Financial Managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization.

The role of the Financial Manager, particularly in business, is changing in response to technological advances that have substantially reduced the amount of time it takes to produce financial reports. Financial Managers’ main responsibility used to be monitoring a company’s finances, but they now do more data analysis and advise senior managers on ways to maximize profits. They often work on teams, acting as business advisors to top executives.

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Financial Managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization.

The role of the financial manager, particularly in business, is changing in response to technological advances that have substantially reduced the amount of time it takes to produce financial reports. Financial managers’ main responsibility used to be monitoring a company’s finances, but they now do more data analysis and advise senior managers on ways to maximize profits. They often work on teams, acting as business advisors to top executives.

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Job Prospects


As with other managerial occupations, jobseekers are likely to face competition because there are more applicants than job openings. Candidates with expertise in accounting and finance—particularly those with a master's degree or certification—should enjoy the best job prospects.

Employment projections data for financial managers, 2016-26


Occupational Title SOC Code Employment, 2016 Projected Employment, 2026 Change, 2016-26 Employment by Industry
Percent Numeric
Financial Managers 11-3031 580,400 689,000 19 108,600 xlsx

SOURCE: U.S. Bureau of Labor Statistics, Employment Projections program

Employment projections data for financial managers, 2016-26


Occupational Title
Financial Managers
SOC Code
11-3031
Employment, 2016
580,400
Projected Employment, 2026
689,000
CHANGE, 2016-26
PERCENT
19
NUMERIC
108,600
EMPLOYMENT BY INDUSTRY
xlsx

SOURCE: U.S. Bureau of Labor Statistics, Employment Projections program

Pay


The median annual wage for financial managers was $125,080 in May 2017. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $66,480, and the highest 10 percent earned more than $208,000.

In May 2017, the median annual wages for financial managers in the top industries in which they worked were as follows:


Professional, Scientific, and Technical Services $147,040
Management of Companies and Enterprises $141,890
Manufacturing $124,120
Finance and Insurance $123,250
Government $110,610

Most financial managers work full time, and about 1 in 3 worked more than 40 hours per week in 2016.

Financial Managers


Median annual wages, May 2017


Note: All Occupations includes all occupations in the U.S. Economy.
Source: U.S. Bureau of Labor Statistics, Occupational Employment Statistics

Job Outlook


Employment of financial managers is projected to grow 19 percent from 2016 to 2026, much faster than the average for all occupations. However, growth will vary by industry.

Services provided by financial managers, such as planning, directing, and coordinating investments, are likely to stay in demand as the economy grows. In addition, several specialties within financial management, particularly cash management and risk management, are expected to be in high demand over the next decade.

Financial Managers


Percent change in employment, projected 2016-26


Note: All Occupations includes all occupations in the U.S. Economy.
Source: U.S. Bureau of Labor Statistics, Occupational Employment Statistics

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  Occupational Title Job duties Entry-Level education 2017 Median pay
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OCCUPATIONAL TITLE
Accountants and Auditors
JOB DUTIES
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ENTRY-LEVEL EDUCATION
Bachelor's Degree
2017 MEDIAN PAY
$69,350
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ENTRY-LEVEL EDUCATION
Bachelor's Degree
2017 MEDIAN PAY
$75,240
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ENTRY-LEVEL EDUCATION
Bachelor's Degree
2017 MEDIAN PAY
$84,300
OCCUPATIONAL TITLE
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JOB DUTIES
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ENTRY-LEVEL EDUCATION
High School Diploma or Equivalent
2017 MEDIAN PAY
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ENTRY-LEVEL EDUCATION
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Professional Recruiter and Staffing Organizations


  • National Association of Personnel Services
  • Association of Talent Acquisition Professionals
  • American Association of International Healthcare Recruitment
  • National Association of Executive Recruiters
  • National Association for Health Care Recruitment
  • Recruitment Process Outsourcing Association
  • American Staffing Association
  • Top Echelon Recruiting Network

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