Financial managers | Data USA (2024)

FAQs

How many financial managers are there in the US? ›

There are currently an estimated 580,400 financial managers in the United States.

The role of a Finance Manager is inherently demanding, with the need to oversee financial planning, manage risks, and ensure the fiscal health of their organization. These tasks often extend beyond the typical nine-to-five workday, encroaching on personal time and challenging the very concept of work-life balance.

The BLS predicts a 17% growth in financial manager jobs between 2020 and 2030, which is higher than average. Those graduating with a finance degree (or related subject) should find high demand for financial managers over the next decade, particularly in metropolitan areas.

An Industry in Crisis

According to a recent article from GoingConcern, a resource for accountants, 95% of hiring managers in finance and accounting face difficulty locating skilled talent available for hire.

The workforce of Financial managers in 2022 was 1,360,907 people, with 55.6% woman, and 44.4% men. The average age of male Financial managers in the workforce is 44 and of female Financial managers is 45.1, and the most common race/ethnicity for Financial managers is White.

Have a clear understanding of your career aspirations and be able to articulate them to the interviewer. Prepare answers to common finance manager interview questions, such as those related to your experience working with financial data, forecasting, and budgeting.

The financial manager's responsibilities include financial planning, investing (spending money), and financing (raising money). Maximizing the value of the firm is the main goal of the financial manager, whose decisions often have long-term effects.

Financial managers spend much of their time analyzing data and advising senior managers on ways to maximize profits. They often work on teams, acting as advisors to top executives. Financial managers must have knowledge of the topics, tax laws, and regulations that are specific to their organization or industry.

Is financial manager a stressful job? ›

Financial management is a demanding and rewarding career, but it can also be stressful and challenging. You may face tight deadlines, complex problems, high expectations, and constant changes.

Financial managers enjoy an excellent income. According to the Bureau of Labor Statistics (BLS), financial managers earn a median annual salary of $134,180. But that's not the complete story. Top-earning financial managers make more than $200,000 per year.

While ZipRecruiter is seeing salaries as high as $166,788 and as low as $41,450, the majority of Financial Manager salaries currently range between $93,300 (25th percentile) to $165,800 (75th percentile) with top earners (90th percentile) making $165,800 annually in California.

High passive returns, even if they aren't due to skill, attract new investor money, which gets the company more management fees. And when more investor money comes in, managers get rewarded. This bolsters the notion of “money doctors” -- the idea that managers mainly add value by building trust with investors.

According to the 2021 U.S. Bureau of Labor Statistics data, there are more than 330,300 financial advisors employed in the United States with an increasing number projected over the next decade.

The workforce of Management occupations in 2021 was 15,830,701 people, with 42.2% woman, and 57.8% men. The average age of male Management occupations in the workforce is 46.4 and of female Management occupations is 44.3, and the most common race/ethnicity for Management occupations is White.

With over 200,000 financial advisors in the US, it's clear that people seek financial guidance.

There are 7,605,892 people employed in the Finance and Insurance industry in the US as of 2023.