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The differences between finance officers and finance analysts 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 a finance analyst takes usually requires 2-4 years. Additionally, a finance analyst has an average salary of $69,887, which is higher than the $68,822 average annual salary of a finance officer.
The top three skills for a finance officer include real estate, financial data and origination. The most important skills for a finance analyst are financial analysis, financial models, and financial data.
| Finance Officer | Finance Analyst | |
| Yearly salary | $68,822 | $69,887 |
| Hourly rate | $33.09 | $33.60 |
| Growth rate | 17% | 9% |
| Number of jobs | 140,730 | 138,600 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 76% |
| Average age | 46 | 40 |
| 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.
A finance analyst is responsible for evaluating a company's financial data and historical reports to assess investment opportunities and provide accurate financial statements in support of business strategies and company performance prediction. A financial analyst's duties also include suggesting recommendations to boost operations efficiency and grow revenues, researching the current market performance and economic trends to adjust budget goals as needed, and managing client portfolios. Finance analysts must have excellent critical and analytical thinking skills to identify the best actions for the company's profitability.
Finance officers and finance analysts have different pay scales, as shown below.
| Finance Officer | Finance Analyst | |
| Average salary | $68,822 | $69,887 |
| Salary range | Between $42,000 And $110,000 | Between $46,000 And $104,000 |
| Highest paying City | Boston, MA | San Francisco, CA |
| Highest paying state | Delaware | Connecticut |
| Best paying company | Citi | The Citadel |
| Best paying industry | - | Finance |
There are a few differences between a finance officer and a finance analyst in terms of educational background:
| Finance Officer | Finance Analyst | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 76% |
| Most common major | Accounting | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance officers' and finance analysts' demographics:
| Finance Officer | Finance Analyst | |
| Average age | 46 | 40 |
| Gender ratio | Male, 52.7% Female, 47.3% | Male, 56.2% Female, 43.8% |
| 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, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 11% | 7% |