Finance Managers plan, organise, direct, control and coordinate the financial and accounting activities within organisations.

A Bachelor Degree or higher, or at least 5 years of relevant experience is usually needed to work in this job. Around three quarters of workers have a university degree.

Tasks

  • determining, implementing, monitoring, reviewing and evaluating budgetary and accounting strategies, policies and plans in consultation with other Managers
  • providing financial information and interpreting the implications for business performance and funding needs
  • coordinating the development, implementation and monitoring of accounting systems
  • directing the preparation of financial reports summarising and forecasting the organisation's financial position such as income statements, balance sheets and analyses of future earnings and income
  • assessing capital finance proposals and the financial status of operational projects
  • advising on investment strategies, sources of funds and the distribution of earnings
  • delivering long range profit forecasts, budgeting and financial reporting
  • ensuring compliance with financial legislation and standards

Job Titles

  • Finance Manager
  • Finance Manager (also called Chief Financial Officer, Finance Director, or Financial Controller)

    Specialisations: Financial Administrator

Fast Facts

  • $2,073 Weekly Pay
  • 58,700 workers Employment Size
  • Strong Future Growth
  • Very high skill Skill level rating
  • Lower unemployment Unemployment
  • 89.0% Full-Time Full-Time Share
  • 41.3 hours Average full-time
  • 46 years Average age
  • 44.4% female Gender Share

The number of Finance Managers grew very strongly over the past 5 years and is expected to grow strongly over the next 5 years:
from 58,700 in 2018 to 63,500 by 2023.
Job openings can come from new jobs being created, but most come from turnover (workers leaving).
There are likely to be around 45,000 job openings over 5 years (that's about 9,000 a year).

  • Size: This is a very large occupation.
  • Unemployment: Unemployment was below average in 2017.
  • Location: Finance Managers work in most regions of Australia.
  • Industries: They work in many industries such as Financial and Insurance Services; Professional, Scientific and Technical Services; and Manufacturing.
  • Earnings: Full-time workers earn around $2,073 per week (very high compared to the all jobs average of $1,230). Earnings tend to be lower when starting out and higher as experience grows.
  • Full-time: Most work full-time (89%, much higher than the all jobs average of 68.4%).
  • Hours: Full-time workers spend around 41.3 hours per week at work (compared to the all jobs average of 40.0 hours).
  • Age: The average age is 46 years (compared to the all jobs average of 40 years). Many workers are 45 years or older (55.6%).
  • Gender: 44.4% of workers are female (compared to the all jobs average of 46.7%).

Employment Outlook

Number of Workers

Source: ABS Labour Force Survey, Department of Jobs and Small Business trend data to May 2018 and Department of Jobs and Small Business projections to 2023.
YearNumber of Workers
200849200
200946700
201043900
201144700
201252800
201347000
201450200
201557300
201654700
201752600
201858700
202363500

Weekly Earnings

Weekly Earnings (Before Tax)

Source: Based on ABS Characteristics of Employment survey, August 2015, Cat. No. 6333.0, Customised Report. Median earnings are before tax and do not include superannuation. Earnings can vary greatly depending on the skills and experience of the worker and the demands of the role. These figures should be used as a guide only, not to determine a wage rate.
EarningsFinance ManagersAll Jobs Average
Full-Time Earnings20731230

Main Industries

Main Employing Industries (% Share)

Source: Based on ABS Labour Force Survey, annual average 2017, Cat. No. 6291.0.55.003: Customised Report. Industries are based on the Australian and New Zealand Standard Industrial Classification (ANZSIC 06).
Main Employing IndustriesIndustry (% share)
Financial and Insurance Services21.0
Professional, Scientific and Technical Services13.0
Manufacturing8.9
Public Administration and Safety7.3
Other Industries49.8

States and Territories

  • NSW

  • VIC

  • QLD

  • SA

  • TAS

  • NT

  • ACT

Employment by State and Territory (% Share)

