Occupational Employment Statistics

DETAILED OCCUPATION DATA

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 2023

Geography	Employment	Emp SE*	Percentiles
Geography	Employment	Emp SE*	Mean	10th	25th	Median	75th	90th
Northwest Minnesota	670	29	$60.54/hr	$33.53/hr	$40.85/hr	$52.02/hr	$70.30/hr	$94.36/hr

Leading Industries for Financial Managers

Industry	OES Employment (Statewide)	OES Median Wage (Statewide)
Natural Resources and Mining	20	$63.16/hr
Construction	330	$60.88/hr
Manufacturing	1,790	$72.74/hr
Trade, Transportation and Utilities	1,510	$67.90/hr
Information	300	$73.36/hr
Financial Activities	5,600	$64.61/hr
Professional and Business Services	3,030	$80.47/hr
Education and Health Services	1,240	$51.37/hr
Leisure and Hospitality	180	$51.58/hr
Other Services	270	$60.20/hr
Public Administration	710	$59.65/hr

Other Regional Data for Financial Managers

Geography	Employment	Median Wage	Projections % Change 2020-2030
Northeast Balance of State	130	$49.93/hr	N/A
Grand Forks ND-MN MSA	170	$62.49/hr	N/A
Mankato-North Mankato MN MSA	170	$55.56/hr	N/A
La Crosse WI-MN MSA	180	$60.22/hr	N/A
Rochester MN MSA	350	$59.27/hr	N/A
St Cloud MN MSA	410	$58.82/hr	N/A
Duluth MN-WI MSA	420	$54.49/hr	N/A
Southwest Balance of State	430	$50.63/hr	N/A
Southeast Balance of State	480	$59.17/hr	N/A
Northeast Minnesota	490	$51.46/hr	16.1%
Northwest Balance of State	560	$52.17/hr	N/A
Southwest Minnesota	620	$51.25/hr	17.2%
Fargo ND-MN MSA	670	$61.55/hr	N/A
Northwest Minnesota	670	$52.02/hr	18.5%
Southeast Minnesota	720	$59.42/hr	15.5%
Central Minnesota	920	$57.89/hr	15.9%
Seven County Mpls-St Paul, MN	11,130	$67.98/hr	15.0%
Minneapolis-St Paul-Bloomington MN-WI MSA	11,600	$67.42/hr	N/A
Minnesota	14,990	$65.23/hr	15.5%

Related Occupations

Occupations	Employment	Median Wage	Projections % Change 2020-2030
Accountants and Auditors	28,730	$37.36/hr	4.4%
Financial Specialists, All Other	1,460	$37.13/hr	N/A
Financial Examiners	2,120	$42.06/hr	N/A
Securities, Commodities, and Financial Services Sales Agents	8,560	$36.33/hr	6.7%
Budget Analysts	330	$40.06/hr	3.1%
Compensation and Benefits Managers	390	$65.18/hr	N/A
Credit Analysts	1,930	$38.88/hr	-5.3%
Personal Financial Advisors	6,740	$41.89/hr	4.9%
First-Line Supervisors of Non-Retail Sales Workers	2,720	$42.57/hr	-3.3%
Loan Interviewers and Clerks	5,160	$23.77/hr	-2.0%

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.