Financial Reporting Manager Salary
Financial Reporting Managers in the United States can expect wages of $91K annually on average. Total cash compensation to Financial Reporting Managers bottoms out near $73K and approaches $127K on the high end; the biggest paychecks include approximately $19K from bonuses and almost $10K from profit sharing. Residence is the biggest factor affecting pay for this group, followed by years of experience. Nearly all report receiving medical coverage from their employers and almost all collect dental insurance. Men make up a slight majority of Financial Reporting Managers (59 percent) who responded to the survey. The majority of workers are highly satisfied with their job. The information for this snapshot was generated by responses to the PayScale salary survey.
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
- 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.
- Prepare forms and documents for company annual and quarterly financial disclosures and earnings releases.
- Provide financial data to support SEC filings.
Financial Reporting Manager Job Listings
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Popular Skills for Financial Reporting Manager
Financial Reporting Managers seem to require a number of specific skills. Most notably, skills in Securities and Exchange Commision Experience, Accounting, Financial Reporting, and Financial Analysis are correlated to pay that is above average. Those listing Budgeting as a skill should be prepared for drastically lower pay. Project Management and Windows Operating System General Use also typically command lower compensation. The majority of those who know Accounting also know Microsoft Excel.
Pay by Experience Level for Financial Reporting Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Workers in their first five years can expect to earn $88K, but people who have been around for five to 10 years earn a noticeably bigger sum of $97K. Financial Reporting Managers see a median salary of $96K after reaching one to two decades on the job. Survey respondents who have worked for more than 20 years actually report somewhat lower incomes of $90K.
Pay Difference by Location
Los Angeles offers some of the highest pay in the country for Financial Reporting Managers, 19 percent above the national average. Financial Reporting Managers can also look forward to large paychecks in cities like Houston (+18 percent), New York (+14 percent), San Francisco (+5 percent), and Washington (+2 percent). Financial Reporting Managers in Kansas City report much lower salaries than the rest of the country — 22 percent below the national average — proving that residence is a major factor in overall pay. Boston and St. Louis are a couple other places where companies are known to pay below the median — salaries are 20 percent lower and 13 percent lower, respectively.