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The differences between finance managers and chief accountants can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-8 years to become a finance manager, becoming a chief accountant takes usually requires 2-4 years. Additionally, a finance manager has an average salary of $101,374, which is higher than the $61,481 average annual salary of a chief accountant.
The top three skills for a finance manager include financial analysis, CPA and customer service. The most important skills for a chief accountant are external auditors, reconciliations, and general ledger accounts.
| Finance Manager | Chief Accountant | |
| Yearly salary | $101,374 | $61,481 |
| Hourly rate | $48.74 | $29.56 |
| Growth rate | 17% | 6% |
| Number of jobs | 125,345 | 52,287 |
| Job satisfaction | 5 | 4 |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 69% |
| Average age | 46 | 44 |
| Years of experience | 8 | 4 |
A finance manager is responsible for monitoring the financial system of a company. Their tasks include handling their organization's financial status, generating cost estimates and budget goals, identifying business opportunities to increase revenues and profitability, improving financial strategies, reducing costs, analyzing account statements, processing invoice as needed, analyzing market trends, searching potential partnerships, and presenting reports. A finance manager must have excellent analytical skills and knowledge of the accounting and financial industry. They are responsible for providing the best recommendations for the organization's growth.
Chief accountants develop financial strategies, oversee the accounting department, make investment decisions, and develop financial strategies. They provide assistance to departments with their reviews and budgets, tax studies, and internal control. It is part of their job to respond to the accounting questions from time management. They take charge of monitoring and recording financial transactions based on corporate regulations and policies. Also, they recommend changes to the procedures of accounting.
Finance managers and chief accountants have different pay scales, as shown below.
| Finance Manager | Chief Accountant | |
| Average salary | $101,374 | $61,481 |
| Salary range | Between $71,000 And $144,000 | Between $43,000 And $87,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Barclays | IBM |
| Best paying industry | Finance | Retail |
There are a few differences between a finance manager and a chief accountant in terms of educational background:
| Finance Manager | Chief Accountant | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 69% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance managers' and chief accountants' demographics:
| Finance Manager | Chief Accountant | |
| Average age | 46 | 44 |
| Gender ratio | Male, 60.0% Female, 40.0% | Male, 57.0% Female, 43.0% |
| Race ratio | Black or African American, 7.6% Unknown, 4.1% Hispanic or Latino, 14.6% Asian, 10.2% White, 63.2% American Indian and Alaska Native, 0.3% | Black or African American, 8.2% Unknown, 3.9% Hispanic or Latino, 10.5% Asian, 15.3% White, 61.6% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 11% | 7% |