The Basics of Finance Managers


Financial controls

As the name suggests, financial managers handle everything related to a business’ finances. They analyze spending trends, make sure every financial piece of the business is run according to legal regulations, and help management teams make big decisions that will impact the financial future of the company.

Who needs a financial manager? Quite simply, any growing business that needs someone to keep track of its financial history and also plan for its future can benefit from hiring a financial analyst. More than keeping track of a business’ financial records, finance managers these days also look for ways that the company can cut down on spending and also maximize profits. There are plenty of different subcategories of financial managers, and most managers end up specializing in certain industries (like healthcare or insurance) so that they’re well aware of special legal regulations that only apply to that industry.

How do people gain experience and become financial managers? When college students are figuring out what to study and which types of careers often stem from certain majors, this particular job is one of the more well-known careers for finance majors. In fact, with the amount of new technology used in corporate finance careers today, finding someone with years of experience is sometimes less beneficial than finding someone who understands technology and can easily work with it while learning the basics of the company.

What do financial managers expect in a job? As with many corporate finance careers, financial management jobs tend to come with long hours and periods of high stress — and most people looking into these jobs will already know that. The average salary for a finance manager is around $76,000 per year, but many senior accountants and financial management operators in Canada can earn as much as $100,000 per year.

Most financial managers know that their corporate finance careers are investments for long-term success, but businesses don’t always realize that the opposite is true as well; with a well-trained finance manager, a business can ensure its success for years to come.

Leave a Reply