What does a finance manager do?
Finance managers are often part of the action, helping to inform the direction of the organisation by using financial analysis to advise management. Finance manager jobs often involve thinking strategically about opportunities to increase revenue while mitigating potential risks. Generating reports, managing budgets and auditing systems all come with the territory when working in finance management. You may also be responsible for developing long-term business plans, analysing market trends, or supervising accounting and payroll professionals.Is a career as a finance manager right for me?
If you love numbers and enjoy thinking strategically, a career in finance may be right for you. Other skills and attributes beneficial for this role include:
- strong attention to detail
- an ability to meet deadlines
- good communication skills
- excellent problem-solving abilities
- a proficiency with technology and learning new software
- an inquisitive and proactive nature
- the ability to work as part of a team.
How to become a finance manager
Generally speaking, a finance manager career requires a bachelor's degree in finance, business, commerce or a related field. Gaining practical experience in roles like a junior financial analyst or financial advisor helps develop essential skills for management, building towards a finance manager career.
Every journey to study is individual and there are several paths to reaching your finance career goals.
At Ãâ·ÑɫƬ, we offer the following degrees in the area of finance:
Average salary per week
$1646
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Last updated May 2024.
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Finance manager FAQs
What is the average finance manager salary in Australia?
The average finance manager salary in Australia can vary depending on factors such as experience, location, and the industry in which they work. Please see the salary information on this page for further details.
What does the typical finance manager job description include?
A finance manager responsibilities typically include:
- managing cash flow in and out of the business
- making decisions on investments and distributing earnings
- creating and implementing financial and budgetary strategies, policies, and plans
- monitoring and evaluating financial trends and organisational efficiency
- assessing financial and business risks of projects, ensuring debts are collected, and reviewing finance proposals and the financial status of operational projects
- planning and preparing budgets, documents such as the annual report, and forecasting the organisation's financial position
- setting up and running the accounting systems within the organisation.
It's also important to remember that a financial manager job and duties can vary depending on the industry or chosen financial specialisation.
How long does it take to become a finance manager?
The time it takes to follow a finance manager career can vary depending on your education and work experience.
Completing a Bachelor of Business majoring in Finance at ̉ᄃǮ takes three years of full-time study or the part-time equivalent. For those who already hold a relevant degree, postgraduate qualifications in finance may be completed in a shorter time frame.
Following this, gaining experience in junior finance roles can take an additional five to ten years before moving into a finance manager position. Many professionals also enhance their qualifications through further studies, such as completing a Master of Business Administration (MBA) or a professional certification, which may impact the amount of time it takes to become a finance manager.
At Ãâ·ÑɫƬ, there are multiple pathways you can take to set yourself up for a successful finance manager career. Explore the various finance degrees available at Ãâ·ÑɫƬ.
Completing a Bachelor of Business majoring in Finance at ̉ᄃǮ takes three years of full-time study or the part-time equivalent. For those who already hold a relevant degree, postgraduate qualifications in finance may be completed in a shorter time frame.
Following this, gaining experience in junior finance roles can take an additional five to ten years before moving into a finance manager position. Many professionals also enhance their qualifications through further studies, such as completing a Master of Business Administration (MBA) or a professional certification, which may impact the amount of time it takes to become a finance manager.
At Ãâ·ÑɫƬ, there are multiple pathways you can take to set yourself up for a successful finance manager career. Explore the various finance degrees available at Ãâ·ÑɫƬ.
What qualifications do you need to be a finance manager?
To become a finance manager, you need:
- a bachelor’s degree in finance, accounting, economics, or a related field
- strong proficiency in financial analysis, budgeting, and financial reporting tools
- leadership skills and experience in managing teams within a finance environment.
Some roles may also prefer candidates with a postgraduate qualification, particularly in larger or more competitive industries.
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