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The differences between budget managers and portfolio 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 portfolio manager. Additionally, a portfolio manager has an average salary of $114,671, 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 portfolio manager are portfolio management, customer service, and risk management.
| Budget Manager | Portfolio Manager | |
| Yearly salary | $76,243 | $114,671 |
| Hourly rate | $36.66 | $55.13 |
| Growth rate | 17% | 17% |
| Number of jobs | 68,816 | 43,192 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 71% |
| 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 portfolio manager is responsible for managing the clients' investment portfolios to advise them of the best investment plans to achieve their financial goals and objectives. Portfolio managers determine the most suitable options by evaluating the clients' credit score and risk potential and the client's financial background. A portfolio manager should be highly knowledgeable and updated with the recent financial industry changes to decide on investment plans with maximum returns.
Budget managers and portfolio managers have different pay scales, as shown below.
| Budget Manager | Portfolio Manager | |
| Average salary | $76,243 | $114,671 |
| Salary range | Between $52,000 And $110,000 | Between $66,000 And $198,000 |
| Highest paying City | Sacramento, CA | Stamford, CT |
| Highest paying state | New York | Connecticut |
| Best paying company | Apple | The Citadel |
| Best paying industry | Manufacturing | Finance |
There are a few differences between a budget manager and a portfolio manager in terms of educational background:
| Budget Manager | Portfolio Manager | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 71% |
| Most common major | Accounting | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between budget managers' and portfolio managers' demographics:
| Budget Manager | Portfolio Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 59.1% Female, 40.9% | Male, 66.6% Female, 33.4% |
| 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, 7.5% Unknown, 4.1% Hispanic or Latino, 14.4% Asian, 10.1% White, 63.6% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |