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The differences between finance management specialists and finance vice presidents 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 vice president. Additionally, a finance vice president has an average salary of $147,603, 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 vice president are CPA, financial analysis, and oversight.
| Finance Management Specialist | Finance Vice President | |
| Yearly salary | $70,219 | $147,603 |
| Hourly rate | $33.76 | $70.96 |
| Growth rate | 17% | 17% |
| Number of jobs | 143,820 | 111,219 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 75% |
| 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 vice president of finance is one of the highest-ranking executives in a company. He/She or she works under the chief financial officer, and both have similar duties that are often interchangeable. This executive's primary function is to oversee the company's financial records and project future financial plans and investments. The finance vice president ensures that the company's finances are managed suitably and effectively. This role's responsibilities include leading the team towards achieving the company's financial mission, monitoring the financial performance, preparing and presenting financial reports, and conducting audits on financial expenditures, assets, and liabilities.
Finance management specialists and finance vice presidents have different pay scales, as shown below.
| Finance Management Specialist | Finance Vice President | |
| Average salary | $70,219 | $147,603 |
| Salary range | Between $48,000 And $101,000 | Between $98,000 And $222,000 |
| Highest paying City | Washington, DC | San Francisco, CA |
| Highest paying state | New York | Alaska |
| Best paying company | PayPal | Baltimore City Community College |
| Best paying industry | Government | Manufacturing |
There are a few differences between a finance management specialist and a finance vice president in terms of educational background:
| Finance Management Specialist | Finance Vice President | |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 75% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance management specialists' and finance vice presidents' demographics:
| Finance Management Specialist | Finance Vice President | |
| Average age | 46 | 46 |
| Gender ratio | Male, 52.1% Female, 47.9% | Male, 73.7% Female, 26.3% |
| 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, 7.6% Unknown, 4.1% Hispanic or Latino, 14.5% Asian, 10.1% White, 63.4% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |