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The differences between credit managers and audit 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 credit manager and an audit manager. Additionally, an audit manager has an average salary of $121,419, which is higher than the $68,583 average annual salary of a credit manager.
The top three skills for a credit manager include customer service, financial statements and credit card. The most important skills for an audit manager are CPA, internal audit, and audit reports.
| Credit Manager | Audit Manager | |
| Yearly salary | $68,583 | $121,419 |
| Hourly rate | $32.97 | $58.37 |
| Growth rate | 17% | 17% |
| Number of jobs | 63,898 | 70,168 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 75% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
A credit manager is an individual who supervises the credit granting process for a company by evaluating the creditworthiness of potential customers. Credit managers must maintain corporate credit policy to optimize company sales and reduce bad debt losses. They must manage the proper relationship with agencies such as the collection agency, credit insurance providers, and the sales department. Credit managers may work in different industries such as banks, accounting firms, or auto dealerships. They must also possess a bachelor's degree in financial management or related field.
An audit manager is responsible for the complete audit process of finances in an organization. They work for banks and report directly to the audit committee. Based on findings gathered, a financial institution can gain vision into their variance and overall performance. They are also responsible for scheduling audits, initiating departmental audits, consolidation, and analysis of audit reports, and reviewing accounting procedures. Moreover, part of their tasks is to create audit finding presentations to be presented to the audit committee. It requires a high amount of accountability to be an effective audit manager.
Credit managers and audit managers have different pay scales, as shown below.
| Credit Manager | Audit Manager | |
| Average salary | $68,583 | $121,419 |
| Salary range | Between $39,000 And $119,000 | Between $82,000 And $178,000 |
| Highest paying City | San Francisco, CA | Portland, ME |
| Highest paying state | Oregon | Maine |
| Best paying company | Microsoft | Meta |
| Best paying industry | Finance | Manufacturing |
There are a few differences between a credit manager and an audit manager in terms of educational background:
| Credit Manager | Audit Manager | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 75% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit managers' and audit managers' demographics:
| Credit Manager | Audit Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 53.9% Female, 46.1% | Male, 66.0% Female, 34.0% |
| Race ratio | Black or African American, 7.9% Unknown, 4.1% Hispanic or Latino, 15.3% Asian, 7.8% White, 64.5% American Indian and Alaska Native, 0.3% | Black or African American, 7.6% Unknown, 4.1% Hispanic or Latino, 14.5% Asian, 10.2% White, 63.2% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |