Financial Analyst Accountant Salary
Financial Analyst Accountants in the United States pull down an average of $58K annually. Geography is the biggest factor affecting pay for this group, followed by tenure. For the most part, people in this position report moderate levels of job satisfaction. Medical benefits are awarded to most, and the larger part earn dental coverage. Male Financial Analyst Accountants are just a bit more common among those who completed the questionnaire than females ones, with male workers composing 50 percent of the field. The data in this summary comes from the PayScale salary survey.
Job Description for Financial Analyst Accountant
Financial analyst accountants are accountants who generally work for only one company - as opposed to public accountants, who serve many clients. An FAA is in charge of financial planning and forecasting economic and market situations for his/her company and its future interests. They typically work with numbers in corporate settings and spend a lot of time indoors and sitting at a desk working with numbers and formulas.Read More...
Financial analysts are typically employed by client companies which work with a large number of their own clients and may have other accountants who are focused on specific accounts; therefore, the FAA must bring all of these accounts together and merge them into company-specific goals, strategies, and information. These accountants also work directly with the organization’s Chief Financial Analyst to create annual forecasts and budgets for the company, as well as develop month-to-month forecasts and budgets. FAAs use this data to analyze results on a monthly basis and often serve as points of contact between the executive team and the accounting branch of the organization.
A bachelor’s degree in accounting, finance, or a related field is generally required for this position. Some employers may prefer applicants who hold certification as CPAs, while others may prefer applicants with prior accounting experience.
Financial Analyst Accountant Tasks
- Maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
- Summarize and prepare financial records and statements for external reporting.
- Utilize accounting principles to ensure compliance with regulatory reporting requirements.
Common Career Paths for Financial Analyst Accountant
Financial Analyst Accountants often transition into Senior Financial Analyst positions, for which compensation tends to be much higher. On average, Senior Financial Analysts earn $76K per year. Accounting Managers or Assistant Financial Controllers are common next-step roles for Financial Analyst Accountants moving up in their careers; annual pay for Accounting Managers is $1K higher on average, and it's $2K higher for Assistant Financial Controllers.
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Popular Skills for Financial Analyst Accountant
Survey results imply that Financial Analyst Accountants put a diverse skill set to use. Most notably, skills in Budgeting, Microsoft Excel, Accounting, and Financial Analysis are correlated to pay that is above average. Those listing Accounts Payable as a skill should be prepared for drastically lower pay. Most people skilled in Accounting are similarly competent in Financial Reporting and Microsoft Excel.
Pay by Experience Level for Financial Analyst Accountant
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Experience and pay tend to be weakly linked for Financial Analyst Accountants — those with more experience do not necessarily bring in higher earnings. Salaries for inexperienced workers average out to $59K, and those with five to 10 years' experience earn a higher median of $56K. The average pay reported by folks with 10 to 20 years of experience is around $68K. Financial Analyst Accountants with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $69K.
Pay Difference by Location
New York is home to an above-average pay rate for Financial Analyst Accountants, 39 percent higher than the national average. Financial Analyst Accountants will also find cushy salaries in Chicago (+16 percent) and Houston (+10 percent).
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Key Stats for Financial Analyst Accountant
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