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The differences between chief finance officers and business manager-finance managers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes More than 10 years to become a chief finance officer, becoming a business manager-finance manager takes usually requires 6-8 years. Additionally, a chief finance officer has an average salary of $143,947, which is higher than the $106,036 average annual salary of a business manager-finance manager.
The top three skills for a chief finance officer include payroll, CPA and oversight. The most important skills for a business manager-finance manager are financial analysis, project management, and financial management.
| Chief Finance Officer | Business Manager-Finance Manager | |
| Yearly salary | $143,947 | $106,036 |
| Hourly rate | $69.21 | $50.98 |
| Growth rate | 6% | 17% |
| Number of jobs | 145,184 | 180,161 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 64% |
| Average age | 52 | 46 |
| Years of experience | - | 8 |
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.
A business manager/finance manager is responsible for handling the financial transactions of an organization, analyzing financial reports, and monitor investment activities. Business managers/finance managers strategize effective techniques to boost the organization's financial performance and identify business opportunities to increase revenues. They also prepare financial statements and assist senior management in making corporate decisions by conducting data and statistical analysis by studying market trends. A business manager/finance manager must have excellent critical thinking and analytical skills, especially in calculating costs and expenses to minimize the company's loss and stabilize profits.
Chief finance officers and business manager-finance managers have different pay scales, as shown below.
| Chief Finance Officer | Business Manager-Finance Manager | |
| Average salary | $143,947 | $106,036 |
| Salary range | Between $80,000 And $257,000 | Between $73,000 And $152,000 |
| Highest paying City | Washington, DC | San Francisco, CA |
| Highest paying state | California | California |
| Best paying company | Baker McKenzie | ZS |
| Best paying industry | Construction | Finance |
There are a few differences between a chief finance officer and a business manager-finance manager in terms of educational background:
| Chief Finance Officer | Business Manager-Finance Manager | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 64% |
| Most common major | Accounting | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between chief finance officers' and business manager-finance managers' demographics:
| Chief Finance Officer | Business Manager-Finance Manager | |
| Average age | 52 | 46 |
| Gender ratio | Male, 71.9% Female, 28.1% | Male, 58.8% Female, 41.2% |
| Race ratio | 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% | Black or African American, 7.4% Unknown, 4.1% Hispanic or Latino, 14.1% Asian, 10.0% White, 64.1% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 12% | 11% |