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The differences between fiscal managers and risk 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 fiscal manager and a risk manager. Additionally, a risk manager has an average salary of $116,072, which is higher than the $61,354 average annual salary of a fiscal manager.
The top three skills for a fiscal manager include fiscal management, payroll taxes and general ledger. The most important skills for a risk manager are oversight, risk assessments, and project management.
| Fiscal Manager | Risk Manager | |
| Yearly salary | $61,354 | $116,072 |
| Hourly rate | $29.50 | $55.80 |
| Growth rate | 17% | 17% |
| Number of jobs | 65,132 | 75,795 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 66% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
A fiscal manager supervises branch inventory project design to reinforce inventory levels by implementing the newest procedures and installation of software. A part of his/her or her duties and responsibilities are to execute all bookkeeping payroll functions which include employee pay adjustment processing and electronic deposits. Fiscal managers provide general oversight of monetary reporting and auditing of subcontract agencies to make sure fiscal compliance with contractual and funder requirements. They maintain individual files for every vendor or subcontractor invoices, analyze and archive vendor statements and solve billing discrepancies.
A risk manager is responsible for analyzing potential risks that may affect the organization's operations, reputation, and market credibility. Risk managers identify risk controls and discuss business contingency plans for unforeseen circumstances to prevent delays in operational services. They also develop compliance training and programs for all the employees to provide them the awareness of the safety and security regulations within the company premises. A risk manager must have excellent communication and leadership skills, especially on handling and investigating cases that might compromise the business stability and financial status.
Fiscal managers and risk managers have different pay scales, as shown below.
| Fiscal Manager | Risk Manager | |
| Average salary | $61,354 | $116,072 |
| Salary range | Between $43,000 And $85,000 | Between $84,000 And $160,000 |
| Highest paying City | Merced, CA | San Francisco, CA |
| Highest paying state | New Jersey | California |
| Best paying company | City of Detroit | Credit Karma |
| Best paying industry | Internet | Technology |
There are a few differences between a fiscal manager and a risk manager in terms of educational background:
| Fiscal Manager | Risk Manager | |
| Most common degree | Bachelor's Degree, 62% | Bachelor's Degree, 66% |
| Most common major | Accounting | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between fiscal managers' and risk managers' demographics:
| Fiscal Manager | Risk Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 34.8% Female, 65.2% | Male, 59.3% Female, 40.7% |
| Race ratio | Black or African American, 7.8% Unknown, 4.1% Hispanic or Latino, 15.0% Asian, 8.8% White, 63.9% American Indian and Alaska Native, 0.3% | Black or African American, 7.5% Unknown, 4.1% Hispanic or Latino, 14.4% Asian, 10.1% White, 63.5% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |