Finance Officer Salary

Created by Henry Steele

By Henry Steele - January 8, 2018
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The following article discusses the career path of Finance Officer. Learn about how to become one, education requirements, job duties, traits and qualities, national salary outlook as well as top national employers of Finance Officers.

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Finance Officer Job Duties

Finance officers are responsible for the handling of financial issues and making financial decisions for the company. They often review reports, liaise with accounting departments, and set budgets. They supervise their organizational spending, including cash management and investment. Sometimes, they also prepare financial statements, which must be fully compliant with relevant state and federal regulations and law. They conduct internal audits and report on those.

Typically, these professionals work in a team and they have tight deadlines to meet. They work alongside the CEO and the CFO of the company. They generally working during normal business hours, although some overtime may sometimes be required.

Other job duties of a finance officer include:

  • Ensuring all financial records are kept appropriately
  • Developing annual budgets
  • Providing guidance and expertise to others in the organization as it relates to financial strategies and company operations.
  • Supervising and monitoring investment strategies, manage company assets, and direct the various financial resources.
  • Making sure that full compliance is achieved and maintained across the board

Where Finance Officer’s Work

According to the U.S. Bureau of Labor Statistics, there were 580,400 financial managers in 2016. The largest employers of these professionals were:

  • Finance and insurance: 29%
  • Professional, scientific, and technical services: 12%
  • Management of companies and enterprises: 11%
  • Government: 7%
  • Manufacturing: 7%

How to Become a Finance Officer

Typically, businesses look for finance officers who hold a bachelor’s degree in a field, such as finance, business administration, or accounting. Some organizations look for those who hold a master’s degree. However, experience in fields such as finance and accounting is generally the most important of all. Finance officers can also obtain professional certification, such as the Certified Public Finance Officer (CPFO), which must be maintained through continuous education.

Finance Officer Education Requirements

A bachelor’s degree is generally the minimum requirement, coupled with at least five years of professional experience in a financial field. Many have a background in financial analysis, securities sales, or accountancy, for instance. More and more commonly, finance officers are required to hold a master’s degree, with the master of business administration (MBA) being particularly popular. This demonstrates proficiency in financial analysis.

Numerous certifications exist for finance officers, none of which are usually required, but all of which will improve professional opportunities. For some roles, certification is a legal requirement. Some of the most popular ones include:

  • Chartered Financial Analyst (CFA) offered through the CFA Institute
  • Certified Public Finance Officer (CPFO)
  • Certified Public Accountant (CPA) offered through the American Institute of Certified Public Accountants (AICPA)
  • Certified Treasury Professional offered through the Association for Financial Professionals

Finance Officer Traits & Qualities

The most effective finance officers have the following traits to some degree or other:

  • Excellent analytical skills
  • Great communication skills, both oral and written and particularly in relation to report writing and presentation
  • Being detail oriented
  • Strong mathematical skills, particularly in relation to accounting
  • Great organizational skills
  • Being ethical, efficient, honest, and trustworthy
  • Having strong computer skills
  • Being a problem solver

Minimum Finance Officer Education

Bachelor’s Degree

National Finance Officer Salary

The national average salary estimate for Finance Officer was $61,442. This number is estimated from over 133,924 employees, users past and present job advertisements from Indeed.com. This equates to an hourly salary of $32.00 and monthly of $5,120.

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$14,000

$156,000

Salary Distribution

Finance Officer Salary by State

The following section lists Finance Officer salaries in each state around the country. The figures are based on the total number of job postings through Indeed.com. For example, Kansas had the largest quoted salary of $88,825 while Minnesota had the smallest quoted salary of $42,680.

AlaskaIllinoisNebraskaTennessee
AlabamaKansasNew JerseyTexas
CaliforniaKentuckyNew YorkUtah
ColoradoMaineOhioVirginia
DCMinnesotaOklahomaWashington
GeorgiaMississippiOregon
IowaNorth CarolinaSouth Dakota
Alaska – $50,438Rank: 22nd
The average salary ranks 22nd among states in the country. There were also job openings from employers like Denali Federal Credit Union.

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$14,000

$114,000

Salary Distribution
Alabama – $53,263Rank: 20th
The average salary ranks 20th among states in the country. There were also job openings from employers like University of Alabama and University of Alabama, Birmingham.

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$14,000

$129,000

Salary Distribution
California – $72,815Rank: 10th
The average salary ranks 10th among states in the country. There were also job openings from employers like Lamont Public Utility District, The University of California, Ivy Bridge Group,Inc, and Robert Half Management Resources.

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$14,000

$190,000

Salary Distribution
Colorado – $73,543Rank: 9th
The average salary ranks 9th among states in the country. There were also job openings from employers like NECALG and Metro Wastewater Reclamation District.

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$14,000

$187,000

Salary Distribution
DC – $74,363Rank: 6th
The average salary ranks 6th among states in the country. There were also job openings from employers like Central Intelligence Agency, Greylocke & Company, and American Bar Association (ABA).

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$21,000

$159,000

Salary Distribution
Georgia – $57,806Rank: 17th
The average salary ranks 17th among states in the country. There were also job openings from employers like Georgia State University.

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$14,000

$131,000

Salary Distribution
Iowa – $73,843Rank: 7th
The average salary ranks 7th among states in the country. There were also job openings from employers like Farm Credit Services of America, ACA.

