Financial Managers

Written By Keandra Wilson

 1. OVERVIEW

Financial Managers oversee the financial health of organizations by preparing reports, managing investment activities, ensuring compliance, and setting long-term financial goals. They work in diverse sectors including finance, insurance, manufacturing, and government.

  • 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, business, accounting, or economics

2. ROLE BREAKDOWN BY LEVEL

ENTRY LEVEL

  • Job Titles: Financial Analyst, Assistant Controller, Junior Accountant, Treasury Analyst

  • Education: Bachelor’s degree in Finance, Accounting, Business, or Economics

  • Experience: Internships or 1–2 years in related fields (e.g., accounting, sales, auditing)

  • Certifications (Optional/Recommended): CFA Level I candidate, CPA (in progress), Microsoft Excel certification

  • Core Duties:

    • Prepare and review financial statements and reports

    • Assist in budgeting and forecasting processes

    • Perform financial analysis and variance reporting

    • Help with internal audits and ensure compliance

  • Salary Range: $60,000–$95,000

MID LEVEL

  • Job Titles: Finance Manager, Budget Manager, Senior Analyst, Corporate Controller

  • Education: Bachelor’s degree; MBA or Master's in Finance preferred

  • Experience: 5–8 years in financial roles (accountant, analyst, treasurer, auditor)

  • Certifications (Preferred): CPA, CFA, CTP, CGFM, FP&A

  • Core Duties:

    • Lead budgeting, forecasting, and cash flow analysis

    • Oversee regulatory reporting and compliance audits

    • Manage junior finance staff

    • Partner with departments on financial planning

  • Salary Range: $95,000–$145,000

SENIOR LEVEL

  • Job Titles: Director of Finance, Chief Financial Officer (CFO), VP of Finance, Senior Financial Manager

  • Education: Bachelor’s or Master’s degree; MBA or executive education recommended

  • Experience: 10+ years in finance, with leadership roles

  • Certifications (Advantageous): CPA, CFA, PMP, FP&A

  • Core Duties:

    • Set strategic financial direction

    • Oversee investment, risk, and capital strategy

    • Lead M&A, expansion planning, and investor relations

    • Supervise finance teams across departments or global units

  • Salary Range: $150,000–$250,000+

3. HOW TO BECOME ONE

  • Minimum Education: Bachelor’s degree (Finance, Accounting, Business, Economics)

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

  • Training: On-the-job training, rotational finance programs, or analyst tracks

  • Licensure/Certifications:

    • CPA (Certified Public Accountant) – AICPA

    • CFA (Chartered Financial Analyst) – CFA Institute

    • CGFM (Certified Government Financial Manager) – AGA

    • CTP (Certified Treasury Professional) – AFP

    • FP&A (Financial Planning & Analysis) – AFP

  • Soft Skills:

    • Analytical and quantitative skills

    • Leadership and decision-making

    • Communication and presentation skills

    • Organizational and detail orientation

    • Advanced Excel and data modeling

4. SKILLS & TOOLS

Core Skills

  • Financial modeling and forecasting

  • Budgeting and variance analysis

  • Investment management

  • Strategic planning

  • Regulatory compliance

  • Risk and cash flow management

Tools & Software

  • Microsoft Excel, Power BI, and PowerPoint

  • ERP systems: SAP, Oracle, NetSuite

  • QuickBooks, Hyperion, Adaptive Insights

  • Bloomberg Terminal

  • Tableau, SQL, Python (for data analysis)

5. WORK ENVIRONMENT

  • Locations: Financial institutions, government offices, corporations, nonprofits

  • Schedule: Full-time; some roles require 40–60 hours/week

  • Culture: Collaborative, analytical, deadline-driven, strategic

  • Top Industries: Finance, Insurance, Government, Tech, Healthcare

6. JOB OUTLOOK

  • Annual Openings (2023–2033): ~75,100

  • Growth Drivers:

    • Growing complexity in financial regulation and risk

    • Rising demand for data-driven planning

    • Economic expansion and global business growth

  • Career Progression:

    • Analyst → Manager → Director → CFO

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 & Auditors | Salary: $81,680 | Education Level: Bachelor’s degree

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

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

  • Role: Insurance Underwriters | Salary: $79,880 | Education Level: Bachelor’s degree

8. RESOURCES FOR LEARNING & ADVANCEMENT

Certifications & Professional Orgs

Courses & Online Platforms

  • Coursera: Financial Management Specializations

  • edX: Corporate Finance MicroMasters

  • LinkedIn Learning: Advanced Financial Modeling

  • Udemy: Finance and Accounting Courses

Books

  • The CFO Guidebook by Steven M. Bragg

  • Financial Intelligence by Karen Berman

  • Principles of Corporate Finance by Brealey & Myers

  • The Essentials of Risk Management by Michel Crouhy

Videos & Channels

  • Wall Street Prep (YouTube)

  • Mergers & Inquisitions (YouTube)

  • Bionic Turtle (for FRM & CFA prep)

Communities & Forums

  • Reddit: r/FinancialCareers, r/CFA

  • AnalystForum.com

  • WallStreetOasis.com

9. REGIONAL DATA & EMPLOYMENT TRENDS

 

Keandra Wilson
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