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Financial managers typically have a bachelor’s degree and 5 years or more of experience in another business or financial occupation, such as an accountant, securities sales agent, or financial analyst.Education
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.Licenses, Certifications, and Registrations
Professional certification is not required, but some financial managers still get it to demonstrate a level of competence. The CFA Institute confers the Chartered Financial Analyst (CFA) certification to investment professionals who have at least a bachelor’s degree, 4 years of work experience, and pass three exams. The Association for Financial Professionals confers the Certified Treasury Professional credential to those who pass an exam and have a minimum of 2 years of relevant experience.Work Experience in a Related Occupation
Financial managers usually have experience in another business or financial occupation. For example, they may have worked as a loan officer, accountant, securities sales agent, or financial analyst.
In some cases, companies provide formal management training programs to help prepare highly motivated and skilled financial workers to become financial managers.Important Qualities
Analytical skills. Financial managers increasingly are assisting executives in making decisions that affect their organization, a task which requires analytical ability.
Communication skills. Excellent communication skills are essential because financial managers must explain and justify complex financial transactions.
Detail oriented. In preparing and analyzing reports such as balance sheets and income statements, financial managers must be precise and attentive to their work in order to avoid errors.
Math skills. Financial managers must be skilled in math, including algebra. An understanding of international finance and complex financial documents also is important.
Organizational skills. Financial managers deal with a range of information and documents and so they must stay organized to do their jobs effectively.
|Job Title||Company||Location||Start Date||Salary|
|Vice Chair, Finance and Administration||Yale University||New Haven, CT||Dec 16, 2013||$215,000|
|Vice Chair, Finance and Administration||Yale University||New Haven, CT||Dec 01, 2013||$215,000|
|Director of Finance and Administration||ECKA Granules of America||Orangeburg, SC||Nov 13, 2009||$181,220|
|Vice President Finance and Administration||Lindsayca USA, Inc.||Houston, TX||Sep 20, 2013||$175,000 -
|Director of Finance and Administration||University of Colorado||Aurora, CO||Sep 01, 2015||$168,000|
|Global OTC Process Leader/Global Finance & Admin||Arvato Digital Services LLC||Los Gatos, CA||Sep 03, 2015||$165,000|
|Global OTC Process Leader/Global Finance & Admin.||Arvato Digital Services LLC||Los Gatos, CA||Sep 03, 2015||$165,000|
|VP, Finance and Administration||Iba Molecular North America, Inc.||Dulles Town Center, VA||Dec 01, 2011||$153,608 -
|Vice President, Finance and Administration||Exosome Diagnostics, Inc.||New York, NY||Oct 01, 2010||$150,000|
|Director of Finance and Admin., Vaccine Access & Delivery||Path||Seattle, WA||Feb 25, 2016||$147,514 -
|VP Finance, Administration||Iba Proton Therapy Inc.||Leesburg, VA||Mar 01, 2013||$145,787 -
|Director of Finance and Administration||Cognitive Scale||Austin, TX||Mar 02, 2016||$125,000|
|C&TM Finance & Admin USA & Latin America Duty Free||JTI Duty-Free USA, Inc.||Miami, FL||Aug 23, 2014||$89,424|
|Director of Finance and Administration||Vick Companies, Inc.||Williamsburg, VA||Aug 25, 2016||$85,000|
|Director of Finance and Administration||Howard University||Washington, DC||Feb 19, 2015||$85,000|
|Financial Administrator||The Vanguard Group||Malvern, PA||Aug 01, 2013||$83,862|
|Bilingual Financial Administrator & Planner||PCS Station, Inc.||Monterey Park, CA||Sep 17, 2015||$83,814|
|AIS Financial Reporting Administrator||State Street Bank and Trust Company||Princeton, NJ||Apr 29, 2015||$81,619 -
|Vice President Finance and Administration||The Union, North America||New York, NY||May 15, 2013||$80,330|
|Finance Administrator||The Nature Conservancy||Arlington, VA||Sep 18, 2011||$59,904|
|Management Analyst, Finance & Administration||Fashion Business Corp.||New York, NY||Aug 16, 2011||$58,600|
|Financial Administrator||California Unviersity of Management and Sciences||Arlington, VA||Nov 18, 2015||$57,762|
|Financial Administrator||Renren Game USA, Inc.||CA||Sep 07, 2013||$55,556|
|Financial Aid Administrator||Columbia College||Fairfax, VA||Apr 02, 2015||$55,472|
|Financial Aid Administrator||Columbia College||Fairfax, VA||May 01, 2015||$55,472|
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A Day in the Life - Financial Manager