Director of Finance & Administration Salary
The majority of Directors of Finance & Administration in the United States — a little under three-quarters — boast more than 10 years of experience in their profession. Salaries stretch from $53K to $152K per year, and the median is $88K annually. Total incomes of Directors of Finance & Administration incorporate potential for, in a few cases, more than $27K from bonuses and close to $21K from profit sharing; these performance components cause packages to range between $53K and $152K. Location is the biggest factor affecting pay for this group, followed by career duration. Medical benefits are awarded to most, and a strong majority earn dental coverage. Most Directors of Finance & Administration report high levels of job satisfaction. The majority of Directors of Finance & Administration (64 percent) who took the survey are female. 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
While not commonly seen, Directors of Finance & Administration who transition into a VP of Finance or Chief Financial Officer position may see a rise in pay. The median salary for VPs of Finance and Chief Financial Officers is $145K per year. The most common next step for a Director of Finance & Administration is to become a Chief Financial Officer or a VP of Finance. The former position pays an additional $33K per year on average, and the latter position pays $49K more per year.
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Popular Skills for Director of Finance & Administration
Directors of Finance & Administration report using a large range of 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 48 percent, 14 percent, and 10 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. Those educated in Accounting tend to be well versed in Financial Analysis.
Pay by Experience Level for Director of Finance & Administration
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Those in the early stages of their career can expect to make around $69K; however, individuals with five to 10 years of experience bring in $83K on average — a distinctly larger sum. On average, Directors of Finance & Administration make $97K following one to two decades on the job. Survey participants with more than two decades under their belts actually report earning less than people with less experience; the former take home only $96K on average.
Pay Difference by Location
With a pay rate for Directors of Finance & Administration that is 47 percent greater than the national average, Denver offers a comfortable salary for those in this profession. Directors of Finance & Administration can also look forward to large paychecks in cities like Dallas (+38 percent), San Francisco (+36 percent), San Diego (+36 percent), and Seattle (+34 percent). Directors of Finance & Administration in Nashville take home the lowest salaries, earning a whopping 25 percent less than the national average. Below-median salaries also turn up in Cincinnati and Austin (21 percent lower and 10 percent lower, respectively).
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Key Stats for Director of Finance & Administration
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