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How to hire a Finance Coordinator

Finance coordinator hiring summary. Here are some key points about hiring finance coordinators in the United States:

  • There are currently 41,094 finance coordinators in the US, as well as 106,187 job openings.
  • Finance coordinators are in the highest demand in New York, NY, with 38 current job openings.
  • The median cost to hire a finance coordinator is $1,633.
  • It takes between 36 and 42 days to fill the average role in the US.
  • Human Resources use 15% of their expenses on recruitment on average.
  • On average, it takes around 12 weeks for a new finance coordinator to become settled and show total productivity levels at work.

How to hire a finance coordinator, step by step

To hire a finance coordinator, you should create an ideal candidate profile, determine a budget, and post and promote your job. Here's a step-by-step guide on how to hire a finance coordinator:

Here's a step-by-step finance coordinator hiring guide:

  • Step 1: Identify your hiring needs
  • Step 2: Create an ideal candidate profile
  • Step 3: Make a budget
  • Step 4: Write a finance coordinator job description
  • Step 5: Post your job
  • Step 6: Interview candidates
  • Step 7: Send a job offer and onboard your new finance coordinator
  • Step 8: Go through the hiring process checklist

What does a Finance Coordinator do?

Finance coordinators are skilled professionals who are employed by all types of industries to manage their financial records accurately. Under the supervision of financial managers, they correlate the company's accounts receivables and payables. They should be able to keep records together with documentation effectively to ensure precision and punctuality of deliverables. Their responsibilities include ensuring accurate billing of customers, managing billing issues and disputes, and making required adjustments to clients' accounts. Candidates for the job must be organized, detail-oriented, able to multi-task as well as cautiously handle sensitive information.

Learn more about the specifics of what a finance coordinator does
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  1. Identify your hiring needs

    Before you start hiring a finance coordinator, identify what type of worker you actually need. Certain positions might call for a full-time employee, while others can be done by a part-time worker or contractor.

    Determine Employee vs Contractor Status
    Is the person you're thinking of hiring a US citizen or green card holder?

    A finance coordinator's background is also an important factor in determining whether they'll be a good fit for the position. For example, finance coordinators from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.

    Here's a comparison of finance coordinator salaries for various roles:

    Type Of Finance CoordinatorDescriptionHourly Rate
    Finance CoordinatorBookkeeping, accounting, and auditing clerks produce financial records for organizations. They record financial transactions, update statements, and check financial records for accuracy.$16-34
    Accounting ClerkAccounting clerks are employees assigned to manage administrative and clerical tasks in the accounting department. Accounting clerks handle office accounting records and ensure that files are properly labeled and stored... Show More$13-24
    Accounts Payable ClerkAn accounts payable clerk is responsible for supporting the accounting department by performing clerical duties to file financial reports timely and accurately. Accounts payable clerks manage and verify invoices documents, reconcile balance spreadsheets, process payments for suppliers and vendors, resolve billing discrepancies, confirm and post account statements, record outstanding credits, and maintain an organized record of transactions... Show More$14-23
  2. Create an ideal candidate profile

    Common Skills:
    • Patients
    • Customer Service
    • Payroll
    • Reconciliations
    • Data Entry
    • Insurance Benefits
    • Insurance Verification
    • Purchase Orders
    • Medicaid
    • PowerPoint
    • Journal Entries
    • Patient Accounts
    • Financial Analysis
    • Insurance Coverage
    Check All Skills
    Responsibilities:
    • Manage patient and insurance account receivables, perform patient account reconciliations, account audits, process insurance billing/correspondence.
    • Construct posts featuring highlights of past events on Facebook.
    • Enter EOB payments and denials and perform follow up with insurance company on denials.
    • Create promotional flyers for annual concerts and fundraisers which are posted through via Facebook and local areas.
    • Review and process EOB's daily, entering comments into the bill comment log as to status of follow up.
    • Produce basic PowerPoint presentation materials, including graphical renderings for illustration.
    More Finance Coordinator duties
  3. Make a budget

    Including a salary range in your finance coordinator job description helps attract top candidates to the position. A finance coordinator salary can be affected by several factors, such as geography, experience, seniority, certifications, and the prestige of the hiring company.

    For example, the average salary for a finance coordinator in West Virginia may be lower than in Maryland, and an entry-level finance coordinator usually earns less than a senior-level finance coordinator. Additionally, a finance coordinator with certifications may command a higher salary, and working for a well-known company or start-up may also impact an employee's pay.

    Average finance coordinator salary

    $49,358yearly

    $23.73 hourly rate

    Entry-level finance coordinator salary
    $34,000 yearly salary
    Updated February 10, 2025

    Average finance coordinator salary by state

    RankStateAvg. SalaryHourly Rate
    1District of Columbia$75,473$36
    2Maryland$69,375$33
    3New Jersey$63,535$31
    4New York$62,259$30
    5Massachusetts$58,425$28
    6Ohio$57,328$28
    7Virginia$56,396$27
    8California$55,892$27
    9Rhode Island$54,302$26
    10Illinois$53,952$26
    11Pennsylvania$52,292$25
    12Washington$52,190$25
    13Minnesota$51,627$25
    14Texas$50,615$24
    15Indiana$47,743$23
    16Oregon$47,015$23
    17Florida$46,755$22
    18New Hampshire$46,593$22
    19North Carolina$45,836$22
    20Tennessee$45,338$22

    Average finance coordinator salary by company

    RankCompanyAverage SalaryHourly RateJob Openings
    1McKinsey & Company Inc$100,131$48.142
    2Ascensus$86,688$41.68
    3Parsons$82,016$39.435
    4Baird$80,373$38.6411
    5PRWeek$79,148$38.05
    6Starz$77,494$37.262
    7Wpp Us Holdings Inc$75,608$36.357
    8IBM$73,131$35.165
    9David Weekley Homes$71,275$34.271
    10Intertek$70,884$34.081
    11World Economic Forum$69,955$33.632
    12Droga5$69,275$33.31
    13Alberici Constructors$67,990$32.69
    14Universal Music Group$67,472$32.443
    15Ogilvy$67,032$32.231
    16Boston Public Schools$66,548$31.991
    17Baptist Health Care$65,151$31.323
    18EDC$65,028$31.26
    19PepsiCo$64,448$30.986
    20Gehan Homes$64,330$30.93
  4. Writing a Finance Coordinator Job Description

    A job description for a finance coordinator role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's a finance coordinator job description:

    Finance Coordinator job description example

    Position Overview: An accounting expense coordinator is responsible for receiving all company invoices via mail, email, fax, and interoffice mail. Invoices must be entered into a software based approval process involving proficiency in overall computer use and data entry. This position involves auditing vendor accounts and following up on any billing issues that may arise. General correspondence with vendors and other departments within the company is mandatory and a general positive customer service persona is desired. Microsoft Access and Excel knowledge a plus but not necessary.
    Essential Duties and Responsibilities:
    Data entry of invoices into a software program Ability to use software to correctly label an invoice by vendor number and check due all notes General knowledge of departmental heads and their responsibilities Corresponding with other departments regarding invoices Reviewing vendor statements and following up on open invoices/ credits Corresponding with vendors regarding payment status or other concerns via telephone and email regularly Exceptional data entry skills Auditing of accounts Self-auditing of data entry in both software programs used Assisting others in Expenses department as needed in case of absence or increased work load
    Experience:
    Excellent computer proficiency Exceptional data entry Ability to work in a fast paced environment accurately with interruption Ability to pay attention to detail and relay such detail proficiently Customer service Willing to learn new tasks Time-management and prioritizing Ability to work with little to no supervision at times Work well with others Experience in an office setting
    Required Licenses/Certifications:

    High school diploma / GED

    Physical Requirements/Work Environment

    Other details
    Pay Type Hourly
    Apply Now
  5. Post your job

    To find finance coordinators for your business, try out a few different recruiting strategies:

    • Consider internal talent. One of the most important talent pools for any company is its current employees.
    • Ask for referrals. Reach out to friends, family members, and your current work to ask if they know any finance coordinators they would recommend.
    • Recruit at local colleges. Attend job fairs at local colleges to recruit entry-level finance coordinators with the right educational background.
    • Social media platforms. LinkedIn, Facebook, and Twitter have more than 3.5 billion users, and they're a great place for company branding and reaching potential job candidates.
    Post your job online:
    • Post your finance coordinator job on Zippia to find and recruit finance coordinator candidates who meet your exact specifications.
    • Use field-specific websites such as efinancialcareers, financialjobsweb.com, careerbank, financial job bank.
    • Post a job on free websites.
  6. Interview candidates

    Your first interview with finance coordinator candidates should focus on their interest in the role and background experience. As the hiring process goes on, you can learn more about how they'd fit into the company culture in later rounds of interviews.

    It's also good to ask about candidates' unique skills and talents. You can move on to the technical interview if a candidate is good enough for the next step.

    The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

  7. Send a job offer and onboard your new finance coordinator

    Once you've found the finance coordinator candidate you'd like to hire, it's time to write an offer letter. This should include an explicit job offer that includes the salary and the details of any other perks. Qualified candidates might be looking at multiple positions, so your offer must be competitive if you like the candidate. Also, be prepared for a negotiation stage, as candidates may way want to tweak the details of your initial offer. Once you've settled on these details, you can draft a contract to formalize your agreement.

    It's equally important to follow up with applicants who don't get the job with an email letting them know that the position has been filled.

    Once that's done, you can draft an onboarding schedule for the new finance coordinator. Human Resources should complete Employee Action Forms and ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc. They should also ensure that new employee files are created for internal recordkeeping.

  8. Go through the hiring process checklist

    • Determine employee type (full-time, part-time, contractor, etc.)
    • Submit a job requisition form to the HR department
    • Define job responsibilities and requirements
    • Establish budget and timeline
    • Determine hiring decision makers for the role
    • Write job description
    • Post job on job boards, company website, etc.
    • Promote the job internally
    • Process applications through applicant tracking system
    • Review resumes and cover letters
    • Shortlist candidates for screening
    • Hold phone/virtual interview screening with first round of candidates
    • Conduct in-person interviews with top candidates from first round
    • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
    • Conduct background checks on top candidates
    • Check references of top candidates
    • Consult with HR and hiring decision makers on job offer specifics
    • Extend offer to top candidate(s)
    • Receive formal job offer acceptance and signed employment contract
    • Inform other candidates that the position has been filled
    • Set and communicate onboarding schedule to new hire(s)
    • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)
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How much does it cost to hire a finance coordinator?

There are different types of costs for hiring finance coordinators. One-time cost per hire for the recruitment process. Ongoing costs include employee salary, training, onboarding, benefits, insurance, and equipment. It is essential to consider all of these costs when evaluating hiring a new finance coordinator employee.

The median annual salary for finance coordinators is $49,358 in the US. However, the cost of finance coordinator hiring can vary a lot depending on location. Additionally, hiring a finance coordinator for contract work or on a per-project basis typically costs between $16 and $34 an hour.

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