Director of Finance Salary

Created by Henry Steele

By Henry Steele - January 8, 2018
Reading Time: 11 minutes
Reading Time: 11 minutes
FIND SCHOOLS
1
2
3
4

The following article discusses the career path of Director of Finance. Learn about how to become one, education requirements, job duties, traits and qualities, national salary outlook as well as top national employers of Director of Finances.

Featured Programs:
Sponsored School(s)
Southern New Hampshire University Logo
Southern New Hampshire University
Featured Program: Southern New Hampshire University offers a variety of online business degrees that can prepare you to take on a role in business management and help you develop critical leadership skills.
Request Info
Purdue Global Logo
Purdue Global
Featured Program: Purdue University Global’s career-focused curriculum is based on the latest industry advances to keep you competitive now and in the future.
Request Info
Grand Canyon University Logo
Grand Canyon University
Featured Program: Find a degree to further your business and management career aspirations and gain skills needed to succeed in a variety of business settings.
Request Info

Job Duties

Directors of finance have numerous general management duties, including performance evaluation, hiring, scheduling, and so on. They head the finance team, ensuring that strategic plans are in place to meet the financial objectives of the company. As such, they must conduct financial analyses, projections, and accounting duties. They also have to identify financial risks and areas that can be improved on, thereby avoiding mistakes and increasing profits.

They also periodically create financial reports, presenting those to the rest of the management team. They may have to identify financial markets that can be tapped into, including potential mergers and acquisitions, in an effort to grow the company. A director of finance will usually work in an office environment with occasional travel, particularly if the business has multiple branches.

Other job duties of a director of finance are:

  • To manage budget preparation, accounting activities, and forecasts
  • To direct business planning, staff operations, compliance, and budget development in the finance department
  • To oversee the financial reporting and regulatory preparation, ensuring full compliance
  • To create strategies and policies and procedures in relation to financial data and reports

Where We Work

According to the U.S. Bureau of Labor Statistics, there were 580,400 financial managers in 2016. The largest employers of these professionals were:

  • Finance and insurance: 29%
  • Professional, scientific, and technical services: 12%
  • Management of companies and enterprises: 11%
  • Government: 7%
  • Manufacturing: 7%

How to Become

It is generally expected that a director of finance holds a graduate degree, preferable the master of business administration (MBA), although finance or economics are also accepted. Some employers will accept those with only a bachelor’s degree if they have sufficient experience and are willing to complete a graduate degree at a later stage.

Education Requirements

Directors of finance will typically have at least five years of experience at management level in a financial field, as well as holding a graduate degree. They often have a background as a financial analyst, securities sales agent, or accountant.

The most acceptable master’s degree is the MBA, although those in economics, accounting, and finance are also acceptable. These graduate degrees demonstrate that an individual has the necessary analytical skills and understanding of software and financial analysis.

There is no requirement for a director of finance to be certified, but a certification can improve career prospects. The Certified Financial Analyst (CFA) is a highly respected certification, and so with the Certified Treasury Professional offered by the Association for Financial Professionals. Some directors of finance are licensed as a Chartered Public Accountant (CPA), which is provided by the American Institute of Certified Public Accountants (AICPA).

Traits & Qualities

The most effective directors of finance have the following traits to some degree or other:

  • Strong analytical skills
  • Excellent communication skills, both verbal and written, with a particular focus on report writing
  • Detail oriented
  • Great mathematical skills
  • Very organized
  • Strong team workers

Minimum Education

Master’s Degree

National Salary

The national average salary estimate for Director of Finance was $99,996. This number is estimated from over 1,624,824 employees, users past and present job advertisements from Indeed.com. This equates to an hourly salary of $52.08 and monthly of $8,333.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$23,000

$229,000

Salary Distribution

Salary by State

The following section lists Director of Finance salaries in each state around the country. The figures are based on the total number of job postings through Indeed.com. For example, New York had the largest quoted salary of $125,213 while North Dakota had the smallest quoted salary of $62,645.

