Top Skills for This Career
BLS identifies these as the three highest-rated skills for this detailed occupation. TrustInEd adds the plain-language explanations so visitors understand what each skill means.
Guiding people or projects, setting direction, taking responsibility, and helping others succeed.
Adjusting effectively when priorities, conditions, tools, or expectations change.
Identifying problems, considering possible solutions, and choosing appropriate actions.
How Do You Prepare for This Career?
BLS describes the typical preparation for this occupation. Requirements can vary by employer, state, licensing rules and individual circumstances.
How to Become One
How to Become a Financial Manager Financial managers usually have experience in another business or financial occupation such as a loan officer, accountant, auditor, securities sales agent, or financial analyst. Financial managers typically need a bachelor’s degree and 5 years or more of experience in another business or financial occupation, such as an accountant, securities sales agent, or financial analyst.
Education
Financial managers typically need at least a bachelor's degree in business, economics, or a related field. These disciplines help students learn analytical skills and methods.
Training
to help prepare motivated, skilled financial workers to become managers. Advancement Experienced financial managers may advance to become chief financial officers (CFOs). These executives are responsible for the accuracy of an organization’s financial reporting.
Licenses, Certifications & Registrations
Although it is not required, professional certification indicates competence for financial managers who have it. To earn certification, candidates must have a bachelor’s degree from an accredited college or university, pass examinations, and have professional-level experience in government financial management. To keep the certification, financial managers must complete continuing professional education. Information on certifications is available from CareerOneStop. Certified public accountants (CPAs) are licensed by their state’s board of accountancy and must pass an exam. Information on state licensing board requirements is available from CareerOneStop. Work Experience in a Related Occupation Financial managers usually have experience in another business or financial occupation. For example, they may have worked as a loan officer, accountant, securities sales agent, or financial analyst. In some cases, companies provide management
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Pay
the median annual wage for all workers was $50,980.
Job Outlook
Job Outlook Employment of financial managers is projected to grow 10 percent from 2025 to 2035, much faster than the average for all occupations. About 65,600 openings for financial managers are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire. Employment Services provided by financial managers, such as planning, directing, and coordinating investments, are likely to stay in demand as the economy grows. In addition, several specialties within financial management, such as cash management and risk management, are expected to be in high demand over the decade. There has been an increased emphasis on risk management within the financial industry, and this trend is expected to continue. Banking institutions are expected to emphasize stability and managing risk over profits. This emphasis is expected to lead to employment growth for risk managers. Financial Managers Percent change in employment, projected 2025–35 Financial managers 10% Operations specialties managers 9% Total, all occupations 3% Note: All Occupations includes all occupations in the U.S. Economy.
What They Do
What Financial Managers Do
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.
Duties
Financial managers typically do the following:
- Prepare financial statements, business activity reports, and forecasts
- Monitor financial details to ensure that legal requirements are met
- Supervise employees who do financial reporting and budgeting
- Review financial reports and seek ways to reduce costs
- Analyze market trends to maximize profits and find expansion opportunities
- Help management make financial decisions
Financial managers spend much of their time analyzing data and advising senior managers on ways to maximize profits. They often work on teams, acting as advisors to top executives.
Financial managers must have knowledge of the topics, tax laws, and regulations that are specific to their organization or industry. For example, government financial managers must be experts on appropriations and budgeting processes; healthcare financial managers must understand billing, reimbursement, and other business matters related to healthcare.
The following are examples of types of financial managers:
Controllers direct the preparation of financial reports that summarize and forecast an organization’s financial position. These reports may include income statements, balance sheets, and analyses of future earnings or expenses. Controllers also are in charge of preparing reports required by governmental agencies that regulate businesses. Often, controllers oversee the accounting, audit, and budget departments of their organization.
Treasurers and finance officers direct an organization’s budgets to meet its financial goals. They oversee investments and other plans to raise capital, such as issuing stocks or bonds, to support their organization’s growth. They also develop financial plans for mergers (two companies joining together) and acquisitions (one company buying another).
Credit managers oversee an organization’s credit business. They set credit-rating standards, determine credit limits, and monitor the collections of past-due accounts.
Cash managers monitor and control the flow of money into and out of an organization to meet business and investment needs. For example, they must project whether the organization will have a shortage or surplus of cash.
Risk managers use strategies to limit or offset an organization’s chance of financial loss or exposure to financial uncertainty. Among the risks they try to limit are those arising from currency or commodity price changes.
Insurance managers decide how to limit an organization’s losses by protecting against risks, such as for disability payments to an employee who gets hurt on the job or for costs imposed by a lawsuit against the organization.
Work Environment
Work Environment
Financial managers held about 879,700 jobs in 2025. The largest employers of financial managers were as follows:
| Finance and insurance | 32% |
| Professional, scientific, and technical services | 14 |
| Management of companies and enterprises | 10 |
| Government, excluding state and local education and hospitals | 6 |
| Manufacturing | 5 |
Financial managers work closely with top executives and with departments that develop data needed for analysis.
Work Schedules
Most financial managers work full time, and some work more than 40 hours per week.
Important Qualities
The following are examples of qualities that are important for these workers to perform their duties. For more information, visit the Employment Projections (EP) skills data page. Analytical skills. To assist executives in making decisions, financial managers need to evaluate data and information that affects their organization. Communication skills. Financial managers must be able to explain and justify complex financial transactions. Detail oriented. In preparing and analyzing reports, such as balance sheets and income statements, financial managers must be precise and attentive to their work in order to avoid errors. Math skills. Financial managers need strong skills in certain branches of mathematics, including algebra. Ability to understand international finance and complex financial documents also is important. Organizational skills. Because financial managers deal with a range of information and documents, they must have structures in place to be effective in their work.
More Information
More Information, Including Links to O*NET
Learn more about financial managers by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
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Start with ED →Career data and occupational profile text are sourced from the U.S. Bureau of Labor Statistics Occupational Outlook Handbook and Employment Projections program. Education requirements are typical entry-level requirements and may vary by employer, state, occupation or individual circumstance. View the official BLS profile.