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Job Description of a Financial Manager

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    Duties

    • Financial managers instigate budgetary planning. This may entail examining revenue; predicting dips, advancements or opportunities; and creating long- and short-term financial strategies. These managers pay attention to trends and competitors and search for new revenue streams to make up deficits. Managers also delegate to a financial staff and make sure practices comply with legal guidelines.

    Skills

    • Financial managers must chiefly posses strong math, problem-solving and critical-thinking skills. Managers must be good at coordination, particularly if the position involves many different departments. Systems evaluation skills are useful in a manager's research and implementation duties.

    Educational Requirements

    • Financial managers must have at least a bachelor's degree. Many employers prefer to hire a manager who has a master's degree in economics, finance or business administration. To most employers, experience is also an important factor in the hiring process.

    Work Environment

    • Financial managers usually work in an office during traditional business hours, within the financial department and near other departments they interact with. The job may entail travel if the company has multiple branches or locations.

    Salary

    • The Bureau of Labor Statistics reports that in May 2008 the median salary for financial managers was $99,330. Many financial managers receive an additional performance-based bonus at the end of the fiscal year.

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