State medians come from the same OEWS release as the national figures. The cost-of-living column divides each state median by that state's BEA Regional Price Parity, restating pay in national-average dollars so a high-cost state and a low-cost one can be compared directly.
Financial Manager Salary (2026): Data, Outlook & How to Become One
The median pay for Financial Managers is $166,570 a year ($80.08/hr), according to BLS OEWS, May 2025. Employment is projected to grow 14.8% through 2034, with about 74,600 openings a year (BLS EP, 2024–2034). Typical entry-level education: Bachelor's degree.
SOC 11-3031ManagementLast updated August 23, 2026
- Median pay
- $166,570
- Projected growth
- +14.8%
- Openings a year
- 74,600
- Typical education
- Bachelor's
BLS OEWS, May 2025
BLS EP, 2024–2034
BLS EP, 2024–2034
BLS EP, 2024–2034
Also advertised as: Accounting Supervisor, Banking Center Manager (BCM), Branch Manager, Business Banking Manager, Credit Administration Manager, Credit Manager.
How much do Financial Managers make?
10th percentile$94,310
Entry / lowest-paid tenth
25th percentile$125,490
Lower quartile
Median (50th)$166,570
Half earn more, half earn less
75th percentile$219,980
Upper quartile
90th percentile$323,270
Top-paid tenth
| Median annual wage | $166,570 |
|---|---|
| Median hourly wage | $80.08/hr |
| Mean annual wage | $186,910 |
| People employed | 841,710 |
Versus all US occupations
At $166,570, Financial Managers earn 227% above the $50,980 median across all US occupations, a difference of $115,590 a year.
Versus management occupations
Inside the Management group, where the middle occupation pays $126,060, this is 32% above the group median.
Pay range
The top 10% earn $323,270 or more while the bottom 10% earn $94,310, a gap of 3.4×. That is an unusually wide spread, which usually tracks specialisation, employer type and years of experience.
Rank in the bank
This median pays more than 96% of the 923 occupations in the NueCareer career bank.
Highest-paying state
New York pays the most at $219,880, and still leads at $203,742 once local prices are taken into account.
Which states pay Financial Managers the most?
| State | Median | COL-adjusted | Employed |
|---|---|---|---|
| New York | $219,880 | $203,742 | 80,810 |
| Massachusetts | $206,760 | $195,505 | 26,150 |
| New Jersey | $199,110 | $182,997 | 32,510 |
| District of Columbia | $188,880 | $171,864 | 8,930 |
| Virginia | $185,220 | $183,197 | 20,850 |
| Colorado | $182,690 | $177,279 | 10,640 |
| Delaware | $181,580 | $181,929 | 2,810 |
| California | $180,770 | $163,268 | 93,310 |
| Washington | $174,840 | $163,382 | 12,930 |
| Connecticut | $174,830 | $168,739 | 20,040 |
Is Financial Manager a growing career?
Financial Managers14.8%
All US occupations3.1%
+14.8% projected growth vs 3.1% for all occupations.
Much faster than average
BLS projects employment of Financial Managers to change 14.8% over 2024–2034, roughly 4.8× the 3.1% projected for all occupations. That is 128,800 more jobs.
Annual openings
About 74,600 openings are projected each year, 8.6% of the 868,600 jobs that existed in 2024. Most come from workers leaving the occupation, not from growth alone.
Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
Services provided by financial managers, such as planning, directing, and coordinating investments, are likely to stay in demand as the economy grows. In addition, several specialties within financial management, such as cash management and risk management, are expected to be in high demand over the decade.
There has been an increased emphasis on risk management within the financial industry, and this trend is expected to continue. Banking institutions are expected to emphasize stability and managing risk over profits. This emphasis is expected to lead to employment growth for risk managers.
How to become a Financial Manager
No state or federal body licenses financial managers, and no certification is required. What gates the job is time: BLS records a bachelor's degree plus 5 years or more of experience in another business or financial occupation such as accountant, securities sales agent, financial analyst or loan officer. The certifications people reach for afterwards are voluntary. The one BLS describes in detail, requiring a bachelor's degree, examinations and professional-level experience in government financial management, is AGA's CGFM, and it applies only to the government side of the field.
The credential path, step by step
- Earn a bachelor's degree in business, economics or a related field4 years
BLS records at least a bachelor's degree as typical, in disciplines chosen because they teach analytical skills and methods.
- Spend five years or more in a feeder occupation5 years or more
Financial managers usually have experience as a loan officer, accountant, securities sales agent or financial analyst first. This is the real requirement and it is longer than most people expect. Some companies provide management training to prepare skilled financial workers for the step.
