Commercial Finance Manager Salary
For Commercial Finance Managers, annual average wages total $96K per year. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 52 percent. Most Commercial Finance Managers report high levels of job satisfaction. Almost all enjoy medical and dental coverage in this occupation, and nearly all get vision benefits. Participants in PayScale's salary questionnaire provided the particulars of this report.
|Salary||$60,820 - $123,291|
|Bonus||$2,027 - $17,391|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$68,208 - $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.
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Pay by Experience Level for Commercial Finance Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Inexperienced workers earn around $79K, but people who have been around for five to 10 years pull down a much higher average of $106K. On average, Commercial Finance Managers make $113K following one to two decades on the job. People who have worked for 20 years or more actually report earning less than people who are in the middle of their careers; the veterans take home a mere $103K by contrast.
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Key Stats for Commercial Finance Manager
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