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The differences between finance assistants and finance analysts 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 analyst takes usually requires 2-4 years. Additionally, a finance analyst has an average salary of $69,887, 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 analyst are financial analysis, financial models, and financial data.
| Finance Assistant | Finance Analyst | |
| Yearly salary | $37,926 | $69,887 |
| Hourly rate | $18.23 | $33.60 |
| Growth rate | -8% | 9% |
| Number of jobs | 118,749 | 138,600 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 76% |
| Average age | 50 | 40 |
| Years of experience | 2 | 4 |
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 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.
Finance assistants and finance analysts have different pay scales, as shown below.
| Finance Assistant | Finance Analyst | |
| Average salary | $37,926 | $69,887 |
| Salary range | Between $27,000 And $52,000 | Between $46,000 And $104,000 |
| Highest paying City | Washington, DC | San Francisco, CA |
| Highest paying state | Connecticut | Connecticut |
| Best paying company | Boston Consulting Group | The Citadel |
| Best paying industry | Manufacturing | Finance |
There are a few differences between a finance assistant and a finance analyst in terms of educational background:
| Finance Assistant | Finance Analyst | |
| Most common degree | Bachelor's Degree, 59% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance assistants' and finance analysts' demographics:
| Finance Assistant | Finance Analyst | |
| Average age | 50 | 40 |
| Gender ratio | Male, 24.9% Female, 75.1% | Male, 56.2% Female, 43.8% |
| 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, 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 | 6% | 7% |