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.
- Examine, evaluate, or process loan applications.
- Approve, reject, or coordinate the approval or rejection of lines of credit or commercial, real estate, or personal loans.
- Plan, direct, or coordinate the activities of workers in branches, offices, or departments of establishments, such as branch banks, brokerage firms, risk and insurance departments, or credit departments.
- Establish and maintain relationships with individual or business customers or provide assistance with problems these customers may encounter.
Interested in becoming ? Find the right schools that can help you to become one. This service is free thanks to our sponsors.View available schools
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 states||Hourly||Annual|
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.
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|
Pros and Cons
Here are some of the pros and cons of being a Branch or Department Financial Manager.
|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|
|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
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
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.
lead or manage the development and evaluation of potential wind energy business opportunities, including environmental studies, permitting, and proposals. May also manage construction of projects.
direct and coordinate, through subordinate supervisory personnel, activities of workers engaged in fish hatchery production for corporations, cooperatives, or other owners.
plan, direct, or coordinate advertising policies and programs or produce collateral materials, such as posters, contests, coupons, or give-aways, to create extra interest in the purchase of a product or service for a department, an entire organization, or on an account basis.
plan, direct, or coordinate the management or operation of farms, ranches, greenhouses, aquacultural operations, nurseries, timber tracts, or other agricultural establishments. May hire, train, or supervise farm workers or contract for services to carry out the day-to-day activities of the managed operation. May engage in or supervise planting, cultivating, harvesting, financial, or marketing activities.
plan, direct, or coordinate production activities of an organization to ensure compliance with regulations and standard operating procedures.
Related career information
Financial Managers job description, Financial Managers salary, Financial Managers information, what is the job of a Branch or Department Financial Manager like, pros and cons about Branch or Department Financial Managers, colleges and universities for Branch or Department Financial Managers, is Branch or Department Financial Managers the right career for me, careers in Management
Account Manager, Accountant Supervisor, Accounts Manager, Accounts Supervisor, Actuarial Manager, Asset Manager, Assistant Manager, Assistant Vice President (AVP), ATM Manager (Automatic Teller Machine Manager), Auditing Manager