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The differences between finance management specialists and business manager-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 management specialist and a business manager-finance manager. Additionally, a business manager-finance manager has an average salary of $106,036, which is higher than the $70,219 average annual salary of a finance management specialist.
The top three skills for a finance management specialist include financial resources, financial reports and financial data. The most important skills for a business manager-finance manager are financial analysis, project management, and financial management.
| Finance Management Specialist | Business Manager-Finance Manager | |
| Yearly salary | $70,219 | $106,036 |
| Hourly rate | $33.76 | $50.98 |
| Growth rate | 17% | 17% |
| Number of jobs | 143,820 | 180,161 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 64% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
A finance management specialist is in charge of overseeing and managing a company's financial activities, ensuring accuracy and smooth workflow. They typically coordinate with different departments to gather accurate data, manage budgets and schedules, prepare cost and budget reports, and assess existing procedures to identify areas needing improvement. They must also maintain extensive records, produce sales forecasts, and participate in creating financial goals and objectives. Furthermore, as a finance management specialist, it is essential to develop strategies to optimize financial operations, all while implementing the company's policies and regulations.
A business manager/finance manager is responsible for handling the financial transactions of an organization, analyzing financial reports, and monitor investment activities. Business managers/finance managers strategize effective techniques to boost the organization's financial performance and identify business opportunities to increase revenues. They also prepare financial statements and assist senior management in making corporate decisions by conducting data and statistical analysis by studying market trends. A business manager/finance manager must have excellent critical thinking and analytical skills, especially in calculating costs and expenses to minimize the company's loss and stabilize profits.
Finance management specialists and business manager-finance managers have different pay scales, as shown below.
| Finance Management Specialist | Business Manager-Finance Manager | |
| Average salary | $70,219 | $106,036 |
| Salary range | Between $48,000 And $101,000 | Between $73,000 And $152,000 |
| Highest paying City | Washington, DC | San Francisco, CA |
| Highest paying state | New York | California |
| Best paying company | PayPal | ZS |
| Best paying industry | Government | Finance |
There are a few differences between a finance management specialist and a business manager-finance manager in terms of educational background:
| Finance Management Specialist | Business Manager-Finance Manager | |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 64% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance management specialists' and business manager-finance managers' demographics:
| Finance Management Specialist | Business Manager-Finance Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 52.1% Female, 47.9% | Male, 58.8% Female, 41.2% |
| Race ratio | Black or African American, 7.5% Unknown, 4.1% Hispanic or Latino, 14.3% Asian, 10.1% White, 63.6% American Indian and Alaska Native, 0.3% | Black or African American, 7.4% Unknown, 4.1% Hispanic or Latino, 14.1% Asian, 10.0% White, 64.1% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |