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The differences between finance management specialists and finance planning 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 finance planning manager. Additionally, a finance planning manager has an average salary of $109,162, 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 planning manager are financial analysis, financial planning analysis, and financial models.
| Finance Management Specialist | Finance Planning Manager | |
| Yearly salary | $70,219 | $109,162 |
| Hourly rate | $33.76 | $52.48 |
| Growth rate | 17% | 17% |
| Number of jobs | 143,820 | 120,588 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 73% |
| 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 finance planning manager oversees the budget and finance development processes within a company. Their responsibilities revolve around analyzing financial records, participating in auditing processes, producing reports and forecasts, and coordinating with different company personnel to obtain accurate data. A finance planning manager must also utilize fiscal tools, devise new business strategies and opportunities, and keep abreast of all the company's upcoming projects. Furthermore, as a manager, it is essential to lead and encourage the team, all while implementing the company's policies and regulations.
Finance management specialists and finance planning managers have different pay scales, as shown below.
| Finance Management Specialist | Finance Planning Manager | |
| Average salary | $70,219 | $109,162 |
| Salary range | Between $48,000 And $101,000 | Between $78,000 And $152,000 |
| Highest paying City | Washington, DC | San Francisco, CA |
| Highest paying state | New York | Delaware |
| Best paying company | PayPal | Metropolitan Water District of Southern California |
| Best paying industry | Government | Manufacturing |
There are a few differences between a finance management specialist and a finance planning manager in terms of educational background:
| Finance Management Specialist | Finance Planning Manager | |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 73% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance management specialists' and finance planning managers' demographics:
| Finance Management Specialist | Finance Planning Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 52.1% Female, 47.9% | Male, 69.8% Female, 30.2% |
| 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, 14.2% Asian, 10.0% White, 63.9% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |