Financial Manager Salary

Financial Managers in the United States with more than 10 years of experience in their profession represent roughly one-half of Financial Managers. Salaries average out to around $66K per year and spread from $37K to $111K per year. Total cash compensation for Financial Managers runs from $37K to $111K depending on bonuses that can occasionally exceed $15K and profit sharing that can reach almost $10K. Geography and tenure each impact pay for this group, with the former having the largest influence. A large number report receiving medical coverage from their employers and a majority collect dental insurance. Most workers in this position report high levels of job satisfaction. Women make up the majority of Financial Managers (64 percent) who completed the questionnaire. Figures cited in this summary are based on replies to PayScale's salary questionnaire.
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$40,253 - $106,489
(Median)
$40K
$66K
$110K
MEDIAN: $65,926
10%
50%
90%

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$13.69 - $32.33
(Median)
$14
$20
$32
MEDIAN: $20
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
$40,253 - $106,489  
   
Bonus
$0.00 - $15,241  
Profit Sharing
$484.79 - $10,342  
Commission
$0.00 - $10,000  
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).
)
$37,353 - $110,928  
Country: United States | Currency: USD | Updated: 1 Apr 2015 | Individuals Reporting: 824
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
$13.69 - $32.33  
   
Overtime
$0.00 - $46.89  
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
$0.00 - $15,241  
   
Commission
$0.00 - $10,000  
Profit Sharing
$484.79 - $10,342  
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).
)
$37,353 - $110,928  
Country: United States | Currency: USD | Updated: 1 Apr 2015 | Individuals Reporting: 135

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Job Description for Financial Manager

Typically, finance managers work in an office setting where they are in charge of a small group of other coworkers. Even though the work they do is not usually physically demanding, it can be mentally challenging because of the large groups of numbers that they deal with which require lots of patience and diligence. Most finance managers are required to have a college degree with a major in either economics, finance, or business, and some require experience at an entry-level position in order to get this type of position. Financial managers must usually have a good personality, be able to work with others, have good communication skills and knowledge of how to use a computer, and be able to generate reports using various types of spreadsheets with several different types of software.

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Financial Manager Tasks

  • Manage client accounts and act as the subject matter expert for budgetary decisions.
  • Refine and implement monthly, quarterly, and annual reports for designated groups.
  • Prepare and submit budget and resource reports and statements, with an eye towards compliance.
  • Perform ad hoc, non-routine financial analysis as needed.

Common Career Paths for Financial Manager


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As Financial Managers transition into upper-level roles such as Director of Financial Planning & Analysis, they may see a strong upturn in salary. Directors of Financial Planning & Analysis earn $123K on average per year. As Financial Managers progress in their field, many go on to become Financial Controllers. In fact, this transition is more common than anything else, and pay for the position is usually $77K per year. Another common career choice for Financial Managers is to move into an Accounting Manager role. Typically, Accounting Managers get paid $59K.

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Popular Skills for Financial Manager


Survey results imply that Financial Managers deploy a deep pool of skills on the job. Most notably, facility with Forecasting, Senior Financial Management, and Financial Analysis are correlated to pay that is significantly above average, leading to increases of 27 percent, 26 percent, and 14 percent, respectively. Those listing Payroll Administration as a skill should be prepared for drastically lower pay. Quickbooks and Accounts Payable also typically command lower compensation. Most people experienced in Accounting also know Financial Analysis.

Pay by Experience Level for Financial Manager

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


Although individuals who have less than five years' experience earn $57K on average, people with five to 10 years benefit from a notably larger average of $68K. On average, Financial Managers make $69K following one to two decades on the job. Financial Managers who have racked up more than two decades of experience report lower incomes overall; the average sum for this crowd comes out to only $67K.

Pay Difference by Location


Charlotte is home to an above-average pay rate for Financial Managers, 41 percent higher than the national average. Financial Managers will also find cushy salaries in Seattle (+41 percent), New York (+40 percent), Minneapolis (+37 percent), and Atlanta (+23 percent). The lowest-paying market is Austin, which sits 4 percent below the national average.

Financial Manager Reviews

What is it like working as a Financial Manager at Biewer Lumber?

Financial Manager in St Clair:
"Office Conditions."
Pros: My co-workers are the best part of my job. The diversity of work with the various companies certainly helps with burnout and boredom in my position even though every month I do have a routine in the types of work/projects that I must complete. The convenience of being close to home is nice but not necessarily something that would keep me from leaving for a better job.
Cons: There is a different set of rules for each department and my department is the most exploited and least rewarded in the office. Most of the department is underpaid because there is no report to show our "worth" to the company like sales can do. Annual salary increases seem to be based upon favoritism and personal relationships with the supervisor. Every year our department has been burdened with more and more work due to the company's growth and yet has experienced the least amount of wages increases compared to the rest of the office. No opportunities for growth or salary increases within the department and moving to a different department within the company has been next to impossible.

Related Job Salaries

United States (change)

Experience Affects Financial Manager Salaries




National Average
$64,000


Skills That Affect Financial Manager Salaries






Microsoft Excel
up arrow 4%

National Average
$64,000

Financial Reporting
up arrow 4%



Human Resources
up arrow 17%



Payroll Administration
up arrow 26%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 218 votes.

Gender

Female
64 %
Male
36 %

Years of Experience

Less than 1 year
2%
1-4 years
18%
5-9 years
29%
10-19 years
30%
20 years or more
21%

Common Health Benefits

medical benefits Medical: 84% dental benefits Dental: 67%
vision benefits Vision: 50% employee benefits None: 13%