Financial Reporting Manager Salary
The average Financial Reporting Manager in the United States earns approximately $92K per year. Overall cash earnings for Financial Reporting Managers stretch from $75K on the lower end to $129K near the top, and the heftiest packages can encompass around $19K from bonuses and $14K from profit sharing. Location and experience level each impact pay for this group, with the former having the largest influence. Male Financial Reporting Managers are just a bit more common among those who completed the questionnaire than females ones, with male workers composing 57 percent of the field. For the most part, Financial Reporting Managers enjoy their work and report high levels of job satisfaction. Almost all enjoy medical while nearly all get dental coverage. Vision coverage is also available to a fair number. This overview is based on answers to PayScale's salary questionnaire.
|Salary||$72,188 - $118,119|
|Bonus||$1,226 - $19,451|
|Profit Sharing||$0.00 - $14,199|
|Total Pay (||$75,057 - $129,030|
Job Description for Financial Reporting Manager
A financial reporting manager is responsible for preparation of many of the financial reports required by an organization. On an average day, they may be ensuring the accuracy of 10-Q or 10-K reports for the Securities and Exchange Commission (SEC), pulling profit and loss financials for one or all remote locations of a large conglomerate, or working with others to improve the reporting process for various divisions of their company.Read More...
Depending on the size and type of their firm, financial reporting managers may be leaders of a team of accountants, bookkeepers, and/or other staff. They may also work alone or hold additional responsibilities if the firm is relatively small. Regardless of whether or not they are team leaders, they generally report to upper management, and often have interactions with others outside the organization, including the SEC.
Since financial reporting managers spend so much of their time dealing with financial and accounting affairs, they are generally expected to have a bachelor's degree in accounting, and most companies prefer that they also be licensed as CPAs (Certified Public Accountants). In many industries, familiarity with other organizations or legislation, such as the SEC and the Sarbanes-Oxley Act, are also required. Depending on what kind of organization they work for, they may need a certain amount of specialized knowledge about a particular industry, such as oil and gas exploration, commercial construction, or health care facilities.
While financial reporting managers are busy every day of the year, there are certain times of the month and year in which they are especially busy. End-of-month reporting is one example, as is the end of the calendar and/or fiscal year, when important financial documents for all employees, contractors, and the like must be generated. This position is primarily mentally taxing, with few physical demands, though having the stamina to work overtime hours when it's time to print and review large quantities of data is essential.
Financial Reporting Manager Tasks
- Prepare forms and documents for company annual and quarterly financial disclosures and earnings releases.
- Provide financial data to support SEC filings.
- Develop and put into practice company policies for accounting to ensure clarity, accuracy and transparency.
- Keep financial records up to date with all financial activity and in compliance with regulations.
Popular Skills for Financial Reporting Manager
Survey takers working as Financial Reporting Managers report using a large range of professional skills. Most notably, skills in Securities and Exchange Commision Experience, Database Management & Reporting, Microsoft Word, and Accounting are correlated to pay that is above average. Those listing Budgeting as a skill should be prepared for drastically lower pay. Project Management and SAP SAP Financial Accounting and Controlling also typically command lower compensation. It is often found that people who know Accounting are also skilled in Microsoft Excel.
Pay by Experience Level for Financial Reporting Manager
Pay by Experience for a Financial Reporting Manager has a positive trend. An entry-level Financial Reporting Manager with less than 5 years of experience can expect to earn an average total compensation of $92,000 based on 60 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Financial Reporting Manager with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $99,000 based on 180 salaries. An experienced Financial Reporting Manager which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $96,000 based on 130 salaries. A Financial Reporting Manager with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $94,000 based on 33 salaries.
Pay Difference by Location
For Financial Reporting Managers, working in the bustling city of New York has its advantages, including an above-average pay rate. Financial Reporting Managers will also find cushy salaries in Los Angeles (+17 percent) and Houston (+16 percent). Place of residence plays a huge part in a Financial Reporting Manager's salary, with Kansas City Financial Reporting Managers earning salaries that are 23 percent less than the national average. Boston and St. Louis are a couple other places where companies are known to pay below the median — salaries are 16 percent lower and 14 percent lower, respectively.
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Key Stats for Financial Reporting Manager
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