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The differences between finance officers and finance coordinators 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 coordinator takes usually requires 4-6 years. Additionally, a finance officer has an average salary of $68,822, which is higher than the $49,358 average annual salary of a finance coordinator.
The top three skills for a finance officer include real estate, financial data and origination. The most important skills for a finance coordinator are patients, customer service, and payroll.
| Finance Officer | Finance Coordinator | |
| Yearly salary | $68,822 | $49,358 |
| Hourly rate | $33.09 | $23.73 |
| Growth rate | 17% | -5% |
| Number of jobs | 140,730 | 106,187 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 58% |
| Average age | 46 | 51 |
| Years of experience | 8 | 6 |
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.
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.
Finance officers and finance coordinators have different pay scales, as shown below.
| Finance Officer | Finance Coordinator | |
| Average salary | $68,822 | $49,358 |
| Salary range | Between $42,000 And $110,000 | Between $34,000 And $71,000 |
| Highest paying City | Boston, MA | Washington, DC |
| Highest paying state | Delaware | Maryland |
| Best paying company | Citi | McKinsey & Company Inc |
| Best paying industry | - | Professional |
There are a few differences between a finance officer and a finance coordinator in terms of educational background:
| Finance Officer | Finance Coordinator | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 58% |
| Most common major | Accounting | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance officers' and finance coordinators' demographics:
| Finance Officer | Finance Coordinator | |
| Average age | 46 | 51 |
| Gender ratio | Male, 52.7% Female, 47.3% | Male, 22.1% Female, 77.9% |
| 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, 6.8% Unknown, 4.0% Hispanic or Latino, 14.4% Asian, 6.5% White, 67.7% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 11% | 7% |