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The differences between finance management specialists and senior 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 senior finance manager. Additionally, a senior finance manager has an average salary of $133,358, 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 senior finance manager are hyperion, financial performance, and financial analysis.
| Finance Management Specialist | Senior Finance Manager | |
| Yearly salary | $70,219 | $133,358 |
| Hourly rate | $33.76 | $64.11 |
| Growth rate | 17% | 17% |
| Number of jobs | 143,820 | 139,639 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 68% |
| 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 senior finance manager is an individual who supervises financial department staff members as well as monitors the daily financial operations within a company. Senior finance managers must keep track of the financial status and performance of the company so that they can identify areas for potential improvement. They review financial data and prepare reports to be presented to the management to help them in their business decision making. Senior finance managers must also maintain policies within the company and should have a deep understanding of financial regulations and legislations.
Finance management specialists and senior finance managers have different pay scales, as shown below.
| Finance Management Specialist | Senior Finance Manager | |
| Average salary | $70,219 | $133,358 |
| Salary range | Between $48,000 And $101,000 | Between $95,000 And $185,000 |
| Highest paying City | Washington, DC | San Francisco, CA |
| Highest paying state | New York | California |
| Best paying company | PayPal | Roku |
| Best paying industry | Government | Professional |
There are a few differences between a finance management specialist and a senior finance manager in terms of educational background:
| Finance Management Specialist | Senior Finance Manager | |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 68% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance management specialists' and senior finance managers' demographics:
| Finance Management Specialist | Senior Finance Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 52.1% Female, 47.9% | Male, 70.3% Female, 29.7% |
| 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, 14.3% Asian, 10.0% White, 63.8% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |