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The differences between senior tax managers and asset 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 tax manager and an asset manager. Additionally, a senior tax manager has an average salary of $92,363, which is higher than the $85,814 average annual salary of an asset manager.
The top three skills for a senior tax manager include CPA, client relationships and taxation. The most important skills for an asset manager are asset management, financial statements, and property management.
| Senior Tax Manager | Asset Manager | |
| Yearly salary | $92,363 | $85,814 |
| Hourly rate | $44.41 | $41.26 |
| Growth rate | 17% | 17% |
| Number of jobs | 65,323 | 64,732 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 68% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
A senior tax manager is responsible for overseeing an organization's tax responsibilities and ensuring that the accounting processes adhere to the state regulations and local procedures. Senior tax managers evaluate tax documents and prepare tax returns timely and efficiently. They assess the accuracy of tax provisions and implement strategic methods to resolve taxation issues by conducting research on existing tax laws and obligations. A senior tax manager must have excellent communication and organizational skills, especially in coordinating with clients to inform them of their tax updates and completion.
An asset manager is responsible for advising clients with their investment preferences and financial goals based on their assets' quantity and value. Asset managers regularly meet with their clients regarding their asset management's progress, recommending more investment options and considering the clients' needs. They manage financial portfolios and prepare stock market reports and forecasts as needed. An asset manager must have a broad knowledge of the financial industry and investment processes, identifying profit opportunities for long-term investment objectives.
Senior tax managers and asset managers have different pay scales, as shown below.
| Senior Tax Manager | Asset Manager | |
| Average salary | $92,363 | $85,814 |
| Salary range | Between $66,000 And $128,000 | Between $59,000 And $123,000 |
| Highest paying City | Washington, DC | New York, NY |
| Highest paying state | New Hampshire | New York |
| Best paying company | Microsoft | Deutsche Bank |
| Best paying industry | Finance | Finance |
There are a few differences between a senior tax manager and an asset manager in terms of educational background:
| Senior Tax Manager | Asset Manager | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 68% |
| Most common major | Accounting | Business |
| Most common college | University of Southern California | Stanford University |
Here are the differences between senior tax managers' and asset managers' demographics:
| Senior Tax Manager | Asset Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 62.2% Female, 37.8% | Male, 64.3% Female, 35.7% |
| Race ratio | 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% | Black or African American, 7.8% Unknown, 4.1% Hispanic or Latino, 15.0% Asian, 8.9% White, 63.8% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |