Business Unit Controller Salary
Wages for Business Unit Controllers in the United States are generous, with average pay above six figures ($97K) per year. In the world of Business Unit Controllers, overall cash allowance can occasionally include more than $25K from bonuses and, in some exceptional cases, $15K from profit sharing, causing incomes to vary widely between $62K and $147K. Career duration is the biggest factor affecting pay for this group, followed by geography. There are more male Business Unit Controllers than female among those who completed the questionnaire, making up 62 percent. Medical benefits are awarded to nearly all, and most earn dental coverage. Most Business Unit Controllers report high levels of job satisfaction. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.
|Salary||$60,499 - $133,523|
|Bonus||$3,882 - $25,239|
|Profit Sharing||$-0.50 - $15,152|
|Total Pay (||$61,674 - $147,137|
Job Description for Business Unit Controller
A business unit controller is an executive tasked with overseeing the operation's financial accounting and reporting. They typically have the entire accounting department of a company under their supervision and are expected to manage it in a manner that conforms to standard practices. Additionally, business unit controllers sign off on the financial reporting of an organization and must make sure that all reporting is as accurate and reliable as possible. Additionally, the controller normally sets up routine auditing systems to ensure everyone adheres to organizational standards.Read More...
The business unit controller maintains or implements all systems regarding the accounting in a company. They normally have oversight on payroll, accounts receivable, and accounts payable. They carefully monitor cash flow and handle budgeting and forecasting as required by their operation.
The business unit controller also work with external financial institutions in reporting of a company’s financial situation. They work with regulators and auditors to find the most efficient, accurate method of assessment of a company’s accounting and reporting processes. The controller typically has various accounting and financial department managers and supervisors as his direct reports and deals directly with the hiring or promotion for these positions.
The normal education requirements for this position includes a bachelor's degree in business or a related field. Larger organizations may also prefer a person to have a master’s degree in administration as well. A controller also must be a Certified Public Accountant (CPA).
Business Unit Controller Tasks
- Lead financial planning and analysis for the business unit, reviewing balance sheets for accuracy and correctness.
- Model financial performance and goals to inform strategic plans.
- Work for organization-wide compliance with financial controls and audits.
- Gather, analyze, and reconcile financial data, communicating, and disseminating results.
Common Career Paths for Business Unit Controller
Business Unit Controllers who go on to become VPs of Finance may see their salaries climb quite a bit. Median pay for VPs of Finance is $139K annually. Business Unit Controllers go on to become Corporate Controllers more often than anything even though median pay for the role is $94K. Business Unit Controllers who move into a Chief Financial Officer role, another well-traveled path for those in this field, tend to find salaries of $123K.
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Popular Skills for Business Unit Controller
Survey results suggest that Business Unit Controllers use a fairly large toolkit of professional skills. Most notably, skills in Forecasting, Financial Analysis, Financial Reporting, and Budgeting are correlated to pay that is above average, with boosts between 5 percent and 8 percent. At the other end of the pay range are skills like Budget Management, SAP SAP Financial Accounting and Controlling, and Accounting. Those proficient in Financial Analysis are, more often than not, also skilled in Accounting and Forecasting.
Pay by Experience Level for Business Unit Controller
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. Workers in their first five years can expect to earn $68K, but people who have been around for five to 10 years earn a noticeably bigger sum of $102K. Business Unit Controllers who work for 10 to 20 years in their occupation tend to earn about $112K. Business Unit Controllers with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $117K.
Pay Difference by Location
For Business Unit Controllers, Chicago provides a pay rate that is 22 percent greater than the national average. Business Unit Controllers can also look forward to large paychecks in cities like Dallas (+19 percent), Birmingham (+10 percent), Los Angeles (+9 percent), and Phoenix (+9 percent). In Charlotte, salaries are 18 percent below the national average and represent the lowest-paying market. Employers in Atlanta and Boston also lean toward paying below-median salaries (11 percent lower and 9 percent lower, respectively).
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Key Stats for Business Unit Controller
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