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The differences between finance specialists and finance planners can be seen in a few details. Each job has different responsibilities and duties. Additionally, a finance planner has an average salary of $71,607, 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 planner are financial aid, financial services, and client facing.
| Finance Specialist | Finance Planner | |
| Yearly salary | $61,666 | $71,607 |
| Hourly rate | $29.65 | $34.43 |
| Growth rate | 10% | 15% |
| Number of jobs | 97,216 | 91,557 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 73% |
| Average age | 43 | 45 |
| 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 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.
Finance specialists and finance planners have different pay scales, as shown below.
| Finance Specialist | Finance Planner | |
| Average salary | $61,666 | $71,607 |
| Salary range | Between $37,000 And $100,000 | Between $42,000 And $120,000 |
| Highest paying City | Washington, DC | Springfield, MA |
| Highest paying state | Connecticut | Massachusetts |
| Best paying company | Northern Trust | |
| Best paying industry | Finance | Insurance |
There are a few differences between a finance specialist and a finance planner in terms of educational background:
| Finance Specialist | Finance Planner | |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 73% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance specialists' and finance planners' demographics:
| Finance Specialist | Finance Planner | |
| Average age | 43 | 45 |
| Gender ratio | Male, 42.1% Female, 57.9% | Male, 62.0% Female, 38.0% |
| 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, 5.7% Unknown, 4.4% Hispanic or Latino, 9.6% Asian, 8.4% White, 71.8% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 4% | 5% |