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The differences between finance analysts and associates can be seen in a few details. Each job has different responsibilities and duties. Additionally, a finance analyst has an average salary of $69,887, which is higher than the $69,556 average annual salary of an associate.
The top three skills for a finance analyst include financial analysis, financial models and financial data. The most important skills for an associate are customer service, sales floor, and patients.
| Finance Analyst | Associate | |
| Yearly salary | $69,887 | $69,556 |
| Hourly rate | $33.60 | $33.44 |
| Growth rate | 9% | - |
| Number of jobs | 138,600 | 569,041 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 46% |
| Average age | 40 | 41 |
| Years of experience | 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.
Associates are typically entry-level positions for employees who are taking on their first job or organizational role. They are assigned to teams or departments that are related to their skills or educational background. They usually start with smaller tasks that may not seem as impactful but are still essential to the department. Associates are trained by more tenured team members on the ins and outs of the department and the organization. As they grow with the organization, they are given more responsibilities that directly impact the results of the department's initiatives as they work towards their goals.
Finance analysts and associates have different pay scales, as shown below.
| Finance Analyst | Associate | |
| Average salary | $69,887 | $69,556 |
| Salary range | Between $46,000 And $104,000 | Between $34,000 And $140,000 |
| Highest paying City | San Francisco, CA | Washington, DC |
| Highest paying state | Connecticut | New York |
| Best paying company | The Citadel | Simpson Thacher & Bartlett |
| Best paying industry | Finance | - |
There are a few differences between a finance analyst and an associate in terms of educational background:
| Finance Analyst | Associate | |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 46% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | - |
Here are the differences between finance analysts' and associates' demographics:
| Finance Analyst | Associate | |
| Average age | 40 | 41 |
| Gender ratio | Male, 56.2% Female, 43.8% | Male, 50.4% Female, 49.6% |
| 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, 10.5% Unknown, 5.3% Hispanic or Latino, 18.3% Asian, 8.3% White, 57.0% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 7% | 7% |