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

Also known as: Chief Financial Officer, Finance Director, or Financial Controller.

Specialisations: Financial Administrator.

You usually need a formal qualification in business, commerce or accounting to work as a Finance Manager. Finance Managers often have university qualifications.

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

All Finance Managers

  • $2,286 Weekly Pay
  • Strong Future Growth
  • Lower unemployment Unemployment
  • 58,700 workers Employment Size
  • Very high skill Skill level rating
  • 86% Full-Time Full-Time Share
  • 46 hours Average full-time
  • 45 years Average age
  • 46% female Gender Share

The number of people working as Finance Managers (in their main job) 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 2018.
  • Location: Finance Managers work in many parts of Australia. New South Wales has a large share of workers.
  • Industries: They work in many industries such as Financial and Insurance Services; Professional, Scientific and Technical Services; and Manufacturing.
  • Earnings: Full-time workers on an adult wage earn around $2,286 per week (very high compared to the average of $1,460). Earnings tend to be lower when starting out and higher as experience grows.
  • Full-time: Most work full-time (86%, much higher than the average of 66%).
  • Hours: Full-time workers spend around 46 hours per week at work (compared to the average of 44 hours).
  • Age: The average age is 45 years (compared to the average of 40 years).
  • Gender: 46% of workers are female (compared to the average of 48%).

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 Survey of Employee Earnings and Hours (cat. no. 6306.0), May 2018, Customised Report. Median weekly total cash earnings for full-time non-managerial employees paid at the adult rate. Earnings are before tax and include amounts salary sacrificed. 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 Earnings22861460

Main Industries

Main Employing Industries (% Share)

Source: Based on ABS Census 2016, Customised Report. Industries are based on the Australian and New Zealand Standard Industrial Classification (ANZSIC 06).
Main Employing IndustriesIndustry (% share)
Financial and Insurance Services19.3
Professional, Scientific and Technical Services12.1
Manufacturing8.4
Public Administration and Safety7.4
Other Industries52.8

States and Territories

  • NSW

  • VIC

  • QLD

  • SA

  • TAS

  • NT

  • ACT

Employment by State and Territory (% Share)

Source: Based on Based on ABS Census 2016, Customised Report. Share of workers across Australian States and Territories, in this job compared to the all jobs average.
StateFinance ManagersAll Jobs Average
NSW39.031.6
VIC26.825.6
QLD14.720.0
SA5.57.0
WA9.210.8
TAS1.22.0
NT0.81.0
ACT2.81.9

Age Profile

Age Profile (% Share)

Source: Based on Based on ABS Census 2016, Customised Report. Age profile of workers in this job compared to the all jobs average.
Age BracketFinance ManagersAll Jobs AverageAll Jobs Average
15-190.0-5.05.0
20-240.6-9.39.3
25-3415.5-22.922.9
35-4433.9-22.022.0
45-5430.9-21.621.6
55-599.9-9.09.0
60-645.5-6.06.0
65 and Over3.7-4.24.2

Education Level

Highest Level of Education (% Share)

Source: ABS, ABS Census 2016, Customised Report. Highest qualification completed by workers in this job (in any field of study). 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 Certificate23.5-10.110.1
Bachelor degree48.5-21.821.8
Advanced Diploma/Diploma10.9-11.611.6
Certificate III/IV4.1-21.121.1
Year 128.3-18.118.1
Year 111.7-4.84.8
Year 10 and below2.8-12.512.5

You usually need a formal qualification in business, commerce or accounting to work as a Finance Manager. Finance Managers often have university qualifications.

Thinking about study or training?

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

  • Search and compare thousands of higher education courses, and their entry requirements from different institutions across Australia at Course Seeker website.
  • 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.

Or check out related courses on Job Outlook.

Useful links and resources


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.

Filter Skills & Knowledge

Knowledge

These are important topics, subjects or knowledge areas.

  1. Economics and Accounting

    89% Skill level

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

  2. Administration and Management

    85% Skill level

    Business principles involved in strategic planning, leadership, and coordinating people and resources.

  3. Mathematics

    73% Skill level

    Arithmetic, algebra, geometry, calculus, or statistics.

  4. Personnel and Human Resources

    63% Skill level

    Recruiting and training people, managing pay and other entitlements (like sick leave), and negotiating pay and conditions.

  5. English Language

    61% Skill level

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

Occupational Information Network
O*NET is a trademark of the U.S. Department of Labor, Employment and Training Administration.
The skills and 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.

Filter Work Environment

Demands

The physical and social demands workers face most often are shown below.

  1. Indoors, Heat Controlled

    100% Important

    How often do you work indoors with access to heating or cooling?

  2. Electronic Mail

    99% Important

    How often do you use electronic mail?

  3. Telephone

    99% Important

    How often do you talk on the telephone?

  4. Face-to-Face Discussions

    99% Important

    How often do you talk with people face-to-face?

  5. Spend Time Sitting

    93% Important

    How much time do you spend sitting?

Occupational Information Network
O*NET is a trademark of the U.S. Department of Labor, Employment and Training Administration.
The skills and 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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