Treasurers in the United States tend to have a good amount of experience under their belt — slightly less than two-thirds have more than 10 years in the field. While pay runs from $31K to $208K per year, median earnings come to $86K annually. Overall cash earnings for Treasurers vary widely between $31K and $208K; for a few high rollers, the final number can encompass upwards of $75K each from bonuses and profit sharing proceeds. Location is the biggest factor affecting pay for this group, followed by career length. Women Treasurers who took the survey just slightly outnumber men. For the most part, Treasurers enjoy their work and report high levels of job satisfaction. Nearly one in five of professionals in this line of work do not receive benefits; however, a strong majority report medical coverage and the larger part claim dental coverage as well. The data in this summary comes from the PayScale salary survey.
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
It's not very common for Treasurers to move on to become Chief Financial Officers. Average pay for a Chief Financial Officer is $123K annually. Typical career progression for a Treasurer involves becoming a Top Corporate Treasurer or a Financial Controller, roles that pay $28K more and $5K more on average.
Treasurer Job Listings
Search for more jobs:
Popular Skills for Treasurer
Treasurers report using a wide range of professional skills. 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 203 percent, 161 percent, and 48 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Financial Reporting and Budget Management. The majority of those who know Financial Analysis also know Cash Flow Management and Budget Management. A tool kit that includes Financial Reporting also typically contains Budget Management and Cash Flow Management.
Pay by Experience Level for Treasurer
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Relatively untried employees who have less than five years' experience have a median salary of $47K. Those who have been around for five to 10 years can expect to take home more — $64K on average. Professionals who claim 10 to 20 years of experience can secure some pretty cushy paychecks; the median for this group is a six-figure $113K. For some reason, Treasurers with more than two decades of experience report lower paychecks overall; the median sum in this group sits near $93K.
Pay Difference by Location
For those looking to make money, Treasurers in Stamford enjoy an exceptional pay rate, 217 percent above the national average. Treasurers can also look forward to large paychecks in cities like New York (+176 percent), Houston (+154 percent), Dallas (+146 percent), and Pittsburgh (+136 percent).
Related Job Salaries
Key Stats for Treasurer
Rated 5 out of 5
based on 62 votes.