Financial Controller Career Guide: Salary, Responsibilities, and More

Key takeaways

A financial controller is a senior executive who manages a company’s financial health and makes financial decisions guided by data and trend analysis.

• As a financial controller, you can expect an estimated annual total median pay of $167,000 [1]. 

• Your role as a financial controller may require financial analysis, risk management, oversight of regulatory compliance, and management of finance or accounting teams.

• You can become a financial controller by earning a bachelor’s degree in accounting, business administration, or a related area.

Explore the role of a financial controller, discovering job responsibilities, how to enter the field, and salary expectations. If you’re ready to start a career in finance, consider enrolling in a beginner-friendly course, such as the Intuit Academy Bookkeeping Professional Certificate. In as little as four weeks, you can build a foundation of basic bookkeeping concepts and accounting measurements, apply the steps of the accounting cycle, and practice interpreting and analyzing financial statements. 

What is a financial controller?

A financial controller is a senior executive who manages a company's financial health. They lead day-to-day accounting operations and guide a company's financial strategy. While the controller is typically the company's lead accountant or financial manager, they do far more than just keep the books. This person analyzes data and trends and makes financial decisions to help companies prosper. 

In this job, you typically work within the finance department, and depending on the size of the company, you may head the department or report to the chief financial officer (CFO).

Financial controller salary and job outlook

A financial controller job is a sought-after, high-level position. According to Glassdoor, the estimated median total pay for financial controllers in the US is $167,000 per year [1]. This figure includes an average base salary of $90,000 to $156,000, along with additional pay ranging from $36,000 to $68,000 [1]. Additional pay may represent profit-sharing, commissions, or bonuses.

Additionally, according to the US Bureau of Labor Statistics, the position is expected to grow by 15 percent from 2024 to 2034, which is much faster than average [2].

What does a financial controller do?

The scope of a financial controller's role can depend on the size of the company or organization. In smaller companies, financial controllers oversee the company's entire financial operations. In larger companies, the financial controller is typically still a business leader but may report to the CFO.

As a financial controller, your responsibilities may include:

• Tracking cash flow

• Managing expenses

• Establishing internal accounting processes

• Preparing financial statements

• Confirming the accuracy of reports, income statements, and balance sheets

• Overseeing regulatory compliance

• Managing direct reports on the finance and/or accounting teams

• Conducting financial analysis

• Developing a financial growth plan for the company's future

• Evaluating and implementing financial risk management procedures

• Overseeing tax filings

• Maintaining broad financial stability

The financial controller's forward-looking role in the organization distinguishes them from other accountants. While accountants typically analyze and keep track of past data, the controller uses financial information and projections to help the organization plan its future financial activities.

Financial controller vs. CFO

Chief financial officers (CFOs) take a higher-level, strategic role in a company’s finances. A CFO tends to perform management-oriented tasks, while controllers take a more tactical approach to the day-to-day operations of a company’s accounting department.

How to become a financial controller

Most financial controllers have extensive experience working in business and finance. Explore the typical job requirements and recommendations you should consider to advance your career in this field. 

Educational requirements for financial controller jobs

The typical entry-level education to become any type of financial manager, including a financial controller, is a bachelor's degree [3]. For these high-level positions, some companies may prefer candidates with a master's degree.

If you're interested in becoming a financial controller and haven't earned your bachelor's degree yet, you may want to consider a degree in accounting or a degree in business administration.

If you've already earned your bachelor's degree and wish to continue your professional education, you may want to consider pursuing an advanced degree, such as the Master of Accounting (MSA), Master of Finance (MSF), or Master of Business Administration (MBA).

Read more: What is a BBA? Guide to the Bachelor of Business Administration

Certifications and professional experience

In addition to earning a degree, financial controllers typically have at least five years of relevant experience [3]. You can make yourself more appealing to hiring managers by earning an industry-recognized certification. Popular options include the Certified Public Accountant (CPA) or Chartered Financial Analyst (CFA) credentials.

Read more: Finance Certifications: Elevate Your Career in the Financial Sector

Job skills for financial controllers

Effective financial controllers leverage a wide range of technical and people skills as they steer a company’s financial future. If your career goals include advancing to a role as a controller, spend some time now working on these skills: 

• Analytical skills to help you make informed decisions about the company's financial future

• Mastery of math and accounting

• Auditing skills

• Communication and interpersonal skills to effectively inform stakeholders about important financial decisions

• Competency with financial management software and accounting systems

• Organizational skills

• Problem-solving

Explore our free resources for financial professionals

Explore career paths, assess your skills, and connect with resume guidance while browsing our Career Resources Hub. Or if you want to learn more about finance, check out these free resources:

• Take a quiz: Which Finance Course Should You Take? Find Out in 1 Minute

• Hear from a pro: 8 Questions with an Expert: Google Financial Data Analyst

• Watch on YouTube: Why Power BI Skills Are Essential for HR, Finance, and Business Intelligence

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