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Financial Managers in Maine

Thinking about a career as a Financial Managers in Maine? Here’s what you need to know. Plan, direct, or coordinate accounting, investing, banking, insurance, securities, and other financial activities of a branch, office, or department of an establishment. Excludes “Financial Risk Specialists” (13-2054).

What do Financial Managers Make in Maine?

For a financial managers working in Maine, the typical annual salary is $134,410 per year (or about $64.62/hour).

Wage Statistic	Annual	Hourly
10th percentile	$82,570	$39.70
25th percentile	$105,170	$50.56
Median (50th)	$134,410	$64.62
75th percentile	$197,070	$94.75
90th percentile	n/a	n/a

The location quotient — a measure of how concentrated this occupation is in Maine compared to the national average — is 0.90.

National Wage Comparison

Nationally, financial managers earn a median of $75,665 per year ($36.38/hour), higher than the Maine median.

Employment Outlook

There are roughly 133,707 financial managers across the United States. In Maine alone, approximately 3,040 people work in this role. That’s fewer than the typical state, which employs around 7,950 financial managers.

Top Maine Metros for Financial Managers

The largest metro-area employers of financial managers in Maine.

Metro Area	Number Employed	Annual Median Salary
Portland-South Portland, ME	1,480	$148,790
Bangor, ME	250	$131,260
Lewiston-Auburn, ME	200	$134,650

Top States for Financial Managers Employment

View the states that employ the most financial managers work.

State	Number Employed
California	96,860
Texas	67,580
New York	67,510
Illinois	53,400
Florida	47,710
New Jersey	32,370
Pennsylvania	31,750
Ohio	27,920
Massachusetts	27,690
Georgia	22,720
North Carolina	21,170
Virginia	20,590
Connecticut	20,200
Maryland	19,920
Michigan	19,690
Tennessee	18,650
Minnesota	16,520
Arizona	14,570
Washington	13,890
Wisconsin	13,750

Highest-Paying States for Financial Managers

The highest-paying states for financial managers.

State	Annual Median Salary
New York	$215,740
New Jersey	$188,750
District of Columbia	$181,210
Massachusetts	$181,170
Delaware	$180,050
California	$174,920
Colorado	$174,840
Washington	$171,300
Virginia	$170,290
Connecticut	$169,730

Skills

The most important financial managers skills, rated on an importance scale of 0 to 5:

Knowledge Areas

Key knowledge areas for this occupation, rated on an importance scale of 0 to 5:

Abilities

Top abilities for financial managers, rated on an importance scale of 0 to 5:

Daily Tasks

Day-to-day, financial managers typically:

• Establish and maintain relationships with individual or business customers or provide assistance with problems these customers may encounter.
• Oversee the flow of cash or financial instruments.
• Plan, direct, or coordinate the activities of workers in branches, offices, or departments of establishments, such as branch banks, brokerage firms, risk and insurance departments, or credit departments.
• Recruit staff members.
• Evaluate data pertaining to costs to plan budgets.
• Oversee training programs.
• Establish procedures for custody or control of assets, records, loan collateral, or securities to ensure safekeeping.
• Communicate with stockholders or other investors to provide information or to raise capital.
• Develop or analyze information to assess the current or future financial status of firms.
• Approve, reject, or coordinate the approval or rejection of lines of credit or commercial, real estate, or personal loans.
• Prepare financial or regulatory reports required by laws, regulations, or boards of directors.
• Examine, evaluate, or process loan applications.

Work Activities

• Working with Computers
• Establishing and Maintaining Interpersonal Relationships
• Communicating with Supervisors, Peers, or Subordinates
• Processing Information
• Getting Information
• Evaluating Information to Determine Compliance with Standards
• Making Decisions and Solving Problems
• Coaching and Developing Others
• Guiding, Directing, and Motivating Subordinates
• Organizing, Planning, and Prioritizing Work
• Coordinating the Work and Activities of Others
• Analyzing Data or Information

Tools & Technology

Software and systems commonly involved: Hot technologies: Adobe Acrobat, Alteryx software, IBM SPSS Statistics, Intuit QuickBooks In-demand technologies: Microsoft Excel

What Major Will Prepare You For This Career?

Related college programs include:

• Finance & Financial Management
• Accounting
• Business Administration & Management
• Accounting & Computer Science

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Related Careers

Related occupations to financial managers include:

• Treasurers and Controllers
• Investment Fund Managers
• Management Analysts
• Accountants and Auditors
• Budget Analysts
• Credit Analysts

Also Known As

ATM Manager (Automated Teller Machine Manager), Accountant Supervisor, Accounting Director, Accounting Manager, Accounting Supervisor, Accounts Manager, Accounts Payable Manager, Accounts Supervisor, Actuarial Manager, Asset Manager, Auditing Manager, Auditor Supervisor, Auto Finance Manager (Automotive Finance Manager), Bank Branch Manager, Bank Manager.

References

• U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics — https://www.bls.gov/oes/
• O*NET Online — https://www.onetonline.org/
• BLS Employment Projections — https://www.bls.gov/emp/
• O*NET-SOC code: 11-3031.00