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The differences between finance officers and finance leaders 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 leader. Additionally, a finance leader has an average salary of $117,284, 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 leader are financial analysis, financial management, and business development.
| Finance Officer | Finance Leader | |
| Yearly salary | $68,822 | $117,284 |
| Hourly rate | $33.09 | $56.39 |
| Growth rate | 17% | 17% |
| Number of jobs | 140,730 | 93,582 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 69% |
| 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.
The duties of a finance leader depend on one's place or industry of employment. Typically, their responsibilities revolve around monitoring the sales and financial operations in a company, preparing financial reports and statements, finding new sales opportunities, identifying the market and client needs, and maintaining records of all financial transactions. There are also instances where a finance leader may set and allocate budgets, perform audits in costs and expenditures, all while implementing the company's policies and regulations.
Finance officers and finance leaders have different pay scales, as shown below.
| Finance Officer | Finance Leader | |
| Average salary | $68,822 | $117,284 |
| Salary range | Between $42,000 And $110,000 | Between $78,000 And $174,000 |
| Highest paying City | Boston, MA | San Francisco, CA |
| Highest paying state | Delaware | Oregon |
| Best paying company | Citi | Apple |
| Best paying industry | - | Finance |
There are a few differences between a finance officer and a finance leader in terms of educational background:
| Finance Officer | Finance Leader | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 69% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance officers' and finance leaders' demographics:
| Finance Officer | Finance Leader | |
| Average age | 46 | 46 |
| Gender ratio | Male, 52.7% Female, 47.3% | Male, 60.0% Female, 40.0% |
| 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, 7.5% Unknown, 4.1% Hispanic or Latino, 14.2% Asian, 10.0% White, 63.8% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |