Finance Manager
Finance managers lead an organisation's finance function, running the budgeting, reporting and controls that its decisions rest on.
- Median salary
- $151,000
3.9%vs last year, before tax
- People employed
- 77,900
1.8%vs last year
- Projected growth
- +21.9%
to 2035
- AI exposure*
- Low
- automation risk
- Average hours
- 45/wk
+5h vs all jobs
- Shortage status
- Not in shortage
national
Finance managers work inside larger businesses, government agencies and not-for-profits, usually heading a small team of accountants and analysts. The role sits between hands-on accounting and executive leadership: a financial controller owns the accuracy of the records, while a finance manager is expected to interpret those numbers and recommend what the business should do next. Most work in financial services, professional services or manufacturing.
How much do finance managers earn?
The median full-time salary for a finance manager is $151,000 per annum, before tax, up $31,400 since 2018.
Industry moves finance manager pay more than anything else: financial services, mining and professional services pay above the average, while not-for-profits and smaller manufacturers pay below it. Bonuses tied to company or individual performance can add a meaningful amount on top of base salary, which is why two people with the same title can earn quite differently. Holding a CA or CPA qualification and managing a larger team both tend to push pay up.
What does a finance manager do day to day?
The list below is what fills most weeks; the exact mix shifts with seniority and whatever stage the current work is at.
- Building budgets and forecasts that hold up when executives question the assumptions behind them
- Closing the books each month and explaining the variances to leadership
- Watching cash flow and banking relationships closely enough to head off a shortfall
- Managing and developing a finance team while still doing hands-on analysis yourself
- Juggling requests from different parts of the business that all arrive with the same deadline
What skills do finance managers need?
Employers look for financial reporting, budgeting and forecasting, management accounting, backed by Excel fluency and strong people leadership.
Specialist skills
- Financial reporting
- Budgeting and forecasting
- Management accounting
- Risk and internal controls
- Strategy development
Software and tools
- Excel
- SAP
- Power BI
- Workday
General skills
- People leadership
- Stakeholder management
Is the job growing?
About 77,900 people work as finance managers in Australia, and employment is projected to grow 21.9% over the decade to 2035. That's very strong growth. Few roles in Australia are expanding this fast, and it points to solid demand for years to come.
How do you become a finance manager?
Here's the path most finance managers take, step by step.
- 1Complete a degree in accounting, finance or commerce
Employers hiring into finance management generally expect a degree, which is also the entry requirement for the professional qualification that follows. Of the finance managers working today, 48% hold a bachelor degree, and a further group hold a postgraduate qualification.
- 2Start in an accounting or analyst role
Graduate accountant, assistant accountant and financial analyst positions build the reporting, reconciliation and analysis skills the manager role depends on, usually over two to four years.
- 3Qualify with CA ANZ or CPA Australia
The Chartered Accountants Australia and New Zealand and CPA Australia programs combine exams with around three years of mentored practical experience, and most people complete them while working full time. Some employers cover the cost.
- 4Move into a senior accountant or financial controller role
Senior accountant, management accountant and financial controller positions give you ownership of a month-end and experience supervising other people, which employers look for before appointing a finance manager.
- 5Take on a team and a business partnership
The step up usually comes as an internal promotion or a move to a larger organisation, where the job adds budgeting, forecasting and advising a business unit to the technical work you already do.
Ready to apply as a finance manager?
Whether you're working toward becoming a finance manager or already are one and want a hand with the next step (sharpening your resume for ATS screening, tightening your cover letter, or knowing what you'll actually be asked at interview), here are examples grounded in this specific role, not generic templates.
What jobs can a finance manager move to?
Moving into Chief Financial Officer typically comes with the biggest pay rise, worth $101,200 a year more on average.
| Move to | Typical pay change | Overlap | Retraining |
|---|---|---|---|
| Chief Financial Officer Finance managers bring financial reporting, budgeting and strategic planning to the chief financial officer role, stepping up to lead the finance function. | +$101,200 | 42% | reskill |
| Chief Executive Officer Finance managers with broad commercial acumen can step up to chief executive officer, leading the whole organisation.Known move | +$31,000 | 32% | reskill |
| Corporate Services Manager Finance managers bring budgeting and governance skills to corporate services management, overseeing finance alongside other support functions. | +$1,500 | 31% | reskill |
| Financial Controller Finance managers bring management accounting and reporting skills to financial controller roles, overseeing financial operations. | +$0 | 50% | short course |
| General Manager Finance managers move into general management, using their financial oversight to lead broader business units.Known move | −$2,800 | 33% | reskill |
Moves are chosen from Jobs and Skills Australia's Data on Occupation Mobility, which follows income tax records between 2011-12 and 2020-21, together with entry requirements and skill overlap. A known move is one people were seen making in that data. Pay change compares median full-time pay for the two roles.
Who works as a finance manager?
The typical finance manager is 45 years old; 53% are women, 88% work full-time, and full-timers average 45 hours a week.
- 45
- Median age
- 53%
- Female share
- 88%
- Full-time
- +5h
- vs all-jobs avg
What's it like being a finance manager?
