There are many different careers in the financial field, but the payment analyst is often overlooked. Payment analysts have a more specific job than an accountant would and are in charge of several accounts in a company or organization.
A payment analyst is responsible for making sure the payments, both in and out of a company, are made on time. Some payment analysts work specifically with one or the other, while others will handle both. It is also a payment analyst's job to document and fill out the proper paperwork and file it accordingly. Another responsibility is to keep the files updated and current.
Some companies and organizations require that a payment analyst have special skills or education in their field. The field of health care and insurance is a good example of this. Sometimes, specific billing education is a good asset.
Because payment analysts are an essential part of an organization, employers will often look for payment analysts with skills in organization, problem-solving, communication and computers. Also, it is ideal that the analyst have great attention to detail, a solid work ethic and an ability to prioritize.
The typical educational requirement for a payment analyst is a Bachelor's degree in the financial discipline such as accounting. Business degrees with an emphasis in finance is also a good degree to have for this career.
The average salary of a payment analyst is around $34,000 a year, according to the Bureau of Labor and Statistics. Bigger salaries are earned based on experience, location, company and skills of a payment analyst.
According to the Bureau of Labor and Statistics, payment analyst careers are expected to grow 20% by 2018. This is just above the average for job growth. Because companies and organizations have competitors, it is important for them to keep their financial status updated.
2016 Salary Information for Financial Analysts
Financial analysts earned a median annual salary of $81,760 in 2016, according to the U.S. Bureau of Labor Statistics. On the low end, financial analysts earned a 25th percentile salary of $62,630, meaning 75 percent earned more than this amount. The 75th percentile salary is $111,760, meaning 25 percent earn more. In 2016, 296,100 people were employed in the U.S. as financial analysts.