Occupation Summary

Financial Managers

O*NET 11-3031.00


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

Annual Wages:
Employment Rate:
Employment is expected to increase by 33.28%.
Education Level:
Bachelor's Degree. According to O*Net, the majority of people employed in this occupation have this level of education.
Business and Industry, Science Technology Engineering and Math (STEM)

  1. Establish and maintain relationships with individual or business customers or provide assistance with problems these customers may encounter.
  2. 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.
  3. Recruit staff members.
  4. Prepare operational or risk reports for management analysis.
  5. Evaluate data pertaining to costs to plan budgets.
  6. Oversee training programs.
  7. Examine, evaluate, or process loan applications.
  8. Approve, reject, or coordinate the approval or rejection of lines of credit or commercial, real estate, or personal loans.
  9. Oversee the flow of cash or financial instruments.
  10. Prepare financial or regulatory reports required by laws, regulations, or boards of directors.
  11. Develop or analyze information to assess the current or future financial status of firms.
  12. Communicate with stockholders or other investors to provide information or to raise capital.
  13. Evaluate financial reporting systems, accounting or collection procedures, or investment activities and make recommendations for changes to procedures, operating systems, budgets, or other financial control functions.
  14. Analyze and classify risks and investments to determine their potential impacts on companies.
  15. Network within communities to find and attract new business.
  16. Review collection reports to determine the status of collections and the amounts of outstanding balances.
  17. Establish procedures for custody or control of assets, records, loan collateral, or securities to ensure safekeeping.
  18. Plan, direct, and coordinate risk and insurance programs of establishments to control risks and losses.
  19. Review reports of securities transactions or price lists to analyze market conditions.
  20. Direct insurance negotiations, select insurance brokers or carriers, and place insurance.
  21. Submit delinquent accounts to attorneys or outside agencies for collection.

National Industry Employment Patterns

Industry % of Financial Managers employed Annual Growth Rate
Accounting, tax preparation, bookkeeping, and payroll services 6.4 1.53
Insurance carriers 5.4 1.55
Nondepository credit intermediation 2.9 1.93
Computer systems design and related services 2.3 2.85
Management, scientific, and technical consulting services 2.3 3.00
Colleges, universities, and professional schools 2.3 1.93
Agencies, brokerages, and other insurance related activities 2 2.39

Labor Market Information

2021 Statewide average hourly wage $74.15
2021 National average hourly wage $73.78
2020 National employment 681,700
2020 Texas employment 45,170
Texas projected employment by 2030 60,204
Texas projected annual employment and Turnover openings through 2030 5,228

* Due to confidentiality rules, not all regions may have the data displayed. The sum of all the regions may not be equal to the state total.

Top 10 Relevant Knowledge Areas Relevant Importance Levels
Customer and Personal Service
Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
Administration and Management
Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
Economics and Accounting
Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology.
Law and Government
Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
Personnel and Human Resources
Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
Sales and Marketing
Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
English Language
Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
Education and Training
Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.

Top 10 Relevant Skill Areas Relevant Importance Levels
Reading Comprehension
Understanding written sentences and paragraphs in work-related documents.
Active Listening
Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Talking to others to convey information effectively.
Critical Thinking
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
Communicating effectively in writing as appropriate for the needs of the audience.
Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
Social Perceptiveness
Being aware of others' reactions and understanding why they react as they do.
Adjusting actions in relation to others' actions.
Service Orientation
Actively looking for ways to help people.
Complex Problem Solving
Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.

Top 10 Relevant Abilities Relevant Importance Levels
Oral Comprehension
The ability to listen to and understand information and ideas presented through spoken words and sentences.
Written Comprehension
The ability to read and understand information and ideas presented in writing.
Oral Expression
The ability to communicate information and ideas in speaking so others will understand.
Deductive Reasoning
The ability to apply general rules to specific problems to produce answers that make sense.
Speech Clarity
The ability to speak clearly so others can understand you.
Inductive Reasoning
The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
Written Expression
The ability to communicate information and ideas in writing so others will understand.
Problem Sensitivity
The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing that there is a problem.
Near Vision
The ability to see details at close range (within a few feet of the observer).
Information Ordering
The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).

  • Working with Computers
    -- Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
  • Establishing and Maintaining Interpersonal Relationships
    -- Developing constructive and cooperative working relationships with others, and maintaining them over time.
  • Communicating with Supervisors, Peers, or Subordinates
    -- Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
  • Processing Information
    -- Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
  • Getting Information
    -- Observing, receiving, and otherwise obtaining information from all relevant sources.
Other Activities

  • Independence
    - Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
  • Working Conditions
    - Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.


