Manager of Accounting & Financial Reporting Salary
Slightly less than three-fifths of Managers of Accounting & Financial Reporting in the United States have been in the field for more than 10 years. Pay can fall anywhere from $47K to $125K per year, but median earnings come to around $85K annually. Final cash compensation to Managers of Accounting & Financial Reporting varies from around $47K to approximately $125K; choice pay grades include potential for bonuses and profit sharing as high as $18K and $11K, respectively. Location is the biggest factor affecting pay for this group, followed by tenure. Women account for the majority of Managers of Accounting & Financial Reporting who responded to the questionnaire — 66 percent to be exact. The majority of Managers of Accounting & Financial Reporting claim high levels of job satisfaction. Most enjoy medical while more than half get dental coverage. Vision coverage is also available to the larger part.
Job Description for Manager of Accounting & Financial Reporting
Managers of accounting and financial reporting are responsible for providing a variety of financial and account support for their company and clients. They are responsible for all aspects of the financial reporting, including internal controls and payroll services. Managers of accounting and financial reporting also approve purchasing decisions and maintain records for tax purposes. Additionally, they record cash and card transactions (including keeping receipts), communicate with financial institutions, and arrange bank deposits. These professionals also must keep a file of vendor invoices and monitor accounts receivable.Read More...
Other tasks performed by managers of accounting and financial reporting include participating in business development, identifying new opportunities, preparing accurate financial reports, and managing accounting discrepancies to eliminate economic losses. They work effectively with management to prepare budgets, as well as tax forms. They analyze financial data, compare planned budgets and actual expenditures, work close with other business operations, and control managers to facilitate paperwork and increase financial transparency. In addition, They maintain strong relationships with executives within their organization and outside clients. In all tasks, these managers must follow specific accounting guidance set forth by their company, as well as strict regulatory standards.
To be successful in this position, managers of accounting and financial reporting should have strong interpersonal skills, be results oriented, have advanced financial knowledge, and be able to use their leadership abilities to motivate other financial professionals to reach all company objectives. They must also have excellent knowledge of auditing practices and methods. A bachelor's degree in accounting, finance, or a related field is needed for this position. Additional industry and leadership certifications may be preferred.
Manager of Accounting & Financial Reporting Tasks
- Manage all general ledger transactions and prepare reports and analyses.
- Provide regular and ad hoc reports, forecasts, and tax returns.
- Develop, implement, review, and evaluate procedures and policies.
- Hire, train, evaluate, and mentor accounting staff.
Common Career Paths for Manager of Accounting & Financial Reporting
Managers of Accounting & Financial Reporting' salaries tend to stay somewhat constant even when they advance into higher-level positions like Corporate Controller. On average, Corporate Controllers get paid about the same as Managers of Accounting & Financial Reporting do. Many Managers of Accounting & Financial Reporting choose to become Accounting Managers and Financial Controllers as their careers advance. However, folks in those positions report median salaries of $25K less and $8K less, respectively.
Manager of Accounting & Financial Reporting Job Listings
Search for more jobs:
Popular Skills for Manager of Accounting & Financial Reporting
Managers of Accounting & Financial Reporting generally report applying a varied skill set to their work. Most notably, skills in Financial Analysis, Financial Reporting, Accounting, and Microsoft Excel are correlated to pay that is above average. Those listing Accounts Receivable as a skill should be prepared for drastically lower pay. Quickbooks and Human Resources also typically command lower compensation. Those proficient in Accounting are, more often than not, also skilled in Financial Analysis and Microsoft Excel.
Pay by Experience Level for Manager of Accounting & Financial Reporting
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Workers in their first five years can expect to earn $77K, but people who have been around for five to 10 years earn a noticeably bigger sum of $91K. For Managers of Accounting & Financial Reporting, 10 to 20 years of experience on the job amounts to an average salary of $92K. Survey respondents who have worked for more than 20 years actually report somewhat lower incomes of $72K.
Pay Difference by Location
For those looking to make money, Managers of Accounting & Financial Reporting in Boston enjoy an exceptional pay rate, 35 percent above the national average. Managers of Accounting & Financial Reporting can also look forward to large paychecks in cities like San Francisco (+31 percent), Los Angeles (+17 percent), New York (+16 percent), and Tampa (+16 percent). The smallest paychecks in the market, 17 percent south of the national average, can be found in Dallas. Not at the bottom but still paying below the median are employers in Cincinnati and Minneapolis (12 percent lower and 7 percent lower, respectively).
Related Job Salaries
Key Stats for Manager of Accounting & Financial Reporting
Rated 4 out of 5
based on 29 votes.