AlaskaIdahoMontanaPennsylvania
AlabamaIllinoisNorth CarolinaRhode Island
ArkansasIndianaNorth DakotaSouth Carolina
ArizonaKansasNebraskaSouth Dakota
CaliforniaKentuckyNew HampshireTennessee
ColoradoLouisianaNew JerseyTexas
ConnecticutMassachusettsNew MexicoUtah
DCMarylandNevadaVirginia
FloridaMichiganNew YorkVermont
GeorgiaMinnesotaOhioWashington
HawaiiMissouriOklahomaWisconsin
IowaMississippiOregon
Alaska – $93,329Rank: 21st
The average salary ranks 21st among states in the country. There were also job openings from employers like City of Saint Paul.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$38,000

$173,000

Salary Distribution
Alabama – $79,339Rank: 37th
The average salary ranks 37th among states in the country. There were also job openings from employers like AUTOMATION PERSONNEL, Vaco, LLC, Automation Personnel Services, and Nigel Frank International.

  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .
  • .

$16,000

$191,000

Salary Distribution
Arkansas – $76,356Rank: 39th
The average salary ranks 39th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting, Express Employment Professionals, University of Arkansas, and Superior Auto Group.

  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .
  • .

$16,000

$183,000

Salary Distribution
Arizona – $93,600Rank: 20th
The average salary ranks 20th among states in the country. There were also job openings from employers like Catalina Foothills School District, Prestige Ford, Ledgent Finance & Accounting, and The Bolton Group.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$21,000

$216,000

Salary Distribution
California – $115,283Rank: 4th
The average salary ranks 4th among states in the country. There were also job openings from employers like Robert Half Management Resources, University of California, Santa Barbara, Ralph Andersen & Associates, and City Of San Bruno.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$36,000

$237,000

Salary Distribution
Colorado – $80,610Rank: 34th
The average salary ranks 34th among states in the country. There were also job openings from employers like Jefferson County Public Schools, Town of Milliken, University of Colorado, and Larimer Humane Society.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$20,000

$182,000

Salary Distribution
Connecticut – $111,724Rank: 5th
The average salary ranks 5th among states in the country. There were also job openings from employers like Tunxis Community College, Bohan & Bradstreet, Inc., JCJ, LLC, and Robert Half.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$31,000

$242,000

Salary Distribution
DC – $115,492Rank: 3rd
The average salary ranks 3rd among states in the country. There were also job openings from employers like Georgetown University, Internal Revenue Service, Congressional Research Service, and Clinical Management Consultants.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$41,000

$227,000

Salary Distribution
Florida – $90,215Rank: 24th
The average salary ranks 24th among states in the country. There were also job openings from employers like Prestige Ford, JWM Group, LLC, Air Energi America, and Steven Douglas Associates.

  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .
  • .

$20,000

$211,000

Salary Distribution
Georgia – $96,586Rank: 15th
The average salary ranks 15th among states in the country. There were also job openings from employers like University of Georgia, StaffPointe, Emory University, and CHASE Professionals.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$24,000

$217,000

Salary Distribution
Hawaii – $101,007Rank: 9th
The average salary ranks 9th among states in the country. There were also job openings from employers like Maui Nonprofit and Interregional Med-Exec Group, Inc..

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$38,000

$194,000

Salary Distribution
Iowa – $80,306Rank: 36th
The average salary ranks 36th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting, Iowa Wesleyan University, and Accountemps.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$19,000

$183,000

Salary Distribution
Idaho – $69,285Rank: 44th
The average salary ranks 44th among states in the country. There were also job openings from employers like Kootenai County.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$21,000

$144,000

Salary Distribution
Illinois – $100,617Rank: 11th
The average salary ranks 11th among states in the country. There were also job openings from employers like Marcum Search LLC, CFS Inc., Robert Half Finance & Accounting, and Sears.

  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .
  • .

$21,000

$241,000

Salary Distribution
Indiana – $85,483Rank: 31st
The average salary ranks 31st among states in the country. There were also job openings from employers like Indiana University South Bend, Medtech, State of Indiana, and Creative Financial Staffing.

  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .
  • .

$17,000

$205,000

Salary Distribution
Kansas – $80,474Rank: 35th
The average salary ranks 35th among states in the country. There were also job openings from employers like Kansas Department of Health and Environment, University of Kansas, Butler Community College, and Washburn University.

  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .
  • .

$14,000

$210,000

Salary Distribution
Kentucky – $75,915Rank: 40th
The average salary ranks 40th among states in the country. There were also job openings from employers like University of Kentucky, City of Henderson, and Northern Kentucky Area Development District.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$17,000

$175,000

Salary Distribution
Louisiana – $73,069Rank: 42nd
The average salary ranks 42nd among states in the country. There were also job openings from employers like South Louisiana Community College.

