Financial Manager Career Profile

Many people choose to pursue a financial manager career because of the prestige that is associated with the industry. It can be a very rewarding job with many benefits. Here are the basics of being a financial manager.

Becoming a Financial Manager

Most financial managers are required to obtain a bachelor's degree in a related field. You could get a degree and finance, business, accounting, or even economics and qualify for a job. Although it is not required, getting a Masters degree can also help your job search. Some positions will require that you receive your CFA or CMA certification. This will involve taking the appropriate exam to become certified. Many positions will also require that you have some level of experience in the financial industry as well.

Basic Tasks

Financial managers will perform a variety of different tasks as part of their job. Many different types of companies hire financial managers and therefore, the nature of the work can be very different from one company to another. Many financial institutions utilize financial managers to help them meet company specific goals. Financial managers might be in charge of developing a plan of action for the company. Financial managers can also be in charge of hiring employees, managing employees, and overseeing the day-to-day operations of a financial business. Many financial managers also spend a great deal of time analyzing numbers in order to help help the company maximize profits.

Work Schedule

Most financial managers will work throughout the week during the daytime. There is not much work on the weekends, however, financial managers often have to be flexible with their schedules. Many financial managers will work between 50 and 60 hours per week in order to meet their job requirements. Therefore, it can be a very time-consuming and hectic job at times. 

Salary

Most financial managers will make a strong salary when compared to many other types of careers. The average financial manager will make about $100,000. On the upper end, some financial managers make as much as $150,000.

Opportunities for Advancement

As a financial manager, you will be able to take advantage of many opportunities for advancement. Although you are already a manager, there will typically be more opportunities present themselves. You will be working directly with many of the top people in your company. For example, if you work at a large bank, many of the top people in the bank will rely on you for information and strategic planning. Therefore, when an opportunity opens up for an executive position in the company, many times, a financial manager will fill that role. This job will give you ample opportunity to network with powerful people in the financial industry, which can increase opportunities for advancement.

Types of Jobs

A financial manager can find work in many different types of companies. You might work with a bank, for an insurance company, or even for the government. Many other private businesses will also employ financial managers as part of their management team.