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Finance assistant vs finance analyst

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 vs finance analyst overview

Finance AssistantFinance Analyst
Yearly salary$37,926$69,887
Hourly rate$18.23$33.60
Growth rate-8%9%
Number of jobs118,749138,600
Job satisfaction--
Most common degreeBachelor's Degree, 59%Bachelor's Degree, 76%
Average age5040
Years of experience24

What does a finance assistant do?

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.

What does a finance analyst do?

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 assistant vs finance analyst salary

Finance assistants and finance analysts have different pay scales, as shown below.

Finance AssistantFinance Analyst
Average salary$37,926$69,887
Salary rangeBetween $27,000 And $52,000Between $46,000 And $104,000
Highest paying CityWashington, DCSan Francisco, CA
Highest paying stateConnecticutConnecticut
Best paying companyBoston Consulting GroupThe Citadel
Best paying industryManufacturingFinance

Differences between finance assistant and finance analyst education

There are a few differences between a finance assistant and a finance analyst in terms of educational background:

Finance AssistantFinance Analyst
Most common degreeBachelor's Degree, 59%Bachelor's Degree, 76%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Finance assistant vs finance analyst demographics

Here are the differences between finance assistants' and finance analysts' demographics:

Finance AssistantFinance Analyst
Average age5040
Gender ratioMale, 24.9% Female, 75.1%Male, 56.2% Female, 43.8%
Race ratioBlack 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 Percentage6%7%

Differences between finance assistant and finance analyst duties and responsibilities

Finance assistant example responsibilities.

  • Manage finance operations of assign USPS location.
  • Manage patient and insurance account receivables, perform patient account reconciliations, account audits, process insurance billing/correspondence.
  • Maintain cash receipts and disbursement records using QuickBooks and prepare bank reconciliations.
  • Provide emergency Medicaid screening for undocument patients, and perform necessary follow-up calls pertaining to NYC Medicaid applications.
  • Interpret information requests and correspond with patients and agencies in accordance with hospital, state and HIPAA regulations.
  • Schedule appointments, request prior authorization with appropriate CPT and ICD-9 codes, coordinate surgeries, procedures, etc.
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Finance analyst example responsibilities.

  • Manage company asset accounts, wire funds to clients and record and structure amounts into QuickBooks.
  • Manage the UAT team involve in the testing of an enterprise accounting and project management software.
  • Manage customer portfolio to department KPI's, target balance, aging metrics, cash recovery and write-off tolerance.
  • Manage contract database and SalesForce for historical research and financial reporting purposes.
  • Manage and maintain information in worldwide-military database which include exemptions, transfers, retirements, and payroll records.
  • Accomplish project accounting functions including project costing, time reporting, project accruals and proper capitalization of development costs.
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Finance assistant vs finance analyst skills

Common finance assistant skills
  • Customer Service, 21%
  • Data Entry, 10%
  • Payroll, 9%
  • Purchase Orders, 6%
  • Financial Assistance, 5%
  • Credit Card, 4%
Common finance analyst skills
  • Financial Analysis, 9%
  • Financial Models, 5%
  • Financial Data, 5%
  • Strong Analytical, 4%
  • Variance Analysis, 4%
  • Hyperion, 3%

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