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The differences between finance executives and finance administrators can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-8 years to become both a finance executive and a finance administrator. Additionally, a finance executive has an average salary of $110,830, which is higher than the $55,541 average annual salary of a finance administrator.
The top three skills for a finance executive include financial statements, financial services and portfolio. The most important skills for a finance administrator are customer service, financial aid, and powerpoint.
| Finance Executive | Finance Administrator | |
| Yearly salary | $110,830 | $55,541 |
| Hourly rate | $53.28 | $26.70 |
| Growth rate | 17% | 17% |
| Number of jobs | 137,400 | 130,256 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 61% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
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.
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 executives and finance administrators have different pay scales, as shown below.
| Finance Executive | Finance Administrator | |
| Average salary | $110,830 | $55,541 |
| Salary range | Between $68,000 And $178,000 | Between $38,000 And $80,000 |
| Highest paying City | West Babylon, NY | Dover, DE |
| Highest paying state | New York | Delaware |
| Best paying company | Apple | State Street |
| Best paying industry | Government | Manufacturing |
There are a few differences between a finance executive and a finance administrator in terms of educational background:
| Finance Executive | Finance Administrator | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 61% |
| Most common major | Accounting | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance executives' and finance administrators' demographics:
| Finance Executive | Finance Administrator | |
| Average age | 46 | 46 |
| Gender ratio | Male, 63.3% Female, 36.7% | Male, 29.3% Female, 70.7% |
| Race ratio | 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% | 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 | 11% | 11% |