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The differences between treasurers 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 treasurer, 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 $80,467 average annual salary of a treasurer.
The top three skills for a treasurer include payroll, fraternity and bank accounts. The most important skills for a chief finance officer are payroll, CPA, and oversight.
| Treasurer | Chief Finance Officer | |
| Yearly salary | $80,467 | $143,947 |
| Hourly rate | $38.69 | $69.21 |
| Growth rate | 17% | 6% |
| Number of jobs | 18,358 | 145,184 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 72% |
| Average age | 46 | 52 |
| Years of experience | 8 | - |
The treasurer's general duty is to oversee the financial reports and monitor the expenses of the organization. A treasurer is required to demonstrate strong analytical and critical-thinking skills for financial decision-making. The treasurer is also required to keep documentation and deliver regular financial reports to the management. Treasurers are also responsible to study the current status of the organization to be able to provide suggestions on effectively managing expenses. They also need to be familiarized with the regulatory policies and ensure that the use of funds is compliant with the law.
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.
Treasurers and chief finance officers have different pay scales, as shown below.
| Treasurer | Chief Finance Officer | |
| Average salary | $80,467 | $143,947 |
| Salary range | Between $37,000 And $173,000 | Between $80,000 And $257,000 |
| Highest paying City | Cambridge, MA | Washington, DC |
| Highest paying state | Maine | California |
| Best paying company | Partners Group LTD | Baker McKenzie |
| Best paying industry | Manufacturing | Construction |
There are a few differences between a treasurer and a chief finance officer in terms of educational background:
| Treasurer | Chief Finance Officer | |
| Most common degree | Bachelor's Degree, 74% | Bachelor's Degree, 72% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between treasurers' and chief finance officers' demographics:
| Treasurer | Chief Finance Officer | |
| Average age | 46 | 52 |
| Gender ratio | Male, 48.0% Female, 52.0% | Male, 71.9% Female, 28.1% |
| Race ratio | Black or African American, 7.6% Unknown, 4.1% Hispanic or Latino, 14.5% Asian, 10.2% White, 63.2% 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% |