Job Spotlights
How to become a Financial Manager
Financial managers oversee organisations' financial health and strategy. They develop budgets, create financial reports, analyse market trends, and implement strategies to maintain financial stability and growth. They work with executive teams to make informed business decisions while ensuring compliance with financial regulations.
If you're analytically minded, love working with numbers and data, and enjoy leading teams, this could be an ideal career to explore further.
What skills do I need as a financial manager?
- Advanced analytical & mathematical abilities
- Strategic thinking & decision-making skills
- Leadership & team management capabilities
- Strong technological proficiency
- Excellent communication skills
- Detail-oriented mindset
- Risk management expertise
- Regulatory compliance knowledge
What does the job involve?
- Developing & managing budgets
- Creating financial forecasts & projections
- Analysing market trends & opportunities
- Preparing detailed financial reports
- Leading financial strategy & planning
- Managing financial risks & compliance
- Advising on business decisions
- Overseeing financial operations & teams
What industries do financial managers typically work in?
- Financial & Insurance Services
- Professional, Scientific & Technical Services
What kind of lifestyle can I expect?
Financial managers typically work in office environments with some travel required for meetings and presentations. The role comes with significant responsibility and often requires working beyond standard business hours.
Many financial managers earn an above average salary throughout their career, though this can vary by industry and experience. Future career growth prospects are strong.
Most financial managers work full-time, with part-time opportunities being limited. Full-time workers average 46 hours per week, just above the standard work week.
How to become a financial manager
A university degree in finance, accounting, business, or economics is typically required to work as a financial manager. While it's possible to enter the field without formal qualifications, this path requires extensive relevant work experience.
Key degrees to consider include:
- Bachelor of Finance
- Bachelor of Business
- Bachelor of Economics
- Master of Financial Management
- Master of Accounting and Financial Management
Internships and cadetships are a great way to gain work experience during your studies. Many large organisations also offer graduate programs targeted to students who have recently finished their degree and are looking for a way to break into the industry.
You will also likely need to engage in further training and professional development throughout your career to keep up to date with regulatory changes and industry advancements.
What can I do right now to work towards this career?
If you're in high school and interested in becoming a financial manager, here are some steps you can take:
- Focus on subjects like Mathematics, English, Economics, and Business Studies at school.
- Develop your technology skills, particularly with spreadsheets and financial software.
- Join business or finance clubs at school, or practice leadership skills through school activities or community organisations.
- Consider part-time work in banking or retail to gain experience with money handling.
Where can I find more information?
Similar careers to financial manager
- Accountant
- Bookkeeper
- Insurance Broker
- Banker
- Financial Planner
- Asset Manager
- Financial Analyst
- Economist
- Manager
Find out more about alternative careers on our Job Spotlights page.