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The differences between finance officers and accountants can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-8 years to become a finance officer, becoming an accountant takes usually requires 2-4 years. Additionally, a finance officer has an average salary of $68,822, which is higher than the $54,890 average annual salary of an accountant.
The top three skills for a finance officer include real estate, financial data and origination. The most important skills for an accountant are reconciliations, general ledger accounts, and account reconciliations.
| Finance Officer | Accountant | |
| Yearly salary | $68,822 | $54,890 |
| Hourly rate | $33.09 | $26.39 |
| Growth rate | 17% | 6% |
| Number of jobs | 140,730 | 60,073 |
| Job satisfaction | - | 3 |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 71% |
| Average age | 46 | 44 |
| Years of experience | 8 | 4 |
A finance officer is responsible for monitoring the financial department and the transactions of an organization. Finance officers analyze financial reports, update account statements, and oversee the budget allocation for business operations. They also resolve billing discrepancies and banking issues, assist in cash statement release, and manage payroll disputes. A finance officer conducts data and statistical analysis to evaluate the company's financial performance and stability and identifying opportunities to increase revenues and grow more profits.
An accountant is an individual whose primary task is to prepare, keep, examine, and interpret financial records. Most accountants are in charge of a wide scope of finance-related tasks, either for private individuals or for large-scale businesses and organizations they are employed with. They make sure that financial statements and records are accurate and comply with laws and regulations. They also compute for taxes, prepare tax returns, and ensure being paid properly and on time. As they keep track and record the flow of money, they can offer guidance on how to reduce costs, enhance revenue, and help in profit maximization.
Finance officers and accountants have different pay scales, as shown below.
| Finance Officer | Accountant | |
| Average salary | $68,822 | $54,890 |
| Salary range | Between $42,000 And $110,000 | Between $41,000 And $72,000 |
| Highest paying City | Boston, MA | Washington, DC |
| Highest paying state | Delaware | New York |
| Best paying company | Citi | Meta |
| Best paying industry | - | Technology |
There are a few differences between a finance officer and an accountant in terms of educational background:
| Finance Officer | Accountant | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 71% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance officers' and accountants' demographics:
| Finance Officer | Accountant | |
| Average age | 46 | 44 |
| Gender ratio | Male, 52.7% Female, 47.3% | Male, 38.2% Female, 61.8% |
| Race ratio | Black or African American, 7.6% Unknown, 4.1% Hispanic or Latino, 14.5% Asian, 10.1% White, 63.4% American Indian and Alaska Native, 0.3% | Black or African American, 8.6% Unknown, 4.0% Hispanic or Latino, 10.9% Asian, 15.0% White, 61.1% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 11% | 7% |