FP&A Manager Salary Guide

What is the Average Salary of an FP&A Manager?

The average salary for an FP&A Manager is $105,172.

How Does Tenure Impact Salary?

Years of Experience Salary Range
1-3 Years $80,000 – $110,000 Entry-level FP&A managers, strong foundation in core FP&A skills
4-6 Years $100,000 – $130,000 Solid experience in financial planning, analysis, and budgeting. May lead small teams.
7-10 Years $120,000 – $150,000 Proven track record of success in FP&A, potential leadership of larger teams or specific FP&A functions (e.g., budgeting, forecasting)
10+ Years $140,000 – $180,000+ Extensive experience, strong leadership skills, potential for Director-level roles or highly specialized FP&A positions
1-3 Years
Salary Range $80,000 – $110,000
Entry-level FP&A managers, strong foundation in core FP&A skills
4-6 Years
Salary Range $100,000 – $130,000
Solid experience in financial planning, analysis, and budgeting. May lead small teams.
7-10 Years
Salary Range $120,000 – $150,000
Proven track record of success in FP&A, potential leadership of larger teams or specific FP&A functions (e.g., budgeting, forecasting)
10+ Years
Salary Range $140,000 – $180,000+
Extensive experience, strong leadership skills, potential for Director-level roles or highly specialized FP&A positions

Which Industries Offer the Highest Salaries?

Industry
1. Technology (Software & Internet) * High growth and fast-paced environment requiring dynamic financial planning and analysis. * Complex financial models due to subscription-based revenue models, potential for R&D expenses, and frequent acquisitions. * Demand for skilled FP&A professionals to support strategic decision-making in a competitive landscape.
2. Financial Services (Banking, Insurance, Investment Management) * Highly regulated industry with strict financial reporting requirements and risk management frameworks. * FP&A managers need expertise in complex financial instruments, capital allocation strategies, and regulatory compliance. * High compensation offered to attract and retain top talent due to the competitive nature of the industry.
3. Healthcare & Pharmaceuticals * Evolving regulatory environment and pressure on costs necessitate strong financial analysis and cost control measures. * FP&A managers play a crucial role in managing clinical trial expenses, pricing strategies, and reimbursement negotiations. * Growing demand for FP&A professionals with expertise in the healthcare sector.
4. Energy & Utilities * Capital-intensive industry with complex financial modeling needs for infrastructure projects and fluctuating commodity prices. * FP&A managers need to manage risk associated with energy market volatility and regulatory changes. * Competitive salaries offered to attract skilled professionals who can ensure financial stability in a dynamic industry.
5. Manufacturing * Large, complex organizations with global operations require sophisticated financial planning and analysis. * FP&A managers need expertise in supply chain management, cost analysis, and international financial reporting. * Manufacturing companies often compete for top talent with attractive compensation packages.
1. Technology (Software & Internet)
* High growth and fast-paced environment requiring dynamic financial planning and analysis. * Complex financial models due to subscription-based revenue models, potential for R&D expenses, and frequent acquisitions. * Demand for skilled FP&A professionals to support strategic decision-making in a competitive landscape.
2. Financial Services (Banking, Insurance, Investment Management)
* Highly regulated industry with strict financial reporting requirements and risk management frameworks. * FP&A managers need expertise in complex financial instruments, capital allocation strategies, and regulatory compliance. * High compensation offered to attract and retain top talent due to the competitive nature of the industry.
3. Healthcare & Pharmaceuticals
* Evolving regulatory environment and pressure on costs necessitate strong financial analysis and cost control measures. * FP&A managers play a crucial role in managing clinical trial expenses, pricing strategies, and reimbursement negotiations. * Growing demand for FP&A professionals with expertise in the healthcare sector.
4. Energy & Utilities
* Capital-intensive industry with complex financial modeling needs for infrastructure projects and fluctuating commodity prices. * FP&A managers need to manage risk associated with energy market volatility and regulatory changes. * Competitive salaries offered to attract skilled professionals who can ensure financial stability in a dynamic industry.
5. Manufacturing
* Large, complex organizations with global operations require sophisticated financial planning and analysis. * FP&A managers need expertise in supply chain management, cost analysis, and international financial reporting. * Manufacturing companies often compete for top talent with attractive compensation packages.

How to Earn More as an FP&A Manager

Pursue Advanced Certifications

Obtain certifications like the Certified Management Accountant (CMA) or Chartered Financial Analyst (CFA). These certifications are highly recognized in the finance industry and demonstrate a commitment to the field as well as expertise in financial analysis and strategic financial management.

According to the Institute of Management Accountants (IMA), CMAs earn 31% more in median salary and 63% more in median total compensation than non-CMAs. Similarly, CFA charterholders often command higher salaries due to their specialized skills in investment analysis and portfolio management, which are valuable in strategic financial planning roles.

Pursue a Master’s Degree in Business Administration or Finance

Enroll in and complete a Master of Business Administration (MBA) with a finance focus or a Master’s in Finance. This advanced education not only broadens your understanding of business and finance but also enhances your strategic thinking and leadership capabilities.

According to data from the Graduate Management Admission Council (GMAC), graduates with an MBA or Master’s in Finance can often see a significant boost in salary compared to their pre-degree earnings. For example, the Corporate Recruiters Survey by GMAC reported that the median starting salary for MBA graduates in the US was expected to be $115,000, which is notably higher than holders of a bachelor’s degree in business.

Develop Expertise in Financial Software and Data Analytics

Gain proficiency in advanced financial modeling tools, ERP systems (like SAP or Oracle), and data analytics platforms (such as Tableau or Power BI). These skills are critical in leveraging big data for financial planning, forecasting, and strategic decision-making.

According to Payscale and industry surveys, FP&A professionals who can effectively utilize advanced data analytics and financial modeling tools often receive higher offers due to their ability to provide deeper insights and more accurate forecasts, which are crucial for driving business strategies. Mastery of these tools directly correlates with the ability to add value to the business, leading to potential salary increases and better job prospects.