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Finance management specialist vs business manager-finance manager

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 vs business manager-finance manager overview

Finance Management SpecialistBusiness Manager-Finance Manager
Yearly salary$70,219$106,036
Hourly rate$33.76$50.98
Growth rate17%17%
Number of jobs143,820180,161
Job satisfaction--
Most common degreeBachelor's Degree, 61%Bachelor's Degree, 64%
Average age4646
Years of experience88

What does a finance management specialist do?

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.

What does a business manager-finance manager do?

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 specialist vs business manager-finance manager salary

Finance management specialists and business manager-finance managers have different pay scales, as shown below.

Finance Management SpecialistBusiness Manager-Finance Manager
Average salary$70,219$106,036
Salary rangeBetween $48,000 And $101,000Between $73,000 And $152,000
Highest paying CityWashington, DCSan Francisco, CA
Highest paying stateNew YorkCalifornia
Best paying companyPayPalZS
Best paying industryGovernmentFinance

Differences between finance management specialist and business manager-finance manager education

There are a few differences between a finance management specialist and a business manager-finance manager in terms of educational background:

Finance Management SpecialistBusiness Manager-Finance Manager
Most common degreeBachelor's Degree, 61%Bachelor's Degree, 64%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Finance management specialist vs business manager-finance manager demographics

Here are the differences between finance management specialists' and business manager-finance managers' demographics:

Finance Management SpecialistBusiness Manager-Finance Manager
Average age4646
Gender ratioMale, 52.1% Female, 47.9%Male, 58.8% Female, 41.2%
Race ratioBlack 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 Percentage11%11%

Differences between finance management specialist and business manager-finance manager duties and responsibilities

Finance management specialist example responsibilities.

  • Specialize in data collection logistics and documentation on specific vehicles and manage inventory using CRM applications.
  • Project team member on ERP implementations for several clients.
  • Execute and, validate all credit card purchases in ERP and with DFAS.
  • Process incoming checks from employees & other outside sources for deposit to the U.S. Treasury.
  • Ensure GAAP compliance in revenue recognition, forecasting, internal account structure management, reporting & analysis.
  • Prepare monthly, quarterly, and annual forecasts including trend/margin analysis, and ensuring proper GAAP revenue recognition.
  • Show more

Business manager-finance manager example responsibilities.

  • Project manage implementation of ERP forecasting and budgeting system.
  • Manage accounting operations, accounting period closing, account reporting, and reconciliations.
  • Manage senior financial analysts responsible for evaluating the financial risks of a portfolio of large property and casualty insurance programs.
  • Identify several ongoing reporting mistakes and leverage accounting experience to determine and implement solutions to align with the standard accounting policy.
  • Execute all aspects of management including payroll, A/R, A/P and OSHA.
  • Establish, coordinate, and supervise treasury functions and international currency management for multiple foreign currency accounts in various countries.
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Finance management specialist vs business manager-finance manager skills

Common finance management specialist skills
  • Financial Resources, 10%
  • Financial Reports, 7%
  • Financial Data, 6%
  • Budget Formulation, 6%
  • Budget Execution, 5%
  • Financial Management Systems, 5%
Common business manager-finance manager skills
  • Financial Analysis, 12%
  • Project Management, 5%
  • Financial Management, 4%
  • Oversight, 4%
  • Shared Services, 3%
  • Process Improvement, 3%

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