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The differences between wealth management advisors and corporate 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 wealth management advisor and a corporate finance analyst. Additionally, a wealth management advisor has an average salary of $91,605, which is higher than the $76,023 average annual salary of a corporate finance analyst.
The top three skills for a wealth management advisor include customer service, insurance products and securities. The most important skills for a corporate finance analyst are financial analysis, strong analytical, and financial models.
| Wealth Management Advisor | Corporate Finance Analyst | |
| Yearly salary | $91,605 | $76,023 |
| Hourly rate | $44.04 | $36.55 |
| Growth rate | 15% | 9% |
| Number of jobs | 127,946 | 114,375 |
| Job satisfaction | 4 | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 76% |
| Average age | 45 | 40 |
| Years of experience | 4 | 4 |
As a wealth management advisor, you will be responsible for advising and guiding clients on financial plans using your knowledge and expertise on investment and tax strategies, pension plans, insurance, real estate, and securities. You will be regularly checking clients to re-evaluate their situation and future financial goals. Additionally, you are responsible for assessing clients' tolerance for risk and providing an investment strategy to help them reach these goals. Other duties and responsibilities may include coordinating with your lawyers or accountants to minimize the tax owed by their clients and assisting clients with estate planning strategies.
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.
Wealth management advisors and corporate finance analysts have different pay scales, as shown below.
| Wealth Management Advisor | Corporate Finance Analyst | |
| Average salary | $91,605 | $76,023 |
| Salary range | Between $49,000 And $168,000 | Between $52,000 And $109,000 |
| Highest paying City | New York, NY | San Francisco, CA |
| Highest paying state | Massachusetts | Michigan |
| Best paying company | Capital Group | |
| Best paying industry | Finance | Finance |
There are a few differences between a wealth management advisor and a corporate finance analyst in terms of educational background:
| Wealth Management Advisor | Corporate Finance Analyst | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Minnesota - Twin Cities | University of Pennsylvania |
Here are the differences between wealth management advisors' and corporate finance analysts' demographics:
| Wealth Management Advisor | Corporate Finance Analyst | |
| Average age | 45 | 40 |
| Gender ratio | Male, 69.1% Female, 30.9% | Male, 63.5% Female, 36.5% |
| Race ratio | Black or African American, 5.6% Unknown, 4.4% Hispanic or Latino, 9.4% Asian, 8.3% White, 72.2% American Indian and Alaska Native, 0.1% | 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 | 5% | 7% |