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The differences between staff accountants 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 staff accountant and a finance analyst. Additionally, a finance analyst has an average salary of $69,887, which is higher than the $54,216 average annual salary of a staff accountant.
The top three skills for a staff accountant include reconciliations, account reconciliations and GAAP. The most important skills for a finance analyst are financial analysis, financial models, and financial data.
| Staff Accountant | Finance Analyst | |
| Yearly salary | $54,216 | $69,887 |
| Hourly rate | $26.07 | $33.60 |
| Growth rate | 6% | 9% |
| Number of jobs | 115,930 | 138,600 |
| Job satisfaction | 4 | - |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 76% |
| Average age | 44 | 40 |
| Years of experience | 4 | 4 |
Staff accountants are employees who are part of the company's accounting department. They are usually certified public accountants (CPAs). Staff accountants should be familiar with accounting tasks. Previous accounting experiences play a huge advantage in their success. They perform a variety of accounting responsibilities such as information verification and analysis, financial report preparation and presentation, financial account reconciliation, billing and payment receiving activities, vendor database management, and invoice processing requirements. They should also know how to do bookkeeping. Staff accountants should have good communication skills, analytical skills, and decision-making skills. They should also be organized and trustworthy since they will be handling confidential information.
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.
Staff accountants and finance analysts have different pay scales, as shown below.
| Staff Accountant | Finance Analyst | |
| Average salary | $54,216 | $69,887 |
| Salary range | Between $42,000 And $68,000 | Between $46,000 And $104,000 |
| Highest paying City | Washington, DC | San Francisco, CA |
| Highest paying state | New York | Connecticut |
| Best paying company | Meta | The Citadel |
| Best paying industry | Government | Finance |
There are a few differences between a staff accountant and a finance analyst in terms of educational background:
| Staff Accountant | Finance Analyst | |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 76% |
| Most common major | Accounting | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between staff accountants' and finance analysts' demographics:
| Staff Accountant | Finance Analyst | |
| Average age | 44 | 40 |
| Gender ratio | Male, 41.6% Female, 58.4% | Male, 56.2% Female, 43.8% |
| Race ratio | Black or African American, 8.5% Unknown, 4.0% Hispanic or Latino, 10.8% Asian, 14.4% White, 61.9% American Indian and Alaska Native, 0.5% | 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 | 7% | 7% |