Financial managers

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Total Workforce

1.17M

Average Age

44.2

Average Salary

$109,886

Average Male Salary

$143,119

Average Female Salary

$82,432

About

Financial managers are most often employed by the Banking & related activities industry. The average yearly wage for Financial managers was $109,886 in 2016. The top 3 most similar occupations to Financial managers by wage are Magnetic resonance imaging technologists, Aerospace engineers, and Computer hardware engineers.

Financial managers are part of the Management occupations, along with General & operations managers, Advertising & promotions managers, Marketing managers, Sales managers, Public relations and fundraising managers, and 24 more.

The top 3 locations that employ the most Financial managers are Battery Park City, Greenwich Village & Soho PUMA, NY, Upper West Side & West Side PUMA, NY, and Huntersville, Cornelius & Davidson Towns PUMA, NC. The top 3 locations with a relatively high concentration of Financial managers are Battery Park City, Greenwich Village & Soho PUMA, NY, Upper West Side & West Side PUMA, NY, and Huntersville, Cornelius & Davidson Towns PUMA, NC.

Photo by Ken Teegardin

Management occupations Management, business, & financial occupations Management, business, science, & arts occupations

Information on the businesses and industries that employ Financial managers and on wages and locations for those in the field. Banking & related activities is the industry that employs the most Financial managers, both by share and by number, though the highest paid industry for Financial managers, by average wage, is Petroleum refining. Financial managers are paid most in Westchester County (Northeast) PUMA, NY but are relatively concentrated in Battery Park City, Greenwich Village & Soho PUMA, NY.

Wages

Yearly Wage

$109,886

AVERAGE SALARY

± $2,604

In 2018, Financial managers earned an average of $109,886, $55,997 more than than the average national salary of $53,888.

Magnetic resonance imaging technologists make somewhat more than Financial managers while Aerospace engineers make somewhat less. This chart shows the various occupations closest to Financial managers as measured by average annual salary in the US.

Wage Distribution

0.435

WAGE GINI

In 2018, Financial managers had a wage GINI coefficient of 0.435, which is lower than than the national average of 0.479. In other words, wages are distributed more evenly for Financial managers (shown in red) than for the overall labor force (shown in gray).

Wage by Location

HIGHEST PAYING PUMAS

This map shows the Public Use Microdata Areas (PUMAs) in the United States shaded by average annual wage for Financial managers.

Spatial Concentration

PUMAs with a Relatively High Concentration of Financial managers

This map displays which Public Use Microdata Areas (PUMAs) in the United States have a relatively high population of Financial managers.

Industries

Most Common

The most common industries employing Financial managers, by number of employees, are Banking & related activities, Nondepository credit & related activities, and Securities, commodities, funds, trusts & other financial investments.

Highest Paying

The highest paying industries for Financial managers, by average wage, are Internet publishing, broadcasting & web search portals, Petroleum refining, Petroleum refining, Automotive parts, accessories, & tire stores , Pharmaceutical & medicine manufacturing, and Department stores.

Industries by Share

1.17M

2018 Workforce

± 26,461

1.71%

1 YEAR GROWTH

± 3.16%

The number of people employed as Financial managers has been growing at a rate of 1.71%, from 1,151,182 people in 2017 to 1,170,810 people in 2018.

This graphic shows the share of Financial managers employed by various industries. Banking & related activities employs the largest share of Financial managers at 38.6%, followed by Nondepository credit & related activities with 10.7% and Securities, commodities, funds, trusts & other financial investments with 5.83%.

Diversity

Demographic information on Financial managers in the US. The average age of male Financial managers in the workforce is 43.5 and of female Financial managers is 44.8, and the most common race/ethnicity for Financial managers is White (Non-Hispanic).

Gender Composition

530k

MALE WORKFORCE

± 17,836

641k

FEMALE WORKFORCE

± 19,617

54.8% of Financial managers are Female, making them the more common gender in the occupation. This chart shows the gender breakdown of Financial managers.

Race & Ethnicity

Most Common Race or Ethnicity of Financial managers

White (Non-Hispanic)
White (Hispanic)
Asian (Non-Hispanic)

71% of Financial managers are White (Non-Hispanic), making that the most common race or ethnicity in the occupation. Representing 8.73% of Financial managers, White (Hispanic) is the second most common race or ethnicity in this occupation. This chart shows the racial and ethnic breakdown of Financial managers.

Age by Gender

43.5

AVERAGE MALE AGE

± 0.409

44.8

AVERAGE FEMALE AGE

± 0.366

The median age of Financial managers is 44.2, and Male employees are generally 1.32 years younger than than their Female counterparts.

Education

Data on higher education choices for Financial managers from The Department of Education and Census Bureau. The most common major for Financial managers is Business but a relatively high number of Financial managers hold a major in Business.

Majors

ACS PUMS data only shows the major for bachelor's degree-majorss. However, we can filter the data based on highest degree-majors obtained.

MOST COMMON MAJORS

MOST SPECIALIZED MAJORS

Skills

Data on the critical and distinctive skills necessary for Financial managers from the Bureau of Labor Statistics. Financial managers need many skills, but most especially Management of Financial Resources, Critical Thinking, and Judgment and Decision Making. The revealed comparative advantage (RCA) shows that Financial managers need more than the average amount of Management of Financial Resources, Management of Personnel Resources, and Persuasion.