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The differences between finance managers 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 manager and a senior finance manager. Additionally, a senior finance manager has an average salary of $133,358, 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 senior finance manager are hyperion, financial performance, and financial analysis.
| Finance Manager | Senior Finance Manager | |
| Yearly salary | $101,374 | $133,358 |
| Hourly rate | $48.74 | $64.11 |
| Growth rate | 17% | 17% |
| Number of jobs | 125,345 | 139,639 |
| Job satisfaction | 5 | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 68% |
| 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 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 managers and senior finance managers have different pay scales, as shown below.
| Finance Manager | Senior Finance Manager | |
| Average salary | $101,374 | $133,358 |
| Salary range | Between $71,000 And $144,000 | Between $95,000 And $185,000 |
| Highest paying City | New York, NY | San Francisco, CA |
| Highest paying state | New York | California |
| Best paying company | Barclays | Roku |
| Best paying industry | Finance | Professional |
There are a few differences between a finance manager and a senior finance manager in terms of educational background:
| Finance Manager | Senior Finance Manager | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 68% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance managers' and senior finance managers' demographics:
| Finance Manager | Senior Finance Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 60.0% Female, 40.0% | Male, 70.3% Female, 29.7% |
| 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, 7.5% 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% |