Billing Analyst Salary
Job Description for Billing Analyst
Billing analysts work in accounting offices, ensuring that invoices and other financial documents are processed appropriately. The billing analyst holds an entry-level accounting position in most employers’ accounting offices. Billing analysts write invoices, get approval for billing, calculate fees that are due, and generally track the accuracy of all billing and invoicing records. This requires extracting financial information from incoming and outgoing billing documents for entry in record-keeping software.Read More...
Billing analysts also have a reporting and communication component to their jobs. They must project income figures and compose reports containing this information for higher-ups. At the end of an accounting cycle, they prepare statements for customers. They also audit customer accounts and communicate any resulting information as necessary. Billing analysts generally work in an office setting during regular business hours.
A bachelor’s degrees in accounting, finance, or a related field is generally required for this position. Employers may require experience in a similar role, as well as relevant certifications. Billing analysts must have a strong knowledge of accounting and financial analysis, and they must be able to adhere to organizational guidelines while working independently. Organizational skills are also important, as billing analysts typically work with many different client accounts. Communication skills are also vital for these analysts to explain relevant billing concepts to clients and non-accounting colleagues effectively.
Billing Analyst Tasks
- Keep updated records of financial transactions and customer account status.
- Review billing reports to ensure accuracy and resolve any errors.
- Calculate the amount customers owe the company and prepare billing statements.
- Generate financial and billing reports according to company guidelines.
Common Career Paths for Billing Analyst
Many Billing Analysts move into a Financial Analyst role, and folks who currently hold that position report a much higher median income of $55K per year. The most common career progression for Billing Analysts leads to becoming a Billing Manager, where average pay is $46K annually. However, many Billing Analysts also opt to become Billing Supervisors. Typically, a Billing Supervisor brings home $42K.
Billing Analyst Job Listings
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Popular Employer Salaries for Billing Analyst
Verizon Communications, Inc. offers the highest compensation with a median salary of $47K.
Popular Skills for Billing Analyst
Billing Analysts seem to require a number of specific skills. Most notably, skills in SQL, Data Analysis, Financial Analysis, and Microsoft Excel are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Data Entry, Accounting, and Microsoft Office. It is often found that people who know Billing are also skilled in Data Analysis.
Pay by Experience Level for Billing Analyst
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Experience and pay tend to be weakly linked for Billing Analysts — those with more experience do not necessarily bring in higher earnings. Relatively untried employees who have less than five years' experience make $42K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $49K. People with 10 to 20 years of experience make an average of about $51K in this role. Billing Analysts with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $52K.