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The differences between business managers and finance managers 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 finance manager takes usually requires 6-8 years. Additionally, a finance manager has an average salary of $101,374, 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 finance manager are financial analysis, CPA, and customer service.
| Business Manager | Finance Manager | |
| Yearly salary | $83,198 | $101,374 |
| Hourly rate | $40.00 | $48.74 |
| Growth rate | 6% | 17% |
| Number of jobs | 377,191 | 125,345 |
| Job satisfaction | 5 | 5 |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 66% |
| Average age | 44 | 46 |
| Years of experience | 6 | 8 |
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 finance manager is responsible for monitoring the financial system of a company. Their tasks include handling their organization's financial status, generating cost estimates and budget goals, identifying business opportunities to increase revenues and profitability, improving financial strategies, reducing costs, analyzing account statements, processing invoice as needed, analyzing market trends, searching potential partnerships, and presenting reports. A finance manager must have excellent analytical skills and knowledge of the accounting and financial industry. They are responsible for providing the best recommendations for the organization's growth.
Business managers and finance managers have different pay scales, as shown below.
| Business Manager | Finance Manager | |
| Average salary | $83,198 | $101,374 |
| Salary range | Between $47,000 And $145,000 | Between $71,000 And $144,000 |
| Highest paying City | Seattle, WA | New York, NY |
| Highest paying state | Washington | New York |
| Best paying company | The Citadel | Barclays |
| Best paying industry | Technology | Finance |
There are a few differences between a business manager and a finance manager in terms of educational background:
| Business Manager | Finance Manager | |
| Most common degree | Bachelor's Degree, 65% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between business managers' and finance managers' demographics:
| Business Manager | Finance Manager | |
| Average age | 44 | 46 |
| Gender ratio | Male, 43.2% Female, 56.8% | Male, 60.0% Female, 40.0% |
| 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, 7.6% Unknown, 4.1% Hispanic or Latino, 14.6% Asian, 10.2% White, 63.2% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 10% | 11% |