Financial Managers
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Automation 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.
User poll
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(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
The number of 'Financial Managers' job openings is expected to rise 16.8% by 2032
Total employment, and estimated job openings
Updated projections are due 09-2023.
Wages
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
Volume
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
Comments
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.
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.
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