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Business manager vs finance manager

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 vs finance manager overview

Business ManagerFinance Manager
Yearly salary$83,198$101,374
Hourly rate$40.00$48.74
Growth rate6%17%
Number of jobs377,191125,345
Job satisfaction55
Most common degreeBachelor's Degree, 65%Bachelor's Degree, 66%
Average age4446
Years of experience68

What does a business manager do?

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.

What does a finance manager do?

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 manager vs finance manager salary

Business managers and finance managers have different pay scales, as shown below.

Business ManagerFinance Manager
Average salary$83,198$101,374
Salary rangeBetween $47,000 And $145,000Between $71,000 And $144,000
Highest paying CitySeattle, WANew York, NY
Highest paying stateWashingtonNew York
Best paying companyThe CitadelBarclays
Best paying industryTechnologyFinance

Differences between business manager and finance manager education

There are a few differences between a business manager and a finance manager in terms of educational background:

Business ManagerFinance Manager
Most common degreeBachelor's Degree, 65%Bachelor's Degree, 66%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Business manager vs finance manager demographics

Here are the differences between business managers' and finance managers' demographics:

Business ManagerFinance Manager
Average age4446
Gender ratioMale, 43.2% Female, 56.8%Male, 60.0% Female, 40.0%
Race ratioBlack 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 Percentage10%11%

Differences between business manager and finance manager duties and responsibilities

Business manager example responsibilities.

  • Coordinate and manage hvac projects from estimate to invoice.
  • Manage accounting, treasury, and process improvement initiatives to effect financial turnaround of CMRO business unit.
  • Manage and supervise firm operations on a daily basis including purchases, accounting, scheduling of vendors, attorney and CPA.
  • Create solutions in the areas of invoicing, AR reporting and payment methods that lead to system improvements and streamline processes.
  • Manage all human resource activities, operational processes and financial oversight.
  • Develop internal operating procedures design to achieve efficient clinic operations and maximum service to patients.
  • Show more

Finance manager example responsibilities.

  • Manage the preparation of monthly reporting packs and board presentations with robust variance analysis, commentaries and forward looking KPIs.
  • Manage a team of sales persons, business managers, sales manager, A/R, A/P, and general managers.
  • Lead successful sales team and provide direct oversight on overall dealership business profitability.
  • Manage accounts payable/receivable, deposits, payroll preparation, purchasing and inventory management, liaison to accountant.
  • Oversee financial analysis, financial audits, G/L, A/R, A/P and fixed-asset accounting in accordance with GAAP standards.
  • Execute simple SQL queries to validate data in tables.
  • Show more

Business manager vs finance manager skills

Common business manager skills
  • Customer Service, 21%
  • PowerPoint, 7%
  • Project Management, 6%
  • Human Resources, 6%
  • Payroll Taxes, 5%
  • Business Plan, 4%
Common finance manager skills
  • Financial Analysis, 7%
  • CPA, 7%
  • Customer Service, 6%
  • Hyperion, 4%
  • Financial Models, 4%
  • Strong Analytical, 4%

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