Finance managers work to a reporting calendar, and the month-end close, the quarterly forecast and the annual budget set the rhythm of the year. The pressure comes from being accountable for numbers other people produce and from executives who want a clear answer quickly. People who enjoy the role tend to like seeing how the whole business fits together and are comfortable being the person others turn to when a decision needs a number attached.
What people like
- You see how the business actually works. The job touches sales, operations, procurement and payroll, so you learn where money is made and lost in a way few other roles do.
- Your analysis changes decisions. When a model you built talks an executive team out of a bad investment, that is the value of the role showing up in the room.
- A team to lead, with hands-on work still left. Most finance managers keep one or two pieces of analysis for themselves, which keeps the technical skills sharp alongside the management work.
- The calendar has a shape. Month-end, forecast and budget cycles repeat, so you get better at the same set of tasks and can see your own improvement from one cycle to the next.
What people find hard
- Month-end and budget season collide. The close, the forecast and an audit can all land in the same fortnight, which pushes hours well past the usual working week.
- Interruptions from every direction. Sales wants pricing, operations wants a cost, the chief financial officer wants a summary, and all three expect it today, which makes it hard to protect time for the analysis that matters most.
- Accountable for numbers you don't control. If a business unit miscodes its spending or misses a deadline, the finance report is still wrong, and you are the one explaining it.
- Saying no is part of the job. Budgets mean declining requests, and being the person who holds the line can wear thin with colleagues you work with every day.
Based on our synthesis of professional-body surveys and public accounts of the role, not first-person verified reviews.
Which industries employ finance managers?
Financial and Insurance Services employs the largest share of finance managers, followed by Professional, Scientific and Technical Services.
Top employing industries
- 1Financial and Insurance Services
- 2Professional, Scientific and Technical Services
- 3Manufacturing
Ranked by employment share; the source doesn't publish an exact percentage per industry.
| Bachelor degree | 47.8% | |
|---|---|---|
| Postgraduate | 26.8% | |
| Year 12 or below | 9.4% | |
| Diploma / Advanced Diploma | 9.3% | |
| Certificate III/IV | 4.3% |
Will AI replace finance managers?
This is a low-exposure role. The systems finance managers already use, including SAP, Workday and Power BI, automate data collection, consolidation and standard reporting, but the job is largely about interpreting results, testing assumptions and advising colleagues who do not work in finance. Budget season still needs someone who can sit with a business unit and work out whether its numbers make sense.
Share of typical working time by exposure level
- Leading the finance team and advising business unitsExplaining a variance to a non-finance manager, or coaching an analyst through their first month-end, is work that happens between people.30%low
- Budgeting and forecastingSoftware handles the modelling and roll-ups, but someone still has to challenge the sales forecast and decide which growth assumptions to accept.25%moderate
- Cash flow, banking and funding decisionsNegotiating a facility or timing a payment run depends on relationships with lenders and a read on trading conditions that sits outside the systems.25%low
- Preparing monthly management reports and consolidationsConsolidation and standard report packs are largely automated by ERP and reporting tools, leaving the finance manager to review and comment on what comes out.20%high
Common questions about becoming a finance manager
Straight answers to the questions people ask most.
How much does a finance manager earn in Australia?
Finance managers earn a median of $151,000 per year before tax, though the range across industries is wide. Financial services, mining and professional services pay above the average, and performance bonuses can add a significant amount on top of base salary. Treat the figure as a guide for full-time work.
How do you become a finance manager?
Most finance managers start with a degree in accounting or finance, spend several years in accounting or analyst roles, and complete the CA or CPA qualification along the way. The move into management usually follows a stint as a senior accountant or financial controller, where you have run a month-end and supervised other people. An MBA or masters in finance can help with the step up, but practical experience is what opens the door.
Are finance managers in demand?
Finance managers are currently not in shortage, and employment in the role is projected to grow 21.9% over the decade to 2035. Demand tends to follow business conditions: employers hire finance managers when they are growing, restructuring or tightening cost control, which keeps the role busy in both good and difficult years.
Will AI replace finance managers?
AI is unlikely to replace the role, but it is changing the routine parts of it, such as consolidating accounts and drafting standard reports. Tools already in use, including SAP, Workday and Power BI, automate data collection and formatting, which frees time for interpreting what the numbers mean. Deciding what to do about a margin problem, and getting a leadership team to agree, still rests with the finance manager.
What can a finance manager do next?
Finance managers often step up to chief financial officer, a role that pays around $101,200 more and takes responsibility for the whole finance function rather than one part of it. Moving into a financial controller position is a sideways step in many organisations, with pay around about the same. Some move into general management or a chief executive role, using their financial background to run a broader business.
What is the difference between a finance manager and a financial controller?
In many organisations the two overlap, but a financial controller is usually accountable for the accuracy and compliance of the financial records, while a finance manager leans more towards budgeting, forecasting and advising the business. In smaller companies one person often does both.
Related roles
- Chief Financial Officer
- Financial Controller
- Corporate Services Manager
- Chief Executive Officer
- General Manager
- Accountant
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