Finance Manager Salary Arizona
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Executive salaries vary based on factors such as education, experience and location. Chart your career path by exploring relevant trends and data.
Finance Manager Salary Arizona
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As mentioned in this editorial from the University of Scranton, professional accountants are well positioned to take advantage of the increasing demand in the job market. This is good for managers – especially those adept with technology-based teams and process management tools.
Professionals often earn wages above the median wages in the general labor market. Those working at the management level can earn even more.
This guide explores the various factors influencing executive pay trends. Use it to inform your career planning and salary research.
Pay scale data show that managers earn more on average than professionals in non-managerial positions. Certified Public Accountant (CPA) salary scale data for August 2022 lists an average CPA salary of approximately $70,990 per year.
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The 7.6% difference between these average wage levels increases over time. Continuing education partly accounts for that increase; many managers have master’s degrees or professional degrees such as an MBA.
Many common credentials require applicants to have only a bachelor’s degree. This applies to CPAs, Certified Management Accountants (CMAs) and other specializations. However, many employers prefer people with a master’s degree when filling vacancies at the management level.
To that end, a master’s degree or a concentrated MBA can increase your chances of landing a management position. The following chart summarizes the overall impact of education on an accountant’s earning potential:
Although the data shows that advanced degrees have little impact on overall earnings, they can improve your access to managerial jobs. Note that these figures represent base salaries only. Executive-level professionals may qualify for additional forms of compensation, including profit sharing and bonuses.
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Consider the added value that professional certifications offer. For example, Payscale reports average CMA salaries of $97,000 per year as of August 2022.
Higher levels of experience often lead to better job performance, especially in managerial roles. Leadership positions require both technical and team-oriented skills that often take time to develop.
Salary data shows that executive pay tends to see big jumps between early and mid-career. This suggests that employers value a proven track record of good performance. It also shows that companies are willing to pay more to get experienced candidates.
To the question “How much do managers earn?” what people may not realize is that the answer can vary greatly depending on the workplace. professionals tend to earn more in places with a higher cost of living. But these higher living costs can often be offset by salary increases.
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The dynamics of the labor market is another key factor. If demand for managers is high in a particular field or industry and there are few qualified candidates, salaries tend to rise. The opposite is true in the labor market, where many qualified people compete for a limited number of vacancies.
U.S. The Bureau of Labor Statistics (BLS) includes managers in its general category of “accountants and bookkeepers.” The information below is generalized to all accountants and is not specific to managers.
The BLS projects a stable outlook for professionals. Overall, nationwide demand for accountants and bookkeepers is projected to keep pace with growth trends for all professions.
Please note that the information below is general for accountants and auditors. It is not specific to managers. Actual demand for managers may be higher or lower, depending on location and other factors.
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For example, the Central Projection data summarized below show that some states expect much stronger job growth. Projections Central is a collaborative project between BLS, the U.S. Department of Labor (DOL) and DOL’s Employment and Training Administration.
Focusing your long-term career planning on areas that expect higher-than-average job growth can increase your overall prospects. Potential benefits may include stronger access to a larger base of available jobs, higher wages, or both.
Trends emerge when looking at current and projected job availability for professionals. First, jobs tend to cluster most heavily in states with:
This makes sense: most managers work for larger companies with significant internal teams. These companies tend to locate in larger urban centers with more commercial and investment activity.
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Second, many locations that currently employ large numbers of managers are expected to maintain their strengths into the 2020s. This suggests a stable outlook for professionals working in these cities and states.
Meanwhile, several U.S. destinations appear poised to emerge as upcoming job growth hotspots. That includes some states with smaller populations, led by Utah. It might be worth keeping that in mind when planning your career.
As for cities, the country’s largest metropolitan areas dominate in terms of affordability. Notably, each of the top five cities also pays median wages well above the national average of $76,360 reported by Payscale in August 2022.
Managers are in demand in many industries. This section describes the industries that pay the highest average wages. It also looks at which industries employ the most professionals.
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When considering industries, look at the dynamics that may affect your ability to land a job. Some industries pay managers very well but have fewer vacancies. This often indicates high competition for a relatively small number of available positions.
The BLS does not specifically track executive salary data or job numbers. Instead, it groups the profession into its broader category of “accountants and bookkeepers.” All BLS data mentioned in the tables below are generalized for all auditors and accountants.
It depends on how you define “best”. D.C., New York, and New Jersey have the best average annual CEO salaries in May 2021. In terms of number of jobs, California, New York, and Texas were the top three destinations.
Services, business management, local and state government, and the real estate industry rank as the top five employers for accountants as of May 2021. In terms of wages, the top industries are pipeline transportation, computer manufacturing, and information services.
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Many tasks are being automated. However, computer programs cannot manage teams. From this perspective, managerial careers are insulated from trends that may threaten certain lower-level roles.
Salary data from August 2022 lists an average salary of about $52,810 per year for all accountants. At the time, Paiscale reported that executives earned an average of about $76,360 a year.
Payscale tracks salary data associated with specific degrees and certifications. The comparison looks at the money earned by different degrees — bachelor’s or master’s degrees in Serbia, MBAs in Serbia, and CPA or CMA certifications. CMAs topped the list with an average annual salary of $97,000.
Tell us what type of degree you’re looking for and we’ll find a list of the best programs to get you there. This week in credit card news: A new type of fraud is emerging; Inflation causes reduced spring break
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According to the Bureau of Labor Statistics (BLS), 22, financial managers rank among the highest-paid occupations in the United States, based on the most recent salary data from 2018. In fact, when you exclude medical professions from the list, financial managers have the seventh highest average annual salary in country and earn an average of $146,830 per year.
There is more good news for CFOs. According to the BLS Occupational Outlook Handbook, employment of financial managers is projected to grow 19% — much faster than average — from 2016 to 2026.
However, not all states pay financial managers the same salary. So if you want to make the most money in this field, read on for a full breakdown of where CFOs earn the lowest and where their earnings are the highest.
Looking at salaries by state, CFOs earn more than the national average in only 12 states, as well as the District of Columbia:
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New York, New Jersey, and Connecticut are not surprising, given the quality and quantity of financial firms located in these states, centered in New York.
Geographically, the lowest paying states for CFOs are in the South – Mississippi, West Virginia, Arkansas, Louisiana and Tennessee; and states in the Mountain Division – Idaho, New Mexico. Montana and Utah. The only exception is Alaska, which is located in the Pacific Division of the United States.
Many of the states with the lowest pay for CFOs are also among the lowest in terms of median household income. According to the U.S. In the 2017 Census Bureau’s American Community Survey, Mississippi has the 49th lowest median household income in the nation, $42,009; 46 Arkansas has the second lowest household income, $43,813;