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The differences between finance associates and finance analysts 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 finance analyst. Additionally, a finance associate has an average salary of $81,339, which is higher than the $69,887 average annual salary of a finance analyst.
The top three skills for a finance associate include financial statements, powerpoint and financial services. The most important skills for a finance analyst are financial analysis, financial models, and financial data.
| Finance Associate | Finance Analyst | |
| Yearly salary | $81,339 | $69,887 |
| Hourly rate | $39.11 | $33.60 |
| Growth rate | 10% | 9% |
| Number of jobs | 83,256 | 138,600 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 76% |
| Average age | 43 | 40 |
| 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 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 associates and finance analysts have different pay scales, as shown below.
| Finance Associate | Finance Analyst | |
| Average salary | $81,339 | $69,887 |
| Salary range | Between $50,000 And $130,000 | Between $46,000 And $104,000 |
| Highest paying City | New York, NY | San Francisco, CA |
| Highest paying state | New York | Connecticut |
| Best paying company | Pillsbury Winthrop Shaw Pittman | The Citadel |
| Best paying industry | Professional | Finance |
There are a few differences between a finance associate and a finance analyst in terms of educational background:
| Finance Associate | Finance Analyst | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance associates' and finance analysts' demographics:
| Finance Associate | Finance Analyst | |
| Average age | 43 | 40 |
| Gender ratio | Male, 47.3% Female, 52.7% | Male, 56.2% Female, 43.8% |
| 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, 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% |