Slightly less than two-thirds of Treasurers in the United States are seasoned employees who have more than 10 years of experience in the field. Pay ranges from $31K to $215K per year, and the average comes out to $89K annually. The range in cash compensation to Treasurers ($31K to $215K) includes potential earnings of $76K each from bonuses and profit sharing in exceptional cases. Geography is the biggest factor affecting pay for this group, followed by career length. For the most part, Treasurers enjoy their work and report high levels of job satisfaction. Health benefits are not claimed by all — close to one-fifth lack any form of coverage — but a strong majority have medical insurance, and the greater part have dental, too. Women Treasurers who took the survey just slightly outnumber men. Respondents to the PayScale salary survey provided the data for this report.
Job Description for Treasurer
Treasurers manage daily cash flow for their organization and help improve banking services. They are also responsible for creating and presenting departmental strategy to management, as well as create reports and data analysis for use of the management team. Other tasks performed by treasurers include directing, managing, disciplining, and evaluating staff under their supervision. These professionals also serve as advisers to the management team. As well as helping control the company's debt and investments, the treasurer should be creative in finding new ways of improving payment strategies, creating efficiencies, and streamlining processes with in the company. Treasurers generally work full time during regular business hours.Read More...
The minimum educational requirement for treasurers generally includes a bachelor's degree in financing, accounting, or business. Previous experience in a similar position, generally at least 10 years with at least five years in management. Industry certifications may also be required or preferred. Treasurers must have leadership qualities, be able to handle employee conflicts, be able to counsel employees, and know how to build and maintain business relationships with all merchants, managers, and executives. These professionals must work well on their own, as well as in a team environment.
- Invest excess cash in a manner which receives the highest returns with acceptable levels of risk.
- Provide regular analysis, forecasts, and reports on the organization's financial condition.
- Maintain accurate records of an organization's accounts and investments, and determine cash liquidity needs.
- Manage the payroll, accounting for salaries, benefits, and taxes.
- Review and approve plans for taking on debt, and handle procedures for taking out loans or selling bonds.
Common Career Paths for Treasurer
Though some Treasurers move into positions like Chief Financial Officer (where the average salary is $123K), this progression is not the norm. The most common promotion for Treasurers is Top Corporate Treasurer, a position that typically pays $101K annually. Another standard transition for Treasurers seeking advancement is to assume an Administrative Assistant role, where pay is often $31K.
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Popular Skills for Treasurer
Treasurers report using a pretty varied skill set on the job. Most notably, facility with Risk Management / Risk Control, Banking, and Investment Management are correlated to pay that is significantly above average, leading to increases of 206 percent, 149 percent, and 41 percent, respectively. Budget Management and Financial Reporting, on the other hand, are typically associated with much lower pay. Those familiar with Financial Reporting tend to be well versed in Budget Management and Cash Flow Management. It is often found that people who know Financial Analysis are also skilled in Cash Flow Management and Budget Management.
Pay by Experience Level for Treasurer
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Salaries for inexperienced workers average out to $64K, and those with five to 10 years' experience earn a higher median of $46K. Six-figure salaries surface after one to two decades on the job — experienced professionals in this group reap a six-figure median of $116K. Treasurers who have racked up more than two decades of experience report lower incomes overall; the average sum for this crowd comes out to only $99K.
Pay Difference by Location
For those looking to make money, Treasurers in Stamford enjoy an exceptional pay rate, 203 percent above the national average. Treasurers can also look forward to large paychecks in cities like Houston (+188 percent), New York (+160 percent), Dallas (+134 percent), and Pittsburgh (+125 percent). Denver ranks last in the field for pay, reporting salaries 1 percent below the national average.
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Key Stats for Treasurer
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