Financial Manager

Written By Keandra Wilson

 1. OVERVIEW

Financial managers oversee the financial health and strategy of organizations. Their responsibilities include preparing financial statements, directing investment activities, and developing long-term financial strategies. They often lead teams and advise top executives on ways to increase profitability and reduce financial risk.

2024 Median Pay: $161,700/year ($77.74/hour)
Job Growth (2023–2033): +17% (much faster than average)
Typical Education: Bachelor’s degree in finance, accounting, economics, or related field

2. ROLE BREAKDOWN BY LEVEL

ENTRY LEVEL
Job Titles: Financial Analyst, Budget Analyst, Treasury Associate, Junior Accountant
Education: Bachelor’s degree in finance, accounting, economics, or business
Experience: 0–2 years (internship preferred)
Certifications (Optional): Excel Certification, Bloomberg Market Concepts, CPA-in-progress
Core Duties:

  • Support in creating financial reports and forecasts

  • Analyze costs and budget performance

  • Assist in monitoring legal compliance for financial documentation

  • Prepare financial data for audits and investment meetings
    Salary Range: $60,000–$90,000

MID LEVEL
Job Titles: Finance Manager, Controller, Risk Analyst, Senior Financial Analyst
Education: Bachelor’s degree + certification (CPA, CFA, CTP, FP&A preferred)
Experience: 3–7 years in a finance-related role
Certifications (Recommended): CPA, CFA, CTP, FP&A
Core Duties:

  • Oversee financial reporting and ensure regulatory compliance

  • Develop mid-range financial strategies

  • Supervise junior financial staff

  • Lead budgeting, forecasting, and variance analysis
    Salary Range: $95,000–$145,000

SENIOR LEVEL
Job Titles: Director of Finance, Chief Financial Officer (CFO), Treasurer, Risk Director
Education: Bachelor’s or Master’s in Finance or Business Administration
Experience: 8+ years with leadership and strategy responsibilities
Certifications (Preferred): CPA, CFA, MBA
Core Duties:

  • Set long-term financial goals and strategies

  • Manage company investments and funding plans

  • Oversee finance departments (accounting, treasury, risk)

  • Report financial performance to executives and boards
    Salary Range: $160,000–$250,000+

3. HOW TO BECOME ONE

  • Minimum Education: Bachelor’s in finance, accounting, or economics

  • Experience Path: Typically 5+ years in roles such as accountant, financial analyst, or auditor

  • Certifications: CPA, CFA, CGFM, CTP, FP&A (not mandatory but often required for advancement)

  • Soft Skills: Analytical thinking, leadership, decision-making, communication, and attention to detail

4. SKILLS & TOOLS Core Skills:

  • Financial analysis and forecasting

  • Investment and cash flow management

  • Compliance and risk analysis

  • Strategic budgeting and planning

  • Financial software literacy (e.g., Excel, ERP, SAP, Oracle)

Tools:

  • Microsoft Excel (advanced formulas, pivot tables, macros)

  • SAP, Oracle, NetSuite, QuickBooks Enterprise

  • Bloomberg Terminal, Power BI, Tableau

  • Risk Management tools (MetricStream, Resolver)

5. WORK ENVIRONMENT

  • Locations: Corporate HQs, banks, insurance firms, investment companies, government, non-profits

  • Schedules: Full-time; often 40–60+ hours/week during closing periods, budgeting seasons, or mergers

  • Conditions: High-pressure environments; team-based and executive-facing; heavy use of data and reports

6. JOB OUTLOOK

  • Demand Drivers: Increased emphasis on risk management, global finance, mergers/acquisitions

  • Annual Openings: ~75,100 through 2033

  • Growth Opportunities: CFO, Finance Director, Global Treasurer, Venture Fund Manager

7. RELATED OCCUPATIONS

  • Role: Financial Analysts | Salary: $101,910 | Education Level: Bachelor’s degree

  • Role: Budget Analysts | Salary: $87,930 | Education Level: Bachelor’s degree

  • Role: Accountants and Auditors | Salary: $81,680 | Education Level: Bachelor’s degree

  • Role: Personal Financial Advisors | Salary: $102,140 | Education Level: Bachelor’s degree

  • Role: Loan Officers | Salary: $74,180 | Education Level: Bachelor’s degree

8. RESOURCES FOR LEARNING & ADVANCEMENT Certifications & Courses:

  • Chartered Financial Analyst (CFA): www.cfainstitute.org

  • Certified Treasury Professional (CTP): www.afponline.org

  • Certified Public Accountant (CPA): www.aicpa.org

  • Certified Government Financial Manager (CGFM): www.agacgfm.org

  • Financial Modeling & Valuation Analyst: www.cfimarketplace.com

Books:

  • "Principles of Corporate Finance" by Brealey, Myers & Allen

  • "The CFO Guidebook" by Steven Bragg

  • "Financial Intelligence" by Karen Berman and Joe Knight

Videos & Channels:

  • Edspira (YouTube: corporate finance & accounting)

  • Finance Storyteller (YouTube: FP&A, finance careers)

  • Wall Street Prep and CFI channels

Communities:

  • r/FinancialCareers (Reddit)

  • Financial Modeling World Championships (ModelOff)

  • LinkedIn Groups: Finance Club, CFO Network, FP&A Professionals

9. REGIONAL DATA & EMPLOYMENT TRENDS

  • BLS Profile: Financial Managers page (https://www.bls.gov/ooh/management/financial-managers.htm)

  • CareerOneStop: Salary by ZIP code & state comparisons

  • Projections Central: State-by-state job growth and market outlook

 

Keandra Wilson
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