Finance Assistant Salary
Job Description for Finance Assistant
Finance assistants are tasked with collecting and classifying financial information from all departments of a company to prepare periodic reports for each. They may also oversee standard security procedures for handling the firm's sensitive financial information and maintain data privacy in financial and information technology (IT) equipment information.Read More...
Finance assistants may be held accountable for any decisions made based on the data contained in their reports, which often represent lines of communication between different departments within the firm, and many company decisions are made based upon them. They must also establish and maintain communication with all departments within the company.
A bachelor's degree in business administration or a related field is generally required for this position, and some employers also require at least two years of relevant experience. Finance assistants must also be able to analyze financial information, handle complex numerical calculations, and manage personal computers and programmable calculators.
Finance Assistant Tasks
- Record daily entries and reconcile account balances.
- Record and perform payroll bookkeeping, cost classification, billing, and/or reporting.
- Detect and fix errors with tracking, auditing, data entry, and calculations.
- Calculate and analyze financial data to meet short and long-term requests.
Common Career Paths for Finance Assistant
Finance Assistants who move on to become Finance Managers may enjoy significant pay raises, as Finance Managers get paid an average of $85K per year. It is quite typical for Finance Assistants to transition into roles as Accountants or Staff Accountants, where reported median earnings are $9K and $9K higher per year.
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Popular Skills for Finance Assistant
Survey respondents exploit a significant toolbox of skills in their work. Most notably, skills in Data Entry, Payroll Administration, Financial Analysis, and Microsoft Office are correlated to pay that is above average. Skills that pay less than market rate include Accounting. Most people experienced in Microsoft Excel also know Microsoft Office and Accounts Receivable. Most people familiar with Accounts Payable also know Accounts Receivable and Microsoft Office.
Pay by Experience Level for Finance Assistant
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Although individuals who have less than five years' experience earn $34K on average, people with five to 10 years benefit from a notably larger average of $36K. People with 10 to 20 years of experience make an average of about $38K in this role. Finance Assistants who claim more than two decades of experience actually make somewhat smaller average paychecks of $37K.
Pay Difference by Location
Surpassing the national average by 35 percent, Finance Assistants in Washington receive some of the highest pay in the country. Finance Assistants can also look forward to large paychecks in cities like New York (+25 percent), Houston (+21 percent), Sacramento (+17 percent), and Los Angeles (+17 percent). Those in the field find the lowest salaries in Atlanta, 18 percent below the national average. Workers in Miami and San Diego earn salaries that trail the national average for those in this profession (8 percent less and 1 percent less, respectively).
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Key Stats for Finance Assistant
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