Accounting & Bookkeeping & Small Business Forum

[chill_pretty]

Hi All!

What is really the difference of Accountant from Financial Analyst? Which one is higher --- both in position and pay. And, which one has more career growth?

I'm confused... :?
Thanks!

[Tyson]

I have experience working in both fields.

Accountant work generally is lower paying to start, but it is also easier to get an accounting job without a university degree. You may start with bookkeeping and work up from there to a controller position and then, perhaps, a VP Finance or CFO position. The higher positions in accounting, however, generally require certification (CPA, CA, CGA, etc.) and a university degree. And finally, accounting gives you a better idea of how to run a business in my opinion.

To get a financial analyst position you generally need a university degree in Finance and perhaps a CFA designation. But once completed, a higher paying entry level job awaits you in investments or banking. After a number of years of experience in banking or finance, you can move to a position actually in an industry you analyze for extremely good pay, without being in the highest position.

In sum, accounting provides better entry-level opportunities without a degree. And financial analyst positions are better paying to start and are better paying over the long term. The best bet is to get a certification in both areas (CPA or CA and CFA) and become the Chief Financial Officer of a company.

Good luck.

[RobJ]

chill_pretty wrote: Hi All!

What is really the difference of Accountant from Financial Analyst? Which one is higher --- both in position and pay. And, which one has more career growth?

I'm confused... :?
Thanks!

According to the Bureau of Labor Statistics, "Financial analysts help people decide how to invest their money. They work for banks, insurance companies, mutual funds, and securities firms."

http://www.bls.gov/k12/money02.htm

As for Accountants, it depends on whether you're talking about accountant or bookkeeper and whether you're talking about a large business or a small business. An accountant or controller position for a large company can be entirely different than that in a small company. For a large company, you'll need a degree. Many small businesses say they're looking for an accountant when, in fact, their seeking a bookkeeper. You don't need a degree to be a bookkeeper.

Both require a degree, both have distinct career paths, and both have a good potential for earnings. I think the path for accountants is more resilient during recessions as businesses always need accountants.

I hope that helps.