  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .
  • .

$15,000

$175,000

Salary Distribution
Massachusetts – $110,320Rank: 6th
The average salary ranks 6th among states in the country. There were also job openings from employers like Michael Page, CyberCoders, Huxley Associates, and Daley and Associates.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$28,000

$247,000

Salary Distribution
Maryland – $100,894Rank: 10th
The average salary ranks 10th among states in the country. There were also job openings from employers like Porsche Club of America, Johns Hopkins University, Harford Community College, and Anne Arundel Community College.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$30,000

$214,000

Salary Distribution
Michigan – $92,193Rank: 23rd
The average salary ranks 23rd among states in the country. There were also job openings from employers like The Robert B. Miller College, Kforce Finance and Accounting, Venteon, and Career Development Partners.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$23,000

$207,000

Salary Distribution
Minnesota – $95,736Rank: 17th
The average salary ranks 17th among states in the country. There were also job openings from employers like State of Minnesota, City of Isanti, eVantage Financial LLC., and University of Minnesota.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$24,000

$215,000

Salary Distribution
Missouri – $89,320Rank: 25th
The average salary ranks 25th among states in the country. There were also job openings from employers like CITY OF HANNIBAL, Missouri State University, Midwest Dealer Group, and Beacon Hill Staffing.

  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .
  • .

$17,000

$217,000

Salary Distribution
Mississippi – $68,571Rank: 46th
The average salary ranks 46th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting.

  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .
  • .

$14,000

$165,000

Salary Distribution
Montana – $86,513Rank: 29th
The average salary ranks 29th among states in the country. There were also job openings from employers like The HealthCare Initiative and CyberCoders.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$35,000

$161,000

Salary Distribution
North Carolina – $93,279Rank: 22nd
The average salary ranks 22nd among states in the country. There were also job openings from employers like Express Employment Professionals, University of North Carolina, HENDERSON, and North Carolina State University.

  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .
  • .

$18,000

$226,000

Salary Distribution
North Dakota – $62,645Rank: 47th
The average salary ranks 47th among states in the country. There were also job openings from employers like Abused Adult Resource Center.

  • .
  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .

$31,000

$102,000

Salary Distribution
Nebraska – $69,238Rank: 45th
The average salary ranks 45th among states in the country. There were also job openings from employers like Peru State College.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$16,000

$159,000

Salary Distribution
New Hampshire – $103,806Rank: 7th
The average salary ranks 7th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting.

  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .
  • .

$22,000

$247,000

Salary Distribution
New Jersey – $119,426Rank: 2nd
The average salary ranks 2nd among states in the country. There were also job openings from employers like Middlesex County College, Henderson Harbor Group, Parker and Lynch, and GSP International.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$38,000

$245,000

Salary Distribution
New Mexico – $79,338Rank: 38th
The average salary ranks 38th among states in the country. There were also job openings from employers like New Mexico State Personnel Office.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$24,000

$166,000

Salary Distribution
Nevada – $97,146Rank: 13th
The average salary ranks 13th among states in the country. There were also job openings from employers like CyberCoders, Randstad, Randstad Professionals, and Robert Half Finance & Accounting.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$29,000

$205,000

Salary Distribution
New York – $125,213Rank: 1st
The average salary ranks 1st among states in the country. There were also job openings from employers like Bank of America Merrill Lynch, Marcum Search LLC, Resume Library, and Selby Jennings.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$30,000

$286,000

Salary Distribution
Ohio – $88,305Rank: 27th
The average salary ranks 27th among states in the country. There were also job openings from employers like Day Star Staffing, Central Ohio Transit Authority, Ohio State University, and Jefferson Metropolitan Housing Authority.

  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .
  • .