- Add a certification only where the work calls for one
BLS is explicit that professional certification is not required, though it indicates competence. AGA's Certified Government Financial Manager requires a bachelor's degree from an accredited US college or university, passing three examinations (Governmental Environment; Governmental Accounting, Financial Reporting and Budgeting; and Governmental Financial Management and Control), at least two years of professional-level experience in US government financial management, and agreement to abide by AGA's Code of Ethics. The experience is not needed to sit the exams, but must be documented and approved before the designation is granted.
- Know where a genuine licence does apply, and where it does not
Certified public accountants are licensed by their state's board of accountancy and must pass an examination. A financial manager who signs as a CPA needs that licence, and any accountant filing a report with the SEC must be a licensed CPA. The financial manager role itself carries no such requirement. Experienced financial managers may advance to chief financial officer, responsible for the accuracy of the organisation's financial reporting, which again is a responsibility rather than a credential.
Exams you have to pass
CGFM Examinations (CGFM)
Three examinations: Governmental Environment; Governmental Accounting, Financial Reporting and Budgeting; and Governmental Financial Management and Control. A bachelor's degree from an accredited US college or university is required before sitting any of them. Passing all three is not enough on its own: two years of professional-level US government financial management experience must be documented and approved before the designation is awarded.
Administered by AGA (Association of Government Accountants).
- How long the training takes
4 years for a bachelor's degree, then 5 years or more in another business or financial occupation
BLS records the experience requirement as 5 years or more, which is the binding constraint. CGFM candidates need an additional two years of professional-level US government financial management experience before the designation is granted, though they may sit the examinations before completing it.
- Continuing education
Not required
None is required to hold the job. BLS notes that certification holders must complete continuing professional education to keep the credential; AGA requires CGFM holders to complete at least 80 hours of continuing professional education every two years in government financial management or related technical subjects, including 4 hours of ethics.
Licensing and state variation
Not a state license
The occupation is not licensed in any state, and there is no state board, examination or scope-of-practice rule for financial managers. The only state credential nearby is the CPA licence, issued by each state's board of accountancy with its own education, examination and experience requirements, and it is required for CPA work rather than for financial management.
Who governs the credential
- AGA (Association of Government Accountants) (AGA) — Awards the Certified Government Financial Manager (CGFM), a voluntary certification for government financial management with a degree requirement, three examinations, a two-year experience requirement, a code of ethics and an 80-hour biennial continuing education obligation.
Credential detail for financial managers is researched by hand from the bodies that issue it, not derived from BLS or O*NET. Sources last checked August 23, 2026. Requirements change: confirm with your own state board before enrolling in anything.
- US Bureau of Labor Statistics, Occupational Outlook Handbook: Financial Managers · checked August 23, 2026
- AGA: CGFM Certification Process · checked August 23, 2026
- AGA: CGFM Examination Requirements · checked August 23, 2026
- AGA: CGFM Continuing Professional Education Requirements · checked August 23, 2026
What the federal data says
Financial managers typically need a bachelor’s degree and 5 years or more of experience in another business or financial occupation, such as an accountant, securities sales agent, or financial analyst.
| Typical entry-level education | Bachelor's degree |
|---|---|
| Preparation needed (O*NET job zone) | Medium preparation |
| Work experience in a related occupation | 5 years or more |
| Typical on-the-job training | None |
What education people in the job have
O*NET incumbent survey: the highest level of education reported by people already working as financial managers.
- Bachelor's Degree56.3%
- Post-Baccalaureate Certificate21.0%
- High School Diploma14.2%
- Some College Courses4.6%
- Associate's Degree (or other 2-year degree)3.9%
What does a Financial Manager do?
Plan, direct, or coordinate accounting, investing, banking, insurance, securities, and other financial activities of a branch, office, or department of an establishment.
Financial managers are responsible for the financial health of an organization. They create financial reports, direct investment activities, and develop plans for the long-term financial goals of their organization.
Day-to-day tasks
- Recruit staff members.
- Establish and maintain relationships with individual or business customers or provide assistance with problems these customers may encounter.
- 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.
- Oversee training programs.
- Oversee the flow of cash or financial instruments.
- Evaluate data pertaining to costs to plan budgets.
O*NET core tasks, ordered by reported importance.
Working conditions and hours
Most financial managers work full time, and some work more than 40 hours per week.
Where the work happens
- Indoors, in a climate-controlled space, every day
Physical demands
- Seated for more than half the working day
Working with people
- Face-to-face discussions every day
Pressure and stakes
- Meeting strict deadlines at least weekly
Autonomy
- A lot of freedom to make decisions without checking first
Schedules: BLS Occupational Outlook Handbook, 2024–2034 edition. Conditions: O*NET Work Context survey, showing only the signals people in the job report decisively one way or the other.
