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The differences between finance associates and bankers 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 a banker. Additionally, a finance associate has an average salary of $81,339, which is higher than the $44,463 average annual salary of a banker.
The top three skills for a finance associate include financial statements, powerpoint and financial services. The most important skills for a banker are taking care, financial services, and securities.
| Finance Associate | Banker | |
| Yearly salary | $81,339 | $44,463 |
| Hourly rate | $39.11 | $21.38 |
| Growth rate | 10% | 10% |
| Number of jobs | 83,256 | 29,725 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 56% |
| Average age | 43 | 43 |
| 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.
A banker is primarily responsible for assisting clients with their banking needs, particularly when withdrawing, depositing, and paying. Aside from handling transactions, bankers are also mainly responsible for opening and closing accounts, processing requirements, verifying the validity of documentation, recommending services and other financial options to clients, and resolving inquiries and concerns. A banker may answer calls and correspondence, coordinate with other banking personnel, maintain accurate data, and discuss conditions to clients thoroughly. Furthermore, because a banker mainly works with clients, it is essential to attain customer satisfaction.
Finance associates and bankers have different pay scales, as shown below.
| Finance Associate | Banker | |
| Average salary | $81,339 | $44,463 |
| Salary range | Between $50,000 And $130,000 | Between $20,000 And $97,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Pillsbury Winthrop Shaw Pittman | Citi |
| Best paying industry | Professional | Finance |
There are a few differences between a finance associate and a banker in terms of educational background:
| Finance Associate | Banker | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 56% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance associates' and bankers' demographics:
| Finance Associate | Banker | |
| Average age | 43 | 43 |
| Gender ratio | Male, 47.3% Female, 52.7% | Male, 46.3% Female, 53.7% |
| 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, 5.5% Unknown, 4.1% Hispanic or Latino, 11.4% Asian, 12.3% White, 66.5% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 6% | 6% |