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$16,000

$175,000

Salary Distribution
Illinois – $58,027Rank: 16th
The average salary ranks 16th among states in the country. There were also job openings from employers like Premium Concrete, Inc..

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$14,000

$143,000

Salary Distribution
Kansas – $88,825Rank: 1st
The average salary ranks 1st among states in the country. There were also job openings from employers like Accounting Career Network.

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$24,000

$194,000

Salary Distribution
Kentucky – $47,541Rank: 24th
The average salary ranks 24th among states in the country. There were also job openings from employers like University of Kentucky.

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$14,000

$100,000

Salary Distribution
Maine – $42,926Rank: 25th
The average salary ranks 25th among states in the country. There were also job openings from employers like MaineHousing.

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$21,000

$71,000

Salary Distribution
Minnesota – $42,680Rank: 26th
The average salary ranks 26th among states in the country. There were also job openings from employers like Spire Credit Union and State of Minnesota.

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$14,000

$101,000

Salary Distribution
Mississippi – $75,284Rank: 4th
The average salary ranks 4th among states in the country. There were also job openings from employers like Accounting Career Network.

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$16,000

$176,000

Salary Distribution
North Carolina – $47,735Rank: 23rd
The average salary ranks 23rd among states in the country. There were also job openings from employers like University of North Carolina, Holly Ridge, State Employees’ Credit Union, and Waxhaw ABC Board.

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$14,000

$111,000

Salary Distribution
Nebraska – $75,945Rank: 3rd
The average salary ranks 3rd among states in the country. There were also job openings from employers like Farm Credit Services of America, ACA.

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$16,000

$181,000

Salary Distribution
New Jersey – $73,612Rank: 8th
The average salary ranks 8th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting.

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$14,000

$194,000

Salary Distribution
New York – $70,100Rank: 12th
The average salary ranks 12th among states in the country. There were also job openings from employers like Citi, Keller Williams Realty NYC Group, M&G Investments, and Pro-Partners.

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$14,000

$194,000

Salary Distribution
Ohio – $75,101Rank: 5th
The average salary ranks 5th among states in the country. There were also job openings from employers like U.S. Air Force.

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$14,000

$185,000

Salary Distribution
Oklahoma – $71,289Rank: 11th
The average salary ranks 11th among states in the country. There were also job openings from employers like Accounting Career Network.

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$14,000

$174,000

Salary Distribution
Oregon – $61,674Rank: 15th
The average salary ranks 15th among states in the country. There were also job openings from employers like Oregon Department of Consumer and Business Services and Bank of the West.

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$16,000

$136,000

Salary Distribution
South Dakota – $70,026Rank: 13th
The average salary ranks 13th among states in the country. There were also job openings from employers like Farm Credit Services of America, ACA.

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$14,000

$172,000

Salary Distribution
Tennessee – $52,536Rank: 21st
The average salary ranks 21st among states in the country. There were also job openings from employers like Metropolitan Government of Nashville & Davidson County and Accounting Career Network.

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$14,000

$127,000

Salary Distribution
Texas – $56,973Rank: 18th
The average salary ranks 18th among states in the country. There were also job openings from employers like University of Texas at Austin, University of Texas System, University of Texas At Tyler, and Global Oil Trading Firm.

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$14,000

$139,000

Salary Distribution
Utah – $69,652Rank: 14th
The average salary ranks 14th among states in the country. There were also job openings from employers like Utah State University.

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$19,000

$150,000

Salary Distribution
Virginia – $54,711Rank: 19th
The average salary ranks 19th among states in the country. There were also job openings from employers like Wells Fargo and The Green Vine Corp..

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$14,000

$121,000

Salary Distribution
Washington – $79,985Rank: 2nd
The average salary ranks 2nd among states in the country. There were also job openings from employers like King County Metro Transit, King County, Department of Veterans Affairs, and Public Health – Seattle & King County.

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$36,000

$141,000

Salary Distribution

Top 20 National Finance Officer Employers

According to Indeed.com, the following states had employers looking to hire a Finance Officer. The quoted salary figure represents the average salary from all job postings by this employer.

Employer NameLocationAverage Salary
Robert Half Finance & Accounting Finance OfficerNew Jersey$173,241
Metro Wastewater Reclamation District Finance OfficerColorado$115,868
City of Long Beach, CA Finance OfficerCalifornia$112,077
Global Oil Trading Firm Finance OfficerTexas$110,000
City of Los Angeles Finance OfficerCalifornia$106,275
Accounting Career Network Finance OfficerTennessee$102,145
Pro-Partners Finance OfficerNew York$100,000
Lamont Public Utility District Finance OfficerCalifornia$98,679
U.S. Air Force Finance OfficerOhio$90,769
King County Metro Transit Finance OfficerWashington$90,534
The University of California Finance OfficerCalifornia$86,708
King County Finance OfficerWashington$86,029
Department of Veterans Affairs Finance OfficerWashington$84,062
Farm Credit Services of America, ACA Finance OfficerSouth Dakota$83,984
Public Health – Seattle & King County Finance OfficerWashington$83,156

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Henry Steele
Managing Editor
Henry is Managing Editor of BusinessStudent.com. He is a seasoned business professional who regularly consults with local business's throughout Southern California. Henry pursued his undergrad in Business and Economics at the University of San Diego and gained valuable life changing experience through a unique internship upon graduation.

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