Salary and benefits of becoming a financial manager - Essay Example

Comments (0) Cite this document
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 PAPER97.6% 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 puts into perspective some of the trends that have been registered in financial manager salaries over the past few years.
According to input from, 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, 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).
Bureau of Labor and Statistics. Occupational Employment and Wages May 2014
11-3031 Financial Managers. Retrieved from:
Indeed One Search. Financial Manager Salary. Retrieved from:
Novack, Janet. 6 Pointed Questions to Ask Before Hiring a Financial Advisor. Forbes Magazine. Retrieved from:
Pay Scale Human Capital. Finance Manager Salary (United States). Retrieved from:
US News Money. Financial Manager. Retrieved from: Read More
Cite this document
  • APA
  • MLA
(“Salary and benefits of becoming a financial manager Essay”, n.d.)
Salary and benefits of becoming a financial manager Essay. Retrieved from
(Salary and Benefits of Becoming a Financial Manager Essay)
Salary and Benefits of Becoming a Financial Manager Essay.
“Salary and Benefits of Becoming a Financial Manager Essay”, n.d.
  • 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...
13 Pages(3250 words)Research Paper

Salary packaging and Taxation

.... Superannuation is money put in for a person's retirement. Strict government policy prevent untimely access to conserved benefits except in extremely limited and constrained circumstances, as well as severe financial adversity or on a compassionate basis, such as for medical cure not obtainable through Medicare. Usually, superannuation benefits are in three categories: conserved benefits; restricted non-conserved benefits; and unhindered non-preserved benefits. Mainly superannuation is concessionary taxed at a level charge of 15% at two key points: on contributions, and on salary. Capital Gain Tax inside the fund though...
21 Pages(5250 words)Essay

Negotiating One's Salary and Benefits

...would be highly paid including all benefits and profit sharing, and their benefit too will be high. When attending an interview one need not initiate the idea of salary unless the employer comes up with it. Thus, there are times one will look for basic information concerning the negotiating salaries and benefits. This study shows what one needs in order to negotiate salaries and benefits. The job seeker has to determine the market salary range for that position. Preparation of a budget will determine the financial needs of an individual. This will help take a decision on what one wants...
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...
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...
3 Pages(750 words)Research Paper

International Financial Manager

...Financial Manager should be flexible since the financial assignments and projects are driven according to the business requirements. An IFM could be a fresh MBA or a management or finance professional seeking to take a next step in his or her career. As an IFM at HSBC, one should be able to: Demonstrate leadership qualities. Commit to the ongoing global mobility across the career path. Develop a clear understanding of the challenges and opportunities related to the changing roles at regular intervals. Make an immediate impact irrespective of the current level or status of the job. HSBC provides a highly competitive remuneration package and benefits to...
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...
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

..., and scheduling. Some areas in which HR personnel need to be quite knowledgeable include performance management, benefits administration, human resource management, hiring, compensation structure and system, performance appraisal, classification of employees, devising laws and organizational policies (“Recruiting and Hiring”). Conclusion HR department and the people involved in it play a very important role in the day to day operation of an organization. There is a lot of diversity in the job responsibilities of the HR personnel. In order to perform those duties, they have to be equipped with a wide range of soft skills and technical skills. Works Cited: Aswathappa, K. Human...
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...
5 Pages(1250 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