Financial managers
May 2005 employment and annual earnings distribution, wage and salary workers
Financial Managers: Plan, direct, and coordinate accounting, investing, banking, insurance, securities, and other financial activities of a branch, office, or department of an establishment.
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.
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:
| Securities and commodity contracts intermediation and brokerage | $129,770 |
| Management of companies and enterprises | 97,730 |
| Nondepository credit intermediation | 88,870 |
| Local government | 67,260 |
| Depository credit intermediation | 64,530 |
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.
(from the Occupational Outlook Handbook: Financial Managers)
See more recent statistics for employed workers below.
May 2005 employment and annual earnings distribution, wage and salary workers
National Occupational Employment and Earnings by Industry (NAICS sector and 3-digit industry group)
| Financial managers | |||||
| Percentile earnings distribution | |||||
| 10th | 25th | 50th | 75th | 90th | |
| Agriculture, Forestry, Fishing, and Hunting employment: 220 mean earnings: $81,220 (def) (IG) | $44,810 | $52,530 | $68,840 | $96,960 | $140,550 |
| Support Activities for Agriculture and Forestry employment: 210 mean earnings: $81,290 | $44,080 | $52,210 | $68,570 | $95,410 | $143,650 |
| Mining employment: 3,080 mean earnings: $102,680 (EC) (def) (IG) | $53,430 | $68,230 | $91,190 | $124,860 | >$145K |
| Oil and Gas Extraction employment: 2,050 mean earnings: $109,550 | $56,870 | $71,040 | $98,840 | $138,760 | >$145K |
| Mining (except Oil and Gas) employment: 490 mean earnings: $85,680 | $49,660 | $63,520 | $80,380 | $98,950 | $127,520 |
| Support Activities for Mining employment: 550 mean earnings: $92,070 | $49,220 | $64,150 | $84,190 | $108,510 | >$145K |
| Utilities employment: 2,340 mean earnings: $96,990 (EC) (def) (IG) | $59,000 | $73,870 | $89,950 | $113,280 | >$145K |
| Utilities employment: 2,340 mean earnings: $96,990 | $59,000 | $73,870 | $89,950 | $113,280 | >$145K |
| Construction employment: 11,820 mean earnings: $87,300 (EC) (def) (IG) | $46,200 | $57,810 | $77,770 | $106,890 | >$145K |
| Construction of Buildings employment: 5,030 mean earnings: $89,810 | $47,570 | $58,070 | $78,900 | $110,190 | >$145K |
| Heavy and Civil Engineering Construction employment: 2,750 mean earnings: $92,260 | $49,100 | $63,610 | $84,210 | $112,270 | >$145K |
| Specialty Trade Contractors employment: 4,040 mean earnings: $80,800 | $41,500 | $54,260 | $72,590 | $97,180 | $133,500 |
| Manufacturing employment: 49,600 mean earnings: $95,510 (EC) (def) (IG) | $53,480 | $68,570 | $87,800 | $113,930 | >$145K |
| Food Manufacturing employment: 3,150 mean earnings: $91,490 | $51,160 | $65,280 | $84,150 | $109,120 | $144,320 |
| Beverage and Tobacco Product Manufacturing employment: 890 mean earnings: $102,610 | $55,140 | $73,170 | $91,790 | $121,630 | >$145K |
| Textile Mills employment: 540 mean earnings: $90,090 | $50,370 | $65,340 | $84,040 | $107,670 | $140,550 |
| Textile Product Mills employment: 310 mean earnings: $84,940 | $43,620 | $60,280 | $78,450 | $101,660 | $138,930 |
| Apparel Manufacturing employment: 650 mean earnings: $89,420 | $49,140 | $61,870 | $76,170 | $108,860 | >$145K |
| Leather and Allied Product Manufacturing employment: 100 mean earnings: $88,180 | $47,960 | $58,490 | $83,030 | $109,590 | $138,170 |
| Wood Product Manufacturing employment: 1,100 mean earnings: $78,090 | $43,060 | $56,720 | $70,970 | $91,540 | $121,160 |
| Paper Manufacturing employment: 1,690 mean earnings: $93,510 | $56,850 | $68,760 | $85,690 | $109,000 | $144,840 |
| Printing and Related Support Activities employment: 1,890 mean earnings: $90,090 | $50,380 | $63,700 | $81,840 | $104,560 | >$145K |
