CareerGPS

Financial Managers, Branch or Department
Summary Occupational Forecast Data for Financial Managers
Employment Employment Change Average Annual Job Openings Wage & Training Levels
2018 2023 Numerical Percent New Jobs Replacement Jobs Total Median Hourly Median Annual Training Levels
4,593 5,195 602 13.11% 120 360 480 $46.03 $95,732 Bachelor's degree
Description: Direct and coordinate financial activities of workers in a branch, office, or department of an establishment, such as branch bank, brokerage firm, risk and insurance department, or credit department.
Staffing Pattern Data Forecast Data Source: EMSI (2nd Quarter 2018)

Occupation Details

The information in this section represents occupational characteristics included in O*NET which defines key features of an occupation as a standardized, measurable set of variables called "descriptors". These distinguishing characteristics of an occupation are described in greater detail in the O*NET Content Model. All items are listed in descending order of importance.

  • Establish and maintain relationships with individual or business customers or provide assistance with problems these customers may encounter.
  • Examine, evaluate, or process loan applications.
  • Plan, direct, or coordinate the activities of workers in branches, offices, or departments of establishments, such as branch banks, brokerage firms, risk and insurance departments, or credit departments.
  • Oversee the flow of cash or financial instruments.
  • Recruit staff members and oversee training programs.

Knowledge

89%
Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
84%
Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
78%
English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
74%
Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
74%
Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
74%
Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
73%
Sales and Marketing - Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
67%
Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
66%
Personnel and Human Resources - Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
65%
Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
59%
Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.

Skills

85%
Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
85%
Speaking - Talking to others to convey information effectively.
78%
Writing - Communicating effectively in writing as appropriate for the needs of the audience.
75%
Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
75%
Monitoring - Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
75%
Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
75%
Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
72%
Time Management - Managing one's own time and the time of others.
69%
Service Orientation - Actively looking for ways to help people.
69%
Persuasion - Persuading others to change their minds or behavior.
69%
Coordination - Adjusting actions in relation to others' actions.
69%
Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.
69%
Management of Personnel Resources - Motivating, developing, and directing people as they work, identifying the best people for the job.
65%
Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
65%
Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.
62%
Learning Strategies - Selecting and using training/instructional methods and procedures appropriate for the situation when learning or teaching new things.
60%
Systems Analysis - Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
56%
Instructing - Teaching others how to do something.
56%
Negotiation - Bringing others together and trying to reconcile differences.
56%
Systems Evaluation - Identifying measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system.
50%
Mathematics - Using mathematics to solve problems.

Abilities

88%
Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
85%
Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
85%
Written Comprehension - The ability to read and understand information and ideas presented in writing.
81%
Written Expression - The ability to communicate information and ideas in writing so others will understand.
78%
Speech Recognition - The ability to identify and understand the speech of another person.
78%
Speech Clarity - The ability to speak clearly so others can understand you.
75%
Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
75%
Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
75%
Near Vision - The ability to see details at close range (within a few feet of the observer).
72%
Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
66%
Fluency of Ideas - The ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity).
62%
Information Ordering - The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
62%
Originality - The ability to come up with unusual or clever ideas about a given topic or situation, or to develop creative ways to solve a problem.
62%
Mathematical Reasoning - The ability to choose the right mathematical methods or formulas to solve a problem.
60%
Number Facility - The ability to add, subtract, multiply, or divide quickly and correctly.
56%
Selective Attention - The ability to concentrate on a task over a period of time without being distracted.
56%
Category Flexibility - The ability to generate or use different sets of rules for combining or grouping things in different ways.
50%
Time Sharing - The ability to shift back and forth between two or more activities or sources of information (such as speech, sounds, touch, or other sources).
50%
Perceptual Speed - The ability to quickly and accurately compare similarities and differences among sets of letters, numbers, objects, pictures, or patterns. The things to be compared may be presented at the same time or one after the other. This ability also includes compa
50%
Memorization - The ability to remember information such as words, numbers, pictures, and procedures.

Work Activities

97%
Getting Information - Observing, receiving, and otherwise obtaining information from all relevant sources.
94%
Selling or Influencing Others - Convincing others to buy merchandise/goods or to otherwise change their minds or actions.
91%
Interacting With Computers - Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
90%
Establishing and Maintaining Interpersonal Relationships - Developing constructive and cooperative working relationships with others, and maintaining them over time.
88%
Performing for or Working Directly with the Public - Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.
85%
Making Decisions and Solving Problems - Analyzing information and evaluating results to choose the best solution and solve problems.
83%
Communicating with Persons Outside Organization - Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
82%
Identifying Objects, Actions, and Events - Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
82%
Organizing, Planning, and Prioritizing Work - Developing specific goals and plans to prioritize, organize, and accomplish your work.
79%
Documenting/Recording Information - Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
78%
Communicating with Supervisors, Peers, or Subordinates - Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
77%
Developing and Building Teams - Encouraging and building mutual trust, respect, and cooperation among team members.
76%
Monitor Processes, Materials, or Surroundings - Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.
76%
Evaluating Information to Determine Compliance with Standards - Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
76%
Processing Information - Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
75%
Updating and Using Relevant Knowledge - Keeping up-to-date technically and applying new knowledge to your job.
74%
Judging the Qualities of Things, Services, or People - Assessing the value, importance, or quality of things or people.
73%
Provide Consultation and Advice to Others - Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.
73%
Interpreting the Meaning of Information for Others - Translating or explaining what information means and how it can be used.
72%
Analyzing Data or Information - Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
69%
Guiding, Directing, and Motivating Subordinates - Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.
67%
Coaching and Developing Others - Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.
67%
Training and Teaching Others - Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.
67%
Thinking Creatively - Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.
67%
Scheduling Work and Activities - Scheduling events, programs, and activities, as well as the work of others.
62%
Coordinating the Work and Activities of Others - Getting members of a group to work together to accomplish tasks.
61%
Developing Objectives and Strategies - Establishing long-range objectives and specifying the strategies and actions to achieve them.
56%
Resolving Conflicts and Negotiating with Others - Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.
54%
Assisting and Caring for Others - Providing personal assistance, medical attention, emotional support, or other personal care to others such as coworkers, customers, or patients.
Title Job Zone Four: Considerable Preparation Needed
Overall Experience A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
Job Training Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Job Zone Examples Many of these occupations involve coordinating, supervising, managing, or training others. Examples include accountants, sales managers, database administrators, teachers, chemists, environmental engineers, criminal investigators, and special agents.
Education Most of these occupations require a four-year bachelor's degree, but some do not.

Interests

Enterprising - Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
Conventional - Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
Social - Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.

Work Styles

Integrity - Job requires being honest and ethical.
Attention to Detail - Job requires being careful about detail and thorough in completing work tasks.
Dependability - Job requires being reliable, responsible, and dependable, and fulfilling obligations.
Self Control - Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
Leadership - Job requires a willingness to lead, take charge, and offer opinions and direction.
Cooperation - Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
Achievement/Effort - Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
Social Orientation - Job requires preferring to work with others rather than alone, and being personally connected with others on the job.
Independence - Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
Initiative - Job requires a willingness to take on responsibilities and challenges.
Stress Tolerance - Job requires accepting criticism and dealing calmly and effectively with high stress situations.
Innovation - Job requires creativity and alternative thinking to develop new ideas for and answers to work-related problems.

Work Values

Working Conditions - Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.
Independence - Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
Recognition - Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious. Corresponding needs are Advancement, Authority, Recognition and Social Status.
Achievement - Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.
Relationships - Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.
Support - Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.