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The differences between finance planners and finance analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a finance planner and a finance analyst. Additionally, a finance planner has an average salary of $71,607, which is higher than the $69,887 average annual salary of a finance analyst.
The top three skills for a finance planner include financial aid, financial services and client facing. The most important skills for a finance analyst are financial analysis, financial models, and financial data.
| Finance Planner | Finance Analyst | |
| Yearly salary | $71,607 | $69,887 |
| Hourly rate | $34.43 | $33.60 |
| Growth rate | 15% | 9% |
| Number of jobs | 91,557 | 138,600 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 76% |
| Average age | 45 | 40 |
| Years of experience | 4 | 4 |
A financial planner is responsible for handling client accounts and providing financial advice to determine the best investment options according to the clients' interests and risk appetite. Financial planners record the clients' living expenses as a part of their portfolio, identifying their long-term goals and objectives, and giving tax advice. They also educate clients with investment options and opportunities to improve the clients' account performance and sell financial products. A financial planner must have excellent analytical and communication skills to conduct data and statistical analysis, especially in researching financial instruments in the market.
A finance analyst is responsible for evaluating a company's financial data and historical reports to assess investment opportunities and provide accurate financial statements in support of business strategies and company performance prediction. A financial analyst's duties also include suggesting recommendations to boost operations efficiency and grow revenues, researching the current market performance and economic trends to adjust budget goals as needed, and managing client portfolios. Finance analysts must have excellent critical and analytical thinking skills to identify the best actions for the company's profitability.
Finance planners and finance analysts have different pay scales, as shown below.
| Finance Planner | Finance Analyst | |
| Average salary | $71,607 | $69,887 |
| Salary range | Between $42,000 And $120,000 | Between $46,000 And $104,000 |
| Highest paying City | Springfield, MA | San Francisco, CA |
| Highest paying state | Massachusetts | Connecticut |
| Best paying company | Northern Trust | The Citadel |
| Best paying industry | Insurance | Finance |
There are a few differences between a finance planner and a finance analyst in terms of educational background:
| Finance Planner | Finance Analyst | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance planners' and finance analysts' demographics:
| Finance Planner | Finance Analyst | |
| Average age | 45 | 40 |
| Gender ratio | Male, 62.0% Female, 38.0% | Male, 56.2% Female, 43.8% |
| Race ratio | Black or African American, 5.7% Unknown, 4.4% Hispanic or Latino, 9.6% Asian, 8.4% White, 71.8% American Indian and Alaska Native, 0.1% | Black or African American, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 5% | 7% |