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The differences between risk 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 risk manager and a tax manager. Additionally, a risk manager has an average salary of $116,072, which is higher than the $96,100 average annual salary of a tax manager.
The top three skills for a risk manager include oversight, risk assessments and project management. The most important skills for a tax manager are CPA, client relationships, and tax planning.
| Risk Manager | Tax Manager | |
| Yearly salary | $116,072 | $96,100 |
| Hourly rate | $55.80 | $46.20 |
| Growth rate | 17% | 17% |
| Number of jobs | 75,795 | 79,204 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 68% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
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.
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.
Risk managers and tax managers have different pay scales, as shown below.
| Risk Manager | Tax Manager | |
| Average salary | $116,072 | $96,100 |
| Salary range | Between $84,000 And $160,000 | Between $70,000 And $131,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | New York |
| Best paying company | Credit Karma | Meta |
| Best paying industry | Technology | Finance |
There are a few differences between a risk manager and a tax manager in terms of educational background:
| Risk Manager | Tax Manager | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 68% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Southern California |
Here are the differences between risk managers' and tax managers' demographics:
| Risk Manager | Tax Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 59.3% Female, 40.7% | 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, 63.5% 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% |