What does a financial manager do? Duties, pay, education and outlook
Financial managers are responsible for the financial health of an organization, from reports and forecasts to cost reviews. A bachelor's degree plus 5 or more years of related experience is typical. BLS reports a median pay of $166,570 per year (May 2025).
At a glance
| Item | Detail |
|---|---|
| SOC code | 11-3031 |
| O*NET code | 11-3031.00 |
| Typical entry education | Bachelor's degree |
| Median annual wage | $166,570 per year (May 2025) |
| Projected growth | 10 percent (much faster than average), 2025 to 2035 |
| Number of jobs | 879,700 (2025) |
Source: BLS Occupational Outlook Handbook, accessed 31 October 2026.
What does a financial manager do?
BLS says financial managers prepare financial statements, business activity reports and forecasts, monitor financial details to ensure legal requirements are met, supervise employees who do financial reporting and budgeting, review financial reports and look for ways to reduce costs, analyze market trends to maximize profits and help management make financial decisions.
Work environment
Financial managers work in many industries, including banks, investment firms and insurance companies. Finance and insurance employ 32 percent, professional, scientific and technical services 14 percent, management of companies and enterprises 10 percent and government 6 percent.
Education, training and licensing
BLS says a bachelor's degree in business, economics or a related field is typical, and BLS lists 5 years or more of related work experience. Professional certification is optional, and certified public accountants must be licensed by their state board of accountancy.
Skills that matter
BLS lists analytical skills, communication, attention to detail, math skills and organizational skills as important qualities for this work.
How much does a financial manager make?
BLS reports a median annual wage of $166,570 for financial managers (May 2025). The median is the wage at which half of workers earned more and half earned less. See the OOH pay tab and the OEWS data for your area. Our guide to researching pay explains how to read the figures.
Job outlook
BLS projects employment of financial managers to grow 10 percent from 2025 to 2035, which BLS labels much faster than average. For comparison, BLS projects 3 percent growth for all occupations over the same period. About 65,600 openings are projected each year on average.
How to get hired
- Plan a path through analyst or accountant roles, since employers look for years of related experience.
- Show results on your resume: the tools you used, the volume you handled and the outcomes, without private customer or employer details.
- If you lack experience, see the no-experience resume guide.
- Practice with the interview prep hub.
When you are ready, search jobs on LiveRec.
Related occupations
Accountants and auditors, Budget analysts, Financial analysts, Loan officers, Personal financial advisors.
Frequently asked questions
How much experience do financial managers need? BLS lists 5 years or more of related work experience, along with a bachelor's degree in business, economics or a related field.
Is certification required? No. BLS says professional certification is optional, though CPAs must be licensed by their state board of accountancy.
How much do financial managers make? BLS reports a median annual wage of $166,570 for financial managers (May 2025). Half of workers earned more and half earned less. Pay varies by employer, region and experience.
Is financial manager a good career? BLS projects 10 percent growth from 2025 to 2035 (much faster than average). About 65,600 openings are projected each year. Whether it fits you depends on the work itself, so read the duties and work environment above.
Related guides
- What Does an Accountant Do? Duties, Pay, Outlook
- What Does a Budget Analyst Do? Duties, Pay, Outlook
- Financial Analyst: Duties, Pay, Education, Outlook
- What Does a Loan Officer Do? Duties, Pay, Outlook
Sources
- U.S. Bureau of Labor Statistics, Occupational Outlook Handbook, Financial managers: https://www.bls.gov/ooh/management/financial-managers.htm (accessed 31 October 2026)
- U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics: https://www.bls.gov/oes/ (accessed 31 October 2026)
- O*NET OnLine, 11-3031.00: https://www.onetonline.org/link/summary/11-3031.00 (accessed 31 October 2026)
This is general information, not legal, tax or immigration advice. Rules change and your situation may differ. Consult a licensed attorney or qualified adviser.