What Do Financial Managers Do?
Wondering what the job is really like for financial managers?
You've come to the right place.
Keep reading to find detailed information about what financial managers do, including the type of work they are tasked with on a daily basis, industries in which they work, and the specific skills needed for a successful career.
Financial Managers Overview & Description
Let's get started with the basics about financial managers by taking a look at a simple description and popular job titles.
Financial Managers plan, direct, or coordinate accounting, investing, banking, insurance, securities, and other financial activities of a branch, office, or department of an establishment.
Popular Job Titles For Financial Managers
Sample of Reported Job Titles
- Controllers
- Branch Managers
- Accounting Managers
- Tax Managers
- Finance Managers
- Directors of Finance
- Accountants/Assistant Controllers
- Assistant Branch Managers
- Executive Directors
- Chief Financial Officers
- Financial Controllers
- Plant Controllers
Read on for insight into the industries where the highest concentration of jobs for financial managers can be found.
Best Industries for Financial Managers
Financial Managers Jobs By Industry
- Depository Credit Intermediation: 11.2%
- Management of Companies and Enterprises: 10.1%
- Accounting, Tax Preparation, Bookkeeping, and Payroll Services: 6.7%
- Insurance Carriers: 5%
- Other Financial Investment Activities: 3.7%
- Nondepository Credit Intermediation: 3%
- Other: 60.3%
When it comes to jobs in the United States, the largest single category of financial managers can be found working in the Depository Credit Intermediation sector. In 2022, about 11.2% of all jobs for financial managers were found there.
Other top industries by percentage include Management of Companies and Enterprises (10.1%), Accounting, Tax Preparation, Bookkeeping, and Payroll Services (6.7%), Insurance Carriers (5%), Other Financial Investment Activities (3.7%) and Nondepository Credit Intermediation (3%).
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Degree Options for Financial Managers
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Build a strong foundation of real-world business knowledge suitable for a variety of career options in your industry of choice.
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Master finance principles and develop all-inclusive corporate finance strategies for business firms and financial institutions.
- Class Type: 100% online
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- Accreditation: IACBE
Leverage customized solutions to help families and individuals organize life priorities and plan for their financial futures.
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- Accreditation: IACBE
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- Years To Complete: 3
Distinguish yourself as a knowledgeable accounting professional with advanced technical, research, and communication skills.
- Class Type: 100% online
- Months To Complete: 17
- Accreditation: IACBE
- Placement Tests: GMAT/GRE not required for admission
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Develop into a well-rounded, adaptive and strategic business leader with a comprehensive mindset.
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What Do Financial Managers Do on a Daily Basis?
So you have a high-level understanding of what financial managers do and the types of industries in which they work - but what do they really do each day?
A great way to understand the type of work financial managers do is to examine actual job postings and focus on the specific skills that employers are seeking. That will help paint a clearer picture of the tasks that financial managers tackle each day.
Continue reading for a breakdown of specialized skills found in job postings for financial managers, as well as common skills - interpersonal qualities and attributes - that can help you thrive in the workplace.
In-Demand Skills for Today's Financial Managers
Based on 409,008 job postings
Top 5 Specialized Skills for Financial Managers
Skills | Postings | % of Total Postings |
---|---|---|
Accounting | 252,985 | 62% |
Finance | 219,300 | 54% |
Financial Statements | 153,924 | 38% |
Auditing | 134,946 | 33% |
Generally Accepted Accounting Principles | 96,637 | 24% |
Top 5 Common Skills for Financial Managers
Skills | Postings | % of Total Postings |
---|---|---|
Management | 221,137 | 54% |
Communications | 190,792 | 47% |
Leadership | 173,212 | 42% |
Operations | 160,726 | 39% |
Budgeting | 119,798 | 29% |
Based on 409,008 job postings related to financial managers, accounting was the top specialized skill sought by employers, with 62% of all postings looking for that skillset. Skills for finance, financial statements, auditing, generally accepted accounting principles and internal controls were also highly sought.
