Financial Managers

AUTOMATION RISK
CALCULATED
65%
risk level
POLLING
41%
Based on 517 votes
LABOR DEMAND
GROWTH
16.8%
by year 2032
WAGES
$139,790
or $67.20 per hour
Volume
740,780
as of 2022
SUMMARY
JOB SCORE
7.2/10

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Automation risk

65% (High Risk)

High Risk (61-80%): Jobs in this category face a significant threat from automation, as many of their tasks can be easily automated using current or near-future technologies.

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

41% chance of full automation within the next two decades

Our visitors have voted they are unsure if this occupation will be automated. However, the automation risk level we have generated suggests a much higher chance of automation: 65% 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(s) are 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 16.8% by 2032

Total employment, and estimated job openings

* Data from the Bureau of Labor Statistics for the period between 2021 and 2031
Updated projections are due 09-2023.

Wages

Very high paid relative to other professions

In 2022, the median annual wage for 'Financial Managers' was $139,790, or $67 per hour

'Financial Managers' were paid 201.9% higher than the national median wage, which stood at $46,310

Wages over time

* Data from the Bureau of Labor Statistics

Volume

Significantly greater range of job opportunities compared to other professions

As of 2022 there were 740,780 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 199 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

Resources

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Comments

David (Low) says
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.
Sep 08, 2023 at 03:50 AM
Voter 325 (Moderate) says
I think it will be. Because AI is growing up so fast.
Apr 17, 2021 at 04:14 PM
Zach says
@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.
Sep 07, 2020 at 10:48 PM
Openyour Eyes says
Hahah sorry I guess you haven’t seen what AI can do. We’re all stuffed…
Jan 26, 2023 at 01:26 PM
Casey kerr (Highly likely) says
Dude people shouldn't be giving financial advice. Only robots.
Nov 29, 2019 at 06:08 AM
Bill Williams says
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.
Oct 27, 2020 at 08:52 AM
Paul Whitmore says
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.
Jun 16, 2021 at 09:40 AM
David says
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.
Jul 11, 2021 at 05:48 AM

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