dcsimg

Financial Manager

Financial managers supervise the drafting of financial records, the implementation of cash management strategies, and the investment of financial resources that are performed by an organization's financial workers. They develop a company's long-term strategies and goals. Their duties are dictated by their specific job title. Controllers draft financial summary and forecasting reports; treasurers and finance officers oversee goals, objectives, and budgets, as well as manage investments, mergers, and acquisitions; credit managers direct a company's credit issuance; cash managers make decisions regarding the flow of cash receipts and disbursements; and risk and insurance managers attempt to minimize financial losses and risks to the company.

Job Skills

Many skills are required for financial management positions. A broad knowledge of business management is essential, along with highly-developed communication skills, as they are constantly required to translate complex financial information into accessible terms. Because of the large number of hours spent managing other people, interpersonal skills are a prerequisite. Financial managers must be literate in the latest computer technology. They must possess knowledge of international finance, be creative and able to problem-solve, and often be fluent in a foreign language.

Income

In 2002, sales managers earned a median annual salary of $73,340. Earnings ranged from the lowest 10 percent, who earned less than $39,120, and the highest 10 percent, who earned more than $142,260. The following shows the median annual salaries for the industries employing the highest numbers of financial managers:

  • Securities and commodity contracts brokerage - $101,690
  • Management of companies and enterprises - 88,310
  • Nondepository credit intermediation - 78,400
  • Local government - 63,090
  • Depository credit intermediation - 58,790

Training and Education

The minimum educational requirement for employment as a financial manager is a bachelor's degree in accounting, economics, finance, or business administration. Many employers have begun requiring candidates to hold a master's degree in business administration, economics, finance, or risk management. However, experience may play a larger role than education in for positions such as branch managers in banks. Because of the fluid nature of financial laws and regulations, financial managers must frequently update their skills and knowledge by enrolling in continuing education. Graduate courses at universities, training programs sponsored by financial institutions, and professional certification programs are all options for continued training.

Employment

In 2002, financial managers held about 599,000 jobs. A majority were employed in the private sector, while about 10% worked for the different branches of government. 25% were employed by insurance and finance establishments.

Job Outlook

Between 2002 and 2012, the number of financial managers is expected to increase about as fast as the average. The expansion of existing companies and the creation of new firms will fuel the increase in jobs. Although the banking industry is moving steadily toward consolidation, employment of bank branch managers will continue to increase due to the increased range of products offered by banks. Demand will be high in the securities and commodities industry, as well as for risk managers in general.

For information on becoming a financial manager, please check out the following resources:

MBA Programs
Accounting Degrees

Financial Manager Training

Refine School Matches
Hide filters
  • SUBJECT Clear All

  • DEGREE

    See More

  • PROGRAM TYPE

  • START TIME

    LOCATION
    Please enter valid US or Canada Zip.
            Results open in new window

            Searching Searching ...

            Matching School Ads
            Business Administration - Finance (BS) (Online)
            • Designated as a 2015 Military Friendly® School by Victory Media, publishers of G.I. Jobs®.
            • Each program is designed to instill the knowledge, ethical values, and interpersonal skills of professional practice and to foster values of social responsibility.
            • Offers several flexible learning options, including a blended format that combines campus and online learning.
            • Several scholarship opportunities are available for students who qualify.
            • Features a competency-based MBA program that allows students to test out of subjects based on prior professional experience.
            Show more [+]
            • Online Courses
            • Flexible Scheduling
            • Financial Aid
            • Transferable Credits
            MS in Finance - H

            Johns Hopkins University Carey Business School has brought the philosophy of business with humanity in mind to a part time format. Now offering several degrees to the part-time student, students can now become business leaders at this nationally recognized institution in as little as 2.5 years.

            • Online Courses
            MHA: Finance

            100% Online & No Standardized Testing

            We are committed to helping you achieve your goals and complete your degree as quickly as possible.

