Branch or Department Financial Managers: Salary, Job Description, How To Be One and More

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Financial Managers career information
pros and cons of being a Branch or Department Financial Manager

Branch or Department Financial Managers

direct and coordinate financial activities of workers in a branch, office, or department of an establishment, such as branch bank, brokerage firm, risk and insurance department, or credit department.

$146830
Salary
77%
Job Satisfaction
Hard
Becoming One
Medium
Job Growth
Suitable Personality

Branch or Department Financial Managers

Salary, Job Description, How To Be One and More


In this career summary, you will find out what the job of a Branch or Department Financial Manager is about and what it is like.

After reading this, you will have a good idea on what the job is about and decide if this is the right career for you.



Job description

Branch or Department Financial Managers direct and coordinate financial activities of workers in a branch, office, or department of an establishment, such as branch bank, brokerage firm, risk and insurance department, or credit department.


    Read more about what does a Branch or Department Financial Manager really do at work and what is it like being and working as one.




    Become one

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    Salary

    Average salary
    $146830 per year

    Average hourly wage
    $71 per hour


    Financial Managers with little to no experience tend to make between $67620 and $91420 while the more experienced ones can earn over $178840 per year.

    Top 5 paying statesHourlyAnnual
    NY$101$210,510
    NJ$85$175,880
    CT$80$167,160
    DE$80$167,110
    DC$80$166,710

    One of the easiest ways to increase your salary as a Branch or Department Financial Manager is to move to a higher paying state like NY. Right now, the highest paying states for Financial Managers are NY, NJ, CT, DE and DC.

    However a higher pay at NY doesn’t guarantee that you will make more because the living expenses at NY might be twice as high than where you are currently at now.

    Three other factors that can increase your salary as a Branch or Department Financial Manager is the degree you hold, the industry you work in and lastly the company you work for.



    Requirements

    Recommended degree level
    Bachelor’s Degree

    We asked other Financial Managers what degree they had when they got the job and most of them said they had a Bachelor’s Degree followed by a High School Diploma.

    Other than that, we also asked them what did they major in and here are the most popular majors that came up.

    Accounting and Finance
    Accounting and Business/Management
    Finance, General
    International Finance
    Public Finance

    Read more about how to become a Branch or Department Financial Manager and the degree, training and education you need.



    Pros and Cons

    Here are some of the pros and cons of being a Branch or Department Financial Manager.

    PROS
    Suitable for people who likes to start and carry out projects
    Suitable for people who wants job security and a good working condition
    This career is perfect for people who love to work indoors.
    One of the highest paid careers in the world
    CONS
    Not suitable for people who likes to work with designs
    It is hard to get into this career. A considerable amount of work-related skill, knowledge, or experience is required for this career.
    Long working hours (More than 40 hours per week)



    What is the job like

    Job satisfaction
    77%

    Is this job meaningful
    47%


    77% of Financial Managers said they were satisfied with their job and 47% said they feel like their job is making other people’s lives better.



    Is this right for me

    Best personality for this career
    The Entrepreneurs and The Organizers


    You can read more about these career personality types here.

    People who are suitable for this job tends to like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk taking and often deal with business..

    They also like following set procedures and routines. They like working with data and details more than with ideas.



    How we can help

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