Finance Associate Salary
Job Description for Finance Associate
Finance associates perform a variety of accounting and financial duties for their organization. They are responsible for coordinating budget preparation, program narratives, and projections. They assist managers with creation of financial proposals, as well as plan and execute analyses such as for operational and capital budgets. Finance associates create statistical reports based on costs analyses and other relevant information. As needed, they must provide effective business analysis on subjects determined by management. Finance associates also administer fixed asset accounts and capital expenditures, as well as contextualize preliminary analyses for their supervisor and assist with work flow improvements throughout their organization.Read More...
Finance associates must review accounting transactions and ensure their completeness and accuracy. These professionals also serve as a liaison to other departments for accounting-related matters, as well as identify discrepancies in documents and reports. They reconcile data in financial statements, run complex financial reports, and prepare basic management information records. Generally, finance associates present their progress to the finance manager in their department.
A bachelor's degree in accounting, economics, finance, or a related field is required for this position. Previous experience in a similar role may be preferred. Finance associates must work well with colleagues, as well as on their own with minimal supervision. They should be well organized and have advanced problem-solving skills, as well as be able to work in a fast-paced environment. These associates should also possess excellent interpersonal skills to communicate with supervisors and colleagues, and they must be proficient with basic financial software.
Finance Associate Tasks
- Collect and analyze data to assist in corporate financial decisions.
- Ensure compliance with standard practices and protocols within the industry.
- Identify and advise on new investment opportunities for the company.
- Assist in determining and negotiating the financial aspects of mergers and acquisitions.
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Popular Skills for Finance Associate
Survey results suggest that Finance Associates put a wide range of professional skills to use. Most notably, facility with Financial Modeling, Financial Analysis, and Financial Reporting are correlated to pay that is significantly above average, leading to increases of 49 percent, 15 percent, and 5 percent, respectively. Those listing Microsoft Office as a skill should be prepared for drastically lower pay. Data Entry and Accounts Receivable also typically command lower compensation. It is often found that people who know Financial Analysis are also skilled in Financial Reporting and Accounting.
Pay by Experience Level for Finance Associate
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Those in the early stages of their career can expect to make around $55K; however, individuals with five to 10 years of experience bring in $73K on average — a distinctly larger sum. Finance Associates see a median salary of $52K after reaching one to two decades on the job. Big financial gains seem to result from working for more than two decades; veterans in this group report earning $50K on average.
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Rated 4 out of 5
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