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The differences between finance associates and finance executives 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 executive takes usually requires 6-8 years. Additionally, a finance executive has an average salary of $110,830, 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 finance executive are financial statements, financial services, and portfolio.
| Finance Associate | Finance Executive | |
| Yearly salary | $81,339 | $110,830 |
| Hourly rate | $39.11 | $53.28 |
| Growth rate | 10% | 17% |
| Number of jobs | 83,256 | 137,400 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 67% |
| Average age | 43 | 46 |
| Years of experience | 4 | 8 |
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 executives oversee an organization's money and profit. They are responsible for overseeing the income and expenses of the business' money transactions. These executives evaluate financial reports such as cash-flow statements, tax planning, and budgeting. Sometimes, finance executives manage a staff of finance clerks, hire new staff, and develop schedules. They work full-time in an office, but they also often work beyond regular business hours. As for qualifications, finance executives must have at least a bachelor's degree and a considerable length of work experience in the business field.
Finance associates and finance executives have different pay scales, as shown below.
| Finance Associate | Finance Executive | |
| Average salary | $81,339 | $110,830 |
| Salary range | Between $50,000 And $130,000 | Between $68,000 And $178,000 |
| Highest paying City | New York, NY | West Babylon, NY |
| Highest paying state | New York | New York |
| Best paying company | Pillsbury Winthrop Shaw Pittman | Apple |
| Best paying industry | Professional | Government |
There are a few differences between a finance associate and a finance executive in terms of educational background:
| Finance Associate | Finance Executive | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 67% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance associates' and finance executives' demographics:
| Finance Associate | Finance Executive | |
| Average age | 43 | 46 |
| Gender ratio | Male, 47.3% Female, 52.7% | Male, 63.3% Female, 36.7% |
| 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, 7.4% Unknown, 4.1% Hispanic or Latino, 14.2% Asian, 10.0% White, 64.0% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 6% | 11% |