Financial Institution Managers and Directors

£73,521

Average salary

Average annual salary UK 2020 | Annual Survey of Hours and Earnings

33 hours

Average weekly hours

Average weekly hours UK 2019 | Annual Survey of Hours and Earnings

-2%

Pay growth from 2017 to 2018

Average change in weekly pay rate | Annual Survey of Hours and Earnings

2.84%

Unemployment rate

Unemployment rate UK 2019 | Labour Force Survey

Definition: Financial institution managers and directors

*SOC Code (Standard Occupational Classification): 1150

Financial institution managers and directors plan, organise, direct and co-ordinate the activities and resources of banks, building societies, insurance companies and post offices.

Common tasks include:

plans, organises, directs and co-ordinates the activities of financial institutions;
verifies that accounting, recording and information storage and retrieval procedures are adhered to;
authorises loans and mortgages in accordance with bank or building society policy;
promotes financial services, establishes contact with the local business community and professional firms;
preparing general reports and briefs on more complex cases for senior management;
ensures compliance with the statutory regulatory framework.

Qualifications

Entry is possible with A levels/H grades, S/NVQ levels 4 and 5, a degree or equivalent qualification. Those with higher qualifications obtain accelerated training. Internal promotion to management is also possible. On-the-job training is provided. Professional qualifications are available and often mandatory.

*Introduced in 1990, SOC is a multi-purpose common classification of occupations in UK. Jobs are defined in terms of skill level and skill content, including qualifications, training and work experience.

Employment status: Financial institution managers and directors

Regional employment: Financial institution managers and directors

Future employment: Financial institution managers and directors

Top 12 industries: Financial institution managers and directors

Alternative & related job titles: Financial institution managers and directors

Manager, card, credit Manager, branch (assurance company) Manager, branch (bank) Manager, costing (bank) Manager, sales (building society) Manager, technical (bank) Manager, branch (building society) Manager, unit, mortgage Manager, insurance Officer, operating, chief (banking) Manager, branch (insurance) Manager, cost (bank) Manager, settlements Banker, business Manager (stock jobbers) Manager (stockbrokers) Manager (banking) Manager, collection Manager, collections Manager, operations (bank) Manager, fund, pension Manager, technical (building society) Manager, banking Banker (finance) Manager, office, post Manager (postal services) Director, bank Manager, bank Manager, district (friendly society) Manager, operations (building society) Manager, transaction Manager, corporate (bank) Manager, market, mortgages Manager, society, friendly Manager, company, insurance Manager (insurance brokers) Manager, lending Officer, operating, chief (building society) Manager (building society) Manager, broking Owner (loan office) Manager (average adjusting) Manager, society, building Manager, mortgage Manager, sales (bank) Manager, technical (insurance) Manager, divisional (insurance) Head of lending Manager (insurance) Manager, corporate (building society) Manager, equity Manager, operations, bank

Equality focus: Financial institution managers and directors

Breaking down the official government big data sources by gender, age and region. Hours and pay data based on full time equlivalent roles.