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The differences between cost accounting managers and risk 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 cost accounting manager and a risk manager. Additionally, a risk manager has an average salary of $116,072, which is higher than the $89,286 average annual salary of a cost accounting manager.
The top three skills for a cost accounting manager include variance analysis, financial analysis and reconciliations. The most important skills for a risk manager are oversight, risk assessments, and project management.
| Cost Accounting Manager | Risk Manager | |
| Yearly salary | $89,286 | $116,072 |
| Hourly rate | $42.93 | $55.80 |
| Growth rate | 17% | 17% |
| Number of jobs | 61,135 | 75,795 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 66% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
A cost accounting manager is responsible for analyzing and evaluating pricing and costing systems of the goods and services of an organization, ensuring its adherence to the internal guidelines and state regulations. Cost accounting managers review business and financial transactions to generate accounting reports for management reference. They also identify business opportunities that would provide revenue resources and profits by monitoring industry trends and public demands. A cost accounting manager must have excellent analytical skills and accounting principles knowledge, especially in resolving account and expense discrepancies.
A risk manager is responsible for analyzing potential risks that may affect the organization's operations, reputation, and market credibility. Risk managers identify risk controls and discuss business contingency plans for unforeseen circumstances to prevent delays in operational services. They also develop compliance training and programs for all the employees to provide them the awareness of the safety and security regulations within the company premises. A risk manager must have excellent communication and leadership skills, especially on handling and investigating cases that might compromise the business stability and financial status.
Cost accounting managers and risk managers have different pay scales, as shown below.
| Cost Accounting Manager | Risk Manager | |
| Average salary | $89,286 | $116,072 |
| Salary range | Between $67,000 And $118,000 | Between $84,000 And $160,000 |
| Highest paying City | Boston, MA | San Francisco, CA |
| Highest paying state | Connecticut | California |
| Best paying company | Microsoft | Credit Karma |
| Best paying industry | Manufacturing | Technology |
There are a few differences between a cost accounting manager and a risk manager in terms of educational background:
| Cost Accounting Manager | Risk Manager | |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 66% |
| Most common major | Accounting | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between cost accounting managers' and risk managers' demographics:
| Cost Accounting Manager | Risk Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 71.7% Female, 28.3% | Male, 59.3% Female, 40.7% |
| Race ratio | Black or African American, 7.6% Unknown, 4.1% Hispanic or Latino, 14.6% Asian, 9.2% White, 64.2% American Indian and Alaska Native, 0.3% | Black or African American, 7.5% Unknown, 4.1% Hispanic or Latino, 14.4% Asian, 10.1% White, 63.5% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |