7% |
| 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, 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 | 7% | 7% |