Occupational Employment Statistics

DETAILED OCCUPATION DATA

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11-3031 Financial Managers

Occupational Description:
Plan, direct, or coordinate accounting, investing, banking, insurance, securities, and other financial activities of a branch, office, or department of an establishment.

Occupational Employment Statistics(OES) Wage Data
First Quarter 2024

Geography	Employment	Emp SE*	Percentiles
Geography	Employment	Emp SE*	Mean	10th	25th	Median	75th	90th
Southwest Minnesota	640	30	$65.89/hr	$38.31/hr	$46.97/hr	$57.48/hr	$78.78/hr	>$100/hr
Minnesota	16,400	656	$81.42/hr	$45.23/hr	$56.55/hr	$74.37/hr	$99.49/hr	>$100/hr
U S	787,340	7,873	$86.09/hr	$40.81/hr	$54.27/hr	$76.87/hr	>$100/hr

Leading Industries for Financial Managers

Industry	OES Employment (Statewide)	OES Median Wage (Statewide)
Natural Resources and Mining	N/A	N/A
Construction	330	$66.84/hr
Manufacturing	1,610	$81.38/hr
Trade, Transportation and Utilities	1,750	$68.11/hr
Information	300	$75.59/hr
Financial Activities	5,700	$76.11/hr
Professional and Business Services	4,130	$82.69/hr
Education and Health Services	1,340	$55.08/hr
Leisure and Hospitality	200	$58.33/hr
Other Services	240	$60.43/hr
Public Administration	800	$62.26/hr

Other Regional Data for Financial Managers

Geography	Employment	Median Wage	Projections % Change 2022-2032
Northeast Balance of State	150	$53.42/hr	N/A
Mankato-North Mankato MN MSA	180	$61.70/hr	N/A
Grand Forks ND-MN MSA	190	$62.33/hr	N/A
La Crosse WI-MN MSA	270	$62.29/hr	N/A
Rochester MN MSA	390	$64.42/hr	N/A
Duluth MN-WI MSA	440	$61.82/hr	N/A
Southwest Balance of State	440	$55.61/hr	N/A
St Cloud MN MSA	500	$65.70/hr	N/A
Northeast Minnesota	510	$59.15/hr	14.9%
Southeast Balance of State	530	$62.20/hr	N/A
Southwest Minnesota	640	$57.48/hr	13.7%
Northwest Balance of State	670	$54.39/hr	N/A
Northwest Minnesota	780	$55.59/hr	15.2%
Southeast Minnesota	800	$63.88/hr	15.7%
Fargo ND-MN MSA	820	$65.79/hr	N/A
Central Minnesota	1,080	$63.94/hr	18.0%
Seven County Mpls-St Paul, MN	11,870	$79.79/hr	16.4%
Minneapolis-St Paul-Bloomington MN-WI MSA	12,430	$79.48/hr	N/A
Minnesota	16,400	$74.37/hr	16.3%

Related Occupations

Occupations	Employment	Median Wage	Projections % Change 2022-2032
Accountants and Auditors	30,370	$38.52/hr	5.6%
Financial Specialists, All Other	1,050	$38.99/hr	6.3%
Financial Examiners	1,950	$43.11/hr	20.8%
Securities, Commodities, and Financial Services Sales Agents	7,830	$36.43/hr	6.2%
Budget Analysts	300	$41.91/hr	3.6%
Compensation and Benefits Managers	280	$68.09/hr	1.3%
Credit Analysts	1,660	$37.42/hr	-4.6%
Personal Financial Advisors	6,020	$48.72/hr	12.3%
First-Line Supervisors of Non-Retail Sales Workers	2,720	$39.24/hr	-1.9%
Loan Interviewers and Clerks	4,320	$24.06/hr	-3.2%

Task for Financial Managers

Oversee the flow of cash or financial instruments.
Supervise employees performing financial reporting, accounting, billing, collections, payroll, and budgeting duties.
Receive cash and checks and make deposits.
Receive, record, and authorize requests for disbursements in accordance with company policies and procedures.
Manage investment funds to maximize return on client investments.
Delegate authority for the receipt, disbursement, banking, protection, and custody of funds, securities, and financial instruments.
Develop or analyze information to assess the current or future financial status of firms.
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.
Monitor financial or operational performance of individual investments to ensure portfolios meet risk goals.
Establish and maintain relationships with individual or business customers or provide assistance with problems these customers may encounter.