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The differences between finance managers and finance analysts 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 finance analyst takes usually requires 2-4 years. Additionally, a finance manager has an average salary of $101,374, which is higher than the $69,887 average annual salary of a finance analyst.
The top three skills for a finance manager include financial analysis, CPA and customer service. The most important skills for a finance analyst are financial analysis, financial models, and financial data.
| Finance Manager | Finance Analyst | |
| Yearly salary | $101,374 | $69,887 |
| Hourly rate | $48.74 | $33.60 |
| Growth rate | 17% | 9% |
| Number of jobs | 125,345 | 138,600 |
| Job satisfaction | 5 | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 76% |
| Average age | 46 | 40 |
| 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.
A finance analyst is responsible for evaluating a company's financial data and historical reports to assess investment opportunities and provide accurate financial statements in support of business strategies and company performance prediction. A financial analyst's duties also include suggesting recommendations to boost operations efficiency and grow revenues, researching the current market performance and economic trends to adjust budget goals as needed, and managing client portfolios. Finance analysts must have excellent critical and analytical thinking skills to identify the best actions for the company's profitability.
Finance managers and finance analysts have different pay scales, as shown below.
| Finance Manager | Finance Analyst | |
| Average salary | $101,374 | $69,887 |
| Salary range | Between $71,000 And $144,000 | Between $46,000 And $104,000 |
| Highest paying City | New York, NY | San Francisco, CA |
| Highest paying state | New York | Connecticut |
| Best paying company | Barclays | The Citadel |
| Best paying industry | Finance | Finance |
There are a few differences between a finance manager and a finance analyst in terms of educational background:
| Finance Manager | Finance Analyst | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance managers' and finance analysts' demographics:
| Finance Manager | Finance Analyst | |
| Average age | 46 | 40 |
| Gender ratio | Male, 60.0% Female, 40.0% | Male, 56.2% Female, 43.8% |
| 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, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 11% | 7% |