The average annual salary for a finance manager is $110,096.
How Does Tenure Impact Salary?
Years of Experience
Average Salary Range
0-2 years
$85,000 – $100,000
3-6 years
$105,000 – $140,000
7-10 years
$120,000 – $160,000+
10+ years
$140,000 – $180,000+
0-2 years
Average Salary Range
$85,000 – $100,000
3-6 years
Average Salary Range
$105,000 – $140,000
7-10 years
Average Salary Range
$120,000 – $160,000+
10+ years
Average Salary Range
$140,000 – $180,000+
Which Industries Pay Finance Managers the Most?
Industry
Average Salary Range
Why High Paying?
Technology
$120,000 – $160,000+
Technology companies are often high-growth with complex financial structures. Financial managers in this industry may require specialized skills in areas like intellectual property valuation or revenue recognition for software products. These specialized skills and the fast-paced nature of the industry can contribute to higher salaries.
Financial Services
$115,000 – $150,000+
Financial services firms deal with large sums of money and have strict regulations. Finance managers in this industry need a strong understanding of financial regulations and risk management. These specialized skills and the demanding environment can lead to premium salaries.
Healthcare
$110,000 – $140,000+
The healthcare industry is undergoing significant changes, and finance managers play a crucial role in managing costs and ensuring profitability. They may need expertise in areas like healthcare reimbursement and revenue cycle management. These specialized skills, coupled with the complex nature of the industry, can result in higher compensation.
Energy
$105,000 – $145,000+
Energy companies often have complex financial structures and manage volatile commodity prices. Finance managers in this industry may need expertise in areas like project finance and risk management. These specialized skillsets can be reflected in higher salaries.
Manufacturing
$100,000 – $135,000+
Manufacturing companies often have complex supply chains and inventory management needs. Finance managers with expertise in cost accounting and budgeting for production can be highly sought after and command competitive salaries.
Technology
Average Salary Range
$120,000 – $160,000+
Why High Paying?
Technology companies are often high-growth with complex financial structures. Financial managers in this industry may require specialized skills in areas like intellectual property valuation or revenue recognition for software products. These specialized skills and the fast-paced nature of the industry can contribute to higher salaries.
Financial Services
Average Salary Range
$115,000 – $150,000+
Why High Paying?
Financial services firms deal with large sums of money and have strict regulations. Finance managers in this industry need a strong understanding of financial regulations and risk management. These specialized skills and the demanding environment can lead to premium salaries.
Healthcare
Average Salary Range
$110,000 – $140,000+
Why High Paying?
The healthcare industry is undergoing significant changes, and finance managers play a crucial role in managing costs and ensuring profitability. They may need expertise in areas like healthcare reimbursement and revenue cycle management. These specialized skills, coupled with the complex nature of the industry, can result in higher compensation.
Energy
Average Salary Range
$105,000 – $145,000+
Why High Paying?
Energy companies often have complex financial structures and manage volatile commodity prices. Finance managers in this industry may need expertise in areas like project finance and risk management. These specialized skillsets can be reflected in higher salaries.
Manufacturing
Average Salary Range
$100,000 – $135,000+
Why High Paying?
Manufacturing companies often have complex supply chains and inventory management needs. Finance managers with expertise in cost accounting and budgeting for production can be highly sought after and command competitive salaries.
How to Earn More as a Finance Manager
Obtain Advanced Certifications
Pursue certifications like the Chartered Financial Analyst (CFA), Certified Management Accountant (CMA), or Certified Financial Manager (CFM). These certifications are highly regarded and can set a finance manager apart from peers.
According to the CFA Institute, charterholders often command higher salaries due to their specialized skills in investment management and financial analysis. For instance, CFA charterholders reported earning an average of 25% more than their non-charterholder colleagues.
Specialize in High-Demand Financial Sectors
Specialize in sectors or roles that command higher salaries, such as financial planning and analysis (FP&A), mergers and acquisitions (M&A), or corporate restructuring.
Finance professionals in M&A or strategic roles tend to earn higher salaries due to the critical nature of their work and the direct impact on corporate growth and profitability. For example, M&A specialists can earn premiums of 15-20% over generalist finance roles.
Pursue an Executive MBA or Relevant Advanced Degree
An Executive MBA can significantly boost a finance manager’s career by expanding their strategic thinking, leadership skills, and network. Graduates of top business schools often report salary increases of up to 100% within three to five years post-graduation, according to the Graduate Management Admission Council (GMAC).
