Princeton professor of philosophy Arthur Szathmary once said, “Choose a job you love and you will never have to work a day in your life.” While there is much truth in the statement, Szathmary, who worked at Princeton from the 1940s to the 1980s, had no framework for modern work enabled by mobile devices, cloud computing, and personal laptops, where working anywhere, anytime is the reality of many jobs. He may have been alarmed at the cost of housing in Princeton, N.J. today (the median price of a home there is more than $800,000) and the cost of a Brooks Brothers men’s suit ($1,298 for the Classic Fit Wool Sharkskin). A smart man, if Szathmary were alive today, he may have expanded on his statement to say, “Choose a job with a flexible work schedule at the upper end of the salary range, with plenty of room for advancement, and you will never work a day in your life.” Szathmary may even have directed his students to study accounting and finance, based on new data from U.S. News and World Report’s 2024 Best Jobs Survey.
Every year U.S. News and World Report analyzes a diverse array of jobs with the largest number and percentage of projected openings from 2021 to 2031, as determined by the U.S. Bureau of Labor Statistics (BLS). Jobs are ranked based on their overall score, which combines multiple components into a single weighted average score between 0 and 10. The overall metrics U.S. News used to calculate this year’s Best Jobs rankings are:
- Future prospects (30%)
- Wage potential (25%)
- Employment (20%)
- Job safety and stability (15%)
- Work/life balance (10%)
Guess what job earned an overall score of 7.2 out of 10, earning it the titles of No. 1 Best Job in Business, No. 2 in 100 Best Jobs, and No. 12 in Best Paying Jobs? If you guessed, “Financial Managers,” you are right. With a median salary of over $139,000, plenty of opportunities for advancement, average stress levels, and above average work/life balance due to flexible working arrangements, financial managers are some of the most satisfied workers in the U.S.
So how does one become a financial manager? The ranking also includes advice from real financial managers on how to get your foot in the door. Working in an entry-level role at a large organization or bank, and progressively taking on more responsibility is a proven path. But practicing financial managers also stress the importance of baseline accounting and finance skills.
If you wake up in the morning and rush to read Barron’s or The Wall Street Journal, you may be a good fit for this role. Though the stereotype of a financial manager is someone who loves numbers, you also have to love people; financial managers usually manage teams of people. The pros working in the field put in more than 40 hours a week, but that is standard for most business roles. Being sharp on your feet, with advanced analytical and critical thinking skills, also are attributes well-suited for the job. Another promising fact about this job is the Bureau of Labor Statistics projects 16.0% employment growth for financial managers between 2022 and 2032. In that period, an estimated 126,600 jobs will open in the profession.
In Szathmary’s time, data like the kind included in the U.S. News ranking was not widely available, making choosing a satisfying career challenging. But today, we have copious amounts of details about the day-to-day experiences of workers in all different kinds of professions. At IMA, we have always known accounting and finance roles are some of the most rewarding ones, so we encourage you to explore the U.S. News rankings and consider roles like Financial Manager for the significant benefits they offer, and you too may never have “to work” a day in your life.
About the Authors
Margaret Michaels Margaret Michaels is a manager, brand content & storytelling, at IMA. She can be reached at margaret.michaels@imanet.org.
FAQs
If you guessed, “Financial Managers,” you are right. With a median salary of over $139,000, plenty of opportunities for advancement, average stress levels, and above average work/life balance due to flexible working arrangements, financial managers are some of the most satisfied workers in the U.S.
What are the basic questions financial managers must answer? ›
What are the three basic questions Financial Managers must answer? What long-term investments should the firm choose? How should the firm raise funds for the selected investments? How should current assets be managed and financed?
How to answer what would make your job more satisfying? ›
What Makes a Job Satisfying?
- Engaging Work That Uses Your Skills. One quality many satisfying and rewarding jobs have in common is engagement. ...
- Opportunities for Career Development. ...
- A Collaborative Environment. ...
- Clear and Open Communication. ...
- Flexibility and Work–Life Balance. ...
- Feeling Valued. ...
- Fair Compensation.
