Financial Manager: Job Duties, Skills and Salary 2025

What Does a Financial Manager do?

A Financial Manager is responsible for overseeing the financial health of an organization. They develop strategies and plans for the long-term financial goals of their company. The role involves supervising financial department staff, reviewing company financial reports, guiding investment activities, and executing capital-raising strategies to support the firm's expansion and growth. Financial Managers also manage the organization's budgets, prepare financial forecasts, and oversee the preparation of all financial reporting. They ensure that the company adheres to legal and industry regulations concerning financial practices. In their strategic role, they analyze market trends to find opportunities for expansion or for acquiring other companies, as well as advise on ways to minimize financial risk.

The Financial Manager plays a crucial role in the sustainability and profitability of the organization, providing financial insight and guidance on all company decisions and issues.

Key Duties & Responsibilities

Financial Managers in the Finance field handle essential tasks and contribute significantly to achieving team and organizational goals. Here are some of their primary responsibilities:

• Develop financial strategies by forecasting capital, facilities, and staff requirements, identifying monetary resources, and developing action plans.
• Monitor financial status by comparing and analyzing actual results with plans and forecasts, and revising them when necessary.
• Maximize return on invested funds by identifying investment opportunities and maintaining relationships with the investment community.
• Report financial status by developing forecasts, reporting results, analyzing variances, and developing improvements.
• Ensure compliance with federal, state, and local legal requirements by studying existing and new legislation, anticipating future legislation, enforcing adherence to requirements, filing financial reports, and advising management on needed actions.
• Manage budget and control expenses effectively.
• Hire, train, and retain skilled finance staff.
• Improve financial status by analyzing results and variances; identifying trends; recommending actions.

How to Become a Financial Manager

Launching a career as a Financial Manager requires a specific education. We outline the essential qualifications, skills, and steps to enter this field.

Qualification

• Bachelor’s degree in Finance, Accounting, Economics, or Business Administration; Master’s degree or professional certification (such as CPA or CFA) preferred.
• Significant experience in a financial management role with progressive responsibility.
• Strong understanding of Generally Accepted Accounting Principles (GAAP).
• Experience with financial reporting requirements, including external audit and tax filings.
• Proven record of effective team management and results-driven leadership.

Requirements & Skills

• Excellent analytical, decision-making, and problem-solving skills.
• Strong leadership and organizational abilities.
• Superb written and verbal communication skills.
• Highly proficient in financial management software and databases.
• Ability to motivate and lead financial team members.

Financial Manager Salary Guide

Wondering what Financial Managers earn? Explore salary ranges by experience, and career tips to maximize your earning potential.

The average salary for a Financial Manager in the U.S. is approximately $128,000 per year and can vary from entry-level to senior positions. Financial Managers may receive a wide range of benefits.

Financial Manager Salary Career Steps