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The differences between finance officers and finance controllers 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 officer and a finance controller. Additionally, a finance controller has an average salary of $105,869, 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 controller are CPA, payroll, and financial controller.
| Finance Officer | Finance Controller | |
| Yearly salary | $68,822 | $105,869 |
| Hourly rate | $33.09 | $50.90 |
| Growth rate | 17% | 17% |
| Number of jobs | 140,730 | 97,342 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 70% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
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 financial controller is primarily in charge of the daily finance activities and accounting functions of a company. Their responsibilities typically revolve around preparing and organizing financial reports, analyzing data and looking out for any discrepancies or inconsistencies, and overseeing the company's overall revenues and expenditures. A financial controller must also maintain documentation, participate in risk assessment and budgeting activities, and develop strategies for profit growth. Furthermore, one must coordinate with other department staff to ensure accuracy, all while implementing the company's policies and regulations.
Finance officers and finance controllers have different pay scales, as shown below.
| Finance Officer | Finance Controller | |
| Average salary | $68,822 | $105,869 |
| Salary range | Between $42,000 And $110,000 | Between $71,000 And $156,000 |
| Highest paying City | Boston, MA | Yonkers, NY |
| Highest paying state | Delaware | New York |
| Best paying company | Citi | Sage Memorial Hospital |
| Best paying industry | - | Technology |
There are a few differences between a finance officer and a finance controller in terms of educational background:
| Finance Officer | Finance Controller | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 70% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance officers' and finance controllers' demographics:
| Finance Officer | Finance Controller | |
| Average age | 46 | 46 |
| Gender ratio | Male, 52.7% Female, 47.3% | Male, 61.5% Female, 38.5% |
| 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, 7.6% Unknown, 4.1% Hispanic or Latino, 14.5% Asian, 10.2% White, 63.2% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |