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The differences between finance officers and finance management 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 management analyst takes usually requires 2-4 years. Additionally, a finance management analyst has an average salary of $71,934, 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 management analyst are financial management, financial issues, and management reports.
| Finance Officer | Finance Management Analyst | |
| Yearly salary | $68,822 | $71,934 |
| Hourly rate | $33.09 | $34.58 |
| Growth rate | 17% | 11% |
| Number of jobs | 140,730 | 184,284 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 72% |
| Average age | 46 | 44 |
| 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 management analyst specializes in performing extensive research and analysis to devise strategies that can help a company achieve its long-term financial goals. Their responsibilities typically revolve around having an in-depth understanding of the company and its services, gathering and reviewing its financial history and other portfolios, and determining investment opportunities to earn a significant profit. Furthermore, a finance management analyst must report their findings and present action plans, providing a comprehensive explanation to officials, all while adhering to the company's policies and regulations.
Finance officers and finance management analysts have different pay scales, as shown below.
| Finance Officer | Finance Management Analyst | |
| Average salary | $68,822 | $71,934 |
| Salary range | Between $42,000 And $110,000 | Between $49,000 And $104,000 |
| Highest paying City | Boston, MA | Washington, DC |
| Highest paying state | Delaware | New York |
| Best paying company | Citi | Apple |
| Best paying industry | - | Government |
There are a few differences between a finance officer and a finance management analyst in terms of educational background:
| Finance Officer | Finance Management Analyst | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 72% |
| Most common major | Accounting | Business |
| Most common college | University of Pennsylvania | Northwestern University |
Here are the differences between finance officers' and finance management analysts' demographics:
| Finance Officer | Finance Management Analyst | |
| Average age | 46 | 44 |
| Gender ratio | Male, 52.7% Female, 47.3% | Male, 54.2% Female, 45.8% |
| 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, 7.6% Unknown, 4.5% Hispanic or Latino, 8.6% Asian, 14.3% White, 64.8% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 11% | 12% |