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The differences between credit managers and cash 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 a cash manager. Additionally, a cash manager has an average salary of $93,363, 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 a cash manager are customer service, cash management, and treasury.
| Credit Manager | Cash Manager | |
| Yearly salary | $68,583 | $93,363 |
| Hourly rate | $32.97 | $44.89 |
| Growth rate | 17% | 17% |
| Number of jobs | 63,898 | 60,517 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 64% |
| 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.
A cash manager is responsible for monitoring cash flow, analyzing financial transactions, and allocating adequate budget and resources for every department's operations. Cash managers conduct data and statistical analysis to determine the company's expenses and financial loss and strategize techniques in minimizing those risks. They also help senior management in identifying business opportunities that would generate more revenue resources and increase profits for the business. A cash manager handles billing disputes, resolves account discrepancies, and submits accurate financial reports.
Credit managers and cash managers have different pay scales, as shown below.
| Credit Manager | Cash Manager | |
| Average salary | $68,583 | $93,363 |
| Salary range | Between $39,000 And $119,000 | Between $66,000 And $130,000 |
| Highest paying City | San Francisco, CA | Redding, CA |
| Highest paying state | Oregon | California |
| Best paying company | Microsoft | PVH |
| Best paying industry | Finance | Manufacturing |
There are a few differences between a credit manager and a cash manager in terms of educational background:
| Credit Manager | Cash Manager | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 64% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit managers' and cash managers' demographics:
| Credit Manager | Cash Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 53.9% Female, 46.1% | Male, 38.2% Female, 61.8% |
| 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, 8.0% Unknown, 4.1% Hispanic or Latino, 15.5% Asian, 8.0% White, 64.1% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |