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What Financial Managers Do
Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization.
Financial managers typically do the following:
Financial managers work in many places, including banks and insurance companies. Most financial managers work full time, and many work long hours.
The following industries employed the most financial managers in 2010:
How to Become a Financial Manager
Financial managers must usually have a bachelor’s degree and more than 5 years of experience in another business or financial occupation, such as loan officer, accountant, auditor, securities sales agent, or financial analyst.
The median annual wage of financial managers was $103,910 in May 2010.
Employment for financial managers is expected to grow 9 percent from 2010 to 2020, slower than the average for all occupations. As with other managerial occupations, jobseekers are likely to face competition because the number of job openings is expected to be fewer than the number of applicants. Candidates with a master's degree or certification should enjoy the best job prospects.
Source: Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2012-13 Edition
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