Finance Manager vs. Financial Controller

Attribute	Finance Manager	Financial Controller
Responsibilities	Overseeing financial operations, preparing financial reports, managing budgets	Managing financial activities, ensuring compliance with regulations, analyzing financial data
Qualifications	Bachelor's degree in finance or related field, experience in finance	Bachelor's degree in accounting or finance, CPA certification
Salary	Median salary of $90,000 per year	Median salary of $110,000 per year
Reporting	Reports to the CFO or Finance Director	Reports to the CFO or CEO

Responsibilities

A Finance Manager is responsible for overseeing the financial health of an organization. They are in charge of financial planning, budgeting, and forecasting. They also analyze financial data, create financial reports, and make recommendations to senior management based on their findings. In addition, Finance Managers are often involved in strategic planning and decision-making processes.

On the other hand, a Financial Controller is primarily responsible for managing the accounting and financial reporting functions of a company. They ensure that financial statements are accurate and comply with regulations. Financial Controllers also oversee internal controls, manage audits, and work closely with external auditors. They play a key role in ensuring the financial integrity of the organization.

Qualifications

Finance Managers typically have a bachelor's degree in finance, accounting, or a related field. Many also hold professional certifications such as Certified Public Accountant (CPA) or Chartered Financial Analyst (CFA). They often have several years of experience in finance or accounting roles before moving into a managerial position.

Financial Controllers, on the other hand, usually have a bachelor's degree in accounting or finance. Many also have a master's degree in a related field. Financial Controllers often hold certifications such as CPA or Certified Management Accountant (CMA). They typically have extensive experience in accounting and financial reporting roles before becoming a Controller.

Skills

Finance Managers need strong analytical skills to interpret financial data and make strategic recommendations. They also need excellent communication skills to present their findings to senior management and other stakeholders. In addition, Finance Managers must have a solid understanding of financial principles and regulations.

Financial Controllers require strong attention to detail to ensure the accuracy of financial statements and compliance with regulations. They also need excellent organizational skills to manage multiple tasks and deadlines effectively. Financial Controllers must have a deep understanding of accounting principles and regulations.

Salary

The salary of a Finance Manager can vary depending on factors such as the size of the organization, industry, and location. According to the Bureau of Labor Statistics, the median annual wage for Financial Managers was $134,180 in May 2020. However, Finance Managers in larger organizations or in high-demand industries may earn significantly more.

Financial Controllers also have a wide range of salaries based on factors such as company size, industry, and location. According to the Bureau of Labor Statistics, the median annual wage for Financial Managers was $134,180 in May 2020. However, Financial Controllers in larger companies or in specialized industries may earn higher salaries.

Career Path

Finance Managers often start their careers in entry-level finance or accounting roles and work their way up to managerial positions. Some Finance Managers may also transition from other departments such as marketing or operations. With experience and additional education or certifications, Finance Managers may advance to higher-level executive roles.

Financial Controllers typically start their careers in accounting or financial reporting roles and gain experience in managing financial functions. Many Financial Controllers also hold certifications such as CPA or CMA to advance their careers. With experience and additional education, Financial Controllers may move into Chief Financial Officer (CFO) or other executive positions.