Preeti Sinha

How much can I earn in next five years as a Finance Manager ?

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by Preeti Sinha
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RE: How much can I earn in next five years as a Finance Manager ?

Prathamesh Kapote
Prathamesh Kapote
Verified Career Expert
Founder And Director At Canvas Career
  • Nasik

Hello Friend,
Finance Manager is one of the Noblest Profession in the world.
A Finance Manager is a professional who supervises the preparation of financial reports of the organizations as required by law and approved by the board of directors of the organization. He also creates financial strategies to meet short term and long term goals of the organization.

Responsibilities also include evaluating data to appraise the present and future financial condition of the organization and supervising investment activities.

Finance Management

A financial experts work in variety of settings like Banks,Insurance Companies,Brooking Firms,Finance Companies etc. Generally a financial expert holds a Masters degree in Economics or is an MBA in Finance Management in order to work as Finance Manager.
Financial Manager must possess a comprehensive understanding of Economics and Accounting Principles and Techniques,as well of financial markets and Banking. One must be able to use financial system and associated technology and also have mastery of how to detail information. As the business of finances keeps on changing one must always stay abreast of new regulations and financial tools.

A finance managers earns an salary of around 9 lakh p.a at the start. However,pay in this sector grows steadily for more experienced workers in this sector. The Skills that increase the chances to earn higher salary are for Senior Financial Management,Forecasting,Payroll Administration and Financial Modelling.
Pay scale goes down for the people those who have experience more than 20 years because there are no people having experience more than 20 years.
The pay grows steadily with the experience and skills and depending on your performance you get promoted to further designations and get hike in your pay. So lets see the Career Path of a Finance Manager and the average Salary he earns:
1.Finance Manager -> Financial Cntroller (Rs.10 Lakh p.a)
2.Finance Manager-> Senior Finance Manager(Rs.10 Lakh p.a)
3.Finance Manager-> VP (Vice President,Finance)(Rs.20 Lakh p.a)
4.Finance Manager->Chief Financial Officer(CFO)(Rs.25 Lakh p.a)
5.Finance Manager->Finance Director(Rs.30 Lakh p.a)

This is the Primary Promotions. Now lets see further when you get promotion how much pay scale you can get.
1.Chief Financial Officer (Rs.25 Lakh p.a)
2.Financial Controller (Rs.17 Lakh p.a)
3.Vice President and Chief Financial Officer (Rs. 33 Lakh p.a)
4.Finance Director(Rs.30 Lakh p.a)
5.CEO(Rs.34 lakh p.a)

NOTE: All the salaries mentioned are tentative average salaries.

So you can earn a handsome amount of money in next 5 years by getting into Financial sector depending on your skills and performance.

Hope you find this information helpful.
Wish you Good Luck.
Feel free to get in touch.

Thank you.
Warm regards,
Prathamesh . K

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