Finance Director Salary UK

Finance Director Salary UK

The Finance director supervises the financial activities of an organization, they forecast financial results, manage a budget, and oversee any risk, and create risk mitigation strategies. They are strategic thinkers and effective leaders that make financial decisions for the organization. The finance director is responsible for accurate reporting of financial data and reports to the chief executive officer/managing director or chief operations officer. Other duties performed by the head of finance are as follows:

  • Forecast monthly, quarterly, and annual results.
  • Evaluate and conduct risk management.
  • Allocate resources, manage cash flows, and make investment decisions.
  • Perform profit and cost analysis.
  • Ensure all financial activities are complying with financial regulations.
  • Recommending funding options and cost-reducing solutions to board members.
  • Organize, plan, and achieve organization financial goals.

The goal of the finance director position is to guide the company towards profitability and long-term success.

Average Finance director salary in United Kingdom

The average salary of a finance director in the United Kingdom is £75,990/yr. The average is calculated from the sample of five different hiring websites, including Glassdoor, Payscale, Reed, and totaljobs. This average is based on a sample of 1,699 job posts on the mentioned websites.

The salary range of a finance director varies from £35,000 to £136,000 in the United Kingdom. This range is due to many factors, variables, which are discussed next.

Variables that determine salary of Finance director in United Kingdom

  1. Geographical location: The pattern of salaries paid in the United Kingdom varies from location to location. The highest paying cities for a finance director of the UK are London, northwest London and Birmingham.
  2. Level of experience: The experience of a finance director depends; the more experienced the individual is the more pay he/she would get.

Skills, Qualification and Career Development

There is a diverse range of industries and sectors which need a finance director. So as an aspiring individual for the finance director you can work in any field and sector of your interest. A large to medium-sized organization has an in-house account and finance department. There are certain agencies that specialize in providing financial services to organizations and can be your future hiring organization.

The organization’s educational requirement for a finance director post is a bachelor’s degree in accounting, finance, business administration, or relevant certification (CFA/CPA). The experience required by the organization is 7+ years in senior managerial posts.

The skills prerequisite by any organization for the post of finance director are as follows:

  • Excellent accurate and timely decision-making ability.
  • Outstanding time-management and problem-solving ability.
  • Excellent interpersonal and intrapersonal communication and leadership skills.
  • Professional written and communication skills.
  • Strategic thinking, planning, and creative problem-solving skills.
  • Collaborate with upper management and ability to work under pressure.
  • Advanced computer software skills.

The individual capability and skills help him/her progress his/her career in the future. As a finance director, your career can progress to Chief executive officer (CEO).

 

Click here to see a list of sample interview questions.

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