Assistant Treasurer Salary
Approximately two-thirds of Assistant Treasurers in the United States are seasoned employees who have more than 10 years of experience in the field. Pay ranges from $38K to $214K per year, and the average comes out to $101K per year. Total cash compensation for Assistant Treasurers runs from $38K to $214K depending on bonuses that can occasionally exceed $54K and profit sharing that can reach almost $21K. Geography and career length each impact pay for this group, with the former having the largest influence. Almost all report receiving medical coverage from their employers and a large number collect dental insurance. Work is enjoyable for Assistant Treasurers, who typically claim high levels of job satisfaction. Women are just slightly outnumbered, with male Assistant Treasurers making up 50 percent of survey respondents. Women make up a slight majority of Assistant Treasurers (50 percent) survey respondents.
Job Description for Assistant Treasurer
Assistant treasurers are responsible for managing and overseeing the financial accounts of their organization, as well as providing global oversight and guidance for all cash-management activities. The position requires extreme discretion and advanced knowledge of accounting, as these treasurers must develop and maintain advantageous relationships with banks and other financial institutions to further the success of their own organization.Read More...
Assistant treasurers are employed by a wide range of hosts, from small companies to corporate headquarters of manufacturing giants. They generally work in office environments, but may be required to travel frequently depending on their employer. When working from their central office, duties may include directing cash-management, overseeing banking relationships, and managing direct reports. They usually work with other office staff and financial personnel and must be well-suited for communication and punctuality, as their daily routine may include several meetings with both clients and department heads.
Applicants for the position should be Certified Treasury Professionals with many years of experience in treasury and/or banking operations. An undergraduate degree is almost always required, and those with Master's degrees in accounting, economics, or finance, are often preferred. Assistant treasurers often work long, strenuous hours and must be well-suited to handle the pressure that comes with managing financial assets. Their typical workday may begin early to attend meetings, analyze paperwork, and guide direct reports, all while being aware and ready to identify risks with respect to treasury operations.
Assistant Treasurer Tasks
- Support treasurer, management, and other groups in processing financial information and conducting financial analysis.
- Manage company banking, calculate daily or weekly cash needs.
- Assist with administration of a corporate treasury and cash management.
- Draft reports on company debts, complying with corporate and government regulations.
Common Career Paths for Assistant Treasurer
Assistant Treasurers who go on to become Chief Financial Officers may see their salaries climb quite a bit. Median pay for Chief Financial Officers is $123K annually. The most common promotion for Assistant Treasurers is Top Corporate Treasurer, a position that typically pays $101K annually. Another standard transition for Assistant Treasurers seeking advancement is to assume a Treasurer role, where pay is often $76K.
Assistant Treasurer Job Listings
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Popular Skills for Assistant Treasurer
Assistant Treasurers report using a diverse set of skills on the job. Most notably, facility with Investor Relations, Investment Management, and Risk Management / Risk Control are correlated to pay that is significantly above average, leading to increases of 66 percent, 53 percent, and 23 percent, respectively. Those listing Payroll Administration as a skill should be prepared for drastically lower pay. Accounts Payable and Bookkeeping also typically command lower compensation. Those proficient in Cash Flow Management are, more often than not, also skilled in Investment Management.
Pay by Experience Level for Assistant Treasurer
Median of all compensation (including tips, bonus, and overtime) by years of experience.
In general, experience and pay appear to be strongly linked; those with more experience usually bring in higher incomes. Relatively untried employees who have less than five years' experience make $55K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $100K. After 10 to 20 years, professionals can make it pretty big; the median salary sits in the six-figure neighborhood of $118K. People who have worked for more than 20 years report a median income of $123K, which is barely higher than the median for folks with 10 to 20 years of experience.