Where financial managers work
| Finance and insurance | 31% |
|---|---|
| Professional, scientific, and technical services | 14% |
| Management of companies and enterprises | 10% |
| Government, excluding state and local education and hospitals | 6% |
| Manufacturing | 5% |
BLS Occupational Outlook Handbook, 2024–2034 edition.
Core skills
- Reading Comprehension4.0/5
- Active Listening4.0/5
- Speaking4.0/5
- Critical Thinking4.0/5
- Writing3.8/5
- Monitoring3.8/5
- Mathematics3.5/5
- Active Learning3.5/5
Transferable skills
- Social Perceptiveness3.6/5
- Coordination3.6/5
- Service Orientation3.6/5
- Complex Problem Solving3.6/5
- Judgment and Decision Making3.6/5
- Time Management3.6/5
- Management of Personnel Resources3.6/5
- Persuasion3.4/5
Tools and software
- Accounting software · in demand
- Analytical or scientific software · in demand
- Business intelligence and data analysis software · in demand
- Customer relationship management CRM software · in demand
- Data base management system software · in demand
- Data base user interface and query software · in demand
- Development environment software · in demand
- Document management software · in demand
- Electronic mail software · in demand
- Enterprise resource planning ERP software · in demand
- Object or component oriented development software · in demand
- Office suite software · in demand
“In demand” marks an O*NET Employer-Based Hot Technology, software named in real job postings for this occupation.
What personality type suits a Financial Manager?
Interest profile: O*NET Occupational Interests, scored 1–7
Realistic1.4
Investigative2.5
Artistic1.6
Socialprimary3.0
Enterprisingprimary7.0
Conventionalprimary5.6
Day to day this is work built around leading, persuading, selling and making decisions, combined with organising, following procedures and working precisely with data.
Closest MBTI types
NueCareer fit scores: cosine similarity between each MBTI type's interest vector and this occupation's O*NET interest profile. Not a BLS or O*NET figure; the method is documented on our methodology page.
Financial Manager: frequently asked questions
How much do Financial Managers make?
Financial Managers earn a median of $166,570 a year (BLS OEWS, May 2025). That is 227% above the $50,980 median for all US occupations. That works out at $80.08/hr. The middle half earn between $125,490 and $219,980. The top 10% earn $323,270 or more.
Do you need a degree to become a Financial Manager?
Yes. BLS reports a bachelor's degree as the typical entry-level education for Financial Managers, and O*NET rates the preparation needed as medium preparation. Employers typically expect 5 years or more of related work experience first. In O*NET's survey of people already doing the job, 56.3% hold bachelor's degree.
Is Financial Manager a growing career?
Yes, strongly. Employment is projected to grow 14.8% over 2024–2034, more than double the 3.1% projected for all occupations (BLS EP, 2024–2034). BLS still projects about 74,600 openings a year, mostly from workers retiring or moving to other work.
What does a Financial Manager do?
Financial managers are responsible for the financial health of an organization. A core O*NET task: recruit staff members. Employers most often ask for Accounting software, Analytical or scientific software, Business intelligence and data analysis software.
Which states pay Financial Managers the most?
The highest state medians for Financial Managers are New York ($219,880), Massachusetts ($206,760), New Jersey ($199,110) (BLS OEWS, May 2025).
What personality type suits a Financial Manager?
O*NET scores Financial Managers highest on the Enterprising, Conventional and Social interest areas, so the work mixes leading, persuading, selling and making decisions with organising, following procedures and working precisely with data. On NueCareer's MBTI-to-interest mapping the closest types are ESTJ, ESFJ. Personality is a fit signal, not a gate. The free NueCareer quiz scores your own profile against all 923 occupations in the bank.
How long does it take to become a Financial Manager?
4 years for a bachelor's degree, then 5 years or more in another business or financial occupation. BLS records the experience requirement as 5 years or more, which is the binding constraint. CGFM candidates need an additional two years of professional-level US government financial management experience before the designation is granted, though they may sit the examinations before completing it.
Do you need a license to work as a Financial Manager?
Not a state license. The occupation is not licensed in any state, and there is no state board, examination or scope-of-practice rule for financial managers. The only state credential nearby is the CPA licence, issued by each state's board of accountancy with its own education, examination and experience requirements, and it is required for CPA work rather than for financial management.
What exams and certifications apply to a Financial Manager?
The CGFM (CGFM Examinations). Three examinations: Governmental Environment; Governmental Accounting, Financial Reporting and Budgeting; and Governmental Financial Management and Control. A bachelor's degree from an accredited US college or university is required before sitting any of them. Passing all three is not enough on its own: two years of professional-level US government financial management experience must be documented and approved before the designation is awarded.