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The differences between portfolio accountants and tax accountants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a portfolio accountant and a tax accountant. Additionally, a portfolio accountant has an average salary of $69,877, which is higher than the $62,142 average annual salary of a tax accountant.
The top three skills for a portfolio accountant include reconciliations, financial reports and real estate. The most important skills for a tax accountant are CPA, tax audits, and income tax returns.
| Portfolio Accountant | Tax Accountant | |
| Yearly salary | $69,877 | $62,142 |
| Hourly rate | $33.59 | $29.88 |
| Growth rate | 6% | 6% |
| Number of jobs | 41,323 | 57,919 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 84% | Bachelor's Degree, 72% |
| Average age | 44 | 44 |
| Years of experience | 4 | 4 |
Portfolio accountants must have effective communication and time management skills in addition to a bachelor's degree in accounting. They maintain and improve processes and systems by keeping and compiling records on monthly and quarterly reports. They also prepare financial statements, assist in fund pricing, and calculate losses, profits, and net asset values.
A tax accountant is an individual who works with clients to produce tax return documents that follow tax laws and regulations while keeping them updated on their return information. Tax accountants must determine tax strategies for their clients that may minimize or eliminate tax payments while arranging audits with taxation authorities. They prepare tax documents for different clients, including private companies, non-profit organizations, and private individuals. Tax accountants are also required to obtain a bachelor's degree in accounting and should understand business concepts.
Portfolio accountants and tax accountants have different pay scales, as shown below.
| Portfolio Accountant | Tax Accountant | |
| Average salary | $69,877 | $62,142 |
| Salary range | Between $47,000 And $102,000 | Between $45,000 And $83,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | AQR Capital Management | Pacific Investment Management Company LLC |
| Best paying industry | Finance | Finance |
There are a few differences between a portfolio accountant and a tax accountant in terms of educational background:
| Portfolio Accountant | Tax Accountant | |
| Most common degree | Bachelor's Degree, 84% | Bachelor's Degree, 72% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between portfolio accountants' and tax accountants' demographics:
| Portfolio Accountant | Tax Accountant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 58.1% Female, 41.9% | Male, 47.3% Female, 52.7% |
| Race ratio | Black or African American, 7.6% Unknown, 3.9% Hispanic or Latino, 9.9% Asian, 17.9% White, 60.3% American Indian and Alaska Native, 0.5% | Black or African American, 8.2% Unknown, 3.9% Hispanic or Latino, 10.5% Asian, 15.5% White, 61.4% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 7% | 7% |