Finance Specialist – CFO Career & Jobs: Training, Salary & Certification Requirements

One of the most important parts of running any business is managing the finances. Many people think that when they open their own practice or store, they are only required to collect the money and revel in the fact that they are their own boss. However, if the financial accounts are not properly managed, business owners will find themselves being questioned by suppliers, distributors, and tax collectors when April rolls around. If you want to create a sustainable business that will be in operation for many years to come, it is important that you have financial leadership right from the beginning. The financial specialist, or CFO, is often brought in to manage larger businesses that are in need of financial direction. It is important that they are able to communicated well with other executives and able to make responsible decisions regarding cash flow and spending.

Salary Outlook

Average Annual Salary
$140,000
Salary Range
$80,000 - $200,000

Work Environment

Because of their executive level position, most financial specialists or CFOs are required to work in an administrative office setting alongside other executives, like the CEO and COO. Although the financial specialist might be a full time employee, their work related concerns commonly require them to work long hours and might even require that they attend meetings and conferences on the weekends.

High School Preparation

Those students that think they might enjoy becoming a financial specialist should spend their high school years focusing on math and economics. It can also be helpful to become familiar with business administration and corporate tax processes. Courses that are helpful include algebra, economics, government, accounting, political science, and advanced computer skills.

Requirements

Because the financial specialists occupies an executive level position in most companies, it is required that they have achieved at least a bachelor’s degree in finance, accounting, business administration, or economics before applying for any position. Typically more schooling or related work experience is required before the applicant will be considered for a senior position, such as CFO. However, some younger startup companies are willing to give younger financial minds a shot.

Career Outlook

As the economy struggles to right itself the demand for financial specialists it expected to plateau for the most part. However, those businesses that emerge are predicted to place a higher importance on financial stability, and highly qualified financial specialists will be in high demand as a steady hand and experienced decision maker is one of the best leadership qualities at any company. Individuals with advanced degrees and experience in other areas of business administration are likely to be the most attractive candidates.

Professional Organizations

Association for Financial Professionals
7315 Wisconsin Avenue, Suite 600 West
Bethesda, MD  20814
Phone: (301) 907-2862
www.afponline.org