| Petroleum and Coal Products Manufacturing employment: 380 mean earnings: $110,030 | $52,270 | $69,550 | $98,210 | $143,290 | >$145K |
| Chemical Manufacturing employment: 4,220 mean earnings: $103,160 | $57,660 | $73,950 | $93,180 | $121,920 | >$145K |
| Plastics and Rubber Products Manufacturing employment: 2,210 mean earnings: $87,770 | $50,360 | $63,870 | $81,090 | $102,840 | $137,080 |
| Nonmetallic Mineral Product Manufacturing employment: 1,270 mean earnings: $85,570 | $45,350 | $59,220 | $79,840 | $102,660 | $136,180 |
| Primary Metal Manufacturing employment: 1,370 mean earnings: $91,990 | $53,960 | $67,320 | $85,310 | $109,130 | $141,210 |
| Fabricated Metal Product Manufacturing employment: 5,090 mean earnings: $87,320 | $48,470 | $62,040 | $80,110 | $103,790 | $139,950 |
| Machinery Manufacturing employment: 4,780 mean earnings: $92,410 | $54,300 | $68,630 | $86,180 | $109,120 | $140,990 |
| Computer and Electronic Product Manufacturing employment: 9,420 mean earnings: $107,070 | $62,230 | $79,090 | $100,940 | $129,510 | >$145K |
| Electrical Equipment, Appliance, and Component Manufacturing employment: 1,770 mean earnings: $95,830 | $55,590 | $70,350 | $88,690 | $113,600 | >$145K |
| Transportation Equipment Manufacturing employment: 4,890 mean earnings: $95,160 | $56,970 | $71,420 | $89,680 | $112,470 | $142,240 |
| Furniture and Related Product Manufacturing employment: 1,220 mean earnings: $83,960 | $48,720 | $60,070 | $76,890 | $98,310 | $130,250 |
| Miscellaneous Manufacturing employment: 2,670 mean earnings: $99,190 | $57,070 | $72,790 | $90,950 | $118,170 | >$145K |
| Wholesale Trade employment: 18,900 mean earnings: $97,360 (EC) (def) (IG) | $51,830 | $66,840 | $87,410 | $116,390 | >$145K |
| Merchant Wholesalers, Durable Goods employment: 9,890 mean earnings: $97,470 | $52,680 | $67,390 | $87,230 | $116,270 | >$145K |
| Merchant Wholesalers, Nondurable Goods employment: 6,760 mean earnings: $98,690 | $51,100 | $66,710 | $88,200 | $118,460 | >$145K |
| Wholesale Electronic Markets and Agents and Brokers employment: 2,240 mean earnings: $92,870 | $50,180 | $65,030 | $85,800 | $112,050 | >$145K |
| Retail Trade employment: 16,560 mean earnings: $90,890 (EC) (def) (IG) | $45,320 | $58,920 | $80,560 | $111,840 | >$145K |
| Motor Vehicle and Parts Dealers employment: 9,110 mean earnings: $93,670 | $45,910 | $59,980 | $83,340 | $115,680 | >$145K |
| Furniture and Home Furnishings Stores employment: 670 mean earnings: $84,940 | $44,100 | $55,890 | $75,960 | $101,750 | $143,610 |
| Electronics and Appliance Stores employment: 820 mean earnings: $92,380 | $43,920 | $59,870 | $84,590 | $116,430 | >$145K |
| Building Material and Garden Equipment and Supplies Dealers employment: 1,160 mean earnings: $87,310 | $41,570 | $57,640 | $74,190 | $109,080 | >$145K |
| Food and Beverage Stores employment: 960 mean earnings: $76,660 | $43,280 | $52,350 | $66,790 | $88,370 | $124,160 |
| Health and Personal Care Stores employment: 570 mean earnings: $89,910 | $42,760 | $59,670 | $84,010 | $109,280 | >$145K |
| Gasoline Stations employment: 250 mean earnings: $71,300 | $32,740 | $50,530 | $70,630 | $87,760 | $108,890 |
| Clothing and Clothing Accessories Stores employment: 540 mean earnings: $101,980 | $51,020 | $63,480 | $86,540 | $128,470 | >$145K |
| Sporting Goods, Hobby, Book, and Music Stores employment: 370 mean earnings: $81,030 | $45,870 | $57,050 | $70,490 | $93,540 | $135,960 |
| General Merchandise Stores employment: 130 mean earnings: $114,330 | $67,180 | $83,820 | $107,010 | $137,670 | >$145K |
| Miscellaneous Store Retailers employment: 830 mean earnings: $82,230 | $43,420 | $55,850 | $71,670 | $99,030 | $138,990 |
| Nonstore Retailers employment: 1,160 mean earnings: $93,070 | $49,270 | $64,220 | $83,850 | $111,690 | >$145K |
| Transportation and Warehousing employment: 6,150 mean earnings: $90,690 (EC) (def) (IG) | $48,280 | $63,090 | $83,930 | $108,850 | $145,350 |
| Air Transportation employment: 710 mean earnings: $98,690 | $56,950 | $74,800 | $92,960 | $114,990 | >$145K |
| Rail Transportation employment: 230 mean earnings: $97,870 | $57,430 | $70,420 | $88,730 | $116,740 | >$145K |
| Water Transportation employment: 310 mean earnings: $98,580 | $57,110 | $67,980 | $87,830 | $112,760 | >$145K |
| Truck Transportation employment: 1,680 mean earnings: $82,060 | $45,260 | $55,680 | $73,880 | $97,520 | $131,960 |
| Transit and Ground Passenger Transportation employment: 270 mean earnings: $80,490 | $42,090 | $52,160 | $72,380 | $99,420 | $128,190 |
| Pipeline Transportation employment: 360 mean earnings: $102,040 | $49,800 | $70,430 | $96,490 | $128,500 | >$145K |
| Scenic and Sightseeing Transportation employment: 30 mean earnings: $78,550 | $47,700 | $56,480 | $72,140 | $92,220 | $119,900 |
| Support Activities for Transportation employment: 1,420 mean earnings: $92,560 | $48,970 | $64,030 | $85,890 | $109,480 | >$145K |
| Postal Service employment: 220 mean earnings: $96,110 | $73,660 | $80,090 | $90,800 | $108,990 | $129,870 |
| Couriers and Messengers employment: 230 mean earnings: $99,260 | $57,600 | $73,260 | $92,170 | $115,790 | >$145K |
| Warehousing and Storage employment: 690 mean earnings: $87,770 | $45,330 | $61,590 | $80,860 | $106,400 | $140,120 |
| Information employment: 14,520 mean earnings: $103,450 (EC) (def) (IG) | $58,570 | $73,520 | $95,070 | $124,350 | >$145K |
| Publishing Industries (except Internet) employment: 4,700 mean earnings: $105,110 | $57,850 | $74,510 | $96,270 | $128,490 | >$145K |
| Motion Picture and Sound Recording Industries employment: 1,250 mean earnings: $103,590 | $55,480 | $71,740 | $92,110 | $124,340 | >$145K |
| Broadcasting (except Internet) employment: 1,480 mean earnings: $102,270 | $53,920 | $70,220 | $92,000 | $126,490 | >$145K |
| Internet Publishing and Broadcasting employment: 210 mean earnings: $108,720 | $56,330 | $72,650 | $97,200 | $137,010 | >$145K |
| Telecommunications employment: 3,380 mean earnings: $100,370 | $60,060 | $71,130 | $93,620 | $119,350 | >$145K |
| Internet Service Providers, Web Search Portals, and Data Processing Service employment: 3,390 mean earnings: $103,680 | $60,450 | $76,250 | $96,300 | $121,830 | >$145K |
| Other Information Services employment: 100 mean earnings: $125,010 | $71,290 | $93,880 | $115,290 | >$145K | >$145K |
| Finance and Insurance employment: 150,570 mean earnings: $101,130 (EC) (def) (IG) | $45,970 | $59,660 | $87,330 | $132,330 | >$145K |
| Monetary Authorities - Central Bank employment: 300 mean earnings: $121,210 | $64,000 | $81,010 | $110,190 | >$145K | >$145K |
| Credit Intermediation and Related Activities employment: 96,460 mean earnings: $88,000 | $41,860 | $53,010 | $73,960 | $109,780 | >$145K |
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities employment: 31,320 mean earnings: $135,420 | $62,580 | $88,350 | $132,390 | >$145K | >$145K |
| Insurance Carriers and Related Activities employment: 20,630 mean earnings: $108,620 | $59,940 | $76,600 | $98,300 | $132,100 | >$145K |
| Funds, Trusts, and Other Financial Vehicles employment: 1,860 mean earnings: $118,510 | $61,330 | $79,680 | $107,590 | >$145K | >$145K |
| Real Estate and Rental and Leasing employment: 8,300 mean earnings: $107,970 (EC) (def) (IG) | $53,370 | $70,880 | $96,140 | $137,060 | >$145K |
| Real Estate employment: 6,840 mean earnings: $109,960 | $54,570 | $72,530 | $98,060 | $139,610 | >$145K |
| Rental and Leasing Services employment: 1,220 mean earnings: $96,380 | $48,320 | $62,390 | $87,280 | $118,610 | >$145K |
| Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) employment: 240 mean earnings: $110,580 | $57,980 | $76,700 | $100,640 | $136,990 | >$145K |
| Professional, Scientific, and Technical Services employment: 44,810 mean earnings: $108,570 (EC) (def) (IG) | $57,320 | $74,340 | $97,280 | $135,500 | >$145K |
| Professional, Scientific, and Technical Services employment: 44,810 mean earnings: $108,570 | $57,320 | $74,340 | $97,280 | $135,500 | >$145K |
| Management of Companies and Enterprises employment: 37,340 mean earnings: $109,760 (EC) (def) (IG) | $58,010 | $76,030 | $99,280 | $136,270 | >$145K |
| Management of Companies and Enterprises employment: 37,340 mean earnings: $109,760 | $58,010 | $76,030 | $99,280 | $136,270 | >$145K |
| Administrative and Support and Waste Management and Remediation Services employment: 15,340 mean earnings: $93,170 (EC) (def) (IG) | $45,250 | $60,340 | $83,080 | $115,720 | >$145K |
| Administrative and Support Services employment: 14,630 mean earnings: $93,530 | $45,180 | $60,240 | $83,200 | $116,430 | >$145K |
| Waste Management and Remediation Services employment: 710 mean earnings: $85,840 | $46,960 | $62,220 | $80,900 | $104,660 | $132,730 |
| Educational Services employment: 17,130 mean earnings: $81,110 (EC) (def) (IG) | $44,200 | $57,910 | $76,660 | $97,490 | $123,370 |
| Educational Services employment: 17,130 mean earnings: $81,110 | $44,200 | $57,910 | $76,660 | $97,490 | $123,370 |
| Health Care and Social Assistance employment: 22,730 mean earnings: $82,380 (EC) (def) (IG) | $45,190 | $57,370 | $76,110 | $98,380 | $129,560 |
| Ambulatory Health Care Services employment: 6,490 mean earnings: $83,490 | $46,130 | $58,150 | $76,540 | $100,200 | $132,110 |
| Hospitals employment: 9,150 mean earnings: $89,650 | $51,120 | $64,710 | $83,420 | $106,620 | $139,450 |
| Nursing and Residential Care Facilities employment: 3,110 mean earnings: $76,780 | $41,080 | $52,450 | $69,550 | $90,800 | $120,950 |
| Social Assistance employment: 3,990 mean earnings: $68,230 | $38,070 | $48,440 | $63,190 | $83,120 | $105,830 |
| Arts, Entertainment, and Recreation employment: 3,720 mean earnings: $82,840 (EC) (def) (IG) | $44,630 | $55,540 | $74,840 | $94,750 | $138,710 |
| Performing Arts, Spectator Sports, and Related Industries employment: 1,090 mean earnings: $93,710 | $49,230 | $60,680 | $81,840 | $112,420 | >$145K |
| Museums, Historical Sites, and Similar Institutions employment: 430 mean earnings: $81,740 | $41,750 | $53,700 | $75,360 | $94,200 | $136,210 |
| Amusement, Gambling, and Recreation Industries employment: 2,200 mean earnings: $77,690 | $43,100 | $53,790 | $71,480 | $90,300 | $120,660 |
| Accomodation and Food Service employment: 4,870 mean earnings: $75,480 (EC) (def) (IG) | $40,480 | $52,760 | $68,920 | $90,180 | $116,570 |
| Accommodation employment: 3,170 mean earnings: $77,590 | $42,410 | $55,270 | $71,140 | $91,190 | $118,670 |
| Food Services and Drinking Places employment: 1,700 mean earnings: $71,550 | $36,580 | $49,620 | $64,110 | $87,530 | $113,260 |
| Other Services (except Public Administration) employment: 8,040 mean earnings: $79,690 (EC) (def) (IG) | $42,520 | $54,360 | $72,640 | $95,370 | $129,530 |
| Repair and Maintenance employment: 1,000 mean earnings: $77,680 | $41,760 | $52,240 | $68,350 | $96,260 | $129,630 |
| Personal and Laundry Services employment: 610 mean earnings: $84,570 | $45,020 | $58,400 | $74,080 | $98,150 | >$145K |
| Religious, Grantmaking, Civic, Professional, and Similar Organizations employment: 6,440 mean earnings: $79,540 | $42,420 | $54,470 | $73,110 | $95,070 | $128,300 |
| Federal, State, and Local Government (OES Designation) employment: 35,920 mean earnings: $77,180 (def) (IG) | $40,750 | $57,070 | $76,680 | $96,330 | $114,700 |
| Federal, State, and Local Government (OES Designation) employment: 35,920 mean earnings: $77,180 | $40,750 | $57,070 | $76,680 | $96,330 | $114,700 |
source: Occupational Employment Statistics Program; about these estimates
The (EC) links lead to data from the Economic Census from the Census Bureau.
The (def) links lead to 2002 NAICS industry definitions from the Census Bureau.
The (IG) links lead to Industry at a Glance industry profiles from the Bureau of Labor Statistics.