Money manager vs tax manager

The differences between money managers and tax 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 money manager and a tax manager. Additionally, a tax manager has an average salary of $96,100, which is higher than the $73,231 average annual salary of a money manager.

The top three skills for a money manager include BSA, anti-money laundering and bank secrecy act. The most important skills for a tax manager are CPA, client relationships, and tax planning.

Money manager vs tax manager overview

	Money Manager	Tax Manager
Yearly salary	$73,231	$96,100
Hourly rate	$35.21	$46.20
Growth rate	17%	17%
Number of jobs	58,982	79,204
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 59%	Bachelor's Degree, 68%
Average age	46	46
Years of experience	8	8

Money manager vs tax manager salary

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

	Money Manager	Tax Manager
Average salary	$73,231	$96,100
Salary range	Between $47,000 And $112,000	Between $70,000 And $131,000
Highest paying City	-	San Francisco, CA
Highest paying state	-	New York
Best paying company	-	Meta
Best paying industry	-	Finance

Differences between money manager and tax manager education

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

	Money Manager	Tax Manager
Most common degree	Bachelor's Degree, 59%	Bachelor's Degree, 68%
Most common major	Business	Accounting
Most common college	University of Pennsylvania	University of Southern California

Money manager vs tax manager demographics

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

	Money Manager	Tax Manager
Average age	46	46
Gender ratio	Male, 43.5% Female, 56.5%	Male, 58.5% Female, 41.5%
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, 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%

Differences between money manager and tax manager 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.

Tax manager example responsibilities.

Test and learned to analyze accounting processes managing SOX testing including accumulating documentation and reviewing other testers work.
Perform tax provision review to ensure compliance with ASC 740 and ASC 740-10 for public trade companies and private companies.
Pull data and work with Hyperion.
Used Lexis Nexis, RIA, and CCH to research multiple tax projects.
Prepare and review ASC 740 tax balances for the company s fifteen largest foreign subsidiaries.
Calculate, prepare and submit quarterly estimate payments without need for review from third party CPA.

Money manager vs tax manager skills

Common money manager skills

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

Common tax manager skills

CPA, 16%
Client Relationships, 7%
Tax Planning, 6%
Tax Compliance, 5%
Taxation, 4%
Tax Research, 4%