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financial planning and analysis manager salary
Table of Contents
Financial planning and analysis managers are responsible for developing and implementing financial plans for their organizations. They also analyze financial data and provide recommendations to senior management on how to improve financial performance. The average salary for a financial planning and analysis manager is $111,850, but salaries can vary depending on experience, education, and location.
- Average salary: $111,850
- Experience: 5-10 years
- Education: Bachelor’s degree in finance or accounting
- Location: New York City, NY
Financial planning and analysis managers with more experience and education can earn higher salaries. Those who work in large metropolitan areas, such as New York City, also tend to earn higher salaries than those who work in smaller cities.
Average salary: $111,850
The average salary for a financial planning and analysis manager is $111,850. However, salaries can vary depending on a number of factors, including experience, education, and location.
Financial planning and analysis managers with more experience can earn higher salaries. For example, those with 5-10 years of experience can earn an average salary of $122,550, while those with 10-15 years of experience can earn an average salary of $134,950.
Financial planning and analysis managers with more education can also earn higher salaries. For example, those with a master’s degree in finance or accounting can earn an average salary of $126,300, while those with a doctorate in finance or accounting can earn an average salary of $140,500.
Financial planning and analysis managers who work in large metropolitan areas, such as New York City, also tend to earn higher salaries than those who work in smaller cities. For example, financial planning and analysis managers in New York City can earn an average salary of $135,000, while those in smaller cities can earn an average salary of $105,000.
It is important to note that these are just averages, and salaries can vary depending on a number of other factors, such as the size of the company, the industry, and the specific job duties.
Experience: 5-10 years
Financial planning and analysis managers with 5-10 years of experience can earn an average salary of $122,550. This is higher than the average salary for all financial planning and analysis managers, which is $111,850.
There are a number of factors that can affect the salary of a financial planning and analysis manager with 5-10 years of experience, including the size of the company, the industry, and the specific job duties.
For example, financial planning and analysis managers who work for large companies tend to earn higher salaries than those who work for small companies. Additionally, financial planning and analysis managers who work in the financial services industry tend to earn higher salaries than those who work in other industries.
Finally, financial planning and analysis managers who have more experience in specific job duties, such as financial modeling or investment analysis, can also earn higher salaries.
It is important to note that these are just averages, and salaries can vary depending on a number of other factors, such as the location and the specific skills and experience of the individual.
Education: Bachelor’s degree in finance or accounting
A bachelor’s degree in finance or accounting is the minimum educational requirement for most financial planning and analysis manager positions. However, many employers prefer candidates with a master’s degree in finance, accounting, or a related field.
- Bachelor’s degree in finance
A bachelor’s degree in finance provides students with a strong foundation in the principles of finance, including financial accounting, corporate finance, and investments. This degree is a good choice for students who are interested in a career in financial planning and analysis.
- Bachelor’s degree in accounting
A bachelor’s degree in accounting provides students with a strong foundation in the principles of accounting, including financial accounting, cost accounting, and auditing. This degree is a good choice for students who are interested in a career in financial planning and analysis, especially those who want to focus on the accounting aspects of the role.
- Master’s degree in finance or accounting
A master’s degree in finance or accounting can provide students with a competitive advantage in the job market. A master’s degree can also help students to develop the specialized skills and knowledge that are needed for a successful career in financial planning and analysis.
- Other relevant degrees
In some cases, employers may also consider candidates with a bachelor’s degree in a related field, such as economics, mathematics, or statistics. However, these candidates may need to have additional experience or education in finance or accounting to be considered for financial planning and analysis manager positions.
It is important to note that the specific educational requirements for financial planning and analysis manager positions can vary depending on the employer. Some employers may prefer candidates with a specific degree, while others may be more flexible. It is always best to check with the specific employer to determine their educational requirements.
Location: New York City, NY
Financial planning and analysis managers who work in New York City, NY can earn an average salary of $135,000. This is higher than the average salary for all financial planning and analysis managers, which is $111,850.
There are a number of reasons why financial planning and analysis managers in New York City earn higher salaries than those in other parts of the country. First, New York City is a major financial center, and there is a high demand for financial professionals in the city.
Second, the cost of living in New York City is higher than in many other parts of the country. This means that employers need to pay higher salaries to attract and retain qualified financial planning and analysis managers.
Finally, New York City is home to a number of large financial institutions, which tend to pay higher salaries than smaller companies.
It is important to note that these are just averages, and salaries can vary depending on a number of other factors, such as the size of the company, the industry, and the specific job duties.
FAQ
Here are some frequently asked questions about financial planning and analysis manager salary:
Question 1: What is the average salary for a financial planning and analysis manager?
Answer 1: The average salary for a financial planning and analysis manager is $111,850.
Question 2: What are the factors that affect financial planning and analysis manager salary?
Answer 2: The factors that affect financial planning and analysis manager salary include experience, education, location, and the size and industry of the company.
Question 3: What is the job outlook for financial planning and analysis managers?
Answer 3: The job outlook for financial planning and analysis managers is expected to be good over the next few years.
Question 4: What are the skills and qualifications needed to become a financial planning and analysis manager?
Answer 4: The skills and qualifications needed to become a financial planning and analysis manager include a bachelor’s degree in finance or accounting, strong analytical skills, and experience in financial planning and analysis.
Question 5: What are the career paths for financial planning and analysis managers?
Answer 5: Financial planning and analysis managers can advance to positions such as chief financial officer (CFO) or controller.
Question 6: What are the benefits of working as a financial planning and analysis manager?
Answer 6: The benefits of working as a financial planning and analysis manager include a competitive salary, good job security, and the opportunity to work in a challenging and rewarding field.
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These are just a few of the frequently asked questions about financial planning and analysis manager salary. If you have any other questions, please feel free to contact a financial planning and analysis manager or a human resources professional.
Now that you know more about financial planning and analysis manager salary, you can start to think about how to increase your salary. Here are a few tips:
Tips
Here are a few tips for increasing your financial planning and analysis manager salary:
Tip 1: Get certified. There are a number of professional certifications that can help you to increase your salary, such as the Certified Financial Planner (CFP) and the Chartered Financial Analyst (CFA).
Tip 2: Get an MBA. An MBA can also help you to increase your salary, especially if you are interested in moving into a management position.
Tip 3: Gain experience. The more experience you have, the more valuable you will be to potential employers. Try to get experience in a variety of areas, such as financial planning, investment analysis, and budgeting.
Tip 4: Network. Networking is a great way to meet potential employers and learn about job openings. Attend industry events and join professional organizations.
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By following these tips, you can increase your chances of getting a higher salary as a financial planning and analysis manager.
Now that you know more about financial planning and analysis manager salary and how to increase your salary, you can start to plan your career.
Conclusion
Financial planning and analysis managers are responsible for developing and implementing financial plans for their organizations. They also analyze financial data and provide recommendations to senior management on how to improve financial performance.
The average salary for a financial planning and analysis manager is $111,850, but salaries can vary depending on experience, education, location, and the size and industry of the company.
There are a number of things that you can do to increase your financial planning and analysis manager salary, such as getting certified, getting an MBA, gaining experience, and networking.
By following these tips, you can increase your chances of getting a higher salary as a financial planning and analysis manager.
Closing Message
Financial planning and analysis is a challenging and rewarding career. If you are interested in a career in this field, it is important to do your research and learn as much as you can about the profession. You should also network with other financial planning and analysis professionals and get involved in professional organizations.