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The differences between business managers and chief finance officers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a business manager, becoming a chief finance officer takes usually requires More than 10 years. Additionally, a chief finance officer has an average salary of $143,947, which is higher than the $83,198 average annual salary of a business manager.
The top three skills for a business manager include customer service, powerpoint and project management. The most important skills for a chief finance officer are payroll, CPA, and oversight.
| Business Manager | Chief Finance Officer | |
| Yearly salary | $83,198 | $143,947 |
| Hourly rate | $40.00 | $69.21 |
| Growth rate | 6% | 6% |
| Number of jobs | 377,191 | 145,184 |
| Job satisfaction | 5 | - |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 72% |
| Average age | 44 | 52 |
| Years of experience | 6 | - |
A business manager is responsible for directing the overall operations of the company, ensuring that all employees do their tasks efficiently and accurately. Business managers' duties include developing strategic solutions, evaluating employees' performance, identifying business opportunities to grow, monitoring the company's expenses to meet its budget goals, implementing techniques to boost the company's revenue and profitability, and adhering to the company's legal policies and procedures. A business manager must have excellent leadership and interpersonal skills to supervise daily operations.
A chief financial officer is responsible for managing and reviewing the financial status of a company. Chief financial officers' duties include ensuring the accuracy of financial reports, monitoring the company's expenses and budget goals, providing recommendations to prevent financial loss and increase revenues, processing the company's tax obligations, and resolving financial disputes. A chief financial officer must have an impeccable knowledge of the financial industry, updated with the current market trend, and strong leadership and decision-making skills to support the organization's financial department.
Business managers and chief finance officers have different pay scales, as shown below.
| Business Manager | Chief Finance Officer | |
| Average salary | $83,198 | $143,947 |
| Salary range | Between $47,000 And $145,000 | Between $80,000 And $257,000 |
| Highest paying City | Seattle, WA | Washington, DC |
| Highest paying state | Washington | California |
| Best paying company | The Citadel | Baker McKenzie |
| Best paying industry | Technology | Construction |
There are a few differences between a business manager and a chief finance officer in terms of educational background:
| Business Manager | Chief Finance Officer | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 72% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between business managers' and chief finance officers' demographics:
| Business Manager | Chief Finance Officer | |
| Average age | 44 | 52 |
| Gender ratio | Male, 43.2% Female, 56.8% | Male, 71.9% Female, 28.1% |
| Race ratio | Black or African American, 6.2% Unknown, 4.3% Hispanic or Latino, 15.3% Asian, 6.4% White, 67.2% American Indian and Alaska Native, 0.5% | Black or African American, 3.8% Unknown, 3.9% Hispanic or Latino, 7.9% Asian, 7.7% White, 76.1% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 10% | 12% |