Money manager vs accountant

The differences between money managers and accountants can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-8 years to become a money manager, becoming an accountant takes usually requires 2-4 years. Additionally, a money manager has an average salary of $73,231, which is higher than the $54,890 average annual salary of an accountant.

The top three skills for a money manager include BSA, anti-money laundering and bank secrecy act. The most important skills for an accountant are reconciliations, general ledger accounts, and account reconciliations.

Money manager vs accountant overview

	Money Manager	Accountant
Yearly salary	$73,231	$54,890
Hourly rate	$35.21	$26.39
Growth rate	17%	6%
Number of jobs	58,982	60,073
Job satisfaction	-	3
Most common degree	Bachelor's Degree, 59%	Bachelor's Degree, 71%
Average age	46	44
Years of experience	8	4

Money manager vs accountant salary

Money managers and accountants have different pay scales, as shown below.

	Money Manager	Accountant
Average salary	$73,231	$54,890
Salary range	Between $47,000 And $112,000	Between $41,000 And $72,000
Highest paying City	-	Washington, DC
Highest paying state	-	New York
Best paying company	-	Meta
Best paying industry	-	Technology

Differences between money manager and accountant education

There are a few differences between a money manager and an accountant in terms of educational background:

	Money Manager	Accountant
Most common degree	Bachelor's Degree, 59%	Bachelor's Degree, 71%
Most common major	Business	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Money manager vs accountant demographics

Here are the differences between money managers' and accountants' demographics:

	Money Manager	Accountant
Average age	46	44
Gender ratio	Male, 43.5% Female, 56.5%	Male, 38.2% Female, 61.8%
Race ratio	Black or African American, 7.4% Unknown, 4.1% Hispanic or Latino, 14.2% Asian, 10.0% White, 64.0% American Indian and Alaska Native, 0.3%	Black or African American, 8.6% Unknown, 4.0% Hispanic or Latino, 10.9% Asian, 15.0% White, 61.1% American Indian and Alaska Native, 0.5%
LGBT Percentage	11%	7%

Differences between money manager and accountant duties and responsibilities

Money manager example responsibilities.

Decrease manual processing time by successfully managing the implementation of a new software system for the BSA unit.
Assist clients with addressing BSA, AML & OFAC requirements resulting from regulatory actions against the clients.
Process fundamental and technical analysis for strategic trading of equities.
Assist in implementing effective procedures for the ACH department.
Perform daily vault balancing, ATM servicing and transaction approvals.
Review portfolio positioning and investment results with clients, consultants, and prospects.

Accountant example responsibilities.

Manage preparation of the statutory financial statements and financial aggregates in compliance with IFRS and local applicable norms.
Manage personnel financial matters including salaries, taxation procedures and other relate issues.
Manage and monitor accounting procedures for compliance with Sarbanes-Oxley and coordinate and facilitate external audit requirements.
Reconstruct and improve many balance sheet account reconciliations for easier reading and interpretation by senior level management.
Perform complex general accounting functions, including preparation of journal entries, account analysis and balance sheet reconciliations.
Maintain general ledgers and preparation of monthly and other periodic financial reports in accordance with GAAP and international accounting standards.

Money manager vs accountant skills

Common money manager skills

BSA, 18%
Anti-Money Laundering, 15%
Bank Secrecy Act, 11%
OFAC, 9%
Transaction Monitoring, 8%
Risk Management, 7%

Common accountant skills

Reconciliations, 14%
General Ledger Accounts, 6%
Account Reconciliations, 6%
GAAP, 5%
Payroll Tax Returns, 5%
Customer Service, 5%