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.
Financial managers work in many industries, including banks and insurance companies. Most financial managers work full time, and about 1 in 3 worked more than 40 hours per week in 2014.
How to Become a Financial Manager
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, auditor, securities sales agent, or financial analyst.
Employment of financial managers is projected to grow 7 percent from 2014 to 2024, about as fast as the average for all occupations. As with other managerial occupations, jobseekers are likely to face competition because there are more applicants than job openings. Candidates with a master’s degree or certification should enjoy the best job prospects.
This occupation supported 532,100 jobs in 2012 and 555,900 jobs in 2014, reflecting an increase of 4.5%. In 2012, this occupation was projected to increase by 8.9% in 2022 to 579,200 jobs. As of 2014, to keep pace with prediction, the expected number of jobs was 541,500, compared with an observed value of 555,900, 2.7% higher than expected. This indicates current employment trends are better than the 2012 trend within this occupation. In 2014, this occupation was projected to increase by 7.1% in 2024 to 593,500 jobs. Linear extrapolation of the 2012 projection for 2022 results in an expected number of 588,600 jobs for 2024, 0.8% lower than the 2014 projection for 2024. This indicates expectations for future employment trends are about on track with the 2012 trend within this occupation.