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The differences between finance analysts and contract 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 a contract analyst. Additionally, a finance analyst has an average salary of $69,887, which is higher than the $54,544 average annual salary of a contract analyst.
The top three skills for a finance analyst include financial analysis, financial models and financial data. The most important skills for a contract analyst are customer service, contract management, and contract terms.
| Finance Analyst | Contract Analyst | |
| Yearly salary | $69,887 | $54,544 |
| Hourly rate | $33.60 | $26.22 |
| Growth rate | 9% | 9% |
| Number of jobs | 138,600 | 58,593 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 67% |
| 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.
A contract analyst is primarily in charge of thoroughly reviewing contract terms and conditions, negotiating and addressing changes on behalf of a company or an individual, and avoiding financial disadvantages or any disputes. They are responsible for consulting with clients, analyzing clauses and liabilities, recommending amendments, documenting all transactions, and monitoring every change in the contract. Furthermore, there are instances when a contract analyst must coordinate with all department officers, advising them of any significant changes that the contracts might bring.
Finance analysts and contract analysts have different pay scales, as shown below.
| Finance Analyst | Contract Analyst | |
| Average salary | $69,887 | $54,544 |
| Salary range | Between $46,000 And $104,000 | Between $39,000 And $74,000 |
| Highest paying City | San Francisco, CA | Jersey City, NJ |
| Highest paying state | Connecticut | New Jersey |
| Best paying company | The Citadel | AstraZeneca |
| Best paying industry | Finance | Pharmaceutical |
There are a few differences between a finance analyst and a contract analyst in terms of educational background:
| Finance Analyst | Contract Analyst | |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 67% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance analysts' and contract analysts' demographics:
| Finance Analyst | Contract Analyst | |
| Average age | 40 | 40 |
| Gender ratio | Male, 56.2% Female, 43.8% | Male, 41.2% Female, 58.8% |
| 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% |