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The differences between finance technicians and finance coordinators can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a finance technician and a finance coordinator. Additionally, a finance coordinator has an average salary of $49,358, which is higher than the $45,251 average annual salary of a finance technician.
The top three skills for a finance technician include financial reports, financial management and review contracts. The most important skills for a finance coordinator are patients, customer service, and payroll.
| Finance Technician | Finance Coordinator | |
| Yearly salary | $45,251 | $49,358 |
| Hourly rate | $21.76 | $23.73 |
| Growth rate | -5% | -5% |
| Number of jobs | 89,668 | 106,187 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 48% | Bachelor's Degree, 58% |
| Average age | 51 | 51 |
| Years of experience | 6 | 6 |
Finance technicians are professionals who perform various tasks that are related to financial accounting for an organization. These technicians are required to provide monthly transaction reports and perform forecasts on their future budget requirements to ensure proper financial management for the organization. They must assist in preparing financial statements to analyze and summarize accounting data for the organization's senior management. Finance technicians must also research and resolve any disputes that involve financial transactions while informing the senior management about any financial discrepancies.
Finance coordinators are skilled professionals who are employed by all types of industries to manage their financial records accurately. Under the supervision of financial managers, they correlate the company's accounts receivables and payables. They should be able to keep records together with documentation effectively to ensure precision and punctuality of deliverables. Their responsibilities include ensuring accurate billing of customers, managing billing issues and disputes, and making required adjustments to clients' accounts. Candidates for the job must be organized, detail-oriented, able to multi-task as well as cautiously handle sensitive information.
Finance technicians and finance coordinators have different pay scales, as shown below.
| Finance Technician | Finance Coordinator | |
| Average salary | $45,251 | $49,358 |
| Salary range | Between $30,000 And $67,000 | Between $34,000 And $71,000 |
| Highest paying City | New York, NY | Washington, DC |
| Highest paying state | New York | Maryland |
| Best paying company | Ernst & Young | McKinsey & Company Inc |
| Best paying industry | Government | Professional |
There are a few differences between a finance technician and a finance coordinator in terms of educational background:
| Finance Technician | Finance Coordinator | |
| Most common degree | Bachelor's Degree, 48% | Bachelor's Degree, 58% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance technicians' and finance coordinators' demographics:
| Finance Technician | Finance Coordinator | |
| Average age | 51 | 51 |
| Gender ratio | Male, 41.2% Female, 58.8% | Male, 22.1% Female, 77.9% |
| Race ratio | Black or African American, 6.8% Unknown, 4.0% Hispanic or Latino, 14.4% Asian, 6.5% White, 67.8% American Indian and Alaska Native, 0.6% | Black or African American, 6.8% Unknown, 4.0% Hispanic or Latino, 14.4% Asian, 6.5% White, 67.7% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 7% | 7% |