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The differences between finance officers and finance directors 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 director. Additionally, a finance director has an average salary of $118,518, 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 director are CPA, financial analysis, and payroll.
| Finance Officer | Finance Director | |
| Yearly salary | $68,822 | $118,518 |
| Hourly rate | $33.09 | $56.98 |
| Growth rate | 17% | 17% |
| Number of jobs | 140,730 | 90,012 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 71% |
| 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 finance director's role is to oversee all financial activities and aspects of a company or organization. One of their duties is to gather necessary financial data and cultivate reports on essential matters such as revenue and budget, provide risk assessments and estimates, implement vital policies, and allocate funds within the company. Furthermore, a finance director must also devise strategies and recommend innovative methods for financial gains, while in adherence to the organization's policies and regulations.
Finance officers and finance directors have different pay scales, as shown below.
| Finance Officer | Finance Director | |
| Average salary | $68,822 | $118,518 |
| Salary range | Between $42,000 And $110,000 | Between $76,000 And $183,000 |
| Highest paying City | Boston, MA | Palo Alto, CA |
| Highest paying state | Delaware | California |
| Best paying company | Citi | Meta |
| Best paying industry | - | Manufacturing |
There are a few differences between a finance officer and a finance director in terms of educational background:
| Finance Officer | Finance Director | |
| 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 finance directors' demographics:
| Finance Officer | Finance Director | |
| Average age | 46 | 46 |
| Gender ratio | Male, 52.7% Female, 47.3% | Male, 65.1% Female, 34.9% |
| 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, 7.6% Unknown, 4.1% Hispanic or Latino, 14.5% Asian, 9.4% White, 64.1% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |