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The differences between finance coordinators and finance administrators can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a finance coordinator, becoming a finance administrator takes usually requires 6-8 years. Additionally, a finance administrator has an average salary of $55,541, which is higher than the $49,358 average annual salary of a finance coordinator.
The top three skills for a finance coordinator include patients, customer service and payroll. The most important skills for a finance administrator are customer service, financial aid, and powerpoint.
| Finance Coordinator | Finance Administrator | |
| Yearly salary | $49,358 | $55,541 |
| Hourly rate | $23.73 | $26.70 |
| Growth rate | -5% | 17% |
| Number of jobs | 106,187 | 130,256 |
| Job satisfaction | 5 | - |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 61% |
| Average age | 51 | 46 |
| Years of experience | 6 | 8 |
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.
A finance administrator is responsible for supporting the financial operations of an organization, handling the accuracy of financial transactions, and resolving discrepancies in the company's financial statements. Finance administrators analyze the company's financial performance, including its losses and revenues, writing financial reports, and providing recommendations for cost-reduction processes to minimize financial risks. They also handle the allocation of departmental budgets, assist in tax audits, and process invoices and payroll release. A finance administrator must have excellent analytical skills and an extensive knowledge of the financial industry.
Finance coordinators and finance administrators have different pay scales, as shown below.
| Finance Coordinator | Finance Administrator | |
| Average salary | $49,358 | $55,541 |
| Salary range | Between $34,000 And $71,000 | Between $38,000 And $80,000 |
| Highest paying City | Washington, DC | Dover, DE |
| Highest paying state | Maryland | Delaware |
| Best paying company | McKinsey & Company Inc | State Street |
| Best paying industry | Professional | Manufacturing |
There are a few differences between a finance coordinator and a finance administrator in terms of educational background:
| Finance Coordinator | Finance Administrator | |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance coordinators' and finance administrators' demographics:
| Finance Coordinator | Finance Administrator | |
| Average age | 51 | 46 |
| Gender ratio | Male, 22.1% Female, 77.9% | Male, 29.3% Female, 70.7% |
| Race ratio | 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% | Black or African American, 7.7% Unknown, 4.1% Hispanic or Latino, 14.8% Asian, 9.2% White, 63.9% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 7% | 11% |