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The differences between finance managers 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 manager and a finance planning manager. Additionally, a finance planning manager has an average salary of $109,162, which is higher than the $101,374 average annual salary of a finance manager.
The top three skills for a finance manager include financial analysis, CPA and customer service. The most important skills for a finance planning manager are financial analysis, financial planning analysis, and financial models.
| Finance Manager | Finance Planning Manager | |
| Yearly salary | $101,374 | $109,162 |
| Hourly rate | $48.74 | $52.48 |
| Growth rate | 17% | 17% |
| Number of jobs | 125,345 | 120,588 |
| Job satisfaction | 5 | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 73% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
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 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 managers and finance planning managers have different pay scales, as shown below.
| Finance Manager | Finance Planning Manager | |
| Average salary | $101,374 | $109,162 |
| Salary range | Between $71,000 And $144,000 | Between $78,000 And $152,000 |
| Highest paying City | New York, NY | San Francisco, CA |
| Highest paying state | New York | Delaware |
| Best paying company | Barclays | Metropolitan Water District of Southern California |
| Best paying industry | Finance | Manufacturing |
There are a few differences between a finance manager and a finance planning manager in terms of educational background:
| Finance Manager | Finance Planning Manager | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 73% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance managers' and finance planning managers' demographics:
| Finance Manager | Finance Planning Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 60.0% Female, 40.0% | Male, 69.8% Female, 30.2% |
| 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, 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% |