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The differences between finance assistants and finance administrators can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 1-2 years to become a finance assistant, becoming a finance administrator takes usually requires 6-8 years. Additionally, a finance administrator has an average salary of $55,541, which is higher than the $37,926 average annual salary of a finance assistant.
The top three skills for a finance assistant include customer service, data entry and payroll. The most important skills for a finance administrator are customer service, financial aid, and powerpoint.
| Finance Assistant | Finance Administrator | |
| Yearly salary | $37,926 | $55,541 |
| Hourly rate | $18.23 | $26.70 |
| Growth rate | -8% | 17% |
| Number of jobs | 118,749 | 130,256 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 61% |
| Average age | 50 | 46 |
| Years of experience | 2 | 8 |
A finance assistant is responsible for supporting the financial department with daily operations by doing administrative and clerical tasks as needed. Finance assistants' duties include sorting financial records, updating account spreadsheets, assisting on bank statements reconciliation, processing payments, generating an invoice, auditing financial statements, escalating financial discrepancies for review, and reviewing cost analysis reports. A finance assistant must be knowledgeable of the financial industry and accounting processes, as well as have strong analytical and organizational skills.
A finance administrator is responsible for supporting the financial operations of an organization, handling the accuracy of financial transactions, and resolving discrepancies in the company's financial statements. Finance administrators analyze the company's financial performance, including its losses and revenues, writing financial reports, and providing recommendations for cost-reduction processes to minimize financial risks. They also handle the allocation of departmental budgets, assist in tax audits, and process invoices and payroll release. A finance administrator must have excellent analytical skills and an extensive knowledge of the financial industry.
Finance assistants and finance administrators have different pay scales, as shown below.
| Finance Assistant | Finance Administrator | |
| Average salary | $37,926 | $55,541 |
| Salary range | Between $27,000 And $52,000 | Between $38,000 And $80,000 |
| Highest paying City | Washington, DC | Dover, DE |
| Highest paying state | Connecticut | Delaware |
| Best paying company | Boston Consulting Group | State Street |
| Best paying industry | Manufacturing | Manufacturing |
There are a few differences between a finance assistant and a finance administrator in terms of educational background:
| Finance Assistant | Finance Administrator | |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance assistants' and finance administrators' demographics:
| Finance Assistant | Finance Administrator | |
| Average age | 50 | 46 |
| Gender ratio | Male, 24.9% Female, 75.1% | Male, 29.3% Female, 70.7% |
| Race ratio | Black or African American, 9.3% Unknown, 3.9% Hispanic or Latino, 16.3% Asian, 3.8% White, 66.0% American Indian and Alaska Native, 0.7% | Black or African American, 7.7% Unknown, 4.1% Hispanic or Latino, 14.8% Asian, 9.2% White, 63.9% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 6% | 11% |