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The differences between budget managers and senior finance 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 senior finance manager. Additionally, a senior finance manager has an average salary of $133,358, 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 senior finance manager are hyperion, financial performance, and financial analysis.
| Budget Manager | Senior Finance Manager | |
| Yearly salary | $76,243 | $133,358 |
| Hourly rate | $36.66 | $64.11 |
| Growth rate | 17% | 17% |
| Number of jobs | 68,816 | 139,639 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 68% |
| 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 senior finance manager is an individual who supervises financial department staff members as well as monitors the daily financial operations within a company. Senior finance managers must keep track of the financial status and performance of the company so that they can identify areas for potential improvement. They review financial data and prepare reports to be presented to the management to help them in their business decision making. Senior finance managers must also maintain policies within the company and should have a deep understanding of financial regulations and legislations.
Budget managers and senior finance managers have different pay scales, as shown below.
| Budget Manager | Senior Finance Manager | |
| Average salary | $76,243 | $133,358 |
| Salary range | Between $52,000 And $110,000 | Between $95,000 And $185,000 |
| Highest paying City | Sacramento, CA | San Francisco, CA |
| Highest paying state | New York | California |
| Best paying company | Apple | Roku |
| Best paying industry | Manufacturing | Professional |
There are a few differences between a budget manager and a senior finance manager in terms of educational background:
| Budget Manager | Senior Finance Manager | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 68% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between budget managers' and senior finance managers' demographics:
| Budget Manager | Senior Finance Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 59.1% Female, 40.9% | Male, 70.3% Female, 29.7% |
| 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, 14.3% Asian, 10.0% White, 63.8% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |