Education Career Articles

Connect Facebook Connect Twitter Connect Google+ Connect Pinterest Connect Stumbleupon

Salary Information for Financial Managers

Career News November 15, 2013

Salaries for financial managers can run from a little over $36,000 to about $106,000, with the median falling around $68,000 per year. The wide variety has to do with education, experience and the company that employs you.

Nearly every firm, governmental agency, and other organization has one or more financial managers who create the financial reports, direct investments, and put into effect cash management strategies. Increasingly, computers are used to record and organize data, this allows financial managers to spend more time developing strategies and implementing the long-term goals of their organization.

Financial manager duties vary with their certain titles, which include controller, treasurer or finance officer, cash manager, credit manager, and risk manager. Controllers prepare the financial reports that summarize forecast and summarize the organization’s current and future financial position, through income statements, balance sheets, and analyses of future earnings and/or expenses. Controllers also are in charge of preparing special reports required by governmental regulatory authorities. Oftentimes, controllers oversee the accounting, audit, and budget departments.

What are Various Types of Financial Managers?

Most of us think of treasurers and finance officers, who direct the organization’s financial goals, objectives, and budgets, when we think about “company finances”. These professionals are commonly visualized as the bespectacled people with pocket protectors, and sure, that might apply considering how important details are in this career. They manage the investment of funds, manage associated risks, supervise cash management activities, execute capital-raising strategies to support a firm’s expansion, and deal with acquisitions and mergers.

There are also credit managers that oversee a firm’s issuance of credit, as well as establish credit-rating criteria. Their job is to monitor the collections of past-due accounts. Some financial managers specialize in international finance and develop financial and accounting systems for the banking transactions of multinational organizations.

Various financial institutions, such as banks, credit unions, and mortgage and finance companies, employ additional financial managers who oversee the day to day and more long term functions, such as lending, trusts, mortgages, and investments, or programs, including sales, general operations, and the ever expanding world of electronic financial services.

These managers may be required to solicit business, authorize loans, and direct the investment of funds, always adhering to federal and state laws and regulations. The ultimate goal is to be a Chief Financial Officer (CFO) and sit amongst the executives at the top of the company’s organizational chart.

What Do Financial Managers Participate In?

In addition to carrying out general duties, financial managers perform tasks unique to their organization or industry. As an example, government financial managers must be experts on the governmental functions such as appropriations and budgeting processes, but health care financial managers must be knowledgeable about issues surrounding healthcare financing, which can range from supply acquisition, remuneration of doctors, and even the possibility of a suit. Additionally, financial managers keep aware of special tax laws and regulations that affect their industry as well as regulations that affect the future.

As you can see, there are a wide variety of positions and duties to go with the wide range in salaries. Lastly, remember the needs of the company or government agency, as well as the budget, help to dictate the salary you will receive. The lesson here is to always aim high.

Searching Searching ...

Matching School Ads
5 Program(s) Found
  • Which career path will you take – Business, Nursing, Education, Psychology? Something else? GCU offers more than 100 majors to get you started!
  • Colangelo College of Business: Features more than 25 programs from the bachelor through the master's level, including several high-demand MBA programs and an accelerated accounting degree.
  • College of Nursing and Health Care Professions: Rich 25-year history providing outstanding health care and nursing degree programs, including an RN to BSN program & master's in nursing degrees.
  • College of Education: Whether you are looking to start or advance your career as a teacher or administrator, GCU offers bachelor’s and master’s in education degrees in key areas.
  • College of Humanities and Social Sciences: Provides a job focused education and features a variety of programs from counseling and psychology to justice studies, history and English literature.
  • Does something else interest you? GCU also offers programs in Doctoral Studies; Theology; Science, Engineering & Technology; and Fine Arts & Production. Speak with an enrollment counselor today!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Kaplan University Online Degree Programs
  • Attend college on your terms. Kaplan University offers fully online degree programs that fit any schedule.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
2 Program(s) Found
  • Online and ground-based program areas include Fashion Marketing and Management and more.
  • Students can study branding, event management, and public relations to help them prepare for a marketing career
  • Course topics include Fundamentals of Business, Brand Strategy, Project Management, and Principles of Market Research
  • Over 50 locations nationwide, with a student support team dedicated to helping students grow
  • Start your journey! Classes starting Aug 17.
Good for Working Adults
  • Flexible Scheduling
  • Financial Aid
1 Program(s) Found
  • Campus-based and online business programs include Entertainment Business (BS), Internet Marketing (BS), and Business Intelligence (MS)
  • Students will explore business concepts like marketing, global media management, and business technology and design
  • Courses designed to prepare students for a career in business and Career Development advisors available to all alumni
  • Full Sail offers accelerated programs, so a degree that would normally take four years takes 24 months on average
  • Online Courses

Searching Searching ...

Matching School Ads
5 Program(s) Found
  • There's still time to apply to Grand Canyon University and pursue your education. Learn more today!
  • Study on your schedule - GCU offers many programs 100% online to fit your busy lifestyle.
  • GCU offers a variety of opportunities to reduce the cost of furthering your education. Campus students may qualify for scholarships, while online students can take part in limited special offers.
  • A regionally accredited university, GCU also holds specialized accreditations and approvals for some of our core program offerings.
  • Degrees in business, education, nursing, humanities and social sciences, theology and more. Find the degree that fits you.
  • Talk to us today to learn more about financial aid and start dates!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Kaplan University Online Degree Programs
  • Attend college on your terms. Kaplan University offers fully online degree programs that fit any schedule.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Full Sail’s curriculum combines elements of creativity, art, business and life skills, technical prowess, and academic achievement.
  • Full Sail offers accelerated programs, so a degree that would normally take four years takes 24 months on average.
  • Students work with industry-standard tools and technologies, allowing them to gain practical knowledge and real-world experience.
  • Join us on Facebook, Twitter, YouTube and Instagram to interact with our community, read about grad success, and see campus images.
  • Online Courses

Login to your account

Can't remember your Password ?

Register for this site!