Career Detail


Financial Manager
The duties of financial managers vary with their specific titles, which include controller, treasurer or finance officer, credit manager, cash manager, risk and insurance manager.
The Job
Financial managers play an increasingly important role in mergers and consolidations and in global expansion and related financing. These areas require extensive, specialized knowledge to reduce risks and maximize profit. Financial managers increasingly are hired on a temporary basis to advise senior managers on these and other matters. In fact, some small firms contract out all their accounting and financial functions to companies that provide such services.
Work Environment
Working in comfortable offices, often close to top managers and to departments that develop the financial data those managers need, financial managers typically have direct access to state-of-the-art.
College Majors
bachelor's degree in finance, accounting, economics, or business administration.
Minimum Qualifications
Most financial managers need a bachelor's degree, and many have a master's degree or professional certification. Bank managers often have experience as loan officers. Financial managers also need strong interpersonal and business skills.
Personality traits helpful for this career
Interpersonal skills are important because these jobs involve managing people and working as part of a team to solve problems.
Quick Facts
  • Jobseekers are likely to face competition.
  • About 3 out of 10 work in finance and insurance industries.
  • A bachelor's degree in finance, accounting, or a related field is the minimum academic preparation, but employers increasingly seek graduates with a master's degree in business administration, economi
  • Experience may be more important than formal education for some financial manager positions-most notably, branch managers in banks.
Compensation and Outlook
Median annual wages, excluding annual bonuses and stock options, of wage and salary financial managers were $99,330 in May 2008. The middle 50 percent earned between $72,030 and $135,070.
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