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The differences between finance administrators and finance 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 finance administrator and a finance manager. Additionally, a finance manager has an average salary of $101,374, which is higher than the $55,541 average annual salary of a finance administrator.
The top three skills for a finance administrator include customer service, financial aid and powerpoint. The most important skills for a finance manager are financial analysis, CPA, and customer service.
| Finance Administrator | Finance Manager | |
| Yearly salary | $55,541 | $101,374 |
| Hourly rate | $26.70 | $48.74 |
| Growth rate | 17% | 17% |
| Number of jobs | 130,256 | 125,345 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 66% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
A finance administrator is responsible for supporting the financial operations of an organization, handling the accuracy of financial transactions, and resolving discrepancies in the company's financial statements. Finance administrators analyze the company's financial performance, including its losses and revenues, writing financial reports, and providing recommendations for cost-reduction processes to minimize financial risks. They also handle the allocation of departmental budgets, assist in tax audits, and process invoices and payroll release. A finance administrator must have excellent analytical skills and an extensive knowledge of the financial industry.
A finance manager is responsible for monitoring the financial system of a company. Their tasks include handling their organization's financial status, generating cost estimates and budget goals, identifying business opportunities to increase revenues and profitability, improving financial strategies, reducing costs, analyzing account statements, processing invoice as needed, analyzing market trends, searching potential partnerships, and presenting reports. A finance manager must have excellent analytical skills and knowledge of the accounting and financial industry. They are responsible for providing the best recommendations for the organization's growth.
Finance administrators and finance managers have different pay scales, as shown below.
| Finance Administrator | Finance Manager | |
| Average salary | $55,541 | $101,374 |
| Salary range | Between $38,000 And $80,000 | Between $71,000 And $144,000 |
| Highest paying City | Dover, DE | New York, NY |
| Highest paying state | Delaware | New York |
| Best paying company | State Street | Barclays |
| Best paying industry | Manufacturing | Finance |
There are a few differences between a finance administrator and a finance manager in terms of educational background:
| Finance Administrator | Finance Manager | |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance administrators' and finance managers' demographics:
| Finance Administrator | Finance Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 29.3% Female, 70.7% | Male, 60.0% Female, 40.0% |
| Race ratio | Black or African American, 7.7% Unknown, 4.1% Hispanic or Latino, 14.8% Asian, 9.2% White, 63.9% American Indian and Alaska Native, 0.3% | Black or African American, 7.6% Unknown, 4.1% Hispanic or Latino, 14.6% Asian, 10.2% White, 63.2% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |