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The differences between finance officers and finance specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a finance officer has an average salary of $68,822, which is higher than the $61,666 average annual salary of a finance specialist.
The top three skills for a finance officer include real estate, financial data and origination. The most important skills for a finance specialist are customer service, phone calls, and cash handling.
| Finance Officer | Finance Specialist | |
| Yearly salary | $68,822 | $61,666 |
| Hourly rate | $33.09 | $29.65 |
| Growth rate | 17% | 10% |
| Number of jobs | 140,730 | 97,216 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 62% |
| Average age | 46 | 43 |
| Years of experience | 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 or finance specialist is the person who sells products and services at financial institutions. Finance specialists are financial professionals who use knowledge of accounting, tax laws, and finance for financial assistance. They may assist clients with corporate or personal finances. The primary skills they must have include interpersonal skills, formal accounting, excellent communication skills, management experience, and financial reporting. They should be equipped with vital customer service and analytical skills.
Finance officers and finance specialists have different pay scales, as shown below.
| Finance Officer | Finance Specialist | |
| Average salary | $68,822 | $61,666 |
| Salary range | Between $42,000 And $110,000 | Between $37,000 And $100,000 |
| Highest paying City | Boston, MA | Washington, DC |
| Highest paying state | Delaware | Connecticut |
| Best paying company | Citi | |
| Best paying industry | - | Finance |
There are a few differences between a finance officer and a finance specialist in terms of educational background:
| Finance Officer | Finance Specialist | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 62% |
| Most common major | Accounting | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance officers' and finance specialists' demographics:
| Finance Officer | Finance Specialist | |
| Average age | 46 | 43 |
| Gender ratio | Male, 52.7% Female, 47.3% | Male, 42.1% Female, 57.9% |
| 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, 8.6% Unknown, 3.9% Hispanic or Latino, 9.6% Asian, 10.0% White, 67.6% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 4% |