When Finance Manager Salary is $100K and Up, Are You Better Off Than Others?
According to an analysis of salary data collected by the National Finance Center, the average finance manager salary is $110,000, which is just above the median salary of $90,000.
However, the median finance manager makes an average of $89,000 a year.
If that is not enough, the top finance managers earn $160,000 in total compensation, or $1.05 million per year.
These figures, when factored in, are not surprising.
The average finance executive salary is almost $100,000 higher than the median income of the average U.S. household.
The average salary for a full-time employee is $67,000 and the average for a part-time worker is $43,000—and that’s before taxes.
When looking at the median net worth of finance managers, the typical net worth is $7.4 million, and the median wealth of the finance executive is $8.7 million.
The median net wealth of a CEO is $4.3 million and the typical wealth of their CEO is nearly $8 million.
These are very similar figures to the median household wealth of finance executives, so what are they really making?
The median income for a finance executive who works at a finance company is $56,000 ($6,000 less than the average person).
The median wage for a CEO of a finance firm is $72,000 or $5,000 more than the household median.
So what are the average income, wealth, and compensation of the top executives at these companies?
According to Forbes, the CEO salaries of the Top Ten American Finance Companies are: Brentwood Capital Group $145,000 Citigroup $113,000 Citron Capital Group, LLC $99,000* Citi $87,000 *The CEO salaries for these companies are not disclosed.
The top ten largest finance firms are led by: Bank of America Corporation $5.7 trillion Capital One Financial Group $3.4 trillion Boeing Company $3 trillion CivicBank Corporation $2.9 trillion Dow Chemical Co $1 trillion ExxonMobil $1,200 billion JPMorgan Chase & Co $800 billion Morgan Stanley $700 billion T. Rowe Price $500 billion Walmart Corporation $250 billion And then there are the bottom ten: General Motors $117 billion HSBC Holdings $97 billion IBM $80 billion UBS $60 billion We are not sure if the top 10 firms make up a significant portion of the total net worth, but if you add the salaries of these top ten companies together, the total total is around $3,100 billion, or just under $100 trillion.
What do these numbers mean?
The finance executive salaries of a typical U. S. household average around $60,000 per year, which works out to around $9,000 to $10,000 annually.
So the average salary of a full time employee is a little over $100k per year in total, while the average wage of a part time worker is a bit more than $90k.
But this is not all that important.
There are a number of factors that determine the net worth and wealth of individuals, businesses, and families.
A good financial manager knows how to leverage those assets to invest them for long-term gain, and that can be a difficult task for someone who is new to the finance business.
But the more we learn about finance, the more important it becomes to understand what to do with the accumulated wealth.
And that’s why we have this conversation, because there is an awful lot of wealth that we do not have a handle on.
Here are a few of the financial advisors who are helping to inform this conversation: Lincoln Clark Liz Halsey Andrew Lihue Spencer Leighton Michael Lewis Kevin McGraw Stephen N. Mays Rachael Rector David Reimer James Pomerantz Daniel Rubin Jody Schatz Natalie Smith Paul Thompson Richard Wilson Travis Wolf Karen Wood Irene Wilson The National Finance Centers