Financial Managers

Moderate Risk
55%
Where Would You Like to Go Next?
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Vote Comments (9)
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AUTOMATION RISK
CALCULATED
60%
(Moderate Risk)
POLLING
49%
(Moderate Risk)
Average: 55%
LABOR DEMAND
GROWTH
16.5%
by year 2033
WAGES
$156,100
or $75.04 per hour
Volume
787,340
as of 2023
SUMMARY
JOB SCORE
6.7/10

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Calculated automation risk

60% (Moderate Risk)

Moderate Risk (41-60%): Occupations with a moderate risk of automation usually involve routine tasks but still require some human judgment and interaction.

More information on what this score is, and how it is calculated is available here.

Some quite important qualities of the job are difficult to automate:

  • Social Perceptiveness

  • Persuasion

  • Negotiation

User poll

49% chance of full automation within the next two decades

Our visitors have voted they are unsure if this occupation will be automated. This assessment is further supported by the calculated automation risk level, which estimates 60% chance of automation.

What do you think the risk of automation is?

What is the likelihood that Financial Managers will be replaced by robots or artificial intelligence within the next 20 years?






Sentiment

The following graph is included wherever there is a substantial amount of votes to render meaningful data. These visual representations display user poll results over time, providing a significant indication of sentiment trends.

Sentiment over time (yearly)

Growth

Very fast growth relative to other professions

The number of 'Financial Managers' job openings is expected to rise 16.5% by 2033

Total employment, and estimated job openings

* Data from the Bureau of Labor Statistics for the period between 2021 and 2031
Updated projections are due 09-2024.

Wages

Very high paid relative to other professions

In 2023, the median annual wage for 'Financial Managers' was $156,100, or $75 per hour

'Financial Managers' were paid 224.8% higher than the national median wage, which stood at $48,060

Wages over time

* Data from the Bureau of Labor Statistics

Volume

Significantly greater range of job opportunities compared to other professions

As of 2023 there were 787,340 people employed as 'Financial Managers' within the United States.

This represents around 0.5% of the employed workforce across the country

Put another way, around 1 in 192 people are employed as 'Financial Managers'.

Job description

Plan, direct, or coordinate accounting, investing, banking, insurance, securities, and other financial activities of a branch, office, or department of an establishment.

SOC Code: 11-3031.00

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Comments

B (Low) 7 days ago
Decision making based on regulations is needed
0 0 Reply
David (Low) 1 year ago
It would be certain that most accountant will be replaced by AI tools. However, I think finance manager position will remain for next 20 years. It will require some human responsible for all the AI work and review. Certainly these manager job will be no longer managing people only but the system.
1 0 Reply
Voter 325 (Moderate) 3 years ago
I think it will be. Because AI is growing up so fast.
0 0 Reply
Zach 4 years ago
@Casey kerr -- Finance Managers are business managers at corporations. They don't give financial advice to individuals. It's likely that financial advisors' jobs will change a great deal as new technologies emerge that make it easier for people to make investment decisions with machine guidance, but Finance Managers will likely remain. Someone needs to hold the checkbook and manage the budget. Someone needs to be there to decide whether to sign off on projects or not. If tasks like these are handed to robots, it will only be after sufficient technological advances that make humans obsolete in these functions. At that time, the world will look much, much different. This will be one of the later jobs to fall off.
0 0 Reply
Openyour Eyes 1 year ago
Hahah sorry I guess you haven’t seen what AI can do. We’re all stuffed…
0 0 Reply
Casey kerr (Highly likely) 5 years ago
Dude people shouldn't be giving financial advice. Only robots.
0 0 Reply
David 3 years ago
Finance is a weird profession now, the tools for people to do their own retirement funds are basically all free and available.

If you want to buy just FAANG stocks and hold them 20 years you'll probably be fine. What people are missing though is that stocks do not = ALL financial decisions.

The intelligence it takes to mix different things together to keep risk/reward at a good balance to achieve peoples specific goals and the decision making to choose the exact financial instruments for this moment in time cannot be generically automated, there are too many variables.

Financial analyst/advisor are heavy decision making jobs that require a certain knack computers just don't have and will never have.
0 0 Reply
Paul Whitmore 3 years ago
If only robots give Financial Advice, then the competitive edge to Finance will be lost, as a consequence, little to any financial gains will be made by most companies, and individuals. Finance requires the human element along with Data and Decision Science for entities to profit or to remain financially viable.
0 0 Reply
Bill Williams 4 years ago
Finance is a very competitive field.

If only robots gave financial advice, the financial competitiveness of most firms would only be limited to the specs of the robot they employed rather than the prevailing market conditions. Prevailing Market Conditions might become more unpredictable when persons using Artificial Intelligence are trying a gain a competitive edge over firms employing Artificial Intelligence only. Therefore, the firms which end up hiring a combination of tools, both human beings and artificial intelligence, will be the more successful at predicting market trends and profiting from lucrative trades and/or investments.
0 0 Reply

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