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The differences between finance specialists and finance administrators 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 $55,541 average annual salary of a finance administrator.
The top three skills for a finance specialist include customer service, phone calls and cash handling. The most important skills for a finance administrator are customer service, financial aid, and powerpoint.
| Finance Specialist | Finance Administrator | |
| Yearly salary | $61,666 | $55,541 |
| Hourly rate | $29.65 | $26.70 |
| Growth rate | 10% | 17% |
| Number of jobs | 97,216 | 130,256 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 61% |
| Average age | 43 | 46 |
| Years of experience | - | 8 |
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.
A finance administrator is responsible for supporting the financial operations of an organization, handling the accuracy of financial transactions, and resolving discrepancies in the company's financial statements. Finance administrators analyze the company's financial performance, including its losses and revenues, writing financial reports, and providing recommendations for cost-reduction processes to minimize financial risks. They also handle the allocation of departmental budgets, assist in tax audits, and process invoices and payroll release. A finance administrator must have excellent analytical skills and an extensive knowledge of the financial industry.
Finance specialists and finance administrators have different pay scales, as shown below.
| Finance Specialist | Finance Administrator | |
| Average salary | $61,666 | $55,541 |
| Salary range | Between $37,000 And $100,000 | Between $38,000 And $80,000 |
| Highest paying City | Washington, DC | Dover, DE |
| Highest paying state | Connecticut | Delaware |
| Best paying company | State Street | |
| Best paying industry | Finance | Manufacturing |
There are a few differences between a finance specialist and a finance administrator in terms of educational background:
| Finance Specialist | Finance Administrator | |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance specialists' and finance administrators' demographics:
| Finance Specialist | Finance Administrator | |
| Average age | 43 | 46 |
| Gender ratio | Male, 42.1% Female, 57.9% | Male, 29.3% Female, 70.7% |
| 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, 7.7% Unknown, 4.1% Hispanic or Latino, 14.8% Asian, 9.2% White, 63.9% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 4% | 11% |