Information Provided by the Bureau of Labor Statistics Occupational Outlook Handbook
About 3 out of 10 financial managers work in finance and insurance industries. A bachelors degree in finance, accounting, or a related field is the minimum academic preparation, but many employers increasingly seek graduates with a masters degree in business administration, economics, finance, or risk management. Experience may be more important than formal education for some financial manager positionsmost notably, branch managers in banks. Jobseekers are likely to face competition.
On average, Financial Managers earn $ 90,970 per year.
Job Opportunities for Financial Managers are expected to:
Increase as fast as the average.
Almost every firm, government agency, and other type of organization has one or more financial managers. Financial managers oversee the preparation of financial reports, direct investment activities, and implement cash management strategies. Managers also develop strategies and implement the long-term goals of their organization.
A bachelors degree in finance, accounting, economics, or business administration is the minimum academic preparation for financial managers. However, many employers now seek graduates with a masters degree, preferably in business administration, economics, finance, or risk management. These academic programs develop analytical skills and teach the latest financial analysis methods and technology.
Financial managers held about 506,000 jobs in 2006. Although they can be found in every industry, approximately 3 out of 10 were employed by finance and insurance establishments, such as banks, savings institutions, finance companies, credit unions, insurance carriers, and securities dealers. About 8 percent worked for Federal, State, or local government.
