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The differences between finance associates and relationship bankers 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 relationship banker. Additionally, a finance associate has an average salary of $81,339, which is higher than the $37,091 average annual salary of a relationship banker.
The top three skills for a finance associate include financial statements, powerpoint and financial services. The most important skills for a relationship banker are excellent interpersonal, financial services, and work ethic.
| Finance Associate | Relationship Banker | |
| Yearly salary | $81,339 | $37,091 |
| Hourly rate | $39.11 | $17.83 |
| Growth rate | 10% | 10% |
| Number of jobs | 83,256 | 34,587 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 64% |
| Average age | 43 | 43 |
| 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 relationship banker is responsible for providing financial advice by applying financial disciplines in the banking industry. Relationship bankers process financial transactions on their clients' bank accounts, generate account statements, and reiterate bank policies to support clients' financial goals and objectives. They also research the current financial industry, identify new bank services opportunities to gain more clients, and increase profits for the business. A relationship banker must have excellent communication and customer service skills, responding to the clients' inquiries and concerns regarding their bank accounts, and resolving complaints timely and efficiently.
Finance associates and relationship bankers have different pay scales, as shown below.
| Finance Associate | Relationship Banker | |
| Average salary | $81,339 | $37,091 |
| Salary range | Between $50,000 And $130,000 | Between $28,000 And $48,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Pillsbury Winthrop Shaw Pittman | Santander Bank |
| Best paying industry | Professional | Finance |
There are a few differences between a finance associate and a relationship banker in terms of educational background:
| Finance Associate | Relationship Banker | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 64% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance associates' and relationship bankers' demographics:
| Finance Associate | Relationship Banker | |
| Average age | 43 | 43 |
| Gender ratio | Male, 47.3% Female, 52.7% | Male, 46.6% Female, 53.4% |
| 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, 5.4% Unknown, 4.1% Hispanic or Latino, 11.3% Asian, 12.2% White, 66.7% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 6% | 6% |