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The differences between finance officers and treasurers 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 treasurer. Additionally, a treasurer has an average salary of $80,467, 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 treasurer are payroll, fraternity, and bank accounts.
| Finance Officer | Treasurer | |
| Yearly salary | $68,822 | $80,467 |
| Hourly rate | $33.09 | $38.69 |
| Growth rate | 17% | 17% |
| Number of jobs | 140,730 | 18,358 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 74% |
| 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 treasurer's general duty is to oversee the financial reports and monitor the expenses of the organization. A treasurer is required to demonstrate strong analytical and critical-thinking skills for financial decision-making. The treasurer is also required to keep documentation and deliver regular financial reports to the management. Treasurers are also responsible to study the current status of the organization to be able to provide suggestions on effectively managing expenses. They also need to be familiarized with the regulatory policies and ensure that the use of funds is compliant with the law.
Finance officers and treasurers have different pay scales, as shown below.
| Finance Officer | Treasurer | |
| Average salary | $68,822 | $80,467 |
| Salary range | Between $42,000 And $110,000 | Between $37,000 And $173,000 |
| Highest paying City | Boston, MA | Cambridge, MA |
| Highest paying state | Delaware | Maine |
| Best paying company | Citi | Partners Group LTD |
| Best paying industry | - | Manufacturing |
There are a few differences between a finance officer and a treasurer in terms of educational background:
| Finance Officer | Treasurer | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 74% |
| Most common major | Accounting | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance officers' and treasurers' demographics:
| Finance Officer | Treasurer | |
| Average age | 46 | 46 |
| Gender ratio | Male, 52.7% Female, 47.3% | Male, 48.0% Female, 52.0% |
| 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, 7.6% Unknown, 4.1% Hispanic or Latino, 14.5% Asian, 10.2% White, 63.2% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |