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Finance director hiring summary. Here are some key points about hiring finance directors in the United States:
Here's a step-by-step finance director hiring guide:
A finance director's role is to oversee all financial activities and aspects of a company or organization. One of their duties is to gather necessary financial data and cultivate reports on essential matters such as revenue and budget, provide risk assessments and estimates, implement vital policies, and allocate funds within the company. Furthermore, a finance director must also devise strategies and recommend innovative methods for financial gains, while in adherence to the organization's policies and regulations.
The finance director hiring process starts by determining what type of worker you actually need. Certain roles might require a full-time employee, whereas part-time workers or contractors can do others.
A finance director's background is also an important factor in determining whether they'll be a good fit for the position. For example, finance directors 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.
This list presents finance director salaries for various positions.
| Type of Finance Director | Description | Hourly rate |
|---|---|---|
| Finance Director | 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. | $36-87 |
| Director Of Administration & Finance | A director of administration finance oversees and directs an organization's administration and finance department, ensuring operations run smoothly and efficiently according to company standards and regulations. It is their duty to set goals and guidelines, lead the research and development efforts, establish procedures, manage the budgets and costs, review and evaluate financial reports, and implement the organizations' policies and standards... Show more | $35-77 |
| Director Of Operations And Finance | A director of operations and finance is in charge of overseeing and spearheading business and financial operations, ensuring efficiency and smooth workflow. Their responsibilities revolve around performing research and analysis to identify the best practices to optimize operations, coordinating with different departments to gather data, conducting research and analysis to identify new business and investment opportunities, and monitoring the progress of various projects and programs... Show more | $37-87 |
Including a salary range in your finance director job description is one of the best ways to attract top talent. A finance director can vary based on:
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | California | $144,203 | $69 |
| 2 | New York | $131,112 | $63 |
| 3 | Massachusetts | $126,352 | $61 |
| 4 | New Jersey | $124,042 | $60 |
| 5 | Connecticut | $118,875 | $57 |
| 6 | Pennsylvania | $118,567 | $57 |
| 7 | Michigan | $114,628 | $55 |
| 8 | District of Columbia | $112,965 | $54 |
| 9 | Virginia | $111,422 | $54 |
| 10 | Maryland | $109,842 | $53 |
| 11 | Texas | $109,661 | $53 |
| 12 | Oregon | $108,939 | $52 |
| 13 | Nevada | $108,708 | $52 |
| 14 | Washington | $106,813 | $51 |
| 15 | Arizona | $105,622 | $51 |
| 16 | North Carolina | $103,846 | $50 |
| 17 | Illinois | $103,246 | $50 |
| 18 | Maine | $102,930 | $49 |
| 19 | Indiana | $101,144 | $49 |
| 20 | Minnesota | $100,307 | $48 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Meta | $216,489 | $104.08 | 22 |
| 2 | $207,286 | $99.66 | 47 | |
| 3 | Maine Health/maine Mental Health Partners | $206,472 | $99.27 | 5 |
| 4 | Barclays | $202,314 | $97.27 | 5 |
| 5 | Proskauer Rose | $201,619 | $96.93 | |
| 6 | Citi | $193,509 | $93.03 | 26 |
| 7 | Chegg | $193,445 | $93.00 | |
| 8 | McKinsey & Company Inc | $192,051 | $92.33 | |
| 9 | The Rockefeller Foundation | $191,802 | $92.21 | 4 |
| 10 | Deutsche Bank | $191,679 | $92.15 | 17 |
| 11 | Centerbridge Partners | $190,784 | $91.72 | |
| 12 | Cohen & Steers | $189,274 | $91.00 | |
| 13 | Genentech | $188,428 | $90.59 | |
| 14 | Uber Technologies | $187,076 | $89.94 | |
| 15 | BNY Mellon | $185,801 | $89.33 | 40 |
| 16 | MUFG EMEA | $183,039 | $88.00 | |
| 17 | Boston Consulting Group | $182,660 | $87.82 | 3 |
| 18 | Archdiocese of Omaha | $182,081 | $87.54 | |
| 19 | Cisco | $180,148 | $86.61 | 5 |
| 20 | PVH | $179,944 | $86.51 | 7 |
A job description for a finance director 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 director job description:
There are a few common ways to find finance directors for your business:
Your first interview with finance director 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.
Once you've selected the best finance director candidate for the job, it's time to write an offer letter. In addition to salary, this letter should include details about the benefits and perks you offer the candidate. Ensuring that your offer is competitive is essential, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and you should be open to discussion. After you reach an agreement, the final step is formalizing the agreement with a contract.
It's also good etiquette to follow up with applicants who don't get the job by sending them an email letting them know that the position has been filled.
After that, you can create an onboarding schedule for a new finance director. Human Resources and the hiring manager should complete Employee Action Forms. Human Resources should also ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc., and that new employee files are created.
There are different types of costs for hiring finance directors. 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 director employee.
The median annual salary for finance directors is $118,518 in the US. However, the cost of finance director hiring can vary a lot depending on location. Additionally, hiring a finance director for contract work or on a per-project basis typically costs between $36 and $87 an hour.