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The differences between budget managers and finance planning 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 finance planning manager. Additionally, a finance planning manager has an average salary of $109,162, 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 finance planning manager are financial analysis, financial planning analysis, and financial models.
| Budget Manager | Finance Planning Manager | |
| Yearly salary | $76,243 | $109,162 |
| Hourly rate | $36.66 | $52.48 |
| Growth rate | 17% | 17% |
| Number of jobs | 68,816 | 120,588 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 73% |
| 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 finance planning manager oversees the budget and finance development processes within a company. Their responsibilities revolve around analyzing financial records, participating in auditing processes, producing reports and forecasts, and coordinating with different company personnel to obtain accurate data. A finance planning manager must also utilize fiscal tools, devise new business strategies and opportunities, and keep abreast of all the company's upcoming projects. Furthermore, as a manager, it is essential to lead and encourage the team, all while implementing the company's policies and regulations.
Budget managers and finance planning managers have different pay scales, as shown below.
| Budget Manager | Finance Planning Manager | |
| Average salary | $76,243 | $109,162 |
| Salary range | Between $52,000 And $110,000 | Between $78,000 And $152,000 |
| Highest paying City | Sacramento, CA | San Francisco, CA |
| Highest paying state | New York | Delaware |
| Best paying company | Apple | Metropolitan Water District of Southern California |
| Best paying industry | Manufacturing | Manufacturing |
There are a few differences between a budget manager and a finance planning manager in terms of educational background:
| Budget Manager | Finance Planning Manager | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 73% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between budget managers' and finance planning managers' demographics:
| Budget Manager | Finance Planning Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 59.1% Female, 40.9% | Male, 69.8% Female, 30.2% |
| 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, 7.4% Unknown, 4.1% Hispanic or Latino, 14.2% Asian, 10.0% White, 63.9% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |