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Role snapshot

Treasurers, Controllers, and CFOs are the financial stewards of an organization. Controllers safeguard the integrity of financial reporting and internal controls. Treasurers optimize liquidity, capital structure, and financial risk. CFOs set overall financial strategy, partner with the CEO and board, and translate numbers into clear decisions. In smaller firms one leader may wear all three hats. In large companies these responsibilities split across specialized teams that report into the finance organization.

Quick facts, United States

• Median pay for Financial Managers in May 2024: $161,700
• Pay range for the occupation: lowest 10 percent below $86,490, highest 10 percent above $239,200
• Job outlook 2024 to 2034: +15 percent which is much faster than average
• Openings per year: about 74,600 from growth and replacement needs
• Typical entry education: bachelor’s degree with 5+ years of related experience
  These figures are from the Occupational Outlook Handbook and reflect the latest 2024 wages and 2024 to 2034 projections. gov
  

What they do

Controller focus

• Owns the close calendar, general ledger, financial statements, and compliance
• Designs internal controls, accounting policies, and audit readiness
• Oversees accounts payable, accounts receivable, payroll, fixed assets, cost accounting, and consolidation
• Delivers monthly reporting packages, variance analysis, and management commentary
  O*NET tasks for Treasurers and Controllers include monitoring cash flow and reserve levels, ensuring compliance, authorizing disbursements, coordinating audits, and developing internal control policies. O*NET OnLine+1
  

Treasurer focus

• Manages cash, liquidity, and working capital
• Runs corporate banking, debt issuance, investment policy, and hedging for FX, interest rate, and commodity risk
• Designs capital structure and dividend or buyback policies with the CFO and board
• Oversees treasury workstations, payment security, and counterparty risk
  O*NET describes building relationships with banks and insurers and monitoring financial details tied to legal and regulatory requirements. O*NET OnLine
  

CFO focus

• Sets financial strategy that aligns with growth plans, risk posture, and investor expectations
• Owns the long range plan, annual operating plan, and capital allocation
• Leads finance transformation, data strategy, and systems integration
• Partners with the CEO and board on M and A, new business models, and investor relations
  BLS notes that experienced financial managers may advance to become CFOs and highlights growing demand for specialties in cash and risk management. gov

Where they work

• Management of companies and enterprises including public and private holding companies
• Finance and insurance such as banks, insurers, brokers, and asset managers
• Professional, scientific, and technical services such as advisory and engineering firms
• Manufacturing and healthcare where scale and compliance require robust finance teams
  BLS lists these among the largest and best paying employer groups for Financial Managers. gov
  

Salary and earning potential

National picture

• Median pay: $161,700 in May 2024
• Industry medians: professional and technical services $171,580, management of companies $169,340, finance and insurance $164,940, manufacturing $160,660, government $134,790
• Percentiles: lowest 10 percent below $86,490, highest 10 percent above $239,200
  All from the Occupational Outlook Handbook. gov
  

Local variation
For percentiles by state and metro, use OEWS and CareerOneStop wage tables. These tools show wide spreads driven by cost of labor, industry mix, and company size. bls.gov+2CareerOneStop+2

What moves pay up

• Ownership of enterprise scale P and L, capital markets, and board level communications
• Experience with complex consolidations, multi entity structures, and international operations
• Leadership of finance transformation programs that automate the close, forecasting, and analytics
• Strong track record with lenders, rating agencies, and investor relations

Employment outlook

Employment for Financial Managers is projected to grow 15 percent from 2024 to 2034. Demand is driven by growth in the economy, continued emphasis on risk management, and the need for strategic cash and investment oversight. BLS also highlights ongoing openings from retirements and transitions to other fields. bls.gov

Skills and competencies

Accounting and control

• U S GAAP or IFRS, revenue recognition, lease accounting, cost and inventory, consolidations, and tax coordination
• Internal controls that follow COSO principles and support audit opinions
• Close acceleration, reconciliations, and error reduction through standard work and automation

Treasury and risk

• Liquidity forecasting, cash pooling, in house banking, and working capital levers
• Capital structure planning, debt issuance, covenants, and credit ratings
• Market risk management for FX and rates, and counterparty credit frameworks

Financial planning and analysis

• Rolling forecasts, driver based models, scenario planning, and variance analysis
• Unit economics by product, channel, and customer
• Pricing, productivity, and capital allocation to raise return on invested capital

Data and systems

• ERP leadership across the record to report, order to cash, and procure to pay cycles
• Consolidation and reporting tools, treasury workstations, and business intelligence platforms
• Data governance and internal analytics products for self service forecasting and dashboards

People and leadership

• Team design, succession planning, and coaching of controllers, FP and A leaders, and treasurers
• Stakeholder management with the CEO, board, auditors, and lenders
• Clear communication that turns technical topics into decisions for non finance leaders

Regulatory and external relations

• SEC reporting for public companies, if applicable
• Bank relationships, insurance programs, and rating agency dialogue
• Tax planning in partnership with internal or external specialists

O*NET’s task lists for Treasurers and Controllers reinforce the emphasis on compliance, internal controls, audits, and cash oversight. O*NET OnLine+1

Typical requirements

Education

• Bachelor’s degree is typical. Common majors include accounting, finance, economics, or business
• Many controllers and CFOs are CPAs or hold a master’s degree in accounting, finance, or an MBA
  BLS shows a bachelor’s degree as the typical entry requirement and 5 or more years of related experience to move into management. gov
  

Experience

• Controllers usually come from public audit, corporate accounting, or both
• Treasurers often come from corporate finance, banking, or FP and A with exposure to capital markets and risk
• CFOs normally have progressive experience across accounting, FP and A, treasury, operations finance, and investor communications

