Financial and Purchasing Management Careers | Financial Manager (General)

Financial Manager (General)

Career Area: Finance

Occupation Group: Financial Managers

Salary

Percentile wages tell how much a certain percentage of an overall population in a geographic area or within a given industry or field makes. The percentile wage estimate is the value of a wage below which a certain percent of workers fall.

An example would be the 25th percentile, 25 percent of workers employed in that occupation earn less and 75 percent earn more than the estimated wage value. At the 75th percentile, 75 percent of workers employed in that occupation earn less and 25 percent earn more than the estimated wage value.

A typical Financial Manager (General) earns the following wages (national and state):

State

The average salary in North Carolina for those pursuing this career is $90,728

*The salaries depicted here are representative of the range of salaries posted in job listings over the past year. Living wage in North Carolina is $30,000.

National

The average salary in the United States for those pursuing this career is $93,772

*The salaries depicted here are representative of the range of salaries posted in job listings over the past year. Living wage in North Carolina is $30,000.

What Does a Professional in this Career Do?

Directs and plans the financial activities of a company or organization. Prepares financial statements and business activity and forecasting reports; supervises accounting and preparation of financial reports; advises management with regard to finance decisions.

Employment Trends

The job demand and job growth statistics shown here were derived from job posts over the past year. Expected job growth projections are extrapolated from year-over-year job post listing history.

Job demand and job growth is expected at the following rates:

LocationGrowth
North Carolina2230+24.2%
Nationwide64976+18.7%

Skills

A professional in this position typically utilizes the following skills in the course of everyday work in this exciting and challenging field:

Baseline Skills

The following are baseline skills every Financial Manager (General) is expected to have in order to experience success in this field:

  • Communication Skills: The ability to convey information to another effectively and efficiently.
  • Planning: Working experience with the process of thinking about and organizing the activities required to achieve desired goals.
  • Microsoft Excel: Microsoft Excel is a spreadsheet developed by Microsoft for Windows, macOS, Android and iOS. It features calculation, graphing tools, pivot tables, and a macro programming language called Visual Basic for Applications.
  • Teamwork / Collaboration: Experience working in collaborative efforts with a team to achieve a common goal or to complete a task in the most effective and efficient way.
  • Detail-Oriented: A detail oriented person is someone who pays attention to the details and can make a conscious effort to understand causes instead of just the effects, and that does this in a second nature type of way.

Specialized Skills

These skills are specific to working in this career:

  • Finance: Finance is a field that deals with the study of investments.
  • Budgeting: Experience planning how the financial resources of a business or department are to be allocated during the next business period.
  • Accounting: Experience maintaining and verifying the business records of a person or business and preparing forms and reports for financial purposes.
  • Financial Reporting: Experience apply GAAP accounting practices to convey the financial performance of a company to the market, its investors, and other stakeholders.
  • Financial Analysis: Financial statement analysis (or financial analysis) is the process of reviewing and analyzing a company's financial statements to make better economic decisions.

Distinguishing Skills

Any Financial Manager (General) that possesses the following skills will stand out against the competition:

  • Balance Sheet: Working experience understanding how a balance sheet in finance I structured, how to analyze it, and how to read it.
  • Financial Operation: The execution of the joint finance mission to provide financial advice and guidance, support of the procurement process, providing pay support, and providing disbursing support.See also financial management.
  • Financial Modeling: Financial modeling is the task of building an abstract representation (a model) of a real world financial situation.
  • Sarbanes-Oxley (SOX): The SarbanesOxley Act of 2002 (Pub.L. 107204, 116 Stat. 745, enacted July 30, 2002), also known as the Public Company Accounting Reform and Investor Protection Act (in the Senate) and Corporate and Auditing Accountability, Responsibility, and Transparency Act (in the House) and more commonly called SarbanesOxley, Sarbox or SOX, is a United States federal law that set new or expanded requirements for all U.S. public company boards, management and public accounting firms.
  • Corporate Finance: Corporate finance is the area of finance dealing with the sources of funding and the capital structure of corporations, the actions that managers take to increase the value of the firm to the shareholders, and the tools and analysis used to allocate financial resources.

Experience

This position typically requires the following level of experience. The numbers presented in the pie charts below were derived from actual job posts over the past year. Not all job postings list experience requirements.

Experience Required%
0 to 2 years15%
3 to 5 years44%
6 to 8 years21%

Many of the programs offered through NC State are designed for working professionals who need additional credentials to enhance existing work experience.

Students who do not have the expected level of experience may wish to look into internship and employment opportunities.

Common Job Titles

It is possible to find work in this field in positions commonly listed as the following job titles:

  • Finance Manager
  • Executive Director
  • Director Of Finance
  • Automotive Finance Manager
  • Finance Director

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