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The differences between finance associates and finance coordinators 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 coordinator takes usually requires 4-6 years. Additionally, a finance associate has an average salary of $81,339, which is higher than the $49,358 average annual salary of a finance coordinator.
The top three skills for a finance associate include financial statements, powerpoint and financial services. The most important skills for a finance coordinator are patients, customer service, and payroll.
| Finance Associate | Finance Coordinator | |
| Yearly salary | $81,339 | $49,358 |
| Hourly rate | $39.11 | $23.73 |
| Growth rate | 10% | -5% |
| Number of jobs | 83,256 | 106,187 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 58% |
| Average age | 43 | 51 |
| Years of experience | 4 | 6 |
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.
Finance coordinators are skilled professionals who are employed by all types of industries to manage their financial records accurately. Under the supervision of financial managers, they correlate the company's accounts receivables and payables. They should be able to keep records together with documentation effectively to ensure precision and punctuality of deliverables. Their responsibilities include ensuring accurate billing of customers, managing billing issues and disputes, and making required adjustments to clients' accounts. Candidates for the job must be organized, detail-oriented, able to multi-task as well as cautiously handle sensitive information.
Finance associates and finance coordinators have different pay scales, as shown below.
| Finance Associate | Finance Coordinator | |
| Average salary | $81,339 | $49,358 |
| Salary range | Between $50,000 And $130,000 | Between $34,000 And $71,000 |
| Highest paying City | New York, NY | Washington, DC |
| Highest paying state | New York | Maryland |
| Best paying company | Pillsbury Winthrop Shaw Pittman | McKinsey & Company Inc |
| Best paying industry | Professional | Professional |
There are a few differences between a finance associate and a finance coordinator in terms of educational background:
| Finance Associate | Finance Coordinator | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 58% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance associates' and finance coordinators' demographics:
| Finance Associate | Finance Coordinator | |
| Average age | 43 | 51 |
| Gender ratio | Male, 47.3% Female, 52.7% | Male, 22.1% Female, 77.9% |
| 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, 6.8% Unknown, 4.0% Hispanic or Latino, 14.4% Asian, 6.5% White, 67.7% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 6% | 7% |