Also known as Banking Center Manager (BCM), Branch Manager, Credit Administration Manager, Financial Center Manager, Regional Manager, Service Center Manager
Also known as Banking Center Manager (BCM), Branch Manager, Credit Administration Manager
Financial Managers plan, direct, or coordinate accounting, investing, banking, insurance, securities, and other financial activities of a branch, office, or department of an establishment.
Financial Managers are often responsible for overseeing or executing some or all of the following tasks:
The above responsibilities are specific to Financial Managers. More generally, Financial Managers are involved in several broader types of activities:
The median salary for a Financial Manager is $134,180, and the average salary is $151,510. Both the median and average roughly describe the middle of the Financial Manager salary range, but the average is more easily affected by extremely high or low salaries.
Many Financial Managers earn significantly more or less than the average, due to several factors. About 10% of Financial Managers earn less than $70,830 per year, 25% earn less than $95,770, 75% earn less than $186,030, and 90% earn more than $208,000.
Between the years of 2020 and 2030, the number of Financial Managers is expected to change by 17.3%, and there should be roughly 64,200 open positions for Financial Managers every year.
Career interests describe a person's preferences for different types of working environments and activities. When a person's interest match the demands of an occupation, people are usually more engaged and satisfied in that role.
Compared to most occupations, those who work as a Financial Manager are usually higher in their Enterprising and Conventional interests.
Financial Managers typically have very strong Enterprising interests. Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
Also, Financial Managers typically have strong Conventional interests. Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
People differ in their values, or what is most important to them for building job satisfaction and fulfillment.
Compared to most people, those working as a Financial Manager tend to value Working Conditions, Independence, and Recognition.
Most importantly, Financial Managers very strongly value Working Conditions. Occupations that satisfy this work value offer job security and good working conditions.
Second, Financial Managers very strongly value Independence. Occupations that satisfy this work value allow employees to work on their own and make decisions.
Lastly, Financial Managers strongly value Recognition. Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious.
Each occupation brings its own set of psychological demands, which describe the characteristics necessary to perform the job well.
In order to perform their job successfully, people who work as Financial Managers must consistently demonstrate qualities such as dependability, integrity, and attention to detail.
Below, you'll find a list of qualities typically required of Financial Managers, ranked by importance:
Many Financial Managers will have a four-year bachelor's degree, but some do not.
Financial Managers usually need several years of work-related experience, on-the-job training, and/or vocational training.
Financial Managers may benefit from understanding of specialized subject areas, such as economics and accounting, administration and management, or mathematics knowledge.
The list below shows several areas in which most Financial Managers might want to build proficiency, ranked by importance.
Financial Managers must develop a particular set of abilities to perform their job well. Abilities are individual capacities that influence a person's information processing, sensory perception, motor coordination, and physical strength or endurance. Individuals may naturally have certain abilities without explicit training, but most abilities can be sharpened somewhat through practice.
For example, Financial Managers need abilities such as oral expression, oral comprehension, and written comprehension in order to perform their job at a high level. The list below shows several important abilities for Financial Managers, ranked by their relative importance.
Skills are developed capacities that enable people to function effectively in real-world settings. Unlike abilities, skills are typically easier to build through practice and experience. Skills influence effectiveness in areas such as learning, working with others, design, troubleshooting, and more.
Financial Managers frequently use skills like reading comprehension, active listening, and speaking to perform their job effectively. The list below shows several critical skills for Financial Managers, ranked by their relative importance.
The information provided on this page is adapted from data and descriptions published by the U.S. Department of Labor, Employment and Training Administration under the CC BY 4.0 license. TraitLab has modified some information for ease of use and reading, and the U.S. Department of Labor, Employment, and Training Administration has not approved, endorsed, or tested these modifications.
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