Rajesh Pathak Jan 25, 2024
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Finance Manager Salary Guide 2024

Finance managers are hired to support an organisation’s executive management team through financial expertise and strategic decision-making. They must be creative problem solvers who can use their analytical skills to develop solutions to enhance the organisation's financial position. The job position of Finance Manager was ranked 7th among the 100 Best Jobs.  

The projections of the U.S. Bureau of Labor Statistics (BLS) state that the job opportunities for financial managers will grow by 17% between 2020 to 2030 while other professions will grow by 8%. The evolving financial landscape has brought revolutionary changes in the roles and responsibilities of finance managers.

The fundamental roles and responsibilities of Finance managers are basically the same in every part of the world, According to Edward Kendy, CEO and Editor-in-Chief of BestOnlineForexBroker.Com“It is essential that the finance manager knows everything about the company's economy and also knows about the financial market. With that the most important task finance managers should look after is to analyze the whole cash flow of the organisation. The main goal of any finance manager is to maximize the value of the organisation and make an effective financial decision”

Salaries of Finance Managers in Top Countries

Finance professionals earn above-average salaries than most professionals. BLS data indicates that personal financial advisors and financial analysts earned a median annual income of nearly $95,000 and $95,570 respectively as of 2021, which is more than double the median annual salary for other professionals. This blog will give you a deep understanding of the salaries of Finance Managers. 

Even though the roles and responsibilities of Finance Managers basically remain the same globally, their salary differs in each part of the world. Having top accounting skills and globally recognised certifications in finance will help you earn a lucrative salary as a Finance Manager. The table given below highlights the average salary earned by Finance Managers in top countries, 

United States $107,656
United Kingdom £ 73,030
United Arab Emirates AED 45,000 P.M
India ₹ 16,50,000
Australia A$ 1,55,000
Belgium €73,994
Switzerland €137,033
Germany €87,832

Also Read: Why SAP FICO Certification is important for a finance career?

Average Salary of Finance Manager As Per Years of Experience

The salary of Finance Managers differs based on their years of work experience. Given below is the detailed salary outlook for finance managers as per years of experience in various countries:

(1 - 3 years)
EUR 60,494 CHF 95,082 EUR 69,786 AED 212,442 ₹ 12,74,866 $100,993
(4 - 7 years)
EUR 87,449 CHF 137,626 EUR 100,732 AED 305,133 ₹ 18,12,219 $145,777
(8+ years)
EUR 108,430 CHF 170,896 EUR 125,431 AED 381,834 ₹ 22,91,389 $181,521

Also Read: Accounting Vs Finance, Which One Is Right For You? 

Highest Paying Industries For Finance Managers

Finance Managers have the opportunity to work in a wide variety of industries. The following industries provide high-paying jobs for finance managers,   

  • Banking and Insurance
  • Securities & brokerages
  • Stock Market
  • Mutual Funds
  • Investment Banking
  • Government Sector 
  • IT

Wrapping Up: 

The demand for Finance professionals is rising across the globe. According to Times Pro, the demand for financial management professionals in India is rising due to the country's rapid economic growth and the flourishing financial services sector. A recent report by Robert Half states that there will be a 5% increase in the salary of UAE’s employees in financial services due to the expansion of the financial sector.

There are various high-paying jobs in the finance sector and getting a job role as a Finance Manager will help you get a lucrative salary and job security. Getting upskilled and constantly updating your knowledge will help you enhance your earning potential as a finance manager. It is to be noted that the factors mentioned below will affect the salary of Finance Managers, 

  • Skill & performance
  • Work experience
  • Certifications
  • Organisational policy
  • Government laws and regulations
  • Industrial standards
  • Economic cycle
  • Geographical location

By doing your own research, you can choose the organisation, industry and country that is best for your career as a Finance Manager. Choosing the right option will help you achieve career growth and job satisfaction. 

Locations Where Edoxi Offers Finance Certification Courses 

Here is the list of other major locations where Edoxi offers Finance Certification Courses

Finance Courses in Dubai | Finance Courses in QatarFinance Courses in Sharjah | Finance Courses in Muscat | Finance Courses in Bahrain

IT Trainer

Rajesh is a Microsoft certified trainer with more than five years of experience. He plays a vital role in streamlining our enterprise software training programs. As a continuous learner with an unrelenting drive to refresh his IT skills, Rajesh always keeps an eye on the latest software releases.

His adaptable approach to learning navigates the efforts of his students in the right direction, leveraging maximum results with efficiency. Moreover, he is enthusiastic about nurturing the students' skills in a collaborative learning environment. 

He has helped hundreds of professionals hone their skills in Microsoft Office Suite, Tally, Advanced Excel Formulas, VBA, Busy Accounting Suite, Quickbooks, Power B I, and Zoho Books. In addition, he has the expertise in training individuals from global institutions like Parul University, Techno India University, GD Goenka University and Sharda University.