Financial Managers
Overview
Salary
Demand
Core Tasks
Technology Skills
Tools Used
Top 10 Knowledge Required
Top 10 Skills
Top 10 Abilities
Top 10 Work Activities
Detailed Work Activities
Majors
Interests
Top 10 Work Styles
Work Values
Related Careers
Overview
Job Zone Four: Considerable Preparation Needed
Experience
A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
Education
Most of these occupations require a four-year bachelor's degree, but some do not.
Job Training
Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Examples
Many of these occupations involve coordinating, supervising, managing, or training others. Examples include real estate brokers, sales managers, database administrators, graphic designers, chemists, art directors, and cost estimators.
Plan, direct, or coordinate accounting, investing, banking, insurance, securities, and other financial activities of a branch, office, or department of an establishment.
Salary Salary
Salary at 10th Percentile: $70K
Salary at 25th Percentile: $95K
Median Salary: $134K
Salary at 75th Percentile: $186K
Salary at 90th Percentile: $208K
Demand
Core Tasks
Examine, evaluate, or process loan applications.
Approve, reject, or coordinate the approval or rejection of lines of credit or commercial, real estate, or personal loans.
Establish and maintain relationships with individual or business customers or provide assistance with problems these customers may encounter.
Plan, direct, or coordinate the activities of workers in branches, offices, or departments of establishments, such as branch banks, brokerage firms, risk and insurance departments, or credit departments.
Oversee the flow of cash or financial instruments.
Prepare financial or regulatory reports required by laws, regulations, or boards of directors.
Develop or analyze information to assess the current or future financial status of firms.
Communicate with stockholders or other investors to provide information or to raise capital.
Recruit staff members.
Evaluate financial reporting systems, accounting or collection procedures, or investment activities and make recommendations for changes to procedures, operating systems, budgets, or other financial control functions.
Prepare operational or risk reports for management analysis.
Analyze and classify risks and investments to determine their potential impacts on companies.
Network within communities to find and attract new business.
Review collection reports to determine the status of collections and the amounts of outstanding balances.
Evaluate data pertaining to costs to plan budgets.
Oversee training programs.
Establish procedures for custody or control of assets, records, loan collateral, or securities to ensure safekeeping.
Plan, direct, and coordinate risk and insurance programs of establishments to control risks and losses.
Direct insurance negotiations, select insurance brokers or carriers, and place insurance.
Review reports of securities transactions or price lists to analyze market conditions.
Submit delinquent accounts to attorneys or outside agencies for collection.
Technology Skills
Technology
Example
Hot Technology
Tools Used
Tool
Example
Top 10 Knowledge Required
Economics and Accounting
80%
Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
Administration and Management
79%
Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
Mathematics
73%
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Customer and Personal Service
72%
Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
English Language
67%
Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
Sales and Marketing
63%
Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
Law and Government
62%
Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
Clerical
59%
Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
Personnel and Human Resources
57%
Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
Computers and Electronics
56%
Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
Top 10 Skills
Active Listening
80%
Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Critical Thinking
80%
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Monitoring
80%
Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
Reading Comprehension
80%
Understanding written sentences and paragraphs in work related documents.
Speaking
80%
Talking to others to convey information effectively.
Judgment and Decision Making
78%
Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Writing
78%
Communicating effectively in writing as appropriate for the needs of the audience.
Active Learning
75%
Understanding the implications of new information for both current and future problem-solving and decision-making.
Complex Problem Solving
75%
Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
Coordination
75%
Adjusting actions in relation to others' actions.
Top 10 Abilities
Oral Expression
83%
The ability to communicate information and ideas in speaking so others will understand.
Deductive Reasoning
80%
The ability to apply general rules to specific problems to produce answers that make sense.
Oral Comprehension
80%
The ability to listen to and understand information and ideas presented through spoken words and sentences.
Problem Sensitivity
80%
The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
Speech Clarity
80%
The ability to speak clearly so others can understand you.
Speech Recognition
80%
The ability to identify and understand the speech of another person.
Written Comprehension
80%
The ability to read and understand information and ideas presented in writing.
Inductive Reasoning
78%
The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
Near Vision
78%
The ability to see details at close range (within a few feet of the observer).
Written Expression
78%
The ability to communicate information and ideas in writing so others will understand.
Top 10 Work Activities
Interacting With Computers
89%
Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
Communicating with Supervisors, Peers, or Subordinates
84%
Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
Coaching and Developing Others
82%
Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.
Guiding, Directing, and Motivating Subordinates
82%
Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.
Establishing and Maintaining Interpersonal Relationships
81%
Developing constructive and cooperative working relationships with others, and maintaining them over time.
Monitor Processes, Materials, or Surroundings
81%
Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.
Evaluating Information to Determine Compliance with Standards
79%
Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
Organizing, Planning, and Prioritizing Work
79%
Developing specific goals and plans to prioritize, organize, and accomplish your work.
Analyzing Data or Information
77%
Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
Coordinating the Work and Activities of Others
77%
Getting members of a group to work together to accomplish tasks.
Detailed Work Activities
Establish interpersonal business relationships to facilitate work activities.
Supervise employees.
Direct financial operations.
Recruit personnel.
Prepare operational progress or status reports.
Analyze financial records to improve budgeting or planning.
Direct organizational operations, projects, or services.
Approve expenditures.
Monitor flow of cash or other resources.
Prepare financial documents, reports, or budgets.
Prepare reports related to compliance matters.
Maintain regulatory or compliance documentation.
Analyze forecasting data to improve business decisions.
Communicate organizational information to customers or other stakeholders.
Analyze financial records to improve efficiency.
Recommend organizational process or policy changes.
Analyze risks to minimize losses or damages.
Analyze financial records or reports to determine state of operations.
Determine pricing or monetary policies.
Develop operating strategies, plans, or procedures.
Negotiate sales or lease agreements for products or services.
Coordinate operational activities with external stakeholders.
Majors
Major
Interests
Enterprising
100%
Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
Conventional
72%
Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
Social
48%
Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.
Investigative
24%
Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.
Realistic
24%
Realistic occupations frequently involve work activities that include practical, hands-on problems and solutions. They often deal with plants, animals, and real-world materials like wood, tools, and machinery. Many of the occupations require working outside, and do not involve a lot of paperwork or working closely with others.
Artistic
19%
Artistic occupations frequently involve working with forms, designs and patterns. They often require self-expression and the work can be done without following a clear set of rules.
Top 10 Work Styles
Dependability
95%
Job requires being reliable, responsible, and dependable, and fulfilling obligations.
Integrity
95%
Job requires being honest and ethical.
Attention to Detail
93%
Job requires being careful about detail and thorough in completing work tasks.
Achievement/Effort
89%
Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
Persistence
89%
Job requires persistence in the face of obstacles.
Leadership
88%
Job requires a willingness to lead, take charge, and offer opinions and direction.
Adaptability/Flexibility
87%
Job requires being open to change (positive or negative) and to considerable variety in the workplace.
Initiative
86%
Job requires a willingness to take on responsibilities and challenges.
Stress Tolerance
85%
Job requires accepting criticism and dealing calmly and effectively with high stress situations.
Cooperation
84%
Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
Work Values
Independence
86%
Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
Working Conditions
86%
Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.
Recognition
81%
Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious. Corresponding needs are Advancement, Authority, Recognition and Social Status.
Achievement
77%
Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.
Relationships
72%
Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.
Support
72%
Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.