Desktop calculator: 10-key calculators;

Desktop computers: Desktop computers;

Notebook computers: Notebook computers;

Personal computers: Personal computers;

Personal digital assistant PDAs or organizers: Personal digital assistants PDA;

Scanners: Scanners;

Tablet computers: Tablet computers;


Accounting software: Accounts receivable software; Fund accounting software; Intuit QuickBooks; Sage 50 Accounting; Tax software;

Analytical or scientific software: SAS statistical software; IBM SPSS Statistics;

Business intelligence and data analysis software: IBM Cognos Impromptu; MicroStrategy; Tableau; Oracle Business Intelligence Enterprise Edition; Qlik Tech QlikView;

Cloud-based data access and sharing software: Microsoft SharePoint;

Customer relationship management CRM software: Salesforce software; Blackbaud The Raiser's Edge;

Data base management system software: Teradata Database;

Data base reporting software: SAP Crystal Reports;

Data base user interface and query software: Oracle software; Yardi software; Structured query language SQL; Database software; Microsoft Access; FileMaker Pro; Microsoft SQL Server;

Development environment software: Microsoft Visual Basic; Microsoft Visual Basic for Applications VBA;

Document management software: Adobe Systems Adobe Acrobat;

Electronic mail software: IBM Notes; Microsoft Outlook; Microsoft Exchange;

Enterprise resource planning ERP software: Microsoft Dynamics; Microsoft Dynamics GP; SAP Business Objects; SAP business and customer relations management software; NetSuite ERP; Oracle Fusion Applications; Oracle Hyperion; Oracle JD Edwards EnterpriseOne; Oracle PeopleSoft; Oracle PeopleSoft Financials;

Enterprise system management software: IBM Power Systems software;

Financial analysis software: ARES Corporation PRISM Project Estimator; Delphi Technology; Credit management software; Oracle E-Business Suite Financials;

Human resources software: ADP Workforce Now; Human resource information system (HRIS); Human resource management software HRMS;

Information retrieval or search software: LexisNexis;

Internet browser software: Internet browser software;

Medical software: Healthcare common procedure coding system HCPCS;

Object or component oriented development software: R;

Office suite software: Microsoft Office;

Operating system software: Microsoft Windows;

Presentation software: Microsoft PowerPoint;

Process mapping and design software: Microsoft Visio;

Project management software: Oracle Primavera Enterprise Project Portfolio Management; Microsoft Project;

Sales and marketing software: Marketo Marketing Automation;

Spreadsheet software: Microsoft Excel; Moody's KMV FAMAS;

Word processing software: Word processing software; Microsoft Word;

Related O*NET occupational titles for Financial Managers include:
  • 13-2011.00 Accountants and Auditors
  • 13-2041.00 Credit Analysts
  • 13-2051.00 Financial and Investment Analysts
  • 13-2061.00 Financial Examiners
  • 13-2054.00 Financial Risk Specialists
  • 11-3031.03 Investment Fund Managers
  • 13-2072.00 Loan Officers
  • 13-2052.00 Personal Financial Advisors
  • 41-3031.00 Securities, Commodities, and Financial Services Sales Agents
  • 11-3031.01 Treasurers and Controllers

Sources of Additional Information
  • For more information about financial managers, including certification, visit: Global Academy of Finance and Management
  • For information about the Certified Government Financial Manager (CGFM) designation, visit: Association of Government Accountants
  • For information about the Certified Treasury Professional and the Financial Planning and Analysis Professional designations, visit: Association for Financial Professionals
  • For information about the Chartered Financial Analyst program, visit: CFA Institute
  • For more information about the certified public accountant designation, visit: American Institute of Certified Public Accountants (AICPA)
  • CareerOneStop

  • For a career video on financial managers, visit: Financial Managers, Branch or Department
  • For a career video on treasurers and controllers, visit: Treasurers and Controllers
  • Financial Managers
  • Investment Fund Managers
  • Treasurers and Controllers

  • Contact Texas Workforce Commission
    Labor Market and Career Information  |  101 E. 15th Street, Annex Room 0252  |  Austin, Texas 78778
    Official Website  |  1-800-822-PLAN (7526)  |  512.936.3200

    ** The information in this report may be derived from many sources like O*NET, BLS (Bureau of Labor Statistics), OOH (Occupational Outlook Handbook), and Career One Stop.