Average Salary Of District Finance Manager

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Do you want to become a financial manager? Read this guide to learn about salary expectations for financial managers, along with expected demand and top job locations.

Average Salary Of District Finance Manager

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Financial managers oversee the financial health of a company. They analyze data, create strategies to maximize profits, and act as advisors to an organization’s top managers.

The median annual salary for a financial manager exceeds $100,000, according to the US Bureau of Labor Statistics (BLS). The BLS also projects job growth of 17% between 2020 and 2030.

This guide takes an in-depth look at the compensation and job prospects of financial managers. It also covers the most important factors that affect income and employment, such as location, industry, education, and career experience.

The top 10% of financial managers earned more than $208,000 in 2020, while the bottom 10% earned less than $70,830.

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According to the BLS, the median annual salary for financial managers was $134,180 in 2020, which works out to $64.51 per hour. The top 10% of financial managers earned more than $208,000 in 2020, while the bottom 10% earned less than $70,830.

This is a fast-growing career with ample opportunity for high pay, making this role attractive to students and related fields. Although there is great potential for an above-average salary, a financial manager’s salary depends on factors such as academic qualifications and experience.

Financial managers must have at least a bachelor’s degree. Aside from finance, other potential undergraduate majors include economics, management, and business.

Note: The salary data in the table below does not represent just financial managers, but professionals in all industries who have a finance degree.

Financial Manager Salary

Future financial managers can pursue master’s degrees and graduate certifications for higher salary and job growth. However, any degree or diploma requires a significant investment of time and money. Students taking financial management should consider it carefully before committing to higher education.

As with most careers, salaries for financial managers increase with experience. Professionals with less than five years of experience earn less than those with two to three decades in the field. With more time on paper, financial managers gain skills that could lead to career advancement and salary increases.

Finance managers with five or more years of experience can expect the highest salary jumps. Peak growth and salary advancement often occurs during the first 10-15 years of a financial management career.

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While education and experience are important factors in determining salary, the location of the job also plays a role. For example, financial managers in New York earn the highest salary, around $215,640, but there are only 45,390 financial managers employed in the state.

By comparison, financial managers earn a salary of $162,650 in California, but the state has a much higher employment rate at $92,670. Factors that contribute to wage differentials include the cost of living, population density, and the local labor market.

The best job prospects for financial managers are positions with prosperous economies. The BLS forecasts 17% growth in financial manager jobs between 2020 and 2030, which is above average. Those graduating with a finance degree (or related subject) should find financial managers in high demand over the next decade, especially in metropolitan areas.

Financial managers can find job opportunities throughout the country, but the chances are greater in urban areas than in rural regions. Since financial management involves business and monetary transactions, the booming financial sectors of big cities make up a large part of the labor market.

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According to BLS data, New York, New Jersey and Washington DC. have the highest paying financial manager jobs. Connecticut, Massachusetts and Illinois are some of the states with the highest concentration of jobs. The salary of a CFO varies based on location, industry and the specific field of work.

Financial managers will find work in any industry where finance, data analysis and transactions play a key role. The BLS notes that the banking sector has the highest concentration of financial managers, with more than 98,570 professionals. This includes fields such as loans, brokerage and mortgage.

Business management ranks second with 74,260 financial managers. Financial investing and securities is the highest-paying sector for financial managers, with a median salary of $206,050.

The day-to-day activities and salary of a financial officer vary. Some industries involve cash flow management, investment direction, and credit reporting. Other industries may have duties such as providing financial advice, planning benefits, and keeping abreast of current and future industry trends.

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According to BLS data from May 2020, a financial manager can earn up to $208,000 or up to $70,830 annually. In some states, a financial manager can earn close to $250,000 per year on average.

The BLS notes that financial managers earned a median salary of $134,180 in 2020. This figure can change based on career stage, location, industry, and education level.

Financial management graduates can find several potentially rewarding roles in various industries. Some of the highest paying jobs in financial management include financial managers, economists, and financial analysts.

New York, New Jersey, and DC currently offer the highest-paying financial manager jobs in the US The median annual salary for a financial manager in New York was $215,640 as of May 2020.

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The finance and insurance sector was the top employer of financial managers in 2020, followed by professional, scientific and technical services and business management. These industries hold potentially rewarding employment for financial managers and bright prospects and career advancement opportunities.

Let us know what type of degree you’re looking for and we’ll find a list of the best programs to get to. Kathleen Swed has an MFA with a concentration in fiction from Pacific University, as well as bachelor’s degrees in music from the University of Maine and Ithaca College. She is the author of several science fiction series, which she writes under the name Ka…

Are you interested in a career as a financial controller? Read this guide to find financial controller salary expectations, job prospects, and top locations.

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According to PayScale, financial controllers earned a median annual salary of $85,710 as of September 2021. The Bureau of Labor Statistics (BLS) lumps financial controllers together with other types of financial managers. The BLS projects that employment in the field of financial management will grow by 17% between 2020 and 2030.

Financial controllers and auditors play similar roles but the jobs also have key differences. For example, interveners often work in government organizations.

The following sections discuss how experience and education can affect the salaries of financial controllers. Aspiring financial controllers should consider how location and industry can also affect earning potential

The BLS groups financial managers, including financial controllers, with management jobs. The BLS ranks management occupations as the highest-earning occupational group. These professionals earn a median annual salary of $109,760.

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According to PayScale, financial controllers can move into higher-level executive roles, such as chief financial officer. The site reports that CFOs earned a median annual salary of $137,110 as of September 2021.

Financial controllers who pursue higher education can increase their income. According to PayScale, financial controllers with a bachelor’s degree in finance earned a median annual salary of $85,260 as of September 2021. This aligns with the global median salary for the profession. With an MBA and finance, salaries for financial controllers increased to an average of $93,520 as of September 2021.

Obtaining an MBA takes time and money. This investment may lead to a salary increase or promotion. Trainees also gain valuable knowledge. They can connect with peers and alumni for job opportunities and career support.

With an MBA and finance, salaries for financial controllers increased to an average of $93,520 as of September 2021.

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Many financial and MBA programs operate in online or hybrid structures. Often students continue to work while in class, earning money and experience.

Experience plays an important role in the financial controller’s salary potential. The longer financial controllers work in the field, the more they tend to earn.

As of September 2021, the junior financial controller salary averaged $65,200 annually, according to PayScale. Starting career professionals saw a slight jump in pay. With five or more years of experience, the average rose to $84,910.

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Salaries for financial managers, including financial controllers, vary by location. Sites with a high demand for financial managers tend to pay