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The differences between finance associates and finance assistants can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a finance associate, becoming a finance assistant takes usually requires 1-2 years. Additionally, a finance associate has an average salary of $81,339, which is higher than the $37,926 average annual salary of a finance assistant.
The top three skills for a finance associate include financial statements, powerpoint and financial services. The most important skills for a finance assistant are customer service, data entry, and payroll.
| Finance Associate | Finance Assistant | |
| Yearly salary | $81,339 | $37,926 |
| Hourly rate | $39.11 | $18.23 |
| Growth rate | 10% | -8% |
| Number of jobs | 83,256 | 118,749 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 59% |
| Average age | 43 | 50 |
| Years of experience | 4 | 2 |
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 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.
Finance associates and finance assistants have different pay scales, as shown below.
| Finance Associate | Finance Assistant | |
| Average salary | $81,339 | $37,926 |
| Salary range | Between $50,000 And $130,000 | Between $27,000 And $52,000 |
| Highest paying City | New York, NY | Washington, DC |
| Highest paying state | New York | Connecticut |
| Best paying company | Pillsbury Winthrop Shaw Pittman | Boston Consulting Group |
| Best paying industry | Professional | Manufacturing |
There are a few differences between a finance associate and a finance assistant in terms of educational background:
| Finance Associate | Finance Assistant | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 59% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance associates' and finance assistants' demographics:
| Finance Associate | Finance Assistant | |
| Average age | 43 | 50 |
| Gender ratio | Male, 47.3% Female, 52.7% | Male, 24.9% Female, 75.1% |
| 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, 9.3% Unknown, 3.9% Hispanic or Latino, 16.3% Asian, 3.8% White, 66.0% American Indian and Alaska Native, 0.7% |
| LGBT Percentage | 6% | 6% |