Is financial manager a stable job? (2024)

Is financial manager a stable job?

A Higher-Than-Average Salary

Finance degree jobs can provide relatively high pay, stability, opportunities for advancement and consistent demand projections. Careers in finance may also offer flexibility for employees by allowing them to work remotely or in hybrid environments.

There is Excellent Income Potential

Financial managers enjoy an excellent income. According to the Bureau of Labor Statistics (BLS), financial managers earn a median annual salary of $134,180. But that's not the complete story. Top-earning financial managers make more than $200,000 per year.

The role demands meticulous attention to detail, adherence to tight deadlines, and management of complex financial operations, which can be inherently stressful.

With a median salary of over $139,000, plenty of opportunities for advancement, average stress levels, and above average work/life balance due to flexible working arrangements, financial managers are some of the most satisfied workers in the U.S.

Financial careers often involve high barriers to entry, stiff competition among applicants, and a lot of stress. Still, these jobs offer numerous perks, including a challenging work environment, interaction with highly motivated and intelligent colleagues, opportunities for advancement, and excellent pay.

Many sectors employ financial managers, including securities, commodity contracts, insurance and banking, and manufacturing. Financial managers work full time, with some professionals working more than 40 hours a week.

While ZipRecruiter is seeing salaries as high as $166,788 and as low as $41,450, the majority of Entry Level Finance Manager salaries currently range between $93,300 (25th percentile) to $165,800 (75th percentile) with top earners (90th percentile) making $165,800 annually in California.

Financial managers score highly on extraversion, meaning that they rely on external stimuli to be happy, such as people or exciting surroundings. They also tend to be high on the measure of conscientiousness, which means that they are methodical, reliable, and generally plan out things in advance.

What is the hardest finance job to get?

1. Investment Banker. Roles in investing banking are highly sought after. For investment bankers, it's often a higher competition to land a role in one of the largest firms.

A financial manager's annual median salary exceeds 100,000, according to the U.S. Bureau of Labor Statistics (BLS). The BLS also projects 17% job growth between 2020 and 2030.

Job Outlook

Employment of financial managers is projected to grow 16 percent from 2022 to 2032, much faster than the average for all occupations. About 69,600 openings for financial managers are projected each year, on average, over the decade.

Financial managers face a competitive job market. Those who can handle international finance and the increasingly complicated world of financial instruments and securities, including derivatives, will be the most marketable to employers.

If you like collaborating with a diverse array of people in an organization, then this just may be the role for you. Financial managers work with everyone from senior leadership to entry-level analysts and accountants. They also often manage a team of people who conduct financial reporting and budgeting.

1. Wood patternmaker. What they do: Being a wood patternmaker is the rarest job in the world. Wood patternmakers create wooden molds that are used by metalworkers to cast molten metal.

📈 According to a study by the Myers-Briggs Company, introverts make up 56.8% of financial professionals, while extroverts make up 43.2%. This means that there are plenty of introverted financial professionals out there who have achieved success in their field.

Can working in finance be fun?

Some people enjoy the challenging and dynamic work of many finance occupations while others may find it to be stressful. “You have to be able to multitask.

Finance Salary in California. $74,000 is the 25th percentile. Salaries below this are outliers. $107,600 is the 75th percentile.

Financial managers perform data analysis and advise senior managers on profit-maximizing ideas. Financial managers are responsible for the financial health of an organization. They create financial reports, direct investment activities, and develop plans for the long-term financial goals of their organization.

An Industry in Crisis

According to a recent article from GoingConcern, a resource for accountants, 95% of hiring managers in finance and accounting face difficulty locating skilled talent available for hire.

Experienced financial managers can advance to become chief financial officers (CFOs). These executives are responsible for the accuracy of an entire companys or organizations financial reporting.