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The differences between finance associates and banking associates can be seen in a few details. Each job has different responsibilities and duties. Additionally, a banking associate has an average salary of $81,890, which is higher than the $81,339 average annual salary of a finance associate.
The top three skills for a finance associate include financial statements, powerpoint and financial services. The most important skills for a banking associate are excellent interpersonal, strong customer service, and financial transactions.
| Finance Associate | Banking Associate | |
| Yearly salary | $81,339 | $81,890 |
| Hourly rate | $39.11 | $39.37 |
| Growth rate | 10% | -12% |
| Number of jobs | 83,256 | 18,919 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 63% |
| Average age | 43 | 39 |
| Years of experience | 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 banking associate's role is to build positive relationships with clients by performing support tasks. Their responsibilities revolve around greeting clients, processing requests and documentation, gathering and verifying requirements, responding to inquiries and concerns, and offering other services and products to clients. They may also produce progress reports, financial statements, coordinate with team members, and liaise with external agencies. Furthermore, as a banking associate, it is essential to handle issues and complaints, all while adhering to the bank's policies and regulations.
Finance associates and banking associates have different pay scales, as shown below.
| Finance Associate | Banking Associate | |
| Average salary | $81,339 | $81,890 |
| Salary range | Between $50,000 And $130,000 | Between $47,000 And $141,000 |
| Highest paying City | New York, NY | White Plains, 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 banking associate in terms of educational background:
| Finance Associate | Banking Associate | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 63% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | - |
Here are the differences between finance associates' and banking associates' demographics:
| Finance Associate | Banking Associate | |
| Average age | 43 | 39 |
| Gender ratio | Male, 47.3% Female, 52.7% | Male, 41.8% Female, 58.2% |
| 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, 10.1% Unknown, 3.5% Hispanic or Latino, 17.8% Asian, 7.4% White, 60.7% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 6% | 7% |