Source: Based on ABS Labour Force Survey, annual average 2017, Cat. No. 6291.0.55.003: Customised Report. Share of workers across Australian States and Territories, in this job compared to the all jobs average.
StateFinance ManagersAll Jobs Average
NSW36.931.6
VIC28.026.2
QLD15.519.7
SA6.06.7
WA9.710.8
TAS1.12.0
NT1.01.1
ACT1.91.8

Age Profile

Age Profile (% Share)

Source: Based on ABS Labour Force Survey, annual average 2017, Cat. No. 6291.0.55.003: Customised Report. Age profile of workers in this job compared to the all jobs average.
Age BracketFinance ManagersAll Jobs AverageAll Jobs Average
15-190.0-5.25.2
20-241.5-9.99.9
25-3410.4-23.623.6
35-4432.5-21.721.7
45-5430.6-20.820.8
55-5913.9-8.88.8
60-646.5-6.06.0
65 and Over4.6-4.04.0

Education Level

Highest Level of Education (% Share)

Source: ABS, Education and Work (2016). Findings based on use of ABS TableBuilder data. Highest qualification completed by workers in this job (in any field of study). Skill level requirements can change over time, the qualifications needed by new workers might be different from the qualifications of workers already in the job.
Type of QualificationFinance ManagersAll Jobs AverageAll Jobs Average
Post Graduate/Graduate Diploma or Graduate Certificate23.5-8.68.6
Bachelor degree48.7-17.917.9
Advanced Diploma/Diploma7.1-10.110.1
Certificate III/IV3-18.918.9
Year 1211.2-18.718.7
Years 11 & 106.5-17.717.7
Below Year 100-8.18.1

A Bachelor Degree or higher, or at least 5 years of relevant experience is usually needed to work in this job.
Around three quarters of workers have a university degree.

Before starting a course, check it will provide you with the skills and qualifications you need.

  • Compare undergraduate and postgraduate student experiences and outcomes on the QILT website.
  • Compare Vocational Education and Training (VET) courses, providers and student outcomes on the My Skills website.
  • You might be interested in Financial Services VET training pathways on the AAPathways website.

The course listings on this page are provided by Good Education Group.

Employers look for Finance Managers who can communicate clearly, have strong interpersonal skills and pay attention to detail.

Knowledge

These are important topics, subjects or knowledge areas.

  1. Economics and Accounting

    96% Important

    Economics and accounting, the financial markets, banking and checking and reporting of financial data.

  2. Administration and Management

    84% Important

    Planning and coordination of people and resources.

  3. Mathematics

    80% Important

    Arithmetic, algebra, geometry, calculus, or statistics.

  4. English Language

    79% Important

    English language including the meaning and spelling of words, rules of composition, and grammar.

  5. Law and Government

    71% Important

    How our laws and courts work. Government rules and regulations, and the political system.

Occupational Information Network
O*NET is a trademark of the U.S. Department of Labor, Employment and Training Administration.
The importance ratings on this page are derived from the US Department of Labor O*NET Database Version 21.2, 11-3031.01 - Treasurers and Controllers.

Learn about the daily activities, and physical and social demands faced by workers. Explore the values and work styles that workers rate as most important.

Activities

These are kinds of activities workers regularly do in this job.

  1. Making Decisions and Solving Problems

    93% Important

    Using information to work out the best solution and solve problems.

  2. Getting Information

    91% Important

    Looking for, getting and understanding different kinds of information.

  3. Analyzing Data or Information

    90% Important

    Looking at, working with, and understanding data or information.

  4. Processing Information

    90% Important

    Compiling, coding, categorizing, calculating, tabulating, auditing, or checking information or data.

  5. Communicating with Supervisors, Peers, or Staff

    87% Important

    Giving information to supervisors, co-workers, and staff by telephone, in written form, e-mail, or in person.

Occupational Information Network
O*NET is a trademark of the U.S. Department of Labor, Employment and Training Administration.
The importance ratings on this page are derived from the US Department of Labor O*NET Database Version 21.2, 11-3031.01 - Treasurers and Controllers.

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