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The differences between finance management specialists and finance leaders 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 finance leader. Additionally, a finance leader has an average salary of $117,284, 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 finance leader are financial analysis, financial management, and business development.
| Finance Management Specialist | Finance Leader | |
| Yearly salary | $70,219 | $117,284 |
| Hourly rate | $33.76 | $56.39 |
| Growth rate | 17% | 17% |
| Number of jobs | 143,820 | 93,582 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 69% |
| 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.
The duties of a finance leader depend on one's place or industry of employment. Typically, their responsibilities revolve around monitoring the sales and financial operations in a company, preparing financial reports and statements, finding new sales opportunities, identifying the market and client needs, and maintaining records of all financial transactions. There are also instances where a finance leader may set and allocate budgets, perform audits in costs and expenditures, all while implementing the company's policies and regulations.
Finance management specialists and finance leaders have different pay scales, as shown below.
| Finance Management Specialist | Finance Leader | |
| Average salary | $70,219 | $117,284 |
| Salary range | Between $48,000 And $101,000 | Between $78,000 And $174,000 |
| Highest paying City | Washington, DC | San Francisco, CA |
| Highest paying state | New York | Oregon |
| Best paying company | PayPal | Apple |
| Best paying industry | Government | Finance |
There are a few differences between a finance management specialist and a finance leader in terms of educational background:
| Finance Management Specialist | Finance Leader | |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 69% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance management specialists' and finance leaders' demographics:
| Finance Management Specialist | Finance Leader | |
| Average age | 46 | 46 |
| Gender ratio | Male, 52.1% Female, 47.9% | Male, 60.0% Female, 40.0% |
| 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, 7.5% Unknown, 4.1% Hispanic or Latino, 14.2% Asian, 10.0% White, 63.8% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |