You may have heard of financial managers. But in true sense, do you have any idea of what they are actually doing or what they are really capable of? First of all, financial managers are in charge of supervising finances of agencies, major companies and everything in between. Together with their teams, they are coordinating procedure and accounting financial reports, profit projections as well as cash-flow statements.
The Life of a Financial Manager
In an effort to meet with varying regulations and laws, most of the financial managers have keen attention to detail. In addition to working with numbers, financial managers are providing assistance to other members of their org to better understand complex reports they have submitted as this is something that demands serious communication skills. These professionals, aside from being good with managing money, they’re good in checking indicators too that is why some of their clients are assigning them to check mt4 indicators and see where the market trend would go.
Believe it or not, there is a fierce competition in the job market for financial managers. Those who are capable of handling international finance alongside the ever-growing complexity of financial securities and instruments including derivatives would be more marketable among employers.
As a matter of fact, the Bureau of labor Statistics projected a 16 percent growth in employment for financial managers between 2018 and 2028. In such time, there’s an estimated of 104,700 jobs that would be created.
How much Financial Managers make per Annum?
Knowing that financial managers are highly sought-after by major companies and organizations, many of you would assume that they have high compensation. Basically, the lowest paid financial managers are making $91,420 a year, while the highest generates $178, 840 a year while those who are in the median are ranging from $127,990 per annum.
Becoming a Financial Manager
In most cases, financial managers start by securing a bachelor’s degree in any of the following:
- Finance or
- Business administration
Then some are pursuing a master’s degree and continue with acquiring financial management training both on and off the job. In this field, it is very common to be licensed and certified. This is due to the reason that many of the financial managers are assigned of overseeing other financial related tasks.
It is a common seen to see financial managers starting in entry-level position at known banks or any large organizations. Those who have shown exceptional performance typically move up to the corporate ladder and become managers, which they take more financial oversight duties and responsibilities.