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Financial Managers

Financial Managers
Quick Facts : Financial Managers*
2010 Median Pay$103,910
Entry Level EducationBachelor's degree
Work Experience in Related OccupationNone
Number of Jobs, 2012527,100
Job Outlook9% (Slower than average)
Employment Change46,300


Financial managers are in charge of the financial health and stability of an organization. Their job is to produce financial reports and direct investment activities. They also develop strategies and plans for the long-term financial goals for the company.

What Financial Managers Do

  • Prepare financial statements, business activity reports, and forecasts
  • Monitor financial details to ensure that legal requirements are met
  • Supervise employees who do financial reporting and budgeting
  • Review company financial reports and seek ways to reduce costs
  • Analyze market trends to find opportunities for expansion or for acquiring other companies

Work Environment

Financial managers work in many places, including banks and insurance companies. Most financial managers work full time, and many work long hours.
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Job Outlook

Employment among financial managers is expected to grow 9 percent from 2010 to 2020, due to services provided by financial managers, such as planning, directing, and coordinating investments, will continue to be in demand as the economy grows.
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Pay

The average salary of financial managers was $103,910 in 2010.
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Financial Managers*
Average Annual Salary, May 2010

Financial Managers

103910

Business Occupations

58154.0909

All Jobs in the U.S.

52312.5223
Financial Managers*
Percent Change in Employment

Financial Managers

8.78391

Business Occupations

9.55203445933082

All Jobs in the U.S.

15.767561808929724

Becoming a Financial Managers

Financial manager positions typically require a bachelor's degree and more than 5 years of experience in another business or financial occupation, such as loan officer, accountant, auditor, securities sales agent, or financial analyst.
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