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The differences between portfolio 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 portfolio manager and a tax manager. Additionally, a portfolio manager has an average salary of $114,671, which is higher than the $96,100 average annual salary of a tax manager.
The top three skills for a portfolio manager include portfolio management, customer service and risk management. The most important skills for a tax manager are CPA, client relationships, and tax planning.
| Portfolio Manager | Tax Manager | |
| Yearly salary | $114,671 | $96,100 |
| Hourly rate | $55.13 | $46.20 |
| Growth rate | 17% | 17% |
| Number of jobs | 43,192 | 79,204 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 68% |
| 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.
A Tax Manager is responsible for managing tax reporting and compliance within an organization. They provide innovative tax planning and prepare state and federal tax returns for companies.
Portfolio managers and tax managers have different pay scales, as shown below.
| Portfolio Manager | Tax Manager | |
| Average salary | $114,671 | $96,100 |
| Salary range | Between $66,000 And $198,000 | Between $70,000 And $131,000 |
| Highest paying City | Stamford, CT | San Francisco, CA |
| Highest paying state | Connecticut | New York |
| Best paying company | The Citadel | Meta |
| Best paying industry | Finance | Finance |
There are a few differences between a portfolio manager and a tax manager in terms of educational background:
| Portfolio Manager | Tax Manager | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 68% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Southern California |
Here are the differences between portfolio managers' and tax managers' demographics:
| Portfolio Manager | Tax Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 66.6% Female, 33.4% | Male, 58.5% Female, 41.5% |
| 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, 7.5% 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% |