Director of Finance & Administration Salary
More than two-thirds of Directors of Finance & Administration in the United States are seasoned employees who have more than 10 years of experience in the field. Pay ranges from $54K to $152K per year, and the average comes out to $88K per year. Final cash compensation to Directors of Finance & Administration varies from around $54K to approximately $152K; choice pay grades include potential for bonuses and profit sharing as high as $26K and $22K, respectively. Geography and career duration each impact pay for this group, with the former having the largest influence. Work is enjoyable for Directors of Finance & Administration, who typically claim high levels of job satisfaction. Directors of Finance & Administration survey participants are largely women, dominating at 63 percent. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. The data for this synopsis comes from respondents who took the PayScale salary survey.
Job Description for Director of Finance & Administration
Directors of finance and administration are experienced employees who oversee the daily financial and administrative activity for a company. This position typically require at least a bachelor’s degree in business administration, accounting, finance, or another related field; it also usually requires many years of experience working in administration and financial management, with both legal degrees and management experience preferred.Read More...
Directors of finance and administration oversee many of the internal finances and human resource tasks of an organization. They work to ensure proper functioning of all financial administration and financial processes, including accounting and budgets, employee salaries and benefits, and other internal processes. Directors of finance and administration also monitor employee records to ensure that employees are paid accurately through regular work pay, overtime, bonuses, and other benefits and allowances. They also work to make sure that this compensation is paid on time.
Directors of finance and administration work collaboratively with other departments to develop and manage budgets for projects and activities. They ensure that the funding is readily available and being appropriately assigned for the projects.
Directors of finance and administration are often preferred to have legal degrees or experience with the legalities of business finance because it is their responsibility to ensure that reports are maintained properly and that all accounting procedures are compliant with federal regulations and policies. They must monitor the monthly cash flow and report any concerns or discrepancies.
Directors of finance and administration must have exceptional communication skills, both verbal and written, since they will often be working closely with other departments within their company. They also must have strong management and organizational skills.
Director of Finance & Administration Tasks
- Develop, refine, and direct use of accounting systems and internal control of those systems.
- Coordinate all audits and work with internal teams to meet operating goals.
- Hire and supervise staff in daily operations.
- Direct profit forecasts, expense budgets, and accounting analyses.
- Direct daily management of budget and human resources.
Common Career Paths for Director of Finance & Administration
Directors of Finance & Administration who advance into the role of a VP of Finance or Chief Financial Officer are fairly uncommon. VPs of Finance and Chief Financial Officers on average earn $145K per year. Directors of Finance & Administration moving up in their careers tend to step into positions as Chief Financial Officers or VPs of Finance. The median paychecks in those roles are $32K higher and $48K higher, respectively.
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Popular Skills for Director of Finance & Administration
Directors of Finance & Administration seem to wield many skills on the job. Most notably, facility with Financial Modeling, Senior Financial Management, and Financial Analysis are correlated to pay that is significantly above average, leading to increases of 50 percent, 13 percent, and 9 percent, respectively. Those listing Accounts Payable as a skill should be prepared for drastically lower pay. Office Management and Payroll Administration also typically command lower compensation. The majority of those who know Accounting also know Financial Analysis.
Pay by Experience Level for Director of Finance & Administration
Median of all compensation (including tips, bonus, and overtime) by years of experience.
People who have worked for fewer than five years bring home $70K on average. Median compensation in the five-to-10 year group, however, is higher at approximately $83K. Directors of Finance & Administration with one to two decades of relevant experience report an average salary of approximately $97K. Folks who claim more than 20 years of relevant experience actually report a comparatively lower median income of $96K.
Pay Difference by Location
Home to some of the best pay for Directors of Finance & Administration, Dallas offers exceptional salaries, 37 percent above the national average. Directors of Finance & Administration will also find cushy salaries in San Diego (+35 percent), Houston (+33 percent), Seattle (+30 percent), and New York (+27 percent). Compared to the national average, Nashville Directors of Finance & Administration have considerably lower salaries, 25 percent below the national average to be exact. Location appears to be a major driving force in pay for those in this profession. Cincinnati and Austin are a couple other places where companies are known to pay below the median — salaries are 22 percent lower and 9 percent lower, respectively.
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Key Stats for Director of Finance & Administration
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