Credentials that help

• CPA for accounting leadership and public company reporting
• CMA for cost and management accounting
• CTP for treasury management
• CFA for capital markets, valuation, and investor communications
• CIA or CISA for internal audit and controls in technology heavy firms

Tools that appear on job postings

• ERP systems such as SAP, Oracle, Microsoft Dynamics, or NetSuite
• Consolidation and reporting platforms
• Treasury workstation and bank connectivity tools
• BI tools for dashboards and financial analytics

Career pathways and promotion routes

Stage 1: Senior accountant or senior financial analyst, years 0 to 3

• Build mastery in the close process or in budgeting and forecasting
• Deliver clean reconciliations and reliable forecasts
• Learn your ERP, reporting, and modeling tools in depth

Stage 2: Accounting manager, treasury analyst, or FP and A manager, years 3 to 6

• Lead a small team, improve a cycle time, and document controls
• Own a forecast or a liquidity model that the business trusts
• Present to leadership and defend assumptions with data

Stage 3: Controller or Treasurer, years 5 to 9

• Controller: run the close, manage audits, and improve controls
• Treasurer: manage cash and debt, drive working capital, and design risk programs
• Build credibility with lenders, auditors, and department heads

Stage 4: VP Controller or Assistant Treasurer, years 7 to 12

• Manage multi entity consolidation and international operations
• Lead system upgrades, finance transformation, and policy modernization
• Mentor successors and build a scalable team structure

Stage 5: Chief Financial Officer, years 10 to 15 plus

• Set financial strategy and capital allocation
• Lead investor relations in public firms or board relations in private firms
• Guide M and A, debt and equity capital markets, and enterprise risk

Lateral or adjacent moves

• Corporate development or M and A
• Operations leadership for a plant, region, or business unit
• Consulting in finance transformation or risk

BLS notes that financial managers often advance to CFO roles as they accumulate cross functional experience. bls.gov

Day in the life by KPI

Controller view

• Days to close and number of post close adjustments
• First pass audit findings and remediation cycle time
• Policy compliance and SOX control effectiveness if applicable

Treasurer view

• Daily liquidity coverage and cash forecast accuracy
• Working capital turns, DSO, DPO, and inventory days
• Weighted average cost of capital, covenant headroom, and hedge effectiveness

CFO view

• Growth, margin, and cash conversion against the plan
• Return on invested capital and economic profit
• Forecast accuracy and decision cycle time with the executive team and board

Hiring signals and how to stand out

Resume tips

• Quantify results. Examples
  • Cut the close from 9 to 5 days while improving control testing results
  • Reduced net debt to EBITDA from 3.1x to 2.2x and saved 120 bps on interest after a refinancing and working capital program
  • Improved forecast accuracy from plus or minus 8 percent to plus or minus 3 percent across four quarters
• Clarify scope. Mention entity count, countries, revenue, headcount, and systems you led
• Show external credibility. Include audit outcomes, rating actions, or successful debt or equity transactions

Interview preparation

• Bring a one page bridge from revenue to EBITDA to free cash flow with the top drivers
• Be ready to walk through your control environment or treasury policy
• Expect scenarios on a material error, a liquidity squeeze, a covenant breach, or a downturn plan

First 90 days playbook

1. Listen and map the financial model, bank relationships, and audit status
2. Validate data integrity across the ERP, consolidation, and BI tools
3. Publish a short list of control or liquidity gaps with owners and due dates
4. Stand up a monthly operating cadence with dashboards and a forecast that the team believes
5. Build the finance leadership team’s succession and cross training plan

Education planner

Strong bachelor’s majors
Accounting, finance, economics, or business

Graduate programs that accelerate advancement
Master of Accounting for controllers, MBA with finance for CFO track, or MS Finance for capital markets and valuation

Short form upskilling

• Technical refreshers in revenue recognition, leases, and consolidation
• CTP or corporate treasury courses for cash and risk programs
• Data analytics for finance, including SQL and dashboard design
• Finance transformation and change leadership

Pros and cons

Pros

• High influence on strategy, capital, and performance
• Skills transfer across industries and ownership models
• Clear merit signals through audited results, rating outcomes, and returns on capital

Cons

• High accountability for accuracy, compliance, and ethics
• Time pressure around closes, filings, deals, and capital events
• Constant context switching between technical detail and executive communication

Risk management
Maintain robust controls, segregation of duties, and documented policies. Use scenario planning and liquidity stress tests. Keep relationships current with auditors, banks, and investors.

Is this career a good fit for you

Choose this path if you enjoy turning complex numbers into clear action, leading teams, and owning outcomes under real accountability. You will likely thrive if your motivations include structure, analysis, stewardship, and strategic decision making.

Not sure yet
Check your motivational fit. Take the free MAPP career assessment at Assessment.com. If your MAPP profile shows strong preferences for leadership, analysis, planning, and practical problem solving with real responsibility, a controller, treasurer, or CFO path can be a natural match.

Sample job descriptions by level

Corporate Controller
Own the financial close, consolidation, technical accounting, and audit. Maintain policies and internal controls. Deliver monthly reporting and partner with FP and A on analysis.

Treasurer
Lead liquidity forecasting, cash management, and bank relationships. Manage debt issuance, covenant compliance, and risk hedging. Optimize working capital through DSO, DPO, and inventory programs.

Chief Financial Officer
Set financial strategy, capital allocation, and investor communications. Lead finance transformation, M and A, and long range planning. Partner with the CEO and board to drive value creation.

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