What does a finance assistant do?
Finance assistants perform different tasks in the finance department and manage the bookkeeping of the company or organization. You spend time performing data entry, maintaining a budget, and managing taxes. This type of role can allow you to be promoted to an accountant or financial analyst position. As a finance assistant, you also spend time creating cost analysis reports, maintaining accounts payable, and preparing monthly financial reports. Your primary role is to maintain the financial records within the company and find ways to reduce costs while improving the accuracy of maintaining records.
Additional responsibilities of a finance assistant
Additional responsibilities you have as a finance assistant include maintaining the policies of the organization, collecting and reviewing data to use for the reports you create, and overseeing client accounts. You will also report any discrepancies, submit payments for employees, and reconcile bank accounts. You'll find yourself preparing receipts and assisting with audits. You'll also interact with customers and respond to inquiries or concerns regarding accounts.View Roles
What is the average salary of a finance assistant?
The average base salary of a finance assistant is $18.60 per hour or $44,760 a year, according to the U.S. Bureau Labor of Statistics. The base pay is $43,094 with additional pay of $68,924 annually. The highest-paying cities for this position include Santa Barbara, Boston, and Chicago. The most common benefits that are available in this role include 401(k), 401(k) matching, health insurance, and paid time off.
Securing higher pay
As a finance assistant, you have the opportunity to earn a higher salary by enhancing your skills, which include communication, customer service, and data entry. Earning a bachelor's degree instead of an associate degree will make you more qualified as a professional to earn higher pay. Obtaining administrative and clerical experience as a student will also make it easier to stand out among other applicants. Employers will also consider increasing your salary if you pursue relevant certification in the industry and obtain additional training that enhances your experience and qualifications. As you gain more experience in the finance industry as a professional, you'll have the ability to negotiate higher pay as you manage more responsibilities and tasks.
Finance assistant job description
Do you enjoy managing finances and finding new ways to save money? Are you skilled in multitasking and managing large sums of money? If so, you'll enjoy working as a finance assistant. The position will allow you to perform different types of tasks related to the organization's finances and solve different problems. The role is integral in the finance department because you help the company save money, stay updated on taxes, and provide excellent customer service.
What is the career outlook of a finance assistant?
If you want to pursue a job as a finance assistant, fewer opportunities will become available in different industries in the coming years. According to the U.S. Bureau of Labor of Statistics, there is expected to be a 2% decline in finance assistant positions from 2020 to 2030 with 20,000 fewer jobs available.
Despite the decline, there will still be an average of 120,900 openings available each year as more employees change careers or exit the workforce. Furthering your education by earning a bachelor's degree in finance or obtaining additional certifications can make it easy to obtain employment and stand out among other applicants.
What are the advantages of working with Spherion as a finance assistant?
Working with Spherion as a finance assistant will provide you with more networking opportunities and the chance to connect with a leading company. As a top staffing company, Spherion has connections in various industries and the experience needed to help professionals find employment. The advantages of working with Spherion include:
- Receiving your pay each week
- An easy interview process
- Training opportunities to sharpen your skills
- Working one-on-one with a contact person who will answer your questions and assist you
- Flexible scheduling
- A Spherion team member to assist you in finding jobs that meet your criteria
What education do you need as a finance assistant?
As a finance assistant, you need to earn your associate degree or bachelor's degree. Most finance assistants have earned a bachelor's degree. Positions that are more advanced require applicants with a master's degree. Some companies will also require you to have proper training, which includes shadowing financial professionals.
Skills and competencies
In addition to data entry, the skills you need to succeed as a finance assistant include communication and organization skills, accounting skills, and the ability to solve problems. You must work well in a team and have high attention to detail to avoid errors or mistakes. You should also be capable of working well in a fast-paced environment while under pressure.
Many people have questions related to finance assistant positions and what the job entails. There are a few frequently asked questions that can allow you to gain a better understanding of the role.