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The differences between senior directors of finance and chief finance officers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-8 years to become a senior director of finance, becoming a chief finance officer takes usually requires More than 10 years. Additionally, a chief finance officer has an average salary of $143,947, which is higher than the $137,505 average annual salary of a senior director of finance.
The top three skills for a senior director of finance include SR, business development and financial management. The most important skills for a chief finance officer are payroll, CPA, and oversight.
| Senior Director Of Finance | Chief Finance Officer | |
| Yearly salary | $137,505 | $143,947 |
| Hourly rate | $66.11 | $69.21 |
| Growth rate | 17% | 6% |
| Number of jobs | 98,470 | 145,184 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 72% |
| Average age | 46 | 52 |
| Years of experience | 8 | - |
The senior director of finance is responsible for the company's financial wellness. Finance directors are constituents of the senior executive team that incorporate operational and strategic roles, maintain accounting and financial control functions, and set up a financial strategy for the continued profitable growth of the business. Their responsibilities include supervising financial operations, managing and providing ongoing training to accounting personnel, and conducting the weekly and monthly financial evaluation. Also, the director will initiate budgets, allocate funds for capital projects, create annual financial plans and projections, as well as conduct an evaluation of financial risks and benefits on a business enterprise.
A chief financial officer is responsible for managing and reviewing the financial status of a company. Chief financial officers' duties include ensuring the accuracy of financial reports, monitoring the company's expenses and budget goals, providing recommendations to prevent financial loss and increase revenues, processing the company's tax obligations, and resolving financial disputes. A chief financial officer must have an impeccable knowledge of the financial industry, updated with the current market trend, and strong leadership and decision-making skills to support the organization's financial department.
Senior directors of finance and chief finance officers have different pay scales, as shown below.
| Senior Director Of Finance | Chief Finance Officer | |
| Average salary | $137,505 | $143,947 |
| Salary range | Between $88,000 And $212,000 | Between $80,000 And $257,000 |
| Highest paying City | Foster City, CA | Washington, DC |
| Highest paying state | California | California |
| Best paying company | Mayo Clinic | Baker McKenzie |
| Best paying industry | Pharmaceutical | Construction |
There are a few differences between a senior director of finance and a chief finance officer in terms of educational background:
| Senior Director Of Finance | Chief Finance Officer | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 72% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior directors of finance' and chief finance officers' demographics:
| Senior Director Of Finance | Chief Finance Officer | |
| Average age | 46 | 52 |
| Gender ratio | Male, 74.5% Female, 25.5% | Male, 71.9% Female, 28.1% |
| 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, 3.8% Unknown, 3.9% Hispanic or Latino, 7.9% Asian, 7.7% White, 76.1% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 11% | 12% |