Related job titles are: Banking Center Manager (BCM), Service Center Manager, Collections Vice President, Consumer Lending Vice President, Consumer Loan Manager, Electronic Services Vice President, Lending Manager, Loan Servicing Vice President, or Loan Systems Director.
How Much Does a Financial Manager Make? | Financial Manager Salary
The median yearly salary for financial managers was $103,910 in 2010 (the most recent data available). This median salary is simply the salary where half the employees earned more and half earned a lesser amount. Employees in the lower 10 percent had an annual salary less than $56,120, and those employees in the top 10 percent earned greater then $166,400.
What Does a Financial Manager Do? | Job Description
Financial Manager is one of U.S. News and World Report "100 Best Jobs of 2013." Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization. The role of the financial manager, particularly in business, is changing in response to technological advances that have significantly reduced the amount of time it takes to produce financial reports. Financial managers’ main responsibility used to be monitoring a company’s finances, but they now do more data analysis and advise senior managers on ideas to maximize profits. They often work on teams, acting as business advisors to top executives.
Financial Adviser and Business Analyst, Finance/Banking are two of CNNMoney.com "100 Best Jobs in America."
How to Become a Financial Manager?
Financial managers must usually have a bachelor’s degree and more than 5 years of experience in another business or financial occupation, such as loan officer, accountant, auditor, securities sales agent, or financial analyst. Financial managers usually have experience in another business or financial occupation, such as loan officer, accountant or auditor, securities sales agent, or financial analyst.
Financial Manager Classes and Courses | Degree Programs
A bachelor's degree in finance, accounting, economics, or business administration is often the minimum education needed for financial managers. However, many employers now seek candidates with a master's degree, preferably in business administration, finance, or economics. These academic programs help students develop analytical skills and learn financial analysis methods and software. Professional certification is not required, but some financial managers still get it.
Financial Manager Jobs | Who is Hiring?
Services provided by financial managers, such as planning, directing, and coordinating investments, will continue to be in demand as the economy grows. The United States remains an international financial center, meaning that the economic growth of countries around the world will likely contribute to employment growth in the U.S. financial industry. Employment of self-employed financial managers is expected to grow at 20 percent from 2010 (the most recent data available) to 2020, faster than the average for all occupations. These employers include commercial banking and savings institutions, which employs the largest percent of these managers.
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