How Much Do Financial Managers Make in 2021 (including Starting Salary)

Stan T.Career, SalaryLeave a Comment

Annual Salary, Salary Range, and Highest Paying States and Industries

Financial Managers

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.

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Table of contents
  1. Average salary
  2. Starting salary
  3. Salary rank
  4. Salary range
  5. Highest paying states
  6. Highest paying industries

Average salary

Annual salary
$151510 per year
Hourly wage
$73 per hour

Starting salary

Entry-level annual salary
$70,830 to $95,770 per year
Entry-level hourly wage
$34 to $46 per hour

Entry-level Branch or Department Financial Managers with little to no experience can expect to make anywhere between $70,830 to $95,770 per year or $34 to $46 per hour. Similar to any other job, their salary will increase as they gain experience.

Salary rank

Salary rank

We wanted to make it easy for our readers to compare the salary of Branch or Department Financial Managers to all the other careers out there. So we created Salary Rank. We compared the salary of all careers then we gave them a rank of A, B, C, or D depending on where their average salary sit in comparison to other careers.

Salary range

Level Hourly Annual
Highest (Top 10%) $100+ $208,000+
Senior (Top 25%) $89 $186,030
Middle (Mid 50%) $65 $134,180
Junior (Bottom 25%) $46 $95,770
No experience (Bottom 10%) $34 $70,830

Highest paying states

State Hourly Annual
NY $104 $215,640
NJ $89 $184,130
DC $86 $177,920
DE $85 $176,630
CO $83 $172,400
CT $82 $170,500
RI $81 $169,070
VA $80 $166,420
CA $78 $162,650
MA $76 $158,990

Another simple way to increase your salary as a Branch or Department Financial Manager is to move to a higher paying state. However moving to a higher paying state like NY doesn’t guarantee that you will make more because the expenses at NY might be much higher than where you are currently living at right now.

According to BLS, the highest paid Financial Managers are in the states of NY, NJ, DC, DE and CO.

Highest paying industries

Salary by industry Annual Hourly
Securities, Commodity Contracts, and Other Financial Investments and Related Activities $206050 $99.06
Other Information Services $204410 $98.27
Monetary Authorities-Central Bank $200780 $96.53
Cable and Other Subscription Programming $196520 $94.48
Computer and Peripheral Equipment Manufacturing $195340 $93.91
Motion Picture and Video Industries $192330 $92.47
Scientific Research and Development Services $187830 $90.30
Advertising, Public Relations, and Related Services $178730 $85.93
Cut and Sew Apparel Manufacturing $178330 $85.74
Software Publishers $177720 $85.44
Apparel, Piece Goods, and Notions Merchant Wholesalers $176840 $85.02
Computer Systems Design and Related Services $176060 $84.65
Data Processing, Hosting, and Related Services $175620 $84.43
Accounting, Tax Preparation, Bookkeeping, and Payroll Services $175200 $84.23
Taxi and Limousine Service $172980 $83.17
Radio and Television Broadcasting $172400 $82.89
Textile Furnishings Mills $171940 $82.66
Other Investment Pools and Funds $171710 $82.55
Insurance Carriers $170850 $82.14
Oil and Gas Extraction $170820 $82.13
Pipeline Transportation of Natural Gas $170680 $82.06
Newspaper, Periodical, Book, and Directory Publishers $170120 $81.79
Pharmaceutical and Medicine Manufacturing $168520 $81.02
Management, Scientific, and Technical Consulting Services $168010 $80.77
Semiconductor and Other Electronic Component Manufacturing $167550 $80.55
Specialty Hospitals $167200 $80.39
Management of Companies and Enterprises $165480 $79.56
Sound Recording Industries $164950 $79.30
Other Professional, Scientific, and Technical Services $164770 $79.22
Electronic Shopping and Mail-Order Houses $164420 $79.05

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