StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Salary and benefits of becoming a financial manager - Essay Example

Comments (0) Cite this document
Summary
Serving any establishment in the capacity of a financial manager is relatively challenging given that the individual will be tasked with the responsibility of monitoring the finances of the organization, thereby ensuring that the firm has the financial muscle to accomplish its…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93.7% of users find it useful
Salary and benefits of becoming a financial manager
Read TextPreview

Extract of sample "Salary and benefits of becoming a financial manager"

Salary and Benefits of Becoming a Financial Manager Serving any establishment in the capa of a financial manager is relatively challenging given that the individual will be tasked with the responsibility of monitoring the finances of the organization, thereby ensuring that the firm has the financial muscle to accomplish its objectives (Novack). Whereas experience plays an integral role in determining the starting salary of professionals in various fields, that is not the case for financial managers, for their average preliminary salary stands at about $66,000 annually (BLS). The income of financial managers is customarily expected to rise based on their expertise in various specialties ranging from strategic planning, financial analysis, forecasting and financial modelling. Consequently, financial managers are expected to take home an annual income averaging at about $83,000 to 130,000 after a being on the job for a duration of about ten years.
This graph from indeed.com puts into perspective some of the trends that have been registered in financial manager salaries over the past few years.
According to input from payscale.com, financial managers not only take home attractive wages, but similarly smile to the bank due to the direct and indirect benefits that they take home. In highlighting some of the direct benefits that come with the job, payscale.com precisely reports, “Average Finance Managers in the United States make around $83K per year. Individual bonuses, profit sharing and commission for Finance Managers — as high as $19K, $13K and $87K, respectively” (Pay Scale). Apart from the benefits highlighted, the managers indirectly benefit from other remunerations like medical coverage for entitled family members, as well as a perfect savings plan, which ensures that their retirement is well catered for (US News).
Works-Cited
Bureau of Labor and Statistics. Occupational Employment and Wages May 2014
11-3031 Financial Managers. Retrieved from: http://www.bls.gov/oes/current/oes113031.htm
Indeed One Search. Financial Manager Salary. Retrieved from: http://www.indeed.com/salary/Finance-Manager.html
Novack, Janet. 6 Pointed Questions to Ask Before Hiring a Financial Advisor. Forbes Magazine. Retrieved from: http://www.forbes.com/sites/janetnovack/2013/09/20/6-pointed-questions-to-ask-before-hiring-a-financial-advisor/
Pay Scale Human Capital. Finance Manager Salary (United States). Retrieved from: http://www.payscale.com/research/US/Job=Finance_Manager/Salary
US News Money. Financial Manager. Retrieved from: http://money.usnews.com/careers/best-jobs/financial-manager Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Salary and benefits of becoming a financial manager Essay”, n.d.)
Salary and benefits of becoming a financial manager Essay. Retrieved from https://studentshare.org/english/1687882-salary-and-benefits-of-becoming-a-financial-manager
(Salary and Benefits of Becoming a Financial Manager Essay)
Salary and Benefits of Becoming a Financial Manager Essay. https://studentshare.org/english/1687882-salary-and-benefits-of-becoming-a-financial-manager.
“Salary and Benefits of Becoming a Financial Manager Essay”, n.d. https://studentshare.org/english/1687882-salary-and-benefits-of-becoming-a-financial-manager.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Salary and benefits of becoming a financial manager

Airbus: Financial Benefits & Costs

...? Airbus: Financial Benefits & Costs Table of Contents 3 of the firm 4 ABC benefits 7 Standard Costs 11 Relevant Costs 14 Conclusion and Recommendations 16 References……………………………………………………………………………………….17 Abstract Airbus is a leading manufacturing airline company in the world. Despite its largest share in the market, Airbus still faces some particular criticism due to its internal disagreements. This unraveled when the company lost almost $300 million on the contracts it had with the consortium, a member of Aerospace in Britain who called for the reorganization of the managerial and financial structure of Airbus. This was done in 1988 by sprucing the supervisory board of the company, the creation of the executive board, and the establishment...
13 Pages(3250 words)Research Paper

Negotiating One's Salary and Benefits

Writing out applications and covering letters, attaching resumes and visiting job interviews till one is selected is a laborious process but one does ultimately learn what works and what doesn’t in the real world. The proof is that one, finally, gets the job - now what comes next?
The question of salary and benefits during the selection process has brought out varying reactions from a number of different candidates. While some people embrace it as a way of proving their net worth in the market place, others fear and label it as unpleasant because it is likely to intervene in negotiations and could keep them back from joining a company. Thus, negotiating salary and benefits refers to the ability to know what the worth of your...
10 Pages(2500 words)Essay

