Financial managers

Detailed Occupation

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2022 Workforce
1.36M
Average Age
44.6
Estimated Job Growth
16%
10-year projection
Average Salary
$123,925
Average Male Salary
$161,452
Average Female Salary
$94,005

Employment

Employment and salary information for the Financial managers workforce. Financial managers workforce in 2022 was 1,360,907 people, of which 55.6% were women and 44.4% were men. Financial managers are paid most in NYC-Manhattan Community District 7--Upper West Side PUMA, NY but are relatively concentrated in NYC-Manhattan Community Districts 1 & 2--Financial District & Greenwich Village PUMA, NY.

Employment Over Time

Metric
Grouping
603,717
Male Workforce
± 19k
757,190
Female Workforce
± 21.3k

The Financial managers workforce in 2022 was 1,360,907 people (55.6% women and 44.4% men). This implies an average annual growth of 26.6% between 2014 (1,074,752) and 2022 (1,360,907).

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Employment by Location

Level
Metric

This map shows the states in the United States shaded by average wage for Financial managers.

During 2022, the states that concentrated the best average annual wage were Connecticut ($189,630), New York ($187,487), and New Jersey ($164,419).

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Yearly Wage Ranking

$123,925
AVERAGE WAGE
#30 in the ranking (2022)
$64,683
NATIONAL AVERAGE WAGE
For all occupations across the US

In 2022, Financial managers earned an average of $123,925, $59,242 more than the average national salary of $64,683

The graph shows the ranking of Financial managers in relation to all Detailed Occupation in 2022.

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Wage Distribution

Gender
0.416
WAGE GINI

In 2022, Financial managers had a wage GINI coefficient of 0.416, which is lower than the national average of 0.478. In other words, wages are distributed more evenly for Financial managers (shown in red) than for the overall labor force (shown in gray).

The graphic shows the distribution of average salaries by buckets for Financial managers compared to the entire workforce in the country.

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Industry

Information on the industries that employ Financial managers and on wages for those in the field. Banking & related activities is the industry that employs the most Financial managers, both by share and by number, though the highest paid industry for Financial managers, by average wage, is Metal ore mining ($262,832).

Occupations by Industries

Metric
Value
1.36M
2022 Workforce
± 28,513
4.31%
1 YEAR GROWTH
± 2.87%

This graphic shows the share of Financial managers employed by various industries. Banking & related activities employs the largest share of Financial managers at 70.7%, followed by Nondepository credit & related activities with 19% and Securities, commodities, funds, trusts & other financial investments with 10.3%.

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Diversity

Demographic information on Financial managers in the US. The workforce of Financial managers in 2022 was 1,360,907 people, with 55.6% woman, and 44.4% men. The average age of male Financial managers in the workforce is 44 and of female Financial managers is 45.1, and the most common race/ethnicity for Financial managers is White.

Gender and Age

Metric

The workforce of Financial managers in 2022 was 1,360,907 people, with 55.6% woman, and 44.4% men.

The age ranges that concentrated the largest workforce were 35 to 39 years (187,231 people), 40 to 44 years (182,850  people), and 30 to 34 years (169,824 people). Among them they concentrated 39.7% of the total workforce.

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Ethnicity

Gender

In 2022, 12.8% of Financial managers workers were Hispanic and 87.2% non-Hispanic.

The treemap shows the distribution of Hispanic workers according to their origin, highlighting Mexican (72.3%), Puerto Rican (19.5)%, and Cuban (8.18)%

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Races

In 2022, 73.2% of the Financial managers workforce were White, of which 54.7% were women and 45.3% men. Other races that concentrated a significant number of workers were Black (8.35%) and Asian (7.83%).

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Education & Skills

Data on higher education choices for Financial managers from The Department of Education and Census Bureau. The most common major for Financial managers is Business but the most specialized major according to RCA in 2022 were Business.

Among the necessary skills for Financial managers, Reading Comprehension stands, but the revealed comparative advantage (RCA) shows that Financial managers need more than the average amount of Management of Financial Resources.

Majors

ACS PUMS data only shows the major for bachelor's degrees. However, we can filter the data based on highest degree obtained.
Type of Majors
Degree

The most common majors achieved by Financial managers in 2022 (counting all academic degrees) were Business (490,026 people), Social Sciences (85,373 people), and Engineering (31,971 people).

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Education Levels

Metric

The main educational levels achieved by the Financial managers workers were Bachelors Degree (567,116 people), Graduate Degree (289,666 people), and Some college (240,305 people).

The graphic shows the Financial managers workforce by gender and educational level.

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Skills

Chart
Value

Data on the critical and distinctive skills necessary for Financial managers from the Bureau of Labor Statistics. Financial managers need many skills, but most especially Reading Comprehension, Active Listening, Critical Thinking.

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Projections

Projections on job growth for Financial Managers from the Bureau of Labor Statistics. The 10-year national workforce is projected to grow 2.84%, but Financial Managers are expected to see a growth of 16% over the same period. This occupation is expected to grow more than the national average.

Job Growth

16%
Estimated Job Growth
10-year Projection
2.84%
National Growth
10-year Projection

This line chart shows the projected 10-year growth in the number of jobs for Financial managers. This profession is expected to grow more than than 2.84%, the average rate of national job growth.

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