Finance managers manage the financial risks, financial planning and daily running of an organisation.
Finance managers usually earn
$82K-$163K per year
Source: Hays, 2020.
Pay for finance managers varies depending on where they work and who they work for.
- Finance managers usually earn between $82,000 and $163,000 a year.
Source: Hays, 'FY 2020/21 Salary Guide', 2020.
(This information is a guide only. Find out more about the sources of our pay information)
What you will do
Finance managers may do some or all of the following:
- manage the cash flow in and out of their organisation
- make decisions on how to invest company money
- monitor and report on financial trends and organisational efficiency
- check the financial and business risks of projects
- plan and prepare budgets and documents such as the annual report
- ensure business meets legal requirements
- ensure debts are collected.
Skills and knowledge
Finance managers need to have knowledge of:
- budgeting, finance, and accounting theory
- company, contract and industrial law
- how to write and present budgets.
- usually work regular business hours, but may be required to work evenings or weekends to meet deadlines
- work in offices, but may travel to visit clients in their local area.
To become a finance manager you usually need to have:
- a degree in business management or commerce majoring in accounting
- a postgraduate qualification in finance and business management.
You also usually need to be a member of a professional group such as Chartered Accountants Australia New Zealand (CA ANZ) or CPA Australia.
A tertiary entrance qualification is required to enter further training. Useful subjects include accounting, economics, te reo Māori, computing, English and maths with statistics and/or calculus.
Finance managers need to be:
- able to lead others
- skilled at communicating
- good at making decisions
- good at analysing information and writing reports
- good at maths.
Useful experience for finance managers includes:
- experience supervising staff
- management or accounting experience
- banking experience.
Finance managers need to be registered with a professional body such Chartered Accountants Australia New Zealand (CA) or CPA Australia.
To become a Chartered Accountant (CA) or a Chartered Public Accountant (CPA) you must:
- complete a degree from an approved university
- complete three years of professional experience
- complete qualifications set by CA ANZ or CPA Australia.
- Chartered Accountants Australia New Zealand website - information on becoming a chartered accountant
- CPA Australia website - information about becoming a CPA
Find out more about training
- Chartered Accountants Australia New Zealand (CA ANZ)
- 0800 469 422 - www.charteredaccountantsanz.com
- CPA Australia
- (09) 913 7450 - email@example.com - www.cpaaustralia.com.au
What are the chances of getting a job?
Shortage of experienced finance managers
Finance managers are in demand due to:
- a shortage of people with the right skills
- strict immigration laws due to COVID-19, meaning employers having a smaller talent pool to choose from.
According to the Census, 13,386 finance managers worked in New Zealand in 2018.
A balance of technical and soft skills needed for the future
With automation becoming increasingly common, finance managers need to continue upskilling their technical abilities. This includes keeping up to date with new financial software, faster interpretation of big data, and analysing companies' operational performance.
Due to economic uncertainty and increasing automation, finance managers need to be adaptable to changing environments. This includes having strong leadership, decision-making and communication skills.
Types of employers varied
Finance managers usually work in the head offices of medium to large organisations.
Most finance managers work for:
- government organisations
- private businesses
- finance companies
- accountancy firms.
- Edmunds, S, 'Employers having to fight for staff in tighter job market', 2 May 2019, (www.stuff.co.nz).
- Hays, ‘Hays Jobs Report January to June 2020 – Accountancy & Finance’, accessed September 2020, (www.hays.net.nz).
- KPMG, ‘Financial Institutions Performance Survey June 2020 Quarterly Results – New Zealand’, accessed September 2020, (www.kpmg.com).
- Robert Half, 'Finance 2020 report', accessed September 2020, (www.roberthalf.co.nz).
- Stats NZ, '2018 Census Data', 2019.
(This information is a guide only. Find out more about the sources of our job opportunities information)
Progression and specialisations
Finance managers may go on to become managing directors/chief executives of their own businesses, as they have a good understanding of how a business works.
Last updated 5 October 2020