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The differences between tax accountants and finance advisors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a tax accountant and a finance advisor. Additionally, a finance advisor has an average salary of $64,993, which is higher than the $62,142 average annual salary of a tax accountant.
The top three skills for a tax accountant include CPA, tax audits and income tax returns. The most important skills for a finance advisor are team support, wealth management, and securities.
| Tax Accountant | Finance Advisor | |
| Yearly salary | $62,142 | $64,993 |
| Hourly rate | $29.88 | $31.25 |
| Growth rate | 6% | 15% |
| Number of jobs | 57,919 | 106,311 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 74% |
| Average age | 44 | 45 |
| Years of experience | 4 | 4 |
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.
A Financial Advisor specializes in sharing their expertise with an individual or company on how to handle and boost finances. The responsibilities of a Financial Advisor include creating and proposing a strategy to attain financial gains through profits and investments, educating the client about new methods and opportunities, monitor and evaluate progress, and as well as plan policies according to the clients' life changes. Furthermore, it is also the duty of the Financial Advisor to research new investments that would be of great help to the client's assets.
Tax accountants and finance advisors have different pay scales, as shown below.
| Tax Accountant | Finance Advisor | |
| Average salary | $62,142 | $64,993 |
| Salary range | Between $45,000 And $83,000 | Between $34,000 And $121,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Pacific Investment Management Company LLC | Enbridge |
| Best paying industry | Finance | Finance |
There are a few differences between a tax accountant and a finance advisor in terms of educational background:
| Tax Accountant | Finance Advisor | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 74% |
| Most common major | Accounting | Business |
| Most common college | University of Pennsylvania | University of Minnesota - Twin Cities |
Here are the differences between tax accountants' and finance advisors' demographics:
| Tax Accountant | Finance Advisor | |
| Average age | 44 | 45 |
| Gender ratio | Male, 47.3% Female, 52.7% | Male, 72.3% Female, 27.7% |
| Race ratio | 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% | Black or African American, 5.6% Unknown, 4.4% Hispanic or Latino, 9.5% Asian, 8.3% White, 72.1% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 5% |