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The differences between finance associates and accountants 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 associate and an accountant. Additionally, a finance associate has an average salary of $81,339, which is higher than the $54,890 average annual salary of an accountant.
The top three skills for a finance associate include financial statements, powerpoint and financial services. The most important skills for an accountant are reconciliations, general ledger accounts, and account reconciliations.
| Finance Associate | Accountant | |
| Yearly salary | $81,339 | $54,890 |
| Hourly rate | $39.11 | $26.39 |
| Growth rate | 10% | 6% |
| Number of jobs | 83,256 | 60,073 |
| Job satisfaction | - | 3 |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 71% |
| Average age | 43 | 44 |
| Years of experience | 4 | 4 |
Finance associates perform various financial tasks for a company. These include managing accounting records, preparing payroll documents as well as financial and budget reports, and handling payments. Additionally, finance associates help with tax preparation, audits and reviews, and help with developing and implementing procedures, best practices, and policies for financial and accounting operations. The skills and qualifications for this role may include a bachelor's degree in finance or accounting, excellent communication skills, and attention to detail.
An accountant is an individual whose primary task is to prepare, keep, examine, and interpret financial records. Most accountants are in charge of a wide scope of finance-related tasks, either for private individuals or for large-scale businesses and organizations they are employed with. They make sure that financial statements and records are accurate and comply with laws and regulations. They also compute for taxes, prepare tax returns, and ensure being paid properly and on time. As they keep track and record the flow of money, they can offer guidance on how to reduce costs, enhance revenue, and help in profit maximization.
Finance associates and accountants have different pay scales, as shown below.
| Finance Associate | Accountant | |
| Average salary | $81,339 | $54,890 |
| Salary range | Between $50,000 And $130,000 | Between $41,000 And $72,000 |
| Highest paying City | New York, NY | Washington, DC |
| Highest paying state | New York | New York |
| Best paying company | Pillsbury Winthrop Shaw Pittman | Meta |
| Best paying industry | Professional | Technology |
There are a few differences between a finance associate and an accountant in terms of educational background:
| Finance Associate | Accountant | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 71% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance associates' and accountants' demographics:
| Finance Associate | Accountant | |
| Average age | 43 | 44 |
| Gender ratio | Male, 47.3% Female, 52.7% | Male, 38.2% Female, 61.8% |
| Race ratio | Black or African American, 5.5% Unknown, 4.1% Hispanic or Latino, 11.4% Asian, 12.3% White, 66.5% American Indian and Alaska Native, 0.2% | Black or African American, 8.6% Unknown, 4.0% Hispanic or Latino, 10.9% Asian, 15.0% White, 61.1% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 6% | 7% |