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The differences between finance specialists and finance analysts can be seen in a few details. Each job has different responsibilities and duties. Additionally, a finance analyst has an average salary of $69,887, which is higher than the $61,666 average annual salary of a finance specialist.
The top three skills for a finance specialist include customer service, phone calls and cash handling. The most important skills for a finance analyst are financial analysis, financial models, and financial data.
| Finance Specialist | Finance Analyst | |
| Yearly salary | $61,666 | $69,887 |
| Hourly rate | $29.65 | $33.60 |
| Growth rate | 10% | 9% |
| Number of jobs | 97,216 | 138,600 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 76% |
| Average age | 43 | 40 |
| Years of experience | - | 4 |
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 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 specialists and finance analysts have different pay scales, as shown below.
| Finance Specialist | Finance Analyst | |
| Average salary | $61,666 | $69,887 |
| Salary range | Between $37,000 And $100,000 | Between $46,000 And $104,000 |
| Highest paying City | Washington, DC | San Francisco, CA |
| Highest paying state | Connecticut | Connecticut |
| Best paying company | The Citadel | |
| Best paying industry | Finance | Finance |
There are a few differences between a finance specialist and a finance analyst in terms of educational background:
| Finance Specialist | Finance Analyst | |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance specialists' and finance analysts' demographics:
| Finance Specialist | Finance Analyst | |
| Average age | 43 | 40 |
| Gender ratio | Male, 42.1% Female, 57.9% | Male, 56.2% Female, 43.8% |
| 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, 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 | 4% | 7% |