Accounts Payable Manager Salary
Job Description for Accounts Payable Manager
Accounts payable managers handle all the bills and invoices that a company must pay. As such, they must have very strong math and accounting skills. A small mistake can end up costing the company thousands of dollars, so great attention to detail is also essential. In addition, accounts payable managers must be organized and must have excellent computer skills --particularly with Excel and other accounting software.Read More...
Accounts payable managers will often oversee a team of accountants to ensure that they are following protocol. They also will often interview, hire and train their team members, and will provide assistance and help troubleshoot when problems arise. Accounts payable managers may also work with a company's clients more, so good interpersonal skills are usually also a prerequisite for this type of position. In addition, they usually report to (and provide reports for) a company's executives.
Since accounts payable managers play a large role in following the day-to-day movement of the company’s money, they must be trustworthy, capable and experienced. A bachelor's degree in accounting is usually the minimum educational requirement in addition to a good amount of work experience. Lastly, accounts payable managers must handle stress well and not be afraid to act as a leader or take responsibility for important matters.
Accounts Payable Manager Tasks
- Manage accounts payable processes and/or team.
- Analyze AP initiatives for adherence to industry standards and best practices, and pinpoint opportunities for growth and improvement.
- Oversee management of financial data and procedures related to expenses generated by company, including processing of invoices, cutting of checks, etc.
Common Career Paths for Accounts Payable Manager
As Accounts Payable Managers transition into upper-level roles such as Financial Controller, they may see a strong upturn in salary. Financial Controllers earn $77K on average per year. The most common career progression for Accounts Payable Managers leads to becoming an Accounting Manager, where average pay is $61K annually. However, many Accounts Payable Managers also opt to become Accountants. Typically, an Accountant brings home $44K.
Accounts Payable Manager Job Listings
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Popular Skills for Accounts Payable Manager
Accounts Payable Managers report using a deep pool of skills on the job. Most notably, facility with SAP SAP Financial Accounting and Controlling, People Management, and ADP Payroll System are correlated to pay that is significantly above average, leading to increases of 29 percent, 12 percent, and 6 percent, respectively. At the other end of the pay range are skills like Quickbooks, Payroll Administration, and Accounts Receivable. For most people, competency in Accounts Payable indicates knowledge of Accounting.
Pay by Experience Level for Accounts Payable Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For Accounts Payable Managers, more experience in the field does not usually mean bigger paychecks. The average worker who claims fewer than five years of experience earns around $43K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $52K. On average, Accounts Payable Managers make $55K following one to two decades on the job. Accounts Payable Managers with more than 20 years of experience report incomes that are no higher than those with 10 to 20 years on the job.
Pay Difference by Location
San Francisco offers some of the highest pay in the country for Accounts Payable Managers, 43 percent above the national average. Accounts Payable Managers can also look forward to large paychecks in cities like Washington (+38 percent), New York (+24 percent), Seattle (+15 percent), and Los Angeles (+14 percent). The lowest-paying market is Baltimore, which sits 13 percent below the national average. Employers also pay below the national average in Austin (11 percent lower) and St. Louis (2 percent lower).
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Key Stats for Accounts Payable Manager
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