Commercial Finance Manager Salary
For Commercial Finance Managers, yearly average wages total $96K annually. Nearly all receive medical and dental insurance and almost all get vision plans. Women make up a slight majority of Commercial Finance Managers (50 percent) survey respondents. Women are just slightly outnumbered, with male Commercial Finance Managers making up 50 percent of survey respondents. For the most part, Commercial Finance Managers enjoy their work and report high levels of job satisfaction. This snapshot results from replies to PayScale's salary survey.
|Salary||$64,341 - $123,291|
|Bonus||$2,027 - $17,391|
|Total Pay (||$69,805 - $144,830|
Job Description for Commercial Finance Manager
Simply put, the goal of a commercial finance manager is to increase profits for their business. These managers analyze various data from company performance and determine areas for improvement, so applicants should have up-to-date knowledge of trends in the marketplace in order to propose new ideas and opportunities. It is also important to keep an eye on the competition to develop the most effective strategies.Read More...
A commercial finance manager may also work with his/her company's marketing department to help develop profitable ideas for promotions and set prices for products. He/she also analyzes all of the company’s operations throughout the supply chain to determine where efficiency or cost-effectiveness can be improved. This is often a leadership position which involves working with a commercial finance team, so some hiring and disciplinary duties may be necessary to develop successful teams.
These managers will also help the finance and accounting departments within the company to ensure that they're operating efficiently. They will provide advice to these departments in areas such as profitability forecasting, performance reporting, marketing analysis, and new product development. These managers also help other managers develop policies and work protocols, including working with the finance department to develop plans, forecasts, and analyses. Generally, a minimum of a Bachelor’s degree in Accounting, Business or Finance is required, along with years of work experience in a relevant field. Some leadership experience may also be required. Some positions require a Master’s degree.
Commercial Finance Manager Tasks
- Prepare informational analyses on current processes, actual performance versus budget and prior year data.
- Assist Operations team in Monthly Operations Review.
- Identify areas for cost reductions and operational improvements.
- Provide analyses to Operations team.
Pay by Experience Level for Commercial Finance Manager
Pay by Experience for a Commercial Finance Manager has a positive trend. An entry-level Commercial Finance Manager with less than 5 years of experience can expect to earn an average total compensation of $80,000 based on 17 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Commercial Finance Manager with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $106,000 based on 19 salaries. An experienced Commercial Finance Manager which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $113,000 based on 12 salaries. A Commercial Finance Manager with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $102,000 based on 11 salaries.
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Key Stats for Commercial Finance Manager
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