Financial managers are below average when it comes to happiness.
At CareerExplorer, we conduct an ongoing survey with millions of people and ask them how satisfied they are with their careers. As it turns out, financial managers rate their career happiness 3.0 out of 5 stars which puts them in the bottom 30% of careers.
To put this into perspective, we compared how happy financial managers are to similar careers in the industry. Take a look at the results below:
Salaries and satisfaction ratings in similar careers
So what does it mean to be happy in your career? Let’s break it down into different dimensions:
Salary: Are financial managers happy with their salary?
Meaning: Do financial managers find their jobs meaningful?
Personality fit: How well suited are people’s personalities to their everyday tasks as financial managers?
Work environment: How enjoyable are financial manager’s work environments?
Skills utilization: Are financial managers making the best use of their abilities?
Are financial managers happy with their salary?
Financial managers rated their satisfaction with their salaries 3.3/5. Few are explicitly unhappy with their salaries, with most financial managers having generally positive views of their salary.
We asked financial managers how fairly compensated they are for their work. Their response was:
3.3 out of 5 stars
656 financial managers
5 Star
16%
16% of financial managers rated their compensation 5 stars
4 Star
33%
33% of financial managers rated their compensation 4 stars
3 Star
25%
25% of financial managers rated their compensation 3 stars
2 Star
17%
17% of financial managers rated their compensation 2 stars
1 Star
9%
9% of financial managers rated their compensation 1 stars
Do financial managers find their jobs meaningful?
On average, financial managers rate the meaningfulness of their work a 2.6/5. While most financial managers aren’t very fulfilled by their work, some people may still manage to find meaning in it.
We asked financial managers how meaningful they found their work. Their response was:
9% of financial managers rated how meaningful they found their career 5 stars
4 Star
15%
15% of financial managers rated how meaningful they found their career 4 stars
3 Star
26%
26% of financial managers rated how meaningful they found their career 3 stars
2 Star
27%
27% of financial managers rated how meaningful they found their career 2 stars
1 Star
23%
23% of financial managers rated how meaningful they found their career 1 stars
How well are people’s personalities suited to everyday tasks as financial managers?
Financial managers rated their personality fit with their work an average of 3.7/5. The majority of financial managers find their personalities quite well suited to their work, with relatively few having complaints about their fit.
We asked financial managers how well their personalities fit into their careers. Their response was:
3.7 out of 5 stars
714 financial managers
5 Star
25%
25% of financial managers rated their career fit 5 stars
4 Star
41%
41% of financial managers rated their career fit 4 stars
21% of financial managers rated their career fit 3 stars
2 Star
9%
9% of financial managers rated their career fit 2 stars
1 Star
4%
4% of financial managers rated their career fit 1 stars
How enjoyable is a financial manager’s work environment?
As a whole, financial managers rated their enjoyment of their work environment 3.4/5. Most of them tend to enjoy, or at least not be actively bothered by, their work environment.
We asked financial managers how much they enjoyed their work environment. Their response was:
3.4 out of 5 stars
718 financial managers
5 Star
16%
16% of financial managers rated their work environment 5 stars
4 Star
34%
34% of financial managers rated their work environment 4 stars
3 Star
30%
30% of financial managers rated their work environment 3 stars
2 Star
12%
12% of financial managers rated their work environment 2 stars
1 Star
8%
8% of financial managers rated their work environment 1 stars
Are financial managers making the best use of their abilities?
Former financial managers on CareerExplorer have rated their skills utilization 3.1/5. Most financial managers are satisfied with how well their abilities are skills are made of use.
We asked financial managers how well their abilities were used in their careers. Their response was:
3.1 out of 5 stars
717 financial managers
5 Star
12%
12% of financial managers rated their how well their skills were utilized in their career 5 stars
4 Star
26%
26% of financial managers rated their how well their skills were utilized in their career 4 stars
3 Star
29%
29% of financial managers rated their how well their skills were utilized in their career 3 stars
2 Star
21%
21% of financial managers rated their how well their skills were utilized in their career 2 stars
1 Star
12%
12% of financial managers rated their how well their skills were utilized in their career 1 stars
As a whole, financial managers rated their enjoyment of their work environment 3.4/5. Most of them tend to enjoy, or at least not be actively bothered by, their work environment.
With a median salary of over $139,000, plenty of opportunities for advancement, average stress levels, and above average work/life balance due to flexible working arrangements, financial managers are some of the most satisfied workers in the U.S.
Financial management is a demanding and rewarding career, but it can also be stressful and challenging. You may face tight deadlines, complex problems, high expectations, and constant changes.
But as the results of our just-released FlexShares Advisor Wellness Study indicate, being a financial advisor also can be immensely rewarding—and not just from a compensation perspective. Advisors as a group enjoy high levels of satisfaction with their jobs, their lives and their work-life balance.
The average Finance Manager tends to be methodical, structured, and serious. They can be very organized and attentive to detail, especially when given plenty of personal space to think and work privately.
The workforce of Financial managers in 2022 was 1,360,907 people, with 55.6% woman, and 44.4% men. The average age of male Financial managers in the workforce is 44 and of female Financial managers is 45.1, and the most common race/ethnicity for Financial managers is White.
Financial managers score highly on extraversion, meaning that they rely on external stimuli to be happy, such as people or exciting surroundings. They also tend to be high on the measure of conscientiousness, which means that they are methodical, reliable, and generally plan out things in advance.
Managing the financial health of an entire organization comes with a great deal of responsibility. That responsibility can, in turn, cause you a lot of stress. This can be a very fast-paced job, too, which can contribute to work-related stress.
One possible answer is that they're getting paid to earn market-beating returns. If you just want to do an average job, you don't really need a trained investment professional to pick your assets -- just invest in an index fund.
Financial managers spend much of their time analyzing data and advising senior managers on ways to maximize profits. They often work on teams, acting as advisors to top executives. Financial managers must have knowledge of the topics, tax laws, and regulations that are specific to their organization or industry.
Another reason why many financial advisors fail is that they don't provide value to their clients. Clients want to know that they are investing in something worthwhile, and if they feel like they are wasting their money, they won't bother returning.
Financial advisors are enterprising and conventional
They also tend to be conventional, meaning that they are usually detail-oriented and organized, and like working in a structured environment. If you are one or both of these archetypes, you may be well suited to be a financial advisor.
Even though digital tools have replaced finance professional for retail services, they remain crucial for managing large and complex portfolios. Employee sentiment regarding business outlook and career opportunities has improved over time for both engineers and financial advisors at financial service institutions.
The Bureau of Labor Statistics projects 16.0% employment growth for financial managers between 2022 and 2032. In that period, an estimated 126,600 jobs should open up. Financial managers oversee the finances of major companies, agencies and other organizations.
They must be polite, empathetic and good listeners, in a supervisory role or when working with other teams in your company. One of the key aspects of a Finance Manager's job is to be an expert in time and project management.
Maybe that's part of why financial careers are often considered to have the highest employee satisfaction rates. Indeed.com ranks financial managers and accounting managers in the top 20 happiest jobs in the United States, referencing reasons like: Personal fulfillment. Sense of meaning in work.
Many work in comfortable offices for long hours, between 50 or 60 per week. Travel may also be included, as financial managers generally are required to attend financial and economic association conventions, visit other firms or engage customers.
Introduction: My name is Allyn Kozey, I am a outstanding, colorful, adventurous, encouraging, zealous, tender, helpful person who loves writing and wants to share my knowledge and understanding with you.
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