As for common skills, management was the most desired skill found in job postings for financial managers, followed by communications, leadership, operations, budgeting and forecasting.
Skill | Postings | % of Total Postings |
---|---|---|
Accounting | 252,985 | 62% |
Finance | 219,300 | 54% |
Financial Statements | 153,924 | 38% |
Auditing | 134,946 | 33% |
Generally Accepted Accounting Principles | 96,637 | 24% |
Internal Controls | 69,839 | 17% |
Financial Analysis | 62,168 | 15% |
Accounts Payable | 60,349 | 15% |
Accounts Receivable | 54,029 | 13% |
General Ledger | 52,631 | 13% |
Month-End Closing | 50,739 | 12% |
Public Accounting | 47,470 | 12% |
Project Management | 46,025 | 11% |
Balance Sheet | 43,322 | 11% |
External Auditing | 43,289 | 11% |
Process Improvement | 42,655 | 10% |
Investments | 41,732 | 10% |
Financial Services | 41,473 | 10% |
Financial Planning | 36,680 | 9% |
Billing | 35,059 | 9% |
Skill | Postings | % of Total Postings |
---|---|---|
Management | 221,137 | 54% |
Communications | 190,792 | 47% |
Leadership | 173,212 | 42% |
Operations | 160,726 | 39% |
Budgeting | 119,798 | 29% |
Forecasting | 104,353 | 26% |
Sales | 93,170 | 23% |
Planning | 92,031 | 23% |
Microsoft Excel | 92,027 | 23% |
Customer Service | 88,656 | 22% |
Problem Solving | 86,109 | 21% |
Detail Oriented | 77,887 | 19% |
Writing | 70,391 | 17% |
Microsoft Office | 58,300 | 14% |
Research | 56,285 | 14% |
Coaching | 54,824 | 13% |
Presentations | 54,678 | 13% |
Interpersonal Communications | 52,100 | 13% |
Coordinating | 51,013 | 12% |
Self-Motivation | 49,069 | 12% |
Most In-Demand Jobs for Financial Managers
Top 5 Posted Job Titles
Job Title | Postings | % of Total Postings |
---|---|---|
Controllers | 91,881 | 19.3% |
Branch Managers | 63,622 | 13.4% |
Accounting Managers | 47,431 | 10% |
Tax Managers | 40,007 | 8.4% |
Finance Managers | 32,169 | 6.8% |
According to job postings that were published between September 2021 and August 2022, the top job sought by employers was controllers, with 35,836 unique job postings. Branch managers were second, with 19,711 postings, followed by accounting managers, tax managers and finance managers.
Expand the section below to see unique job postings for all occupations related to financial managers.
Job Title | Postings | % of Total Postings |
---|---|---|
Controllers | 91,881 | 19.3% |
Branch Managers | 63,622 | 13.4% |
Accounting Managers | 47,431 | 10% |
Tax Managers | 40,007 | 8.4% |
Finance Managers | 32,169 | 6.8% |
Directors of Finance | 25,964 | 5.4% |
Accountants/Assistant Controllers | 27,922 | 5.9% |
Assistant Branch Managers | 24,353 | 5.1% |
Executive Directors | 21,315 | 4.5% |
Chief Financial Officers | 17,929 | 3.8% |
Financial Controllers | 10,229 | 2.1% |
Plant Controllers | 9,302 | 2% |
Accounting Supervisors | 10,346 | 2.2% |
Corporate Controllers | 9,910 | 2.1% |
Financial Center Managers | 10,599 | 2.2% |
Financial Planning and Analysis Managers | 9,574 | 2% |
Directors of Accounting | 6,549 | 1.4% |
Financial Reporting Managers | 5,751 | 1.2% |
Vice Presidents of Finance | 5,554 | 1.2% |
Tax Managers/Certified Public Accountants | 6,087 | 1.3% |
Additional Links
Ready to dig deeper into career information for financial managers? Visit our other pages focused on salary and education for financial managers.
How much do financial managers make?
Financial Managers: How do you become one?
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