It Finance Manager Salary

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Do you want to become a financial manager? Read this guide on CFO salary expectations, expected demand, and top jobs.

It Finance Manager Salary

It Finance Manager Salary

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Financial managers supervise the financial condition of companies. They analyze data, develop strategies to maximize profits, and act as advisors to the organization’s senior management.

According to the U.S. Bureau of Labor Statistics (BLS), the median annual salary for a financial manager is more than $100,000. BLS also predicts that in 2020-2030 the number of jobs will increase by 17%.

This guide provides an in-depth look at the salaries and job prospects of CFOs. It also includes the most important factors that affect earnings and employment, such as location, industry, education and experience in the career.

Top 10% of CFOs in 2020 earned more than $208,000, and the lowest 10% earned less than $70,830.

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

This is a fast-growing career with high salary potential, making this role attractive to students and related fields. Although there is a good chance of earning an above-average salary, the salary of a finance manager depends on factors such as educational qualifications and experience.

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

It Finance Manager Salary

Note: The salary data in the table below is not only for finance managers, but also for professionals in all industries who earn a degree in finance.

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Future CFOs can pursue master’s degrees and graduate certificates for higher salaries and job growth. However, any degree or diploma requires a significant investment of time and money. Financial management students should think twice before transferring to graduate schools.

As with most careers, CFO salaries increase with experience. Professionals with less than five years of experience earn less than those who have been in the field for two or three decades. With more time on the job, CFOs acquire skills that can lead to career advancement and salary increases.

Financial managers with five or more years of experience can expect the biggest jump in salaries. Maximum growth and salary increases 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, location also plays a role. For example, CFOs in New York earn the highest salary at about $215,640, but the state has only 45,390 CFOs.

By comparison, CFOs in California earn a salary of $162,650, but the state’s employment rate is much higher at 92,670. Factors that determine pay differences include cost of living, population density, and the local job market.

The best job prospects for CFOs are in booming economies. BLS predicts that in 2020-2030 CFO jobs will increase by 17%, which is above average. Those graduating with a degree in finance (or a related subject) should find finance managers in high demand over the next decade, especially in big cities.

It Finance Manager Salary

Finance managers can find job opportunities across the country, but opportunities are more prevalent in urban areas than in rural areas. Because financial management involves business and monetary operations, the growing financial sectors in major cities account for a large portion of the job market.

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According to the BLS, New York, New Jersey and Washington have the highest paying financial management jobs. Connecticut, Massachusetts and Illinois are among the states with the highest concentration of jobs. CFO salaries vary by location, industry, and specific job field.

CFOs find employment in any industry where finance, data analysis, and transactions play an important role. The BLS notes that the banking sector has the largest concentration of financial managers, employing more than 98,570 professionals. This includes areas such as lending, brokerage and mortgages.

In second place is business management, with 74,260 financial managers. Financial Investments and Securities is the highest paying industry for financial managers, with an average salary of $206,050.

The day-to-day activities and salaries of CFOs vary. Some industries include cash flow management, investment guidance, and credit reporting. Other areas may include tasks such as financial advice, profit planning, and monitoring current and future industry trends.

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Based on the 2020 May. According to the BLS, a finance manager can earn as little as $208,000, or $70,830 per year. In some states, a finance manager can earn an average of $250,000 per year.

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

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

It Finance Manager Salary

New York, New Jersey and Columbia currently offer the highest paying finance executive jobs in the United States. in 2020 May. the average annual salary for a CFO in New York was $215,640.

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Finance and insurance sector in 2020 was the largest employer of financial managers, with professional, scientific and technical services and business management in third. These industries have potentially rewarding jobs for finance managers and bright prospects and career opportunities.

Let us know what type of degree you’re looking for and we’ll find a list of the best programs to help you get there. A person working as a finance manager in Bosnia and Herzegovina usually earns around 4,800 BAM per month. Salary ranges from BAM 2,210 (lowest) to BAM 7,630 (highest).

This is the average monthly salary, including housing, transport and other allowances. CFO salaries vary widely based on experience, skills, gender or location. Below you will find a detailed breakdown based on several different criteria.

Both are indicators. If your salary is above both the mean and the median, you are doing very well. If your salary is lower than both, many people are making more than you and there is plenty of room for advancement. If your salary is somewhere between the mean and the median, things can get a little tricky. We’ve written a guide to explain everything about the different scenarios. How to compare your salary

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Experience level is the most important factor in determining salary. Of course, the more years of experience, the higher your salary. We broke down CFO salaries by experience level and here’s what we found.

A person with two to five years of experience is expected to earn BAM 3,350 per month, which is 34% more than someone with less than two years of experience.

It Finance Manager Salary

Looking ahead, a five-to-ten-year experience level earns BAM 4,950 per month, which is 48% more than someone with two to five years of experience.

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“On average, a person’s salary doubles their starting salary when they reach the 10-year* experience mark.”

In addition, a financial manager(s) with ten to fifteen years of experience earns a salary equivalent to BAM 6,030 per month, which is 22% higher than someone with five to ten years of experience.

If the experience level is between fifteen and twenty years, the expected salary is 6,570 BAM per month, 9% higher than someone with ten or fifteen years of experience.

Finally, employees with more than twenty years of professional experience receive a salary of BAM 7,120 per month, 8% more than those with fifteen to twenty years of experience.

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CFO Salary Comparison by Education How does education level affect salary? Below is the average salary gap between different CFOs with similar experience but different education levels.

We all know that a higher education equals a higher salary, but how much money can a degree add to your income? For comparison, we’ve broken down CFO salaries by education level.

It Finance Manager Salary

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