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The differences between finance specialists and finance managers can be seen in a few details. Each job has different responsibilities and duties. Additionally, a finance manager has an average salary of $101,374, which is higher than the $61,666 average annual salary of a finance specialist.
The top three skills for a finance specialist include customer service, phone calls and cash handling. The most important skills for a finance manager are financial analysis, CPA, and customer service.
| Finance Specialist | Finance Manager | |
| Yearly salary | $61,666 | $101,374 |
| Hourly rate | $29.65 | $48.74 |
| Growth rate | 10% | 17% |
| Number of jobs | 97,216 | 125,345 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 66% |
| Average age | 43 | 46 |
| Years of experience | - | 8 |
A financial or finance specialist is the person who sells products and services at financial institutions. Finance specialists are financial professionals who use knowledge of accounting, tax laws, and finance for financial assistance. They may assist clients with corporate or personal finances. The primary skills they must have include interpersonal skills, formal accounting, excellent communication skills, management experience, and financial reporting. They should be equipped with vital customer service and analytical skills.
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.
Finance specialists and finance managers have different pay scales, as shown below.
| Finance Specialist | Finance Manager | |
| Average salary | $61,666 | $101,374 |
| Salary range | Between $37,000 And $100,000 | Between $71,000 And $144,000 |
| Highest paying City | Washington, DC | New York, NY |
| Highest paying state | Connecticut | New York |
| Best paying company | Barclays | |
| Best paying industry | Finance | Finance |
There are a few differences between a finance specialist and a finance manager in terms of educational background:
| Finance Specialist | Finance Manager | |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance specialists' and finance managers' demographics:
| Finance Specialist | Finance Manager | |
| Average age | 43 | 46 |
| Gender ratio | Male, 42.1% Female, 57.9% | Male, 60.0% Female, 40.0% |
| Race ratio | Black or African American, 8.6% Unknown, 3.9% Hispanic or Latino, 9.6% Asian, 10.0% White, 67.6% American Indian and Alaska Native, 0.3% | 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% |
| LGBT Percentage | 4% | 11% |