In 2002, financial managers had median annual earnings of $73,340. The range of earnings for the middle 50 percent was from $52,490 to $100,660. The earnings of the lowest 10 percent were under $39,120, while the earnings of the highest 10 percent exceeded $142,260. In 2002, financial managers in the industries employing the most of these managers reported the following median annual earnings:
- Securities and commodity contracts intermediation and brokerage – $125,220
- Management of companies and enterprises – $88,310
- Nondepository credit intermediation – $78,400
- Local government – $63,090
- Depository credit intermediation – $58,790
A 2002 survey, performed by Robert Half International, a staffing services firm specializing in accounting and finance professionals, showed that directors of finance were paid from $75,000 to $204,500, and corporate controllers were paid from $54,000 to $138,750.
The Association for Financial Professionals’ 14th annual compensation survey found that financial officers’ average total compensation in 2002, including bonuses and deferred compensation, was $130,900. Average total compensation for selected financial manager positions was as follows:
- Vice president of finance – $183,500
- Treasurer – $150,600
- Assistant vice president-finance – $141,300
- Controller/comptroller – $134,300
- Director – $113,600
- Assistant treasurer – $111,900
- Assistant controller/comptroller – $115,500
- Manager – $84,500
- Cash manager – $64,700
Salary varies by industry, location, and size of an organization (financial managers in large organizations generally earn more than those in small ones). Earnings are not strictly limited to salary: deferred compensation in the form of stock options is gaining popularity, particularly for senior level executives, and many financial managers in both public and private industry receive bonuses, which vary considerably by an organization’s size.
Historic Earnings Information For Financial Management Professionals
