FINANCIAL MANAGERS direct the financial affairs of a company. They oversee the preparation of financial reports and make sure that the firm meets its tax obligations. They direct investment activities and implement cash management strategies. They oversee cash flow and financial instruments, monitor extension of credit, assess the risk of transactions, and raise capital. They analyze investments, assess the financial status of the firm, and communicate with stockholders and other investors. In small firms, chief financial officers usually handle all financial management functions.
Salary, Size & Growth
- $90,000 average per year ($43.25 per hour)
- A large occupation (478,900 workers in 2010)
- Expected to grow moderately (0.8% per year)
Although a bachelor's degree in finance, accounting, economics, or business administration is the minimum preparation for FINANCIAL MANAGERS, employers prefer to hire those with a master's degree in finance, business administration, economics, or risk management. These programs develop analytical skills, and provide knowledge of the latest financial analysis methods, and information and technology management techniques widely used in this field. Continuing education is vital to keep up with new financial instruments, and changing laws and regulations.
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