Financial Coordinator Salary
The average Financial Coordinator in the United States earns approximately $18.00 per hour. Compensation ranges between $13.27 per hour and $24.37. Total cash compensation for Financial Coordinators runs from $29K to $55K depending on bonuses that can occasionally exceed $4K and profit sharing that can reach almost $2K. Geographic location is the biggest factor affecting pay for this group, followed by experience level. Most Financial Coordinators report high levels of job satisfaction. Health benefits are not claimed by all — slightly less than a third lack any form of coverage — but the larger part have medical insurance, and a majority have dental, too. Financial Coordinators who responded to the questionnaire are largely women, dominating at 86 percent. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.
|Salary||$34,651 - $61,975|
|Bonus||$0.00 - $3,548|
|Profit Sharing||$0.00 - $2,081|
|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).)
|$29,282 - $55,280|
|Hourly Rate||$13.27 - $24.37|
|Overtime||$15.35 - $33.37|
|Bonus||$0.00 - $3,548|
|Profit Sharing||$0.00 - $2,081|
|Total Pay (||$29,282 - $55,280|
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.
Common Career Paths for Financial Coordinator
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. It is often found that people who know Accounts Receivable are also skilled in Accounts Payable and Financial Reporting. A tool kit that includes Insurance also typically contains Financial Reporting.
Pay by Experience Level for Financial Coordinator
Pay by Experience for a Financial Coordinator has a positive trend. An entry-level Financial Coordinator with less than 5 years of experience can expect to earn an average total compensation of $38,000 based on 319 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Financial Coordinator with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $41,000 based on 152 salaries. An experienced Financial Coordinator which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $43,000 based on 155 salaries. A Financial Coordinator with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $44,000 based on 60 salaries.
Pay Difference by Location
Home to some of the best pay for Financial Coordinators, New York offers exceptional salaries, 37 percent above the national average. Financial Coordinators can also look forward to large paychecks in cities like Washington (+28 percent), Minneapolis (+25 percent), Houston (+13 percent), and Boston (+12 percent). In Austin, salaries are 10 percent below the national average and represent the lowest-paying market. Not at the bottom but still paying below the median are employers in Atlanta and Orlando (7 percent lower and 6 percent lower, respectively).
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Key Stats for Financial Coordinator
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