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The differences between senior credit managers and finance 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 senior credit manager and a finance manager. Additionally, a senior credit manager has an average salary of $133,806, which is higher than the $101,374 average annual salary of a finance manager.
The top three skills for a senior credit manager include risk management, credit risk and credit analysis. The most important skills for a finance manager are financial analysis, CPA, and customer service.
| Senior Credit Manager | Finance Manager | |
| Yearly salary | $133,806 | $101,374 |
| Hourly rate | $64.33 | $48.74 |
| Growth rate | 17% | 17% |
| Number of jobs | 47,642 | 125,345 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 66% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
Senior credit managers are financial professionals who are responsible for overseeing the credit granting process for a financial institution. These managers are required to develop risk management solution strategies so that the institution can maintain risk and improve profitability. They must screen the credit history of applicants as well as to conduct interviews to minimize credit risk and potential monetary loss. They must also conduct credit analysis and financial risk evaluations by gathering and analyzing all types of credit information on new and existing customers.
A finance manager is responsible for monitoring the financial system of a company. Their tasks include handling their organization's financial status, generating cost estimates and budget goals, identifying business opportunities to increase revenues and profitability, improving financial strategies, reducing costs, analyzing account statements, processing invoice as needed, analyzing market trends, searching potential partnerships, and presenting reports. A finance manager must have excellent analytical skills and knowledge of the accounting and financial industry. They are responsible for providing the best recommendations for the organization's growth.
Senior credit managers and finance managers have different pay scales, as shown below.
| Senior Credit Manager | Finance Manager | |
| Average salary | $133,806 | $101,374 |
| Salary range | Between $84,000 And $211,000 | Between $71,000 And $144,000 |
| Highest paying City | Las Vegas, NV | New York, NY |
| Highest paying state | Alaska | New York |
| Best paying company | Credit Karma | Barclays |
| Best paying industry | Manufacturing | Finance |
There are a few differences between a senior credit manager and a finance manager in terms of educational background:
| Senior Credit Manager | Finance Manager | |
| Most common degree | Bachelor's Degree, 76% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior credit managers' and finance managers' demographics:
| Senior Credit Manager | Finance Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 64.2% Female, 35.8% | Male, 60.0% Female, 40.0% |
| Race ratio | Black or African American, 7.5% Unknown, 4.1% Hispanic or Latino, 14.4% Asian, 9.9% White, 63.7% American Indian and Alaska Native, 0.3% | Black or African American, 7.6% Unknown, 4.1% Hispanic or Latino, 14.6% Asian, 10.2% White, 63.2% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |