Financial Manager Financial Managers salary statistic

Salary Range: $71.2k- $187k

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Salary Range: $71.2k - $187k

Financial Manager Salary Report: Job Description

Financial managers work for a variety of companies in a variety of industries. Their job is to bes sure that the principals in the organization have a full understanding of their financial position. This includes opportunities, risks, and areas of weakness. In addition to being able provide information about the current financial situation, they must also provide advice on how to achieve goals and to reverse course when things look bad.

Individuals also hire financial management consultants to help plan for their financial futures. These professionals help with financial risk management and salary planning, retirement planning, investments, and estate planning.

Financial management professionals are often given the task of establishing financial goals for the organization, or (if they are consultants) their clients. Many people assume that financial management is needed when a company or individual is in trouble. In truth, financial planning is needed even when everything seems to be in the black.

This is a job that requires great analytical skills, organization, and public speaking skills. The latter is because this job often requires presenting findings in ways that laypersons can understand. The most successful financial managers are able to take past findings and extrapolate those into accurate predictions for the future.

Financial Management Salary Report: Educational Requirements

In order to earn a financial reporting manager salary or work in a similar field, a minimum of a bachelor’s degree is required. Some of the most common degrees include:

  • Finance
  • Business Management
  • Investment Banking
  • Business Administration
  • Financial Management
  • Accounting

Many management positions in this field require analysts to have a master’s degree.

In addition to having a college degrees, there is a veritable alphabet soup of certifications that financial analysts may be asked to obtain. The specifics of this depends on the requirements of their employer, regulatory requirements, and what they feel will inspire confidence in their clients. Here are just a few examples:

  • Certified Fund Specialist
  • Certified Financial Analyst
  • Certified Financial Planner
  • Chartered Life Underwriter
  • Chartered Investment Counselor

In many cases, companies will sponsor the cost of getting these certificates. However, independent contractors will need to pursue these on their own.

Financial Managers Salary Report: Salary And Benefits Information

The median salary for this career is just under 70K. The salary range without benefits or commissions starts at 40K and goes up to about 110K. Very successful analysts can earn up to 20K or more in bonuses. These are usually full time positions that are salaried. Health and other benefits are normally included. The exception to this are independent contractors and 1099 consultants. A financial analyst manager salary can be quite high if they are working for a company with a structured bonus plan.

Career Outlook And Other Notes

It is predicted that their will be growth in this field. However, the growth will match overall growth averages. If you want to get a job in this field but don't know how to write perfect papers for the application ask " <!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> write a cover letter for me" from experts in this field.