Senior Finance Manager Salary
Salaries for Senior Finance Managers in the United States are generous, with average pay above six figures ($115K) per year. Cash earnings for Senior Finance Managers — including $25K in bonuses and $18K in profit sharing proceeds near the top of the pay scale — generally stretch from $87K to $160K depending on individual performance. Geography is the biggest factor affecting pay for this group, followed by experience level. Most workers in this position report high levels of job satisfaction. Nearly all enjoy medical while most get dental coverage. Vision coverage is also available to a large number. The figures in this rundown are based on the results of PayScale's salary questionnaire.
|Salary||$82,339 - $142,837|
|Bonus||$4,970 - $25,001|
|Profit Sharing||$0.00 - $18,365|
|Total Pay (||$87,173 - $159,793|
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 who transition into a Senior Finance Director role may receive large pay increases as the latter position pays an average $177K per year. Many Senior Finance Managers choose to become Finance Directors and Chief Financial Officers as their careers advance. However, folks in those positions report median salaries of $23K less and $5K less, respectively.
Senior Finance Manager Job Listings
Search for more jobs:
Popular Skills for Senior Finance Manager
Survey participants wield an impressively varied skill set on the job. Most notably, skills in Project Management, Senior Financial Management, Forecasting, and Data Analysis are correlated to pay that is above average, with boosts between 4 percent and 7 percent. Those educated in Financial Analysis tend to be well versed in Financial Modeling and Budget Management. Those proficient in Financial Reporting are, more often than not, also skilled in Budget Management and Financial Modeling.
Pay by Experience Level for Senior Finance Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For Senior Finance Managers, experience does not seem to be a major factor in determining pay. Salaries for the relatively untried average out to around $102K, but survey participants with five to 10 years of experience earn a significantly higher median of $122K. Senior Finance Managers see a median salary of $132K after reaching one to two decades on the job. Individuals who report more than two decades of experience seem to make only slightly more than folks in the 10-to-20 year range; the more senior group sees median earnings in the comparatively modest ballpark of $137K.
Pay Difference by Location
For those looking to make money, Senior Finance Managers in San Jose enjoy an exceptional pay rate, 26 percent above the national average. Senior Finance Managers can also look forward to large paychecks in cities like San Francisco (+19 percent), Boston (+5 percent), San Diego (+4 percent), and Dallas (+4 percent). Place of residence plays a huge part in a Senior Finance Manager's salary, with Washington Senior Finance Managers earning salaries that are 24 percent less than the national average. Not at the bottom but still paying below the median are employers in Minneapolis and Cincinnati (17 percent less).
Related Job Salaries
Key Stats for Senior Finance Manager
Rated 5 out of 5
based on 83 votes.