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

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 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.

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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).

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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

1.17M

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%.

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Diversity

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

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.

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Race & Ethnicity

Most Common Race or Ethnicity of Financial managers

  1. White

  2. Black

  3. Asian

79.7% of Financial managers are White, making that the most common race or ethnicity in the occupation. Representing 7.79% of Financial managers, Black 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

43.5

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.

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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.

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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 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.

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