Financial managers

Median annual earnings of financial managers were $81,880 in May 2004. The middle 50 percent earned between $59,490 and $112,320. Median annual earnings in the industries employing the largest numbers of financial managers in 2004 were as follows:

According to a 2005 survey by Robert Half International, a staffing services firm specializing in accounting and finance professionals, directors of finance earned between $78,500 and $178,250, and corporate controllers earned between $61,250 and $147,250.

A 2004 survey of manufacturing firms conducted by Abbot, Langer, and Associates, Inc., a human resources management consulting firm, reported the following median annual incomes: chief corporate financial officers, $130,000; corporate controllers, $86,150; cost accounting managers, $67,161; and general accounting managers, $64,100.

Large organizations often pay more than small ones, and salary levels also can depend on the type of industry and location. Many financial managers in both public and private industry receive additional compensation in the form of bonuses, which, like salaries, vary substantially by size of firm. Deferred compensation in the form of stock options is becoming more common, especially for senior-level executives.

Financial managers held about 528,000 jobs in 2004. Although they can be found in every industry, approximately 3 out of 10 are employed by finance and insurance establishments, such as banks, savings institutions, finance companies, credit unions, insurance carriers, and securities dealers. About 1 in 10 works for Federal, State, or local government.

(from the Occupational Outlook Handbook: Financial Managers)

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