Financial Coordinator Salary
Pay for Financial Coordinators in the United States sits in the ballpark of $18.00 per hour. The pay spectrum stretches from $13.38 per hour to $24.53. In the world of Financial Coordinators, overall cash allowance can occasionally include more than $4K from bonuses and, in some exceptional cases, $2K from profit sharing, causing incomes to vary widely between $29K and $55K. Geography and years of experience each impact pay for this group, with the former having the largest influence. Women account for the majority of Financial Coordinators who took the survey — 87 percent to be exact. The majority of Financial Coordinators claim high levels of job satisfaction. Not all workers are lucky enough to have benefits; in fact, slightly less than a third are without coverage. Medical insurance is claimed by a majority and dental insurance is reported by the greater part. The figures in this rundown are based on the results of PayScale's salary questionnaire.
Job Description for Financial Coordinator
Financial coordinators are generally responsible for record keeping within their organization. They create payment schedules to help customers handle outstanding payments, and they subsequently makes sure customers stick to these schedules. The main objective of a financial coordinator is to ensure their business maximizes revenue from the business it conducts. They oversee the majority of accounts payable and receiving transactions. as well as constantly evaluate incoming transactions and interest rates - recommending changes as appropriate to ensure maximum financial returns. Additionally, the financial coordinator is responsible for monitoring all outgoing vendor payments, ensuring payments go out on time and that no late fees or penalties are charged.Read More...
The day-to-day responsibilities of financial coordinators include maintaining accounting records in adherence to the organization's financial procedures, preparing internal and external financial reports, and preparing and recommending budget procedures. This position is generally full time, although financial coordinators' schedules vary depending on deadlines and the needs of their company. Financial coordinators' time is spent primarily in the office interacting with other members of the finance team and other employees within the organization. They typically report to a finance manager or the chief financial officer (CFO).
Financial coordinator jobs generally require a bachelor's degree in accounting or a related field, as well as at least three years' experience working in a finance environment. Excellent communication, organizational, and multitasking skills are required. Financial coordinators are required to have extensive knowledge in the finance field, and they must be proficient in basic computer software.
Financial Coordinator Tasks
- Collect, analyze, and report on financial data in databases, documents, and presentations.
- Verify, schedule, and prepare transaction information.
- Create and process invoices, accounts, and payments.
Financial Coordinator Job Listings
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Popular Skills for Financial Coordinator
Financial Coordinators seem to wield many skills on the job. Most notably, facility with Accounting, Budget Management, and Payroll Administration are correlated to pay that is significantly above average, leading to increases of 27 percent, 19 percent, and 17 percent, respectively. Those listing Financial Applications as a skill should be prepared for drastically lower pay. Scheduling and Billing also typically command lower compensation. Most people familiar with Accounts Receivable also know Accounts Payable and Financial Reporting. A tool kit that includes Insurance also typically contains Financial Reporting.
Pay by Experience Level for Financial Coordinator
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For many Financial Coordinators, extensive experience does not lead to significantly more money. Relatively untried employees who have less than five years' experience make $38K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $41K. Financial Coordinators bring in $43K after working for 10 to 20 years. People who have worked for more than 20 years report a median income of $45K, which is barely higher than the median for folks with 10 to 20 years of experience.
Pay Difference by Location
Home to some of the best pay for Financial Coordinators, New York offers exceptional salaries, 33 percent above the national average. Financial Coordinators will also find cushy salaries in Washington (+28 percent), Minneapolis (+25 percent), Houston (+24 percent), and Philadelphia (+11 percent). Austin ranks last in the field for pay, reporting salaries 10 percent below the national average. Employers in Atlanta and Orlando also lean toward paying below-median salaries (7 percent lower and 6 percent lower, respectively).
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Key Stats for Financial Coordinator
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