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The differences between senior finance specialists and finance managers can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a senior finance specialist, becoming a finance manager takes usually requires 6-8 years. Additionally, a finance manager has an average salary of $101,374, which is higher than the $89,779 average annual salary of a senior finance specialist.
The top three skills for a senior finance specialist include financial statements, financial data and financial analysis. The most important skills for a finance manager are financial analysis, CPA, and customer service.
Senior Finance Specialist | Finance Manager | |
Yearly Salary | $89,779 | $101,374 |
Hourly rate | $43.16 | $48.74 |
Growth Rate | 9% | 17% |
Number Of Jobs | 71,214 | 125,345 |
Job Satisfaction | - | 5 |
Most Common Degree | Bachelor's Degree, 68% | Bachelor's Degree, 66% |
Average Age | 40 | 46 |
Years Of Experience | 4 | 8 |
A finance specialist sells products and services at a financial institution. Finance specialists meet with customers to have a better understanding of their respective needs. The specialists offer insight into the trends in the financial market. They provide a suggestion on optimization strategies. It is expected of them to share their insight into the potential models in the business. The necessary skills for this job include strong communication, management experience, financial management, and analytical thinking.
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 finance specialists and finance managers have different pay scales, as shown below.
Senior Finance Specialist | Finance Manager | |
Average Salary | $89,779 | $101,374 |
Salary Range | Between $55,000 And $146,000 | Between $71,000 And $144,000 |
Highest Paying City | New York, NY | New York, NY |
Highest Paying State | New York | New York |
Best Paying Company | ZS | Barclays |
Best Paying Industry | Telecommunication | Finance |
There are a few differences between a senior finance specialist and a finance manager in terms of educational background:
Senior Finance Specialist | Finance Manager | |
Most Common Degree | Bachelor's Degree, 68% | Bachelor's Degree, 66% |
Most Common Major | Business | Business |
Most Common College | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior finance specialists' and finance managers' demographics:
Senior Finance Specialist | Finance Manager | |
Average Age | 40 | 46 |
Gender Ratio | Male, 47.9% Female, 52.1% | Male, 60.0% Female, 40.0% |
Race Ratio | Black or African American, 5.6% Unknown, 4.5% Hispanic or Latino, 7.7% Asian, 14.1% White, 68.0% American Indian and Alaska Native, 0.1% | 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 | 7% | 11% |