Financial managers perform data analysis and advise senior managers on profit-maximizing ideas. Financial managers are responsible for the financial health of an organization. They create financial reports, direct investment activities, and develop plans for the long-term financial goals of their organization.
What are the three important questions that are answered using finance? ›
Ans. Three main questions in corporate finance are capital budgeting, capital structure, and working capital management.
What is the most important decision a financial manager makes? ›
The correct answer is a. The financial manager's most important job is to make the firm's investment decisions. This, also known as capital budgeting, is the most important job for this type of manager. This individual has to look at and prioritize investment alternatives.
When were you most satisfied in your job example answers? ›
"I was really happy when I felt like a productive member of the team. One time, we were going to miss a deadline on an important project, but I was able to come up with a different strategy that helped everyone finish their part of the project on time. It ended up being a big success and getting us several new clients.
What is your biggest strength interview answer? ›
Here are the TOP 15 Strengths that will allow you to STANDOUT in your job interview.
- 1) Ability to Multitask. ...
- 2) Effectively Work In HIGHLY Pressurized Situations. ...
- 3) Attention to Detail. ...
- 4) Ability to COLLABORATE. ...
- 5) Resourceful. ...
- 6) Empathetic. ...
- 7) Self Motivated. ...
- 8) Take Initiative.
What Causes Job Dissatisfaction?
- Being underpaid.
- Having an unsupportive or untrustworthy boss.
- Limited career growth at an organization.
- Lack of meaning behind a role.
- Lack of work-life balance.
- Poor management.
The 8 vital skills any good finance manager should possess
- The 8 vital skills any good finance manager should possess. Being a financial manager. ...
- Strategic and analytical skills. ...
- Be tech-savvy. ...
- Adaptability. ...
- Honesty and strong values. ...
- Strong communication skills. ...
- Leadership skills. ...
- Industry-specific knowledge.
The financial manager must decide how much money is needed and when, how best to use the available funds, and how to get the required financing. The financial manager's responsibilities include financial planning, investing (spending money), and financing (raising money).
What is the most important financial statement for managers? ›
The balance sheet is particularly important as it provides a snapshot of a company's financial position at a specific moment in time, empowering a business owner or manager to establish the company's most important ratios such as solvency versus liquidity that are particularly important for debt management.
What gives you the greatest satisfaction at work? ›
9 Things the Most Satisfying Jobs Have in Common
- Your Boss Has an Open Door Policy. ...
- Colleagues Whom You Enjoy Working With. ...
- A Company Mission You Agree with and Find Important. ...
- You Feel Appreciated. ...
- The Company Is Poised for Growth. ...
- Bonus Qualities. ...
- The Bottom Line. ...
- More About a Fulfilling Career.
There are five major components to job satisfaction. These five factors are engagement, respect for employees (showing you appreciate their work), motivating employees, home/work balance, and agreed-upon compensation. All of these components allow the employee to feel comfortable at work and keep them motivated.
What are some things that frustrate you at work? ›
Poor work-life balance: Some jobs require long hours, which can be exhausting and leave little time for personal pursuits. Unsupportive work culture: A negative or toxic work culture can be draining and demoralizing. Limited opportunities for growth: Feeling stuck in a dead-end job can be frustrating and disheartening.
What are the important questions in financial management? ›
Financial Management-Important Questions
- Explain the term financial management?
- List any 5 factors determining the capital structure?
- Distinguish between over – capitalisation and under capitalisation?
- “One of the effects of under – capitalisation is that the market value of shares goes up.
Thus, three basic questions are addressed by the study of finance:
- 1 What long-term investments should the firm undertake? ...
- 2 How should the firm raise money to fund these investments? ...
- 3 How can the firm best manage its cash flows as they arise in its day-to-day operations?
When it comes to managing finances, there are three distinct aspects of decision-making or types of decisions that a company will take. These include an Investment Decision, Financing Decision, and Dividend Decision.
What are the key questions financial planning must answer? ›
The key questions financial planning must answer are: What specific assets must the firm obtain in order to achieve its goals?, How much additional financing will the firm need to acquire these assets?, How much financing will the firm be able to generate internally (through additional earnings), and how much must it ...
