Senior Finance Manager Salary
Commissions comprise a big part of overall income for Senior Finance Managers. The median take-home amount in this area is around $126K, and on average, over a third of that final number comes from commissions. Total cash compensation to Senior Finance Managers approaches anywhere from $87K on the lower end to $159K on the higher end; in exceptional cases, this can include more than $25K from bonuses and upwards of $18K from profit sharing. While career duration and the particular employer impact pay for this group, geography is the most influential factor. Job satisfaction is reported as high by the vast majority of workers. Nearly all enjoy medical while most get dental coverage. Vision coverage is also available to a large number. Men account for the majority of Senior Finance Managers who responded to the questionnaire — 64 percent to be exact. Respondents to the PayScale salary survey provided the data for this report.
|Salary||$81,800 - $141,782|
|Bonus||$4,803 - $24,819|
|Profit Sharing||$0.00 - $18,290|
|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).)
|$86,865 - $159,022|
Job Description for Senior Finance Manager
The senior finance manager is responsible for many of the monetary operations and decision for their organization. The senior finance manager controls a large amount of a company's capital, including how that capital is spent. To decide how the company's money is best spend, the senior finance manager must be able to create forecasts that explain and predict the results of particular investments. In addition, the senior finance manager is responsible for compiling information on assets and sales (as applicable), and communicating these figure to executives and subordinate managers in the organization. Finally, a senior finance manager is responsible for keeping open lines of communication with business partners to discuss potential joint ventures.Read More...
A senior finance manager typically needs a bachelor’s degree in finance, accounting, or another business-related field, as well as financial experience in their company's field (retail, manufacturing, etc.). In addition, the individual must have excellent communication and analytical skills and the ability to handle large, important decisions.
Senior Finance Manager Tasks
- Produce periodic reports on the performance of business initiatives and adherence to budgets.
- Manage organization's investments and cash needs, proposing changes in policies and procedures as new situations arise.
- Develop and review organization's budget, using forecasts and models to determine how to allocate funds.
- Supervise staff evaluating organization's financial performance, generating reports, analysis, and models.
Common Career Paths for Senior Finance Manager
Senior Finance Managers may experience a large salary bump if they progress into a role such as Senior Finance Director. The latter position pays an average of $177K annually. A Finance Director role is the most common promotion for Senior Finance Managers moving up the ladder. Pay for this role tends to be $105K per year. Another typical, albeit less common, transition for Senior Finance Managers is a VP of Finance position, where earnings are usually $139K.
Senior Finance Manager Job Listings
Popular Employer Salaries for Senior Finance Manager
Popular Skills for Senior Finance Manager
Survey participants wield an impressively varied skill set on the job. Most notably, skills in Senior Financial Management, Project Management, Forecasting, and Strategic Planning are correlated to pay that is above average, with boosts in pay of 7 percent. Skills that are correlated to lower pay, on the other hand, include Data Analysis. The majority of those who know Financial Reporting also know Budget Management and Financial Modeling. Those educated in Financial Analysis tend to be well versed in Financial Modeling and Budget Management.
Pay by Experience Level for Senior Finance Manager
Pay by Experience for a Senior Finance Manager has a positive trend. An entry-level Senior Finance Manager with less than 5 years of experience can expect to earn an average total compensation of $103,000 based on 47 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Senior Finance Manager with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $123,000 based on 247 salaries. An experienced Senior Finance Manager which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $131,000 based on 366 salaries. A Senior Finance Manager with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $137,000 based on 110 salaries.
Pay Difference by Location
San Jose is home to an above-average pay rate for Senior Finance Managers, 28 percent higher than the national average. Senior Finance Managers can also look forward to large paychecks in cities like San Francisco (+19 percent), Dallas (+7 percent), Seattle (+7 percent), and San Diego (+6 percent). Senior Finance Managers in Philadelphia report much lower salaries than the rest of the country — 25 percent below the national average — proving that residence is a major factor in overall pay. Employers in Minneapolis and Cincinnati also lean toward paying below-median salaries (16 percent less).
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Key Stats for Senior Finance Manager
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