Jobs within the City can be highly pressured with long working hours. However, longer hours may be required depending on current deadlines and workload. Working hours are generally 9am to 5pm, five days a week, with some possible flexibility. The private sector, most notably the banking and capital markets sector and particularly organisations based in the City, pays more than the public sector. The highest salaries tend to be in London and the surrounding areas. Salaries vary widely according to the type, sector, size and location of the employing organisation. Some companies may pay higher salaries while others offer a lower basic pay with additional high bonuses. Senior financial managers, with around 10+ years' experience, earn £65,000 to £115,000+.Qualified, mid-level finance managers with 5-10 years' experience usually earn an average of £55,000 to £65,000.Starting salaries are between £25,000 to £35,000, though can be as high as £45,000 in the investment banking sector.keep abreast of changes in financial regulations and legislation.arrange new sources of finance for a company's debt facilities.produce accurate financial reports to specific deadlines.auditors, solicitors, bankers and statutory organisations such as the Inland Revenue

develop external relationships with appropriate contacts, e.g.liaise with auditors to ensure annual monitoring is carried out.manage financial accounting, monitoring and reporting systems.conduct reviews and evaluations for cost-reduction opportunities.develop financial management mechanisms that minimise financial risk.research and report on factors influencing business performance.formulate strategic and long-term business plans.monitor and interpret cash flows and predict future trends.provide and interpret financial information.In larger companies for instance, the role is more concerned with strategic analysis, while in smaller organisations, a financial manager may be responsible for the collection and preparation of accounts. Responsibilitiesįinancial manager roles can vary enormously. You may be employed in many environments including both public and private sector organisations, such as:įinancial managers may also be known as financial analysts or business analysts. In addition, care must be taken to ensure that financial practices are in line with all statutory legislation and regulations. Financial managers provide financial guidance and support to clients and colleagues so they can make sound business decisionsĪs a financial manager, you'll need a good head for figures and for dealing with complex modelling and analysis, as well as a sound grasp of financial systems and procedures.Ĭlear budgetary planning is essential for both the short and long term, and companies need to know the financial implications of any decision before proceeding.

Financial manager definition