Financial Administrator Salary
Earnings for Financial Administrators in the United States come in at around $48K annually on average. Geography is the biggest factor affecting pay for this group, followed by years of experience. Most Financial Administrators like their work and job satisfaction is high. Over a third of professionals in this line of work do not receive benefits; however, the larger part report medical coverage and just over two-fifths claim dental coverage as well. The vast majority of Financial Administrators (88 percent) who responded to the survey are women. Figures cited in this summary are based on replies to PayScale's salary questionnaire.
|Salary||$34,908 - $76,834|
|Bonus||$0.00 - $7,871|
|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).)
|$30,644 - $67,085|
|Hourly Rate||$13.24 - $24.79|
|Overtime||$18.42 - $36.06|
|Bonus||$0.00 - $7,871|
|Total Pay (||$30,644 - $67,085|
Job Description for Financial Administrator
Financial administrators are in charge of managing financial-related tasks for their company. They perform budget and payroll transactions, maintain separate account such as discretionary and grant funding, and maintain accurate financial records for tax-related purposes. They must follow company policies to process payments, approve money transfers, keep financial statements, review reimbursements, and approve purchase order requisitions. Additionally, they prepare financial reports, and collaborate with other departments as needed.Read More...
Financial administrators must provide excellent customer service and act professionally with interacting with external financial institutions. Additionally, they must work closely with other financial professionals to reach all organizational goals. In addition to working well with others, financial administrators must work well independently and have excellent problem solving skills. To help oversee budget requirements, financial administrators must have advanced bookkeeping knowledge, reconcile accounting records, and correct discrepancies. They need to be able to work well under pressure and to shifting financial circumstances. They monitor economic policy changes, and use company resources efficiently.
Generally, financial administrators work in an office environment with other finance professionals. One of their main tools is a personal computer with spreadsheet software that helps them calculate financial transactions. They also have proficiency with finance-related software to make projections for future use by the business.
A bachelor's degree in finance, accounting, administration, or a related field is required for this position. Experience in a similar position may be preferred, as may experience in a managerial role. (Copyright 2017 PayScale.com)
Financial Administrator Tasks
- Review and verify accuracy of financial and contract paperwork and processes.
- Create budget templates and serve as point of contact for questions and exceptions.
- Maintain accounts and follow up to verify and close invoices and collect fees.
- Document project status, obstacles, reporting and reviews.
Financial Administrator Job Listings
Popular Skills for Financial Administrator
Financial Administrators report using a pretty varied skill set on the job. Most notably, skills in Financial Analysis, General Ledger Accounting, Financial Reporting, and Accounting are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Human Resources and Accounts Receivable. Most people experienced in Accounting also know Bookkeeping and Payroll Administration.
Pay by Experience Level for Financial Administrator
Pay by Experience for a Financial Administrator has a positive trend. An entry-level Financial Administrator with less than 5 years of experience can expect to earn an average total compensation of $41,000 based on 130 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Financial Administrator with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $46,000 based on 83 salaries. An experienced Financial Administrator which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $47,000 based on 83 salaries. A Financial Administrator with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $50,000 based on 37 salaries.
Pay Difference by Location
For Financial Administrators, working in the bustling city of Washington has its advantages, including an above-average pay rate. Financial Administrators can also look forward to large paychecks in cities like Chicago (+23 percent), Houston (+22 percent), Oklahoma City (+17 percent), and Atlanta (+14 percent). With compensation 10 percent below the national average, Pittsburgh is not known for hefty paychecks and actually represents the lowest-paying market.
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Key Stats for Financial Administrator
Rated 5 out of 5
based on 60 votes.