            Show more [+]
            • Accredited
            • Online Courses
            • Financial Aid
            • Transferable Credits
            Certificate: Finance
            • Ranked among the Best Online Bachelor’s Programs by U.S. News and World Report in 2015.
            • Founded in 1890, it has a campus in Waterbury, CT and offers online degree program in eight-week modules, six times a year.
            • About 800 students are enrolled at the main campus, and about half of them commute.
            • Online courses help make it possible for students to earn a bachelor’s degree in as little as 24 months and a master’s degree in 12-18 months.
            Show more [+]
            • Online Courses
            • Flexible Scheduling
            • Accelerated Programs
            • Financial Aid
            • Transferable Credits
            Financial Management - PhD in Bus. Admin.
            • Ranked among the Best Online Bachelor's Programs in 2014 by U.S. News & World Report.
            • Implements a one-to-one teaching model, partnering one student with one faculty member in each course.
            • 100% of faculty members hold doctoral degrees.
            • No physical residency requirements, allowing students to pursue their degree online.
            • Committed to innovation, diversity, excellence, and accountability since its founding in 1996.
            • Offers several programs in business, education, psychology, and more.
            Show more [+]
            • Online Courses
            • Financial Aid
            • Transferable Credits
            Master of Business Administration - Finance
            • Its Fast Track program enables qualified students to save up to 30% on tuition and graduate up to 30% faster.
            • Its online MBA program was named by the International Graduate Forum as a top 10 Online MBA Program in 2012.
            • Listed as a military friendly school by G.I. Jobs magazine in 2014.
            • Lets students watch, view, read, or hear content through its program, My Unique Student Experience (M.U.S.E.).
            • Has additional campus locations near military bases in Colorado Springs and Denver.
            Show more [+]
            • Online Courses
            • Flexible Scheduling
            • Accelerated Programs
            • Financial Aid
            • Transferable Credits
            MBA - Finance/Accounting

            What They’re Known For

            Founded in 1946 and located in the heart of central New York, Utica College is a regionally accredited, independent, private institution that features many of the advantages of a large university — such as undergraduate and graduate degree options, excellent academics, and outstanding faculty — with the intimacy and high degree of personal attention more closely associated with smaller private institutions.


            • Online Courses
            Business Management
            Platt College , Alhambra
            • A Los Angeles-based private college offering programs in medical sciences, legal studies, and graphic design since 1985.
            • Has weekend programs, including certified  veterinary technology, nurse assistant, and hemodialysis technician.
            • Showcases visual communication students’ artwork and design through campus magazine.
            • 3 campuses in Southern California.
            • Accredited by the Accrediting Commission of Career Schools and Colleges (ACCSC).
            Show more [+]
            • Accredited
            • Flexible Scheduling
            • Accelerated Programs
            • Financial Aid
            • Transferable Credits
            Business Office Administration (10-Month Diploma Program)
            UEI College , San Marcos
            • Dedicated to providing  career training since 1975.
            • Has 13 campus locations in Southern California and a campus in Morrow, GA.
            • Provides flexible class times including weekends.
            • Offers curriculum that ranges from 8 month diploma programs to 16-month Associate of Applied Science degree programs.
            • Has admissions professionals available to help students decide which diploma or degree program they should pursue.
            • Gives job placement assistance strengthened by relationships with local employers.
            Show more [+]
            • Accredited
            • Flexible Scheduling
            • Financial Aid
            Innovation & Entrepreneurship, Master of Science (Online)
            • Push Your Creativity To The Next Level.
            • Full Sail’s curriculum combines elements of creativity, art, business and life skills, technical prowess, and academic achievement.
            • Full Sail offers accelerated programs, so a degree that would normally take four years takes 24 months on average.
            • Students work with industry-standard tools and technologies, allowing them to gain practical knowledge and real-world experience.
            • Join us on Facebook, Twitter, YouTube and Instagram to interact with our community, read about grad success, and see campus images.
            Show more [+]
            • Online Courses