Financial managers

Detailed Occupation

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2020 Workforce

1.24M

Average Age

44.3

Estimated Job Growth

15.5%

10-year projection

Average Salary

$110,066

Average Male Salary

$143,965

Average Female Salary

$82,453

About

Financial managers are most often employed by the Banking & related activities industry. The average yearly wage for Financial managers was $110,066 in 2020.

The locations that employ the most Financial managers are Upper East Side PUMA, NY, Battery Park City, Greenwich Village & Soho PUMA, NY, and Upper West Side & West Side PUMA, NY. The locations with a relatively high concentration of Financial managers are Battery Park City, Greenwich Village & Soho PUMA, NY, Upper East Side PUMA, NY, and Upper West Side & West Side PUMA, NY.

Photo by Ken Teegardin

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

Employment and salary information for the Financial managers workforce. Financial managers workforce in 2020 was 1,236,862 people, of which 55.1% were women and 44.9% were men. Financial managers are paid most in Delano, Wasco & Shafter Cities PUMA, CA but are relatively concentrated in Battery Park City, Greenwich Village & Soho PUMA, NY.

Employment Over Time

Metric

Grouping

555,226

Male Workforce

± 18.3k

681,636

Female Workforce

± 20.2k

The Financial managers workforce in 2020 was 1,236,862 people (55.1% women and 44.9% men). This implies an average annual growth of 15.7% between 2014 (1,068,928) and 2020 (1,236,862).

Employment by Location

Level

Metric

This map shows the states in the United States shaded by average wage for Financial managers.

During 2020, the states that concentrated the best average annual wage were Connecticut ($172,708), New York ($162,924), and New Jersey ($147,332).

Yearly Wage Ranking

$110,066

AVERAGE WAGE

#29 in the ranking (2020)

$55,954

NATIONAL AVERAGE WAGE

For all occupations across the US

In 2020, Financial managers earned an average of $110,066, $54,112 more than the average national salary of $55,954

The graph shows the ranking of Financial managers in relation to all Detailed Occupation in 2020.

Wage Distribution

Gender

0.423

WAGE GINI

In 2020, Financial managers had a wage GINI coefficient of 0.423, which is lower 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).

The graphic shows the distribution of average salaries by buckets for Financial managers compared to the entire workforce in the country.

Industry

Information on the industries that employ Financial managers and on wages 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 Metal ore mining ($242,820).

Occupations by Industries

Metric

Value

1.24M

2020 Workforce

± 27,190

3.56%

1 YEAR GROWTH

± 3.03%

This graphic shows the share of Financial managers employed by various industries. Banking & related activities employs the largest share of Financial managers at 69.8%, followed by Nondepository credit & related activities with 19.4% and Securities, commodities, funds, trusts & other financial investments with 10.8%.

Diversity

Demographic information on Financial managers in the US. The workforce of Financial managers in 2020 was 1,236,862 people, with 55.1% woman, and 44.9% men. The average age of male Financial managers in the workforce is 43.8 and of female Financial managers is 44.7, and the most common race/ethnicity for Financial managers is White.

Gender and Age

Metric

The workforce of Financial managers in 2020 was 1,236,862 people, with 55.1% woman, and 44.9% men.

The age ranges that concentrated the largest workforce were 35 to 39 years (169,356 people), 45 to 49 years (161,504 people), and 40 to 44 years (157,389 people). Among them they concentrated 39.5% of the total workforce.

Ethnicity

Gender

In 2020, 11.9% of Financial managers workers were Hispanic and 88.1% non-Hispanic.

The treemap shows the distribution of Hispanic workers according to their origin, highlighting Mexican (75.2%), Puerto Rican (16.5)%, and Cuban (8.23)%

You can review this information by gender using the selectors above.

Races

In 2020, 77.4% of the Financial managers workforce were White, of which 54.1% were women and 45.9% men. Other races that concentrated a significant number of workers were Black (8.35%) and Asian (7.61%).

Education & Skills

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 the most specialized major according to RCA in 2020 were Business.

Among the necessary skills for Financial managers, Critical Thinking stands, but the revealed comparative advantage (RCA) shows that Financial managers need more than the average amount of Management of Financial Resources.

Majors

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

Type of Majors

Degree

The most common majors achieved by Financial managers in 2020 (counting all academic degrees) were Business (443,605 people), Social Sciences (79,208 people), and Engineering (29,408 people).

You can review this information for different academic grades by modifying the option selected in the selector above.

Education Levels

Metric

The main educational levels achieved by the Financial managers workers were Bachelors Degree (513,347 people), Graduate Degree (262,857 people), and Some college (225,827 people).

The graphic shows the Financial managers workforce by gender and educational level.

Skills

Chart

Value

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, Judgment and Decision Making.

Projections

Projections on job growth for Financial Managers from the Bureau of Labor Statistics. The 10-year national workforce is projected to grow 3.71%, but Financial Managers are expected to see a growth of 15.5% over the same period. This occupation is expected to grow more than the national average.

Job Growth

15.5%

Estimated Job Growth

10-year Projection

3.71%

National Growth

10-year Projection

This line chart shows the projected 10-year growth in the number of jobs for Financial managers. This profession is expected to grow more than than 3.71%, the average rate of national job growth.