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The differences between finance project managers and contract project 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 project manager and a contract project manager. Additionally, a finance project manager has an average salary of $105,050, which is higher than the $81,263 average annual salary of a contract project manager.
The top three skills for a finance project manager include project management, financial analysis and process improvement. The most important skills for a contract project manager are project management, project scope, and contract project.
| Finance Project Manager | Contract Project Manager | |
| Yearly salary | $105,050 | $81,263 |
| Hourly rate | $50.50 | $39.07 |
| Growth rate | 17% | 8% |
| Number of jobs | 253,611 | 159,765 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 66% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
A finance project manager handles the financial analysis of a project management process, including budgeting from the clients' requirements until the forecasting on project revenues. Finance project managers analyze financial statements and account transactions of a company, identifying business opportunities to generate more resources to increase revenue and profits. They create financial reports, recommending cost-reduction techniques to minimize loss while increasing the efficiency of the staff performance, strategizing procedures to maximize productivity, especially on meeting deadlines with high-quality deliverables.
A contract project manager is an executive professional who provides project management and business analysis to fill the needs of an organization. Contract project managers are required to monitor and inspect contract projects to maintain a high level of safety and quality traffic control in highly variable conditions. They assist contract project administration with the review of project progress reports. Contract project managers must also manage the relationship between clients and the organization while monitoring the progress of the project to ensure that it complies with the terms of the corporate contract.
Finance project managers and contract project managers have different pay scales, as shown below.
| Finance Project Manager | Contract Project Manager | |
| Average salary | $105,050 | $81,263 |
| Salary range | Between $73,000 And $150,000 | Between $53,000 And $124,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | Massachusetts |
| Best paying company | Meta | PRO Unlimited |
| Best paying industry | Technology | Health Care |
There are a few differences between a finance project manager and a contract project manager in terms of educational background:
| Finance Project Manager | Contract Project Manager | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | California Polytechnic State University-San Luis Obispo |
Here are the differences between finance project managers' and contract project managers' demographics:
| Finance Project Manager | Contract Project Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 63.1% Female, 36.9% | Male, 66.1% Female, 33.9% |
| Race ratio | 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% | Black or African American, 3.7% Unknown, 4.4% Hispanic or Latino, 17.6% Asian, 2.8% White, 70.9% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 11% | 4% |