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The differences between portfolio managers and audit 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 portfolio manager and an audit manager. Additionally, an audit manager has an average salary of $121,419, which is higher than the $114,671 average annual salary of a portfolio manager.
The top three skills for a portfolio manager include portfolio management, customer service and risk management. The most important skills for an audit manager are CPA, internal audit, and audit reports.
| Portfolio Manager | Audit Manager | |
| Yearly salary | $114,671 | $121,419 |
| Hourly rate | $55.13 | $58.37 |
| Growth rate | 17% | 17% |
| Number of jobs | 43,192 | 70,168 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 75% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
A portfolio manager is responsible for managing the clients' investment portfolios to advise them of the best investment plans to achieve their financial goals and objectives. Portfolio managers determine the most suitable options by evaluating the clients' credit score and risk potential and the client's financial background. A portfolio manager should be highly knowledgeable and updated with the recent financial industry changes to decide on investment plans with maximum returns.
An audit manager is responsible for the complete audit process of finances in an organization. They work for banks and report directly to the audit committee. Based on findings gathered, a financial institution can gain vision into their variance and overall performance. They are also responsible for scheduling audits, initiating departmental audits, consolidation, and analysis of audit reports, and reviewing accounting procedures. Moreover, part of their tasks is to create audit finding presentations to be presented to the audit committee. It requires a high amount of accountability to be an effective audit manager.
Portfolio managers and audit managers have different pay scales, as shown below.
| Portfolio Manager | Audit Manager | |
| Average salary | $114,671 | $121,419 |
| Salary range | Between $66,000 And $198,000 | Between $82,000 And $178,000 |
| Highest paying City | Stamford, CT | Portland, ME |
| Highest paying state | Connecticut | Maine |
| Best paying company | The Citadel | Meta |
| Best paying industry | Finance | Manufacturing |
There are a few differences between a portfolio manager and an audit manager in terms of educational background:
| Portfolio Manager | Audit Manager | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 75% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between portfolio managers' and audit managers' demographics:
| Portfolio Manager | Audit Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 66.6% Female, 33.4% | Male, 66.0% Female, 34.0% |
| Race ratio | Black or African American, 7.5% Unknown, 4.1% Hispanic or Latino, 14.4% Asian, 10.1% White, 63.6% American Indian and Alaska Native, 0.3% | Black or African American, 7.6% Unknown, 4.1% Hispanic or Latino, 14.5% Asian, 10.2% White, 63.2% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |