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The differences between finance officers and staff accountants 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 staff accountant takes usually requires 2-4 years. Additionally, a finance officer has an average salary of $68,822, which is higher than the $54,216 average annual salary of a staff accountant.
The top three skills for a finance officer include real estate, financial data and origination. The most important skills for a staff accountant are reconciliations, account reconciliations, and GAAP.
| Finance Officer | Staff Accountant | |
| Yearly salary | $68,822 | $54,216 |
| Hourly rate | $33.09 | $26.07 |
| Growth rate | 17% | 6% |
| Number of jobs | 140,730 | 115,930 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 76% |
| 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.
Staff accountants are employees who are part of the company's accounting department. They are usually certified public accountants (CPAs). Staff accountants should be familiar with accounting tasks. Previous accounting experiences play a huge advantage in their success. They perform a variety of accounting responsibilities such as information verification and analysis, financial report preparation and presentation, financial account reconciliation, billing and payment receiving activities, vendor database management, and invoice processing requirements. They should also know how to do bookkeeping. Staff accountants should have good communication skills, analytical skills, and decision-making skills. They should also be organized and trustworthy since they will be handling confidential information.
Finance officers and staff accountants have different pay scales, as shown below.
| Finance Officer | Staff Accountant | |
| Average salary | $68,822 | $54,216 |
| Salary range | Between $42,000 And $110,000 | Between $42,000 And $68,000 |
| Highest paying City | Boston, MA | Washington, DC |
| Highest paying state | Delaware | New York |
| Best paying company | Citi | Meta |
| Best paying industry | - | Government |
There are a few differences between a finance officer and a staff accountant in terms of educational background:
| Finance Officer | Staff Accountant | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 76% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance officers' and staff accountants' demographics:
| Finance Officer | Staff Accountant | |
| Average age | 46 | 44 |
| Gender ratio | Male, 52.7% Female, 47.3% | Male, 41.6% Female, 58.4% |
| 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, 8.5% Unknown, 4.0% Hispanic or Latino, 10.8% Asian, 14.4% White, 61.9% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 11% | 7% |