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The differences between tax analysts and corporate finance analysts can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 1-2 years to become a tax analyst, becoming a corporate finance analyst takes usually requires 2-4 years. Additionally, a corporate finance analyst has an average salary of $76,023, which is higher than the $61,745 average annual salary of a tax analyst.
The top three skills for a tax analyst include tax audits, reconciliations and tax compliance. The most important skills for a corporate finance analyst are financial analysis, strong analytical, and financial models.
| Tax Analyst | Corporate Finance Analyst | |
| Yearly salary | $61,745 | $76,023 |
| Hourly rate | $29.69 | $36.55 |
| Growth rate | -7% | 9% |
| Number of jobs | 56,223 | 114,375 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 76% |
| Average age | 48 | 40 |
| Years of experience | 2 | 4 |
A tax analyst specializes in managing and filing tax forms and tax returns, all while devising strategies to reduce tax payments legally. A tax analyst may work as a member of a company or independently. Moreover, in a company setting, the responsibilities of a tax analyst revolve around coordinating with different departments to obtain all necessary documentation and financial information, maintaining accurate and extensive records of all transactions, and resolving any issues or concerns. Furthermore, it is essential to remain updated with all the tax laws, all while adhering to the policies and regulations of the company.
Corporate finance analysts make significant business decisions based on the data they gather. Typically, corporate finance analysts work within an organization and support management decisions through actionable financial information. They monitor the taxes, expenses, financial statements, and other financial details of where the company sources its income. This position requires a formal qualification in accounting. It also necessitates the analyst to develop interpersonal skills, knowledge in information technology software, financial reporting skills, and experience in management.
Tax analysts and corporate finance analysts have different pay scales, as shown below.
| Tax Analyst | Corporate Finance Analyst | |
| Average salary | $61,745 | $76,023 |
| Salary range | Between $43,000 And $87,000 | Between $52,000 And $109,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | Maine | Michigan |
| Best paying company | Meta | |
| Best paying industry | Technology | Finance |
There are a few differences between a tax analyst and a corporate finance analyst in terms of educational background:
| Tax Analyst | Corporate Finance Analyst | |
| Most common degree | Bachelor's Degree, 70% | Bachelor's Degree, 76% |
| Most common major | Accounting | Business |
| Most common college | University of Southern California | University of Pennsylvania |
Here are the differences between tax analysts' and corporate finance analysts' demographics:
| Tax Analyst | Corporate Finance Analyst | |
| Average age | 48 | 40 |
| Gender ratio | Male, 42.9% Female, 57.1% | Male, 63.5% Female, 36.5% |
| Race ratio | Black or African American, 13.1% Unknown, 3.4% Hispanic or Latino, 15.6% Asian, 11.1% White, 56.6% American Indian and Alaska Native, 0.3% | 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 | 8% | 7% |