$20,000

$204,000

Salary Distribution
Oklahoma – $86,349Rank: 30th
The average salary ranks 30th among states in the country. There were also job openings from employers like City of Duncan, Kube and Company, and Robert Half Finance & Accounting.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$23,000

$188,000

Salary Distribution
Oregon – $87,527Rank: 28th
The average salary ranks 28th among states in the country. There were also job openings from employers like Oregon Humane Society, Creative Financial Staffing, State of Oregon, and Now CFO.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$31,000

$171,000

Salary Distribution
Pennsylvania – $98,521Rank: 12th
The average salary ranks 12th among states in the country. There were also job openings from employers like Carlisle Borough, Springettsbury Township, ITT Educational Services Inc., and University of Pittsburgh.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$25,000

$219,000

Salary Distribution
Rhode Island – $102,026Rank: 8th
The average salary ranks 8th among states in the country. There were also job openings from employers like State of Rhode Island and Metro Chrysler Jeep Dodge Ram.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$28,000

$222,000

Salary Distribution
South Carolina – $84,097Rank: 32nd
The average salary ranks 32nd among states in the country. There were also job openings from employers like Robert Half Finance & Accounting, StaffPointe, Tri-County Technical College, and Technical College of the Lowcountry.

  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .
  • .

$18,000

$199,000

Salary Distribution
South Dakota – $75,412Rank: 41st
The average salary ranks 41st among states in the country. There were also job openings from employers like Nigel Frank International and South Dakota State Government.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$24,000

$153,000

Salary Distribution
Tennessee – $88,493Rank: 26th
The average salary ranks 26th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting, Motlow State Community College, and Sovereign Executive Search.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$26,000

$187,000

Salary Distribution
Texas – $96,906Rank: 14th
The average salary ranks 14th among states in the country. There were also job openings from employers like All US Jobs, CASTLEBERRY ISD, MOORE Executive Search, and Kforce Finance and Accounting.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$23,000

$219,000

Salary Distribution
Utah – $72,725Rank: 43rd
The average salary ranks 43rd among states in the country. There were also job openings from employers like All Resort Group / Lewis Stages, University of Utah, and Salt Lake Community College.

  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .
  • .

$17,000

$168,000

Salary Distribution
Virginia – $95,901Rank: 16th
The average salary ranks 16th among states in the country. There were also job openings from employers like University of Virginia, Virginia Commonwealth University, Surry County Public Schools, and Reynolds Community College.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$27,000

$206,000

Salary Distribution
Vermont – $80,614Rank: 33rd
The average salary ranks 33rd among states in the country. There were also job openings from employers like State of Vermont.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$32,000

$149,000

Salary Distribution
Washington – $94,685Rank: 18th
The average salary ranks 18th among states in the country. There were also job openings from employers like Everett Community College, Tacoma Community College, Pacific Lutheran University, and Highline Community College.

  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .
  • .

$20,000

$226,000

Salary Distribution
Wisconsin – $94,301Rank: 19th
The average salary ranks 19th among states in the country. There were also job openings from employers like AfterCollege, Inc., Racine County, University of Wisconsin–Madison, and Lakeview Health Systems.

  • .
  • .
  • .
  • Most Reported
  • .
  • .
  • .
  • .
  • .
  • .

$24,000

$211,000

Salary Distribution

Top 20 National Employers

According to Indeed.com, the following states had employers looking to hire a Director of Finance. The quoted salary figure represents the average salary from all job postings by this employer.

Employer NameLocationAverage Salary
Bank of America Merrill LynchNew York$269,064
Marcum Search LLCNew York$250,000
Prestige FordArizona$240,000
Michael PageMassachusetts$227,460
Fiat Chrysler AutomobilesKansas$225,000
Midwest Dealer GroupMissouri$225,000
Resume LibraryNew York$215,000
Selby JenningsWashington$213,454
Kforce Finance and AccountingMichigan$211,406
MicrosoftWashington$195,268
JWM Group, LLCFlorida$190,324
Parker+LynchNew York$189,010
The Odyssey GroupNew York$188,628
CFS Inc.Illinois$184,045
Trinity HealthOhio$180,000
SystemsAccountantsNew York$179,270
MOORE Executive SearchTexas$175,000

Learn More

Related Careers

Career NameAverage Salary
Director of Sales$108,014
Sales Director$107,659
Tax Manager$107,133
Risk Manager$103,743
Technical Project Manager$100,971
Finance Director$99,963
Director of Security$99,822
Operations Officer$96,045
Director of Nursing$95,821
Disaster Recovery Manager$94,956

Henry Steele
Managing Editor
Henry is Managing Editor of BusinessStudent.com. He is a seasoned business professional who regularly consults with local business's throughout Southern California. Henry pursued his undergrad in Business and Economics at the University of San Diego and gained valuable life changing experience through a unique internship upon graduation.

"It doesn't matter how many times you have failed, you only have to be right once." - Mark Cuban