A financial manager works for a company which deals with finances to some extent larger than normal, and is responsible for the flow of funds in the company’s budget, as well as the company’s relationship to their customers in financial terms. The financial manager is responsible for approving or denying loan requests, analyzing the company’s financial status and recommending improvements to it, as well as determining the course of action in cases when the company is facing financial difficulty and requires immediate action to avert potential disasters.
Becoming a financial manager requires a degree in either finances, economics or administration, though there are some other subjects which are commonly accepted. Intricate knowledge of the various principles of accounting and organizing a business entity’s finances are required. Additionally, some companies require candidates for the position to have a set number of years of employment at the company, to ensure that the candidate is well-familiar with that company’s specific model of business and the operations they perform on a regular basis.
A financial manager can earn between $55,000 – $108,000 per year, depending on their place of employment and their qualifications. The job is known for offering some attractive bonuses to its practitioners, and additionally it involves a rather low workload compared to the pay rate, making it a very attractive position for many people – though of course, this also drives the competition in the market very highly and it can be hard to find employment at this position.