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
- Oversee management of financial data and procedures related to expenses generated by company, including processing of invoices, cutting of checks, etc.
- Analyze AP initiatives for adherence to industry standards and best practices, and pinpoint opportunities for growth and improvement.
- Manage accounts payable processes and/or team.
Common Career Paths for Accounts Payable Manager
Accounts Payable Managers may progress into high-paying roles like Financial Controller, where median compensation is $77K annually. An Accounting Manager role is the most common promotion for Accounts Payable Managers moving up the ladder, and pay for the position tends to be around the $61K mark. Another typical, albeit less common, transition for Accounts Payable Managers is an Accountant position, where earnings are usually $44K.
Accounts Payable Manager Job Listings
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Popular Skills for Accounts Payable Manager
Survey results imply that Accounts Payable Managers deploy a substantial tool kit of skills at work. 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. Skills that seem to negatively impact pay include Quickbooks, Accounts Receivable, and Payroll Administration. Most people who know Accounts Payable also know Accounting.
Pay by Experience Level for Accounts Payable Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Salaries of relatively inexperienced workers fall in the neighborhood of $43K, but folks who have racked up five to 10 years see a notably higher median of $52K. Accounts Payable Managers see a median salary of $56K after reaching one to two decades on the job. Survey participants with more than two decades under their belts actually report earning less than people with less experience; the former take home only $55K on average.
Pay Difference by Location
Surpassing the national average by 56 percent, Accounts Payable Managers in San Francisco receive some of the highest pay in the country. Accounts Payable Managers can also look forward to large paychecks in cities like Washington (+38 percent), New York (+27 percent), Seattle (+16 percent), and Philadelphia (+14 percent).