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Financial Manager Career Data Analysis

Essay by review  •  November 15, 2010  •  Case Study  •  588 Words (3 Pages)  •  1,394 Views

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As the economy expands and employment opportunities increase, the need for workers with financial expertise will go up. I will enter the workforce at an excellent time to pursue a career as a financial manager. The information I have acquired concerning this field including opportunities, salary, and working conditions will justify my decision to obtain a position as a financial manager for a major corporation.

The opportunities available to someone with a degree in finance are limited to only a few facets of the business world, but according to Job Outlook 2004, a finance degree is one of the top ten degrees in highest demand. Employers are starting to seek graduates with a master's degree as well as a bachelor's degree, which makes competition tough among applicants. Technology plays a major role in the financial world and applicants that possess strong computer skills will have a better chance of being hired in their desired field. In the Occupational Outlook Handbook, it says that financial managers must possess critical thinking skills and work well in a team environment. We are part of a global economy, which means that it is essential for applicants to have knowledge of international finance, and be willing to travel to other business markets around the world.

In addition to business travel, financial managers are expected to work between 50-60 hours a week as an entry-level associate, and are required to attend office meetings. Up to date information is critical, therefore; without the proper technology it would be almost impossible to perform complicated data analysis or monitor current investment activities. Despite long hours and impressive workloads, employees enjoy a comfortable work atmosphere with accommodating offices that have access to state-of-the-art computer systems and other technology.

Working long hours is required of most jobs but the compensation offered to a financial manager is worth the extended time at work to most employees. The Occupational Outlook Handbook states that the median annual earning of financial managers was $73,340 in 2002. An entry-level associate can expect to earn at least $39,120, which is in the lowest 10 percent of this field. Below is a table that shows the salaries of different level associates in different career capacities as financial managers:

Total Compensation of Selected Financial Manager Positions

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