Financial Manager

...Financial Manager Role of a Financial Manager A financial manager of any company or firm is faced with most crucial options and decisions on a both day-to-day basis and for longer time durations. The primary aim of a financial manager's activities and planning should be to increase and add to the shareholders' wealth and maximize the company share's value. This implies that all the decisions taken by the financial manager must result in higher profitability and growth of the company. This would increase the company's share price in the financial markets and benefit the shareholders with increased dividend yields and capital gains. All the operations of the business are initiated and supported by the financial manager's evaluations...
4 Pages(1000 words)Essay

Salary assignment

... Salary Assignment Anybody who works is en d to earning salary. A salary can be on a monthly basis, as it is in most cases, or even on a daily basis depending on the nature of work. The question to ask ourselves, hence, is “what is this salary assignment?” According to the definition (The Free Dictionary, 2012), salary assignment, also called wage assignment, is a word meaning the benefit of creditors in which the debtor assigns his or her personal property to a trustee who later on sells the same property and applies the proceeds as a debt. In the long run, any excess amount incurred is granted to the debtor. The Alberta wage survey is said to cover 400 occupations providing information about the salaries and wages for both full time...
3 Pages(750 words)Research Paper

International Financial Manager

International Financial Manager
The Hong Kong and Shanghai Banking Corporation (HSBC) was established in 1865. It currently stands among the largest financial services and banking firms of the world and holds 6,900 offices in both established and rapidly growing financial markets of the world. They serve about sixty million of clients in various countries by means of their four businesses worldwide, namely: Commercial Banking, Retail Banking and Wealth Management, Global Private Banking and Global Banking and Markets. Their network of banking and financial services include 87 countries and territories in the regions of Europe, Africa, Middle East, Asia Pacific, Latin America and North America. Surely, they are acknowledged as...
2 Pages(500 words)Essay

Graduate Work and Becoming a Better Manager

...Graduate Work and Becoming a Better Manager When I decided to enroll for MBA, I knew I had made the right decision. Although I pursued undergraduate degree in Business Management, I felt it was not good enough to enable me achieve my goal of being a manager. I wanted to be a better manager. Choosing to pursue my degree at Walden University was a good idea since their vision and mission were in line with my future goals. My aim of enrolling for MBA was to attain extensive practical knowledge base on theory and other skills related to business management. I wanted to be able to extend my knowledge in business management and apply the knowledge in resolving the problems facing the XXI century business environment. Additionally, I realized...
2 Pages(500 words)Essay

Salary Benefits

...Getting acclamation, recognitions or even compensation should be based on merit and performance. It should be proportional to the work done, and no one should benefit for something, which they do not deserve. Those with opportunities to act should not act just to satisfy their own interests, but for the common good of their employees and the people who consent them to act on their behalf. This essay principally looks at how different people are recognized and how this habit should change to a more realist method of recognition Real estate agents are normally paid on commission on each house they manage to sell and in most circumstances. The agents put more emphasis on their commission and lay aside the homeowner’s need and target...
2 Pages(500 words)Essay

Human Resources Manager Salary

HRD comprises a team of HR personnel that take care of different aspects of HR management. Some of the roles in this team include HR Director, HR Manager, and HR Coordinator. Large and complex organizations may have even more people taking care of distinct areas of HR Management, whereas small enterprises may delegate all responsibilities to one or two people that comprise the whole HR department.
Owing to the multiplicity and diversity of job responsibilities assigned to the HR personnel, many organizations find it hard to establish what academic qualification should be made compulsory for hiring HR personnel. Nevertheless, “the qualification expected from an HR manager is an MBA with specialization in HR/Personnel Mana...
4 Pages(1000 words)Research Paper

The Benefits of Emergency Manager

...The Benefits of Emergency Manager Create a report with the questions and subsequent answers. 1. What are the standardized government policies in regards to the WMDs? 2. What amount of experience does an individual need before they can becomes an emergency disaster coordinator? 3. Who are the stakeholders that the emergency disaster coordinator expected to coordinate with in order to handle the WMDs? 4. What is the jurisdiction of an emergency disaster coordinator in relation to handling of the WMDs? 5. In case of a WMD disaster, at what point does the emergency disaster coordinator ask for the assistance of the federal government? 6. What are some of the benefits an emergency disaster coordinator receives for the risk in their work...
5 Pages(1250 words)Assignment

Benefits of Becoming a Learning Organisation

... A Learning Organisation What are the benefits of becoming a ‘Learning Organisation’, especially with regard to knowledge management? Critically discuss, supporting your argument with relevant theory. Introduction Organisational Learning and the application of the relative learning to improve the chances of an organisation meeting its stated objectives has become one of the buzzwords for modern business. While it may seem that an organisation seeks to improve the knowledge levels of its employees to help them improve their skills, the business objective behind being a learning organisation is simple since it allows a company to grow in terms of implicit knowledge assets. While every company seeks competence when it recruits HR...
7 Pages(1750 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Salary and benefits of becoming a financial manager for FREE!

Contact Us