Finance Manager Salary Utah

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Do you want to become a CFO? Read this guide to CFO salary expectations, as well as forecasted demand and top jobs.

Finance Manager Salary Utah

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CFOs oversee the financial health of businesses. They analyze data, create strategies to maximize profits, and act as advisors to an organization’s senior management.

The annual median salary for CFOs 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 provides an in-depth look at CFO salaries and job prospects. It also covers the most important factors that affect income and employment, such as location, industry, education and experience for this career.

The highest 10% of CFOs earned more than $208,000 in 2020, while the lowest 10% earned less than $70,830.

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According to the BLS, the annual median salary for CFOs was $134,180 in 2020, which equates to $64.51 an hour. The highest 10% of CFOs earned more than $208,000 in 2020, while the lowest 10% earned less than $70,830.

This is a fast-growing career with ample potential for high pay, making this role attractive to students in and related fields. Although there is great potential for above-average salaries, CFO salaries depend on factors such as academic qualifications and experience.

CFOs must have at least a bachelor’s degree. In addition to finance, other possible undergraduate majors include economics, management, and business.

Note: The salary figures in the table below represent not only CFOs, but also professionals in all industries who have a degree in finance.

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Aspiring CFOs can pursue graduate and post-graduate certificates for higher salaries and career growth. However, any degree or diploma requires a significant investment of time and money. Students majoring in financial management should consider this carefully before entering college.

As with most jobs, CFO salaries increase with experience. Professionals with less than five years of experience work less than those with two or three decades in the field. With more time in the role, CFOs gain skills that could lead to career advancement and salary increases.

CFOs with five or more years of experience can expect the highest salary increases. Peak growth and salary growth often occur in 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 an important role. For example, CFOs in New York earn the highest salary, about $215,640, but there are only 45,390 CFOs employed in the state.

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

The best job prospects for CFOs are places with a thriving economy. The BLS projects a 17% increase in CFO jobs between 2020 and 2030, which is higher than average. Those graduating with a degree in finance (or a related field) should find financial managers in high demand over the next decade, especially in the metropolitan area.

Financial managers can find job opportunities all over the country, but the chances are greater in urban areas than in rural areas. Because financial management involves business and monetary transactions, the growing financial sector in major cities is a large part of the labor market.

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According to BLS data, New York, New Jersey and Washington, D.C. with the highest paid CFO positions. Connecticut, Massachusetts and Illinois are some of the states with the highest concentration of jobs. CFO salaries vary by location, industry, and specific job field.

CFOs will find work in any industry where finance, data analytics and business play a key role. The BLS notes that the banking industry has the highest concentration of CFOs, with over 98,570 professionals employed. This includes areas such as lending, brokerage and mortgages.

Business administration comes next, with 74,260 CFOs. Investments and securities are the highest paid CFOs, with an average salary of $206,050.

The day-to-day duties and salaries of CFOs vary. Some industries include cash flow management, investment management, and preparing credit reports. Other branches may have duties such as providing financial advice, profit planning, and staying on top 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 per year. In some states, a CFO can earn nearly $250,000 per year on average.

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

Financial management graduates can find a number of potentially rewarding roles in a variety of industries. Some of the best paying jobs in financial management are CFOs, economists and financial analysts.

New York, New Jersey and D.C. currently offers the highest paying CFO positions in the US. The median annual salary for a CFO in New York City was $215,640 in May 2020.

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The finance and insurance industry was the top employer for CFOs in 2020, followed by professional, scientific and technical services and business management. These industries have potentially rewarding careers for CFOs and bright prospects and opportunities for professional development.

Let us know what kind of degree you’re looking for and we’ll find a list of the best programs to get you there. Average CFO Salary $101,374 Annually To create our salary estimates, we start with data published in publicly available sources such as the US Bureau of Labor Statistics (BLS), Foreign Labor Certification Data Center (FLC) Show more

Financial managers earn an average of $101,374 per year, or $48.74 per hour, in the United States. CFOs at the lower end of this spectrum, the bottom 10% to be exact, earn about $71,000 per year, while the top 10% earn $144,000. Location affects how much a CFO can expect to earn. CFOs earn the most in New York, New Jersey, Massachusetts, Connecticut and California.

The darker areas on the map show where CFOs earn the highest salaries in all 50 states.

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The highest paid companies for CFOs are Barclays and BNP Paribas according to our latest salary estimates. Additionally, companies such as Pacific Investment Management Company LLC and The Carlyle Group report very competitive salaries for CFOs.

Here are some examples of how high CFO salaries can be based on different industries: The financial industry pays CFOs an average salary of $118,926 The technology industry pays $115,985 The lowest paying industry for CFOs is the healthcare industry. CFOs in this industry earn an average salary of $97,583

CFO salaries can vary depending on the years of experience a person has, 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 earns an average annual salary of $165,807. Data on how experience level affects total compensation is provided by the Bureau of Labor Statistics (BLS) as part of the National Earnings Survey, which is based on factors such as knowledge, sophistication, contacts and environment.

New York City pays financial executives the highest in the U.S., with an average salary of $118,975 annually or $57.20 an hour.

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You will know if you are being paid fairly as a CFO if your salary is close to the average salary for the state in which you live. For example, if you live in New Jersey, you should be paid close to $108,398 per year.

The vice president of finance is the highest paid. A vice president of finance earned an average of $147,603. The highest paid 10 percent earn $183,000, while the lowest paid 10 percent earn $119,000.

A good starting salary for a CFO is $79,000 in the US. That puts you in the 10th percentile of annual earnings for US CFOs, which is about what you’d expect if you were new to the field. The average salary for a CFO is $118,129, but it usually takes experience to get there. Additionally, good starting salaries for CFOs can vary from state to state.

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