Financial managers

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2019 Workforce
1.31M
Average Age
44.5
Estimated Job Growth
18.7%
10-year projection
Average Salary
$107,270
Average Male Salary
$139,386
Average Female Salary
$82,344

Employment

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 Soap, cleaning compound, & cosmetics manufacturing . Financial managers are paid most in Westchester County (Northeast) PUMA, NY but are relatively concentrated in Miami City (East) & Key Biscayne Village PUMA, FL.

Wages

Yearly Wage

$107,270
AVERAGE SALARY
± $2,307

In 2019, Financial managers earned an average of $107,270, $51,746 more than than the average national salary of $55,524.

Electrical & electronics engineers make somewhat more than Financial managers while Information security analysts make somewhat less. This chart shows the various occupations closest to Financial managers as measured by average annual salary in the US.

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Wage Distribution

0.44
WAGE GINI

In 2015, Financial managers had a wage GINI coefficient of 0.44, which is lower than than the national average of 0.478. In other words, wages are distributed more evenly for Financial managers (shown in red) than for the overall labor force (shown in gray).

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Wage by Location

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

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Spatial Concentration

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

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Industries

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Industries by Share

1.31M
2019 Workforce
± 28,002
12.1%
1 YEAR GROWTH
± 2.77%

The number of people employed as Financial managers has been growing at a rate of 12.1%, from 1,170,810 people in 2018 to 1,312,185 people in 2019.

This graphic shows the share of Financial managers employed by various industries. Banking & related activities employs the largest share of Financial managers at  37%, followed by Nondepository credit & related activities with 9.84% and Securities, commodities, funds, trusts & other financial investments with 5.18%.

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Diversity

Demographic information on Financial managers in the US. The average age of male Financial managers in the workforce is 43.9 and of female Financial managers is 44.9, and the most common race/ethnicity for Financial managers is White (Non-Hispanic).

Gender Composition

573k
MALE WORKFORCE
± 18,556
739k
FEMALE WORKFORCE
± 21,051

56.3% of Financial managers are Female, making them the more common gender in the occupation. This chart shows the gender breakdown of Financial managers.

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Race & Ethnicity

Most Common Race or Ethnicity of Financial managers
  1. White (Non-Hispanic)
  2. White (Hispanic)
  3. Black (Non-Hispanic)

69.7% of Financial managers are White (Non-Hispanic), making that the most common race or ethnicity in the occupation. Representing 8.98% 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.

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Age by Gender

43.9
AVERAGE MALE AGE
± 0.404
44.9
AVERAGE FEMALE AGE
± 0.349

The median age of Financial managers is 44.5, and Male employees are generally 0.981 years younger than than their Female counterparts.

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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 degrees. However, we can filter the data based on highest degree obtained.
MOST SPECIALIZED MAJORS
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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 Critical Thinking, Monitoring, 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 Material Resources, and Operations Analysis.

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Growth Projections

Projections on wages and job growth for Financial managers from the Bureau of Labor Statistics. The ten-year national workforce is projected to grow 6.85%, but Financial managers are expected to see a growth of 18.7% over the same period. This occupation is expected to grow higher than the national average.

Job Growth

18.7%
ESTIMATED GROWTH
6.85%
NATIONAL AVERAGE

This line chart shows the 10-year projected employment growth (from 2018 to 2028) for Financial managers. This profession is expected to grow faster than 6.85%, the average rate of national job growth.

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