Finance Manager Salary Massachusetts
Finance Manager Salary Massachusetts – Kathleen Swede holds an MFA in Fiction from the University of the Pacific and a BA 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…
Interested in a career as a financial controller? Read this guide to financial controller salary expectations, job prospects, and finding the best positions.
Finance Manager Salary Massachusetts
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According to PayScale, financial controllers earned an average 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 expects financial management employment to grow 17 percent from 2020 to 2030.
Financial controllers and controllers perform similar roles, but the jobs also have key differences. For example, controllers generally work for government organizations.
The following sections discuss how experience and education can affect financial controller salaries. Aspiring financial controllers should consider how location and industry can affect earnings potential as well
The BLS groups financial managers, including financial controllers, into management occupations. The BLS ranks management occupations as the highest earning occupational group. These professionals earn an average annual salary of $109,760.
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According to PayScale, financial controllers can move into senior executive roles, such as chief financial officer. The site reports that CFOs earned an average 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 finance degree earned an average annual salary of $85,260 as of September 2021. This is in line with the overall median salary for the profession. With an MBA in e-Finance, financial controller salaries rose to an average of $93,520 in September 2021.
Pursuing an MBA takes time and money. This investment may lead to a salary increase or promotion. Students also gain valuable skills. They can network with colleagues and alumni for job opportunities and professional support.
With an MBA in e-Finance, financial controller salaries rose to an average of $93,520 in September 2021.
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Many finance, MBA and MBA programs operate in online or hybrid formats. Students often continue to work while attending classes, earning money and experience.
Experience plays a role in the salary potential of a financial controller. The longer a financial controller works in the field, the more income they earn.
As of September 2021, the salary for a junior financial controller averaged $65,200 per year, according to Payscale. Early career professionals have a small salary increase. With five or more years of experience, the average rises to $84,910.
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Salaries for financial managers, including financial controllers, vary by position. Places with high demand for financial managers often pay high salaries. With a strong international reputation for business, New York tops the list of highest-paying states for financial managers.
Metropolitan areas such as New York and New Jersey may offer higher salaries, but financial planners must also consider the higher cost of living in these areas.
Sometimes, places with an established business environment may offer higher salaries to attract qualified employees. For example, US News & World Report names Colorado one of the best states for the economy and jobs. Both the business environment and growth contribute to this ranking. As the chart below indicates, Colorado also ranks among the highest-paying states for financial managers.
Because the BLS ranks financial controllers with financial managers, the following data reflects salary potential for all financial managers.
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The BLS projects that hiring for all financial managers will increase 17% from 2020 to 2030.
This figure exceeds growth estimates for all occupations nationwide. The growth of the global economy means that domestic businesses are handling increasingly complex financial transactions. They need financial managers, including financial controllers, to oversee their budgets.
Projections Central reports that most US states and territories will see an increase in demand for financial managers from 2018 to 2028.
Job opportunities for financial controllers and other financial managers vary by location. However, the Projection Center reports that most US states and territories will see an increase in demand for financial managers from 2018 to 2028. Projection Central expects only a decrease in financial manager vacancies in Louisiana.
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The following sections explore detailed opportunities for financial controllers by industry and location. The charts include information about states that have the best prospects for financial managers.
When considering employment opportunities, readers should remember that the BLS groups financial managers with all types of financial controllers.
Companies across the country need financial managers, including financial controllers. While the largest number of jobs are concentrated in states with large metropolitan areas, such as California and New York, other areas also employ large numbers of financial controllers.
Projections Central predicts strong growth for financial manager jobs in top states from 2018 to 2028. Utah, Nevada and Colorado top the list of states where demand will increase 44.4%, 30.3% and 30% respectively, 1%. California, Texas and New York are expected to have the largest number of new job openings. However, emerging economies will add jobs at a faster rate than national projections.
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Urban areas employ more financial managers than rural areas. According to the BLS, the busiest metro area, New York-Newark-Jersey City, employs 56,680 financial managers. Kansas is the busiest non-metro area, with 1,040 financial managers.
Financial managers looking to work in more rural settings might consider Northeast Ohio, Southeast Iowa, or West Central Illinois.
Financial controllers work for organizations in a variety of industries. Your choice of industry can affect your financial controller salary, advancement opportunities, and job description.
Financial managers earn an average annual salary of $206,050 when working in securities, commodity contracts and other financial investment and related businesses. Other well-paying industries include information services and monetary authorities.
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Aspiring financial controllers must decide what type of work environment they prefer. Large companies can offer more room for growth. These companies require more executive-level managers to oversee complex budgets and more employees. Small businesses can provide valuable experience and a wide range of jobs, but often have little room for improvement.
Financial controller salaries vary based on education level, experience, location, and industry. The BLS reports that New York pays the highest salaries for financial managers, including financial controllers.
According to PayScale, a junior financial controller with less than a year of experience will earn an average salary of $65,200 as of September 2021. Those with 1-4 years of experience earn an average of $71,700.
Most financial managers and financial controllers work full-time. PayScale reports that financial controllers earn an average salary of $28 an hour.
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According to the BLS, the industries that most hire financial controllers include credit brokerage and corporate and business management. The highest paying industry is securities, commodity contracts and other financial investments and related businesses.
Let us know what kind of degree you are looking for and we will bring you a list of the best programs to get you. Average CFO salary $101,374 per year To create our salary estimates, start with data published in publicly available sources such as the US Bureau of Labor Statistics (BLS), the Foreign Worker Certification Data Center (FLC) and more show
Financial managers in the United States earn an average of $101,374 per year, or $48.74 per hour. Financial managers at the bottom end of that spectrum—the bottom 10% to be exact—earn about $71,000 a year while the top 10% earn $144,000. Position affects how much a financial manager can expect to earn. Financial managers benefit most from New York, New Jersey, Massachusetts, Connecticut and California.
While a finance manager may have an average salary of $101,374 per year or $48.74 per hour, there are many opportunities for finance managers to earn more. For example, in New York, New York you can earn $119,136 a year. Other top paying locations include San Francisco, CA, Jersey City, NJ and Boston, MA. If you’re in an entry-level position, your best bet is to move to New York, NY where the median starting salary is $81,000. The highest paying states for financial managers include New York, New Jersey and Massachusetts. Meanwhile, Florida, Louisiana and Nebraska offer the lowest wages.
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CFO salary can vary depending on a person’s years of experience, from entry level to senior level. An accountant with 0-2 years of experience earns an average salary of $69,700, a mid-career professional with 3-6 years of experience earns an average of $101,374 per year, and a senior accountant with 7-12 years of experience. Average annual salary $165,807. Information on how experience level affects overall pay is provided by the Bureau of Labor Statistics (BLS) as part of their National Compensation Survey, which is based on factors such as knowledge, sophistication, relationships, and environment. is
The highest paying companies for financial managers are Barclays and BNP Paribas according to our latest
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