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The differences between finance specialists and cash application specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a finance specialist has an average salary of $61,666, which is higher than the $37,558 average annual salary of a cash application specialist.
The top three skills for a finance specialist include customer service, phone calls and cash handling. The most important skills for a cash application specialist are customer service, cash application, and patients.
| Finance Specialist | Cash Application Specialist | |
| Yearly salary | $61,666 | $37,558 |
| Hourly rate | $29.65 | $18.06 |
| Growth rate | 10% | -5% |
| Number of jobs | 97,216 | 63,925 |
| Job satisfaction | - | 4 |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 44% |
| Average age | 43 | 51 |
| Years of experience | - | 6 |
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.
Cash Application Specialists handle a variety of tasks related to company finances. They manage the organization of the company's financial records and oversee the overall cash inflow. They may also be assigned to handle payment collection, preparation of invoices, and receipts' issuance. They manage their relationship with their counterparts in client organizations to ensure a harmonious work relationship. This will help them follow up payments, communicate better, and resolve any concerns. Cash application specialists are also in charge of updating client records and ensuring that clients' payments are accurate. They also process refunds and facilitate other financial transactions.
Finance specialists and cash application specialists have different pay scales, as shown below.
| Finance Specialist | Cash Application Specialist | |
| Average salary | $61,666 | $37,558 |
| Salary range | Between $37,000 And $100,000 | Between $29,000 And $48,000 |
| Highest paying City | Washington, DC | Washington, DC |
| Highest paying state | Connecticut | Delaware |
| Best paying company | Datamatics | |
| Best paying industry | Finance | Transportation |
There are a few differences between a finance specialist and a cash application specialist in terms of educational background:
| Finance Specialist | Cash Application Specialist | |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 44% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance specialists' and cash application specialists' demographics:
| Finance Specialist | Cash Application Specialist | |
| Average age | 43 | 51 |
| Gender ratio | Male, 42.1% Female, 57.9% | Male, 19.3% Female, 80.7% |
| Race ratio | 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% | Black or African American, 6.8% Unknown, 4.0% Hispanic or Latino, 14.5% Asian, 6.6% White, 67.5% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 4% | 7% |