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The differences between finance associates and finance specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a finance associate has an average salary of $81,339, which is higher than the $61,666 average annual salary of a finance specialist.
The top three skills for a finance associate include financial statements, powerpoint and financial services. The most important skills for a finance specialist are customer service, phone calls, and cash handling.
| Finance Associate | Finance Specialist | |
| Yearly salary | $81,339 | $61,666 |
| Hourly rate | $39.11 | $29.65 |
| Growth rate | 10% | 10% |
| Number of jobs | 83,256 | 97,216 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 62% |
| Average age | 43 | 43 |
| 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 financial or finance specialist is the person who sells products and services at financial institutions. Finance specialists are financial professionals who use knowledge of accounting, tax laws, and finance for financial assistance. They may assist clients with corporate or personal finances. The primary skills they must have include interpersonal skills, formal accounting, excellent communication skills, management experience, and financial reporting. They should be equipped with vital customer service and analytical skills.
Finance associates and finance specialists have different pay scales, as shown below.
| Finance Associate | Finance Specialist | |
| Average salary | $81,339 | $61,666 |
| Salary range | Between $50,000 And $130,000 | Between $37,000 And $100,000 |
| Highest paying City | New York, NY | Washington, DC |
| Highest paying state | New York | Connecticut |
| Best paying company | Pillsbury Winthrop Shaw Pittman | |
| Best paying industry | Professional | Finance |
There are a few differences between a finance associate and a finance specialist in terms of educational background:
| Finance Associate | Finance Specialist | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 62% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance associates' and finance specialists' demographics:
| Finance Associate | Finance Specialist | |
| Average age | 43 | 43 |
| Gender ratio | Male, 47.3% Female, 52.7% | Male, 42.1% Female, 57.9% |
| 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, 8.6% Unknown, 3.9% Hispanic or Latino, 9.6% Asian, 10.0% White, 67.6% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 6% | 4% |