Financial managers plan, manage and evaluate the operations of financial and accounting departments. They put in place the financial policies and systems for a company and make sure they run well. People in this job work in private, not-for-profit and public sector organizations.
Estimated median employment income based on 2021 Job Bank median hourly wage rate (median annual salary = hourly wage rate x 40 (hours per week) x 52.14 (weeks per year))
Note:Estimated median employment income based on 2021 Job Bank median hourly wage rate (median annual salary = hourly wage rate x 40 (hours per week) x 52.14 (weeks per year))
Source: 2021 Job Bank Wage Report
Source: B.C. Labour Market Outlook
10 year expected job openings: 4,920
In general, financial managers:
Financial managers work in office environments within the public sector, for-profit businesses and not-for-profit organizations. Widespread use of technology means that some financial managers can work from a home office and go into their company’s office for specific meetings and events.
Financial managers generally work regular business hours. In some cases, they may need to work evenings and weekends during busy times such as during budget preparations, tax season, audit, or for other financial projects.
Source: 2016 Census
A financial manager should have a bachelor's degree in business administration, economics, commerce, accounting or a related field. They may also need several years of experience in accounting, auditing, budgeting, financial planning, financial analysis or other financial activities. In addition, a master's degree in a management program or in business administration (MBA) with a concentration in finance would be an asset. For some positions, a Chartered Professional Accountant (CPA) designation may be required, especially if the person wants to be promoted to a more senior role.
For more information about programs offered specifically for this career, visit EducationPlannerBC.
Every job calls for a certain set of skills. Knowing those skills is the first step in finding a good career fit.
Here, you will find the 35 most relevant workplace skills. Some are more important to achieving success in a certain career than others. These skills may come naturally to you or you may need to gain them through education, training and experience.
See the list of work-related skills below, ranked in order of importance for this career. You’ll also find the skill strength needed, letting you know how capable you must be in that skill.
Check out the list and see if this career matches your skills—take that first step!
In addition to having excellent financial skills, good communication and people skills are equally important. A financial manager may be called to speak to people throughout the company from the most junior employee to the chief executive officer, and they need to do that in a way that makes people feel comfortable. Financial managers frequently make presentations to a board of directors, to investors or at conferences. They may also be required to attend networking events with senior executives.
Most people in this job become senior managers after five to 10 years of work experience in management or assistant management roles, depending on the difficulty of work and size of the business.
With additional experience or education, financial managers can advance to senior management positions, such as senior financial manager, director of finance, vice-president of finance or chief financial officer.