Financial Institution Managers and Directors
£74,043
Average salary
37 hours
Average weekly hours
0.8%
Pay growth from 2016 to 2017
1.51%
Unemployment rate
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.
Breakdown by gender
£55,271
Female average annual salary
£82,907
Male average annual salary
37
Female average weekly hours
37
Male average weekly hours
Average pay per hour: Financial institution managers and directors
Workforce gender: Financial institution managers and directors
Breakdown by region
£105,850
London - highest annual average salary
£40,150
Wales - lowest annual average salary
42
Northern Ireland - Highest average weekly hours
36
East of England - Lowest average weekly hours
Average pay per week (£): Financial institution managers and directors
Average weekly hours by UK region/nation: Financial institution managers and directors
Breakdown by age
20 years
Lowest annual salary (£14,079)
50 years
Highest annual salary (£83,429) at this age
Insufficient data
Unemployment rate for under 25s
1.51%
Unemployment rate for 25s and over