Financial Managers and Directors
£66,743
Average salary
38 hours
Average weekly hours
1.86%
Unemployment rate
Definition: Financial managers and directors
*SOC Code (Standard Occupational Classification): 1131
Financial managers and directors plan, organise, direct and co-ordinate the financial information of companies, the activities and resources of financial institutions, such as banks and insurance companies, and advise on company financial policy.
Common tasks include:
- participates in the formulation of strategic and long-term business plans, assesses the implications for the organisation financial mechanisms and oversees their implementation
- plans external and internal audit programmes, arranges for the collection and analysis of accounting, budgetary and related information, and manages the company’s financial systems
- determines staffing levels appropriate for accounting activities
- assesses and advises on factors affecting business performance
- plans, organises, directs and co-ordinates the activities of financial institutions
- ensures compliance with accounting, recording and information storage, retrieval procedures and the statutory regulatory framework
Qualifications
Entry is most common with a relevant degree or equivalent qualification, although it is possible with A levels/H grades, S/NVQ levels 4 and 5. Those with higher qualifications may obtain accelerated training. Internal promotion to management is possible and on-the-job training is provided. Professional qualifications are available and are required or mandatory for certain posts.
*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 managers and directors
Regional employment: Financial managers and directors
Future employment: Financial managers and directors
Top 12 industries: Financial managers and directors
Alternative & related job titles: Financial managers and directors
Bank Manager Finance Director Insurance Manager Investment banker Treasury manager
Equality focus: Financial 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
£45,364
Female average annual salary
£78,736
Male average annual salary
36
Female average weekly hours
39
Male average weekly hours
Average pay per hour: Financial managers and directors
Workforce gender: Financial managers and directors
Breakdown by region
£74,564
London - highest annual average salary
£56,836
North East (England) - lowest annual average salary
43
Northern Ireland - Highest average weekly hours
36
London - Lowest average weekly hours
Average pay per week (£): Financial managers and directors
Average weekly hours by UK region/nation: Financial managers and directors
Breakdown by age
20 years
Lowest annual salary (£24,507)
years
Highest annual salary (£0) at this age