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The differences between reconciliation analysts and finance analysts can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a reconciliation analyst and a finance analyst. Additionally, a finance analyst has an average salary of $69,887, which is higher than the $55,716 average annual salary of a reconciliation analyst.
The top three skills for a reconciliation analyst include reconciliations, portfolio and reconciliation process. The most important skills for a finance analyst are financial analysis, financial models, and financial data.
| Reconciliation Analyst | Finance Analyst | |
| Yearly salary | $55,716 | $69,887 |
| Hourly rate | $26.79 | $33.60 |
| Growth rate | 11% | 9% |
| Number of jobs | 59,659 | 138,600 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 76% |
| Average age | 44 | 40 |
| Years of experience | 4 | 4 |
A reconciliation analyst is responsible for resolving transaction discrepancies between institutions, especially in financial and business records. Reconciliation analysts conduct audits on reports to identify gaps and inconsistencies and escalate it to the reconciliation supervisor for resolution recommendation. They also review account statements, update information on the database, and coordinate with other departments for the necessary filing of documents. A reconciliation analyst must have excellent analytical and critical-thinking skills, especially in providing immediate solutions to clients by adhering to the company's requirements and regulations.
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.
Reconciliation analysts and finance analysts have different pay scales, as shown below.
| Reconciliation Analyst | Finance Analyst | |
| Average salary | $55,716 | $69,887 |
| Salary range | Between $39,000 And $79,000 | Between $46,000 And $104,000 |
| Highest paying City | Boston, MA | San Francisco, CA |
| Highest paying state | Massachusetts | Connecticut |
| Best paying company | J.P. Morgan | The Citadel |
| Best paying industry | Finance | Finance |
There are a few differences between a reconciliation analyst and a finance analyst in terms of educational background:
| Reconciliation Analyst | Finance Analyst | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | Northwestern University | University of Pennsylvania |
Here are the differences between reconciliation analysts' and finance analysts' demographics:
| Reconciliation Analyst | Finance Analyst | |
| Average age | 44 | 40 |
| Gender ratio | Male, 38.0% Female, 62.0% | Male, 56.2% Female, 43.8% |
| Race ratio | Black or African American, 8.1% Unknown, 4.5% Hispanic or Latino, 8.9% Asian, 11.4% White, 66.9% American Indian and Alaska Native, 0.2% | 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 | 12% | 7% |