Financial Managers vs Financial Specialists salary

As reported by the US Bureau of Labor Statistics, Financial Managers earn an average of $153,460 per year, while Financial Specialists earn an average of $87,350 per year. Therefore, the salary for Financial Managers is much higher than that of Financial Specialists.

However, it's worth mentioning that the salary of an employee can be influenced by factors such as location and experience. As an example, Financial Managers working in New York (with a wage of $206,990 on average) may have higher salaries than those in Mississippi ($100,600).

Financial Managers vs Financial Specialists overview

Financial Managers and Financial Specialists are crucial to the Credit Intermediation industry. People are often interested in learning about the distinctions between these job titles, including the average salary for each of them.

Financial Manager job description

Financial Managers plan, direct, or coordinate accounting, investing, banking, insurance, securities, and other financial activities of a branch, office, or department of an establishment.

Financial Manager education and experience

The majority of Financial Managers (56%) hold a Bachelor's Degree. However, among employees in this occupation, there are also some with a Post-Baccalaureate Certificate (21%) and a High School Diploma (14%). In terms of experience, 42% of Financial Manager jobs require a 4 to 6 years of experience in the field. A smaller part of jobs (22%) require a previous experience of 1 to 2 years.

Financial Manager average salary

According to data from the US Bureau of Labor Statistics, the number of Financial Managers employed by the United States in 2021 was 681,070, and their average annual salary was $153,460. The bottom 10 percent had a salary of $77,040 or less, and the top 10 percent had a salary of $208,000 or more. The average salary marks an increase of 1.3% compared the previous year.

Do Financial Managers make good money?

Financial Managers are usually paid well, as their average salary is almost two times higher than the average salary in the United States ($58,260). Moreover, they earn 114% more than the average pay of the Credit Intermediation industry ($71,620).

Financial Managers are usually paid well, as their average salary is almost two times higher than the average salary in the United States ($58,260).

Financial Managers job growth

In 2021, there have been 27,990 more Financial Manager roles than the previous year nationwide, which marks a growth of 4.3%. The average job growth over the past 3 years has been 3.9%.

Financial Specialist average salary

According to data from the US Bureau of Labor Statistics, the number of Financial Specialists employed by the United States in 2021 was 2.9M, and they earned an average annual income of $87,350. The bottom 10 percent had a salary of $43,720 or less, and the top 10 percent had a salary of $140,710 or more. The average salary marks an increase of 2.2% in comparison to the previous year.

Do Financial Specialists make good money?

The mean salary of Financial Specialists is about a half above the average pay in the United States ($58,260). On the other hand, they make 4% less than the mean salary of the Professional, Scientific, and Technical Services industry ($91,150).

The mean salary of Financial Specialists is about a half above the average pay in the United States ($58,260).

Financial Specialists job growth

In 2021, there have been 145,370 more Financial Specialist job opportunities than the previous year across the nation, and that shows an increase of 5.3%. The average job growth rate for the past 3 years has been 2.5%.

FAQ

Do Financial Managers or Financial Specialists make more?

The average earnings of Financial Managers are 76% higher than those of Financial Specialists. On average, Financial Specialists make $87,350 per year, while Financial Managers make $153,460.