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The differences between chief finance officers and senior 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 senior 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 $133,358 average annual salary of a senior finance manager.
The top three skills for a chief finance officer include payroll, CPA and oversight. The most important skills for a senior finance manager are hyperion, financial performance, and financial analysis.
| Chief Finance Officer | Senior Finance Manager | |
| Yearly salary | $143,947 | $133,358 |
| Hourly rate | $69.21 | $64.11 |
| Growth rate | 6% | 17% |
| Number of jobs | 145,184 | 139,639 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 68% |
| 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 senior finance manager is an individual who supervises financial department staff members as well as monitors the daily financial operations within a company. Senior finance managers must keep track of the financial status and performance of the company so that they can identify areas for potential improvement. They review financial data and prepare reports to be presented to the management to help them in their business decision making. Senior finance managers must also maintain policies within the company and should have a deep understanding of financial regulations and legislations.
Chief finance officers and senior finance managers have different pay scales, as shown below.
| Chief Finance Officer | Senior Finance Manager | |
| Average salary | $143,947 | $133,358 |
| Salary range | Between $80,000 And $257,000 | Between $95,000 And $185,000 |
| Highest paying City | Washington, DC | San Francisco, CA |
| Highest paying state | California | California |
| Best paying company | Baker McKenzie | Roku |
| Best paying industry | Construction | Professional |
There are a few differences between a chief finance officer and a senior finance manager in terms of educational background:
| Chief Finance Officer | Senior Finance Manager | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 68% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between chief finance officers' and senior finance managers' demographics:
| Chief Finance Officer | Senior Finance Manager | |
| Average age | 52 | 46 |
| Gender ratio | Male, 71.9% Female, 28.1% | Male, 70.3% Female, 29.7% |
| 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, 7.5% Unknown, 4.1% Hispanic or Latino, 14.3% Asian, 10.0% White, 63.8% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 12% | 11% |