Finance Specialist Salary
Job Description for Finance Specialist
Financial specialist provide a variety of financial support services with their companies, directing operations related to financial accounting, cash management, accounts receivable, and accounts payable. They must provide timely payment when money is owed and demand timely payment from customers. Financial specialists must provide support for administrative activities within the financial team as well. Financial specialists serve as liaison between the customer and company, helping resolve any issues with payments or accounts. These professionals typically work full time in an office setting.Read More...
In the average day, financial specialists interact with a number of individuals at different levels of their organization; for this reason, strong interpersonal skills are required. Financial specialists are required to be detail oriented, as they review invoices for accuracy and oversee payment methods for accounts receivable and accounts payable. Organizational skills are useful for a financial specialist, because these professionals must be able to quickly locate files when a transaction is being discussed with customers.
The educational requirements for financial specialists typically include a bachelor’s degree in business administration or a related field. Several years of related work experience are needed as well. Computer skills are a requirement, as this job requires maintaining spreadsheets and documentation with financial data and account information. Experience with SAP systems is a common requirement as well.
Finance Specialist Tasks
- Process daily payments and follow up with customer billing inquiries.
- Review and analyze cost reports, contracts, or other financial data to advise clients and internal teams.
- Enter and analyze data, and create reports for internal and external audiences.
- Manage and coordinate audits and financial reconciliations.
Finance Specialist Job Listings
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Popular Skills for Finance Specialist
Survey results suggest that Finance Specialists use a fairly large toolkit of professional skills. Most notably, facility with Financial Reporting, Budget Management, and Financial Analysis are correlated to pay that is significantly above average, leading to increases of 40 percent, 13 percent, and 9 percent, respectively. At the other end of the pay range are skills like Accounts Payable, Payroll Administration, and Accounts Receivable. Most people who know Accounts Payable also know Financial Analysis and Payroll Administration.
Pay by Experience Level for Finance Specialist
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Survey participants with less than five years' experience pocket $42K on average, but those with five to 10 years of experience enjoy a much bigger median of $55K. Finance Specialists with one to two decades of relevant experience report an average salary of approximately $48K. Seasoned workers who boast more than two decades of relevant experience enjoy a median salary of $53K, which is substantially larger than the medians reported by folks with fewer years on their resumes.