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The differences between budget managers and cash managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-8 years to become both a budget manager and a cash manager. Additionally, a cash manager has an average salary of $93,363, which is higher than the $76,243 average annual salary of a budget manager.
The top three skills for a budget manager include financial analysis, budget management and financial management. The most important skills for a cash manager are customer service, cash management, and treasury.
| Budget Manager | Cash Manager | |
| Yearly salary | $76,243 | $93,363 |
| Hourly rate | $36.66 | $44.89 |
| Growth rate | 17% | 17% |
| Number of jobs | 68,816 | 60,517 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 64% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
Budget managers are financial professionals who are responsible for evaluating the financial needs of an organization by developing budget strategies to increase profitability. These managers are must observe the financial trends with the organization's expenditure while communicating budget issues with the different departments within the organization. They are required to formulate strategic business plans by analyzing previous budgets and financial developments that may impact their potential income. Budget managers must also produce expenditure reports for the upper management as well as informing department managers about the availability of funds.
A cash manager is responsible for monitoring cash flow, analyzing financial transactions, and allocating adequate budget and resources for every department's operations. Cash managers conduct data and statistical analysis to determine the company's expenses and financial loss and strategize techniques in minimizing those risks. They also help senior management in identifying business opportunities that would generate more revenue resources and increase profits for the business. A cash manager handles billing disputes, resolves account discrepancies, and submits accurate financial reports.
Budget managers and cash managers have different pay scales, as shown below.
| Budget Manager | Cash Manager | |
| Average salary | $76,243 | $93,363 |
| Salary range | Between $52,000 And $110,000 | Between $66,000 And $130,000 |
| Highest paying City | Sacramento, CA | Redding, CA |
| Highest paying state | New York | California |
| Best paying company | Apple | PVH |
| Best paying industry | Manufacturing | Manufacturing |
There are a few differences between a budget manager and a cash manager in terms of educational background:
| Budget Manager | Cash Manager | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 64% |
| Most common major | Accounting | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between budget managers' and cash managers' demographics:
| Budget Manager | Cash Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 59.1% Female, 40.9% | Male, 38.2% Female, 61.8% |
| Race ratio | Black or African American, 7.8% Unknown, 4.1% Hispanic or Latino, 15.0% Asian, 9.0% White, 63.9% American Indian and Alaska Native, 0.3% | Black or African American, 8.0% Unknown, 4.1% Hispanic or Latino, 15.5% Asian, 8.0% White, 64.1% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |