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Finance Manager Salary

The median total income of Finance Managers is around $88K, and for the average worker in this area, a good chunk of that (approximately one-third, in fact) comes from commissions. Cash earnings for Finance Managers — which occasionally include more than $20K from bonuses and more than $13K from profit sharing — stretch from around $45K to approximately $127K. The most important factor affecting compensation for this group is the company, followed by the particular city and tenure. Men working as Finance Managers who took the survey just slightly outnumber women at 55 percent. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. Most workers in this position report high levels of job satisfaction. This overview is based on answers to PayScale's salary questionnaire.

$46,501 - $115,582
(Median)
$47K
$84K
$120K
MEDIAN: $83,908
10%
50%
90%

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$12.95 - $41.34
(Median)
$13
$20
$41
MEDIAN: $19.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$50K$100K$150K
Salary
$46,501 - $115,582  
   
Bonus
$496.55 - $19,549  
Profit Sharing
$762 - $12,966  
Commission
$1,200 - $87,823  
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).
)
$45,342 - $127,012  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 5,609
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$25$50$75
Hourly Rate
$12.95 - $41.34  
   
Overtime
$0.00 - $58.11  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$50K$100K$150K
Bonus
$496.55 - $19,549  
   
Commission
$1,200 - $87,823  
Profit Sharing
$762 - $12,966  
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).
)
$45,342 - $127,012  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 293
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Job Description for Finance Manager

Finance managers are responsible for analyzing the financials within an organization. They review debit, credit, cash flow, and expenses along with profits and losses. Every month, finance managers prepare reports for senior management to review. Budgets and costs of departmental operations are discussed. Managers are in charge of leading a team of accountants whose jobs it is to maintain the general ledger on a daily basis. Most financial positions require a degree; managers may work their way up the corporate ladder through the accounting department, but only after they demonstrate their extensive knowledge of cash management. It’s up to the finance manager to show how all costs are allocated throughout the company, providing information on capital and revenue. Finance managers are expected to show any issues of bad debt, including bill collection. They work to identify future capital and maintain cash flow information. It’s up to the manager to coordinate all analyses between the accounts payable, accounts receivable and the collections department. Each department plays an important role in the future of the company, so gathering such information every month is critical to the business. Most finance managers work closely with CEOs, CFOs, and the controller as well the accounting group. Maintaining all of this information can be challenging. That’s why having a good background in time management, advance accounting and good work ethics is so vital. The expression “month end” means that all of the money that’s done throughout the month needs to be booked in order to show what the company does on a monthly and a yearly basis. Accountants work extensive hours to gather this information.


Finance Manager Tasks

  • Identify areas for cost reductions and operational improvements.
  • Provide analyses to Operations team.
  • Prepare informational analyses on current processes, actual performance versus budget and prior year data.
  • Assist Operations team in Monthly Operations Review.

Common Career Paths for Finance Manager


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Finance Managers may experience a large salary bump if they progress into a role such as VP of Finance. The latter position pays an average of $136K annually. With an annual salary of $102K, Finance Director is the most common role for Finance Managers to subsequently assume on their way up the ladder. Transitioning into a Financial Controller role — which usually pays $77K — is also typical for Finance Managers, though less common by comparison.

Finance Manager Job Listings

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Popular Employer Salaries for Finance Manager


Known for taking on a considerable number of Finance Managers, Microsoft Corp, PepsiCo Inc, Cisco Systems Inc, NBC Universal, Inc., and L'Oreal USA are leading firms in the industry. Johnson & Johnson pays the most with a median salary of $127K, though there is little variation overall ($104K to $154K). Also paying near the top of the field are Cisco Systems Inc at $125K, The Gap Inc. at $118K, and Microsoft Corp, where Finance Managers annually earn $114K.

Morgan Stanley, Jones Lang LaSalle and Raytheon Co. are three other employers with a reputation for below-average pay, showing salaries around $80K, $86K, and $91K.

Popular Skills for Finance Manager


Finance Managers report using a large range of skills on the job. Most notably, skills in Financial Modeling, Strategic Planning, Forecasting, and Financial Analysis are correlated to pay that is above average, with boosts between 12 percent and 16 percent. Those listing Accounts Payable as a skill should be prepared for drastically lower pay. Accounts Receivable and Windows Operating System General Use also typically command lower compensation. The majority of those who know Financial Reporting also know Accounting. The majority of those who know Financial Analysis also know Forecasting, Budgeting, and Accounting.

Pay by Experience Level for Finance Manager

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Although individuals who have less than five years' experience earn $71K on average, people with five to 10 years benefit from a notably larger average of $92K. After working for 10 to 20 years, Finance Managers make a median salary of $97K. Folks who claim more than 20 years of relevant experience actually report a comparatively lower median income of $83K.

Pay Difference by Location


San Jose offers some of the highest pay in the country for Finance Managers, 47 percent above the national average. Finance Managers will also find cushy salaries in San Francisco (+27 percent), Dallas (+15 percent), Houston (+15 percent), and Seattle (+14 percent). Washington is the lowest-paying area, 6 percent south of the national average.

Finance Manager Reviews

What is it like working as a Finance Manager?

Finance Manager in Covington:
"Finance Manager."
Pros: Most of my day is spent coaching associates to perform in customer service and developing skill sets.

Finance Manager in Dayton:
"What I Like."
Pros: Managing people and I like the responsibilities of being a manager.
Cons: The hours spent at work and traveling.

What is it like working as a Finance Manager at American Express Co. (AMEX)?

Finance Manager in New York:
Pros: Decent company, with good benefits and great vacation days. Many groups allow telecommuting once a week or as needed.
Cons: There are layoffs once a year or two, as in most large companies.

Related Job Salaries

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Experience Affects Finance Manager Salaries



National Average
$88,000



Skills That Affect Finance Manager Salaries






Budgeting
up arrow 4%

National Average
$88,000

Financial Reporting
up arrow 2%

Budget Management
up arrow 2%

Microsoft Excel
up arrow 4%







Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 1135 votes.

Gender

Female
45 %
Male
55 %

Years of Experience

Less than 1 year
1%
1-4 years
17%
5-9 years
35%
10-19 years
33%
20 years or more
13%

Common Health Benefits

medical benefits Medical: 88% dental benefits Dental: 78%
vision benefits Vision: 66% employee benefits None: 10%
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