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Chief finance and operating officer vs finance manager

The differences between chief finance and operating officers and 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 chief finance and operating officer and a finance manager. Additionally, a chief finance and operating officer has an average salary of $166,139, which is higher than the $101,374 average annual salary of a finance manager.

The top three skills for a chief finance and operating officer include financial statements, oversight and human resources. The most important skills for a finance manager are financial analysis, CPA, and customer service.

Chief finance and operating officer vs finance manager overview

Chief Finance And Operating OfficerFinance Manager
Yearly salary$166,139$101,374
Hourly rate$79.87$48.74
Growth rate17%17%
Number of jobs166,131125,345
Job satisfaction-5
Most common degreeBachelor's Degree, 70%Bachelor's Degree, 66%
Average age4646
Years of experience88

What does a chief finance and operating officer do?

A Chief Finance and Operating Officer is a senior executive who is part of the management team that manages the financial actions of an organization. This executive must produce financial statements to communicate results with shareholders and stakeholders of the organization. They must revise all their financial policies and procedures to strengthen internal controls and ensure the continuance of work to accommodate rapid growth. They must also establish cross-functional alliances to assist the effectiveness of the organization's marketing and business development initiatives.

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.

Chief finance and operating officer vs finance manager salary

Chief finance and operating officers and finance managers have different pay scales, as shown below.

Chief Finance And Operating OfficerFinance Manager
Average salary$166,139$101,374
Salary rangeBetween $87,000 And $314,000Between $71,000 And $144,000
Highest paying CityFoster City, CANew York, NY
Highest paying stateCaliforniaNew York
Best paying companyUniversity of Nebraska at OmahaBarclays
Best paying industryInternetFinance

Differences between chief finance and operating officer and finance manager education

There are a few differences between a chief finance and operating officer and a finance manager in terms of educational background:

Chief Finance And Operating OfficerFinance Manager
Most common degreeBachelor's Degree, 70%Bachelor's Degree, 66%
Most common majorAccountingBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Chief finance and operating officer vs finance manager demographics

Here are the differences between chief finance and operating officers' and finance managers' demographics:

Chief Finance And Operating OfficerFinance Manager
Average age4646
Gender ratioMale, 80.5% Female, 19.5%Male, 60.0% Female, 40.0%
Race ratioBlack or African American, 8.1% Unknown, 4.1% Hispanic or Latino, 14.9% Asian, 8.5% White, 64.1% American Indian and Alaska Native, 0.3%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 Percentage11%11%

Differences between chief finance and operating officer and finance manager duties and responsibilities

Chief finance and operating officer example responsibilities.

  • Manage employees in GL, A/R, A/P, Credit/Collections, sales, warehousing, and shipping.
  • Manage development and implementation of customize ERP system.
  • Lead implementation of new worldwide consolidation system, Hyperion, significantly reducing closing time and improving controls over the consolidation process.
  • Streamline risk management, convert banking relationship and convert payroll processing to a third party payroll processor.
  • Work closely with CPA firm to improve operational and financial controls with no significant deficiencies note after year one.
  • Reduce independent CPA audit time and eliminate audit corrections.
  • 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

Chief finance and operating officer vs finance manager skills

Common chief finance and operating officer skills
  • Financial Statements, 21%
  • Oversight, 5%
  • Human Resources, 5%
  • Payroll, 4%
  • Regulatory Compliance, 4%
  • Risk Management, 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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