Finance Manager Salary

Commissions constitute a big slice (approximately one-third on average) of overall compensation for Finance Managers, and the median take-home for this group lies near $89K. In the world of Finance Managers, overall cash allowance can occasionally include more than $19K from bonuses and, in some exceptional cases, $13K from profit sharing, causing incomes to vary widely between $46K and $127K. The most influential factor affecting pay for this group is the specific employer, though the particular city and tenure have a (lesser) impact as well. Male Finance Managers are just a bit more common among those who completed the questionnaire than females ones, with male workers composing 54 percent of the field. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to the greater part. Job satisfaction is reported as high by the vast majority of workers.

$46,780 - $115,851
(Median)
$47K
$84K
$120K
MEDIAN: $84,107
10%
50%
90%

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$13.10 - $41.04
(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
$46,780 - $115,851  
   
Bonus
$493.06 - $19,426  
Profit Sharing
$765 - $12,942  
Commission
$1,163 - $88,275  
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).
)
$45,563 - $127,126  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 5,675
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
$13.10 - $41.04  
   
Overtime
$0.00 - $56.72  
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
$493.06 - $19,426  
   
Commission
$1,163 - $88,275  
Profit Sharing
$765 - $12,942  
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).
)
$45,563 - $127,126  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 299
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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 progress into high-paying roles like VP of Finance, where median compensation is $136K annually. As Finance Managers progress in their field, many go on to become Finance Directors. In fact, this transition is more common than anything else, and pay for the position is usually $102K per year. Another common career choice for Finance Managers is to move into a Financial Controller role. Typically, Financial Controllers get paid $77K.

Finance Manager Job Listings

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Popular Employer Salaries for Finance Manager


Finance Managers fill the offices of leading firms Microsoft Corp, PepsiCo Inc, Cisco Systems Inc, NBC Universal, Inc., and L'Oreal USA. Finance Managers in search of the best pay head to Johnson & Johnson, where the median salary rolls in at $130K. Although pay is top-notch overall, it does seem to be curbed at $154K, which isn't dramatically higher than the lower-end figure of $104K. Finance Managers will also find cushy salaries at Cisco Systems Inc (+$125K), Hewlett-Packard Company (+$123K), and The Gap Inc. (+$118K).

Jones Lang LaSalle, Raytheon Co. and PepsiCo Inc are three other employers with a reputation for below-average pay, showing salaries around $86K, $91K, and $97K.

Popular Skills for Finance Manager


Survey respondents exploit a significant toolbox of skills in their work. 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. Most people who know Financial Reporting also know Accounting. For most people, competency in Financial Analysis indicates knowledge of Forecasting, Budgeting, and Accounting.

Pay by Experience Level for Finance Manager

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


Respondents with less than five years' experience take home $71K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $92K. Finance Managers bring in $97K after working for 10 to 20 years. 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, 48 percent above the national average. Finance Managers will also find cushy salaries in San Francisco (+28 percent), Houston (+17 percent), Seattle (+15 percent), and Dallas (+15 percent). With compensation 5 percent below the national average, Washington is not known for hefty paychecks and actually represents the lowest-paying market. Not at the bottom but still paying below the median are employers in Miami and Phoenix (4 percent lower and 2 percent lower, respectively).

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
$89,000



Skills That Affect Finance Manager Salaries





Budgeting
up arrow 4%

Data Analysis
up arrow 4%

National Average
$89,000

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 1090 votes.

Gender

Female
46 %
Male
54 %

Years of Experience

Less than 1 year
1%
1-4 years
17%
5-9 years
35%
10-19 years
34%
20 years or more
13%

Common Health Benefits

medical benefits Medical: 88% dental benefits Dental: 79%
vision benefits Vision: 66% employee benefits None: 10%
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