Head of Finance Salary UK
Head of finance supervise financial activities of an organization, they forecast financial results, manage a budget, and oversee any risk, and create risk mitigation strategies. The Head of finance 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.
Average Head of finance salary in United Kingdom
The average salary of the head of finance in the United Kingdom is £67,768/yr. The average is calculated from the sample of four different hiring websites, including Glassdoor, Payscale, UKtalent, and totaljobs. This average is based on a sample of 8,182 job posts on the mentioned websites.
The salary range of the head of finance varies from £35,000 to £111,000 in the United Kingdom. This range is due to many factors, variables, which are discussed next.
Variables that determine salary of Head of Finance in United Kingdom
- Geographical location: The pattern of salaries paid in the United Kingdom varies from location to location. The highest paying cities for the head of finance of the UK are London, Birmingham, Manchester, and Bristol.
- Level of experience: The experience of an accounts administrator 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 are looking for the head of finance. So as an aspiring individual for the head of finance you can work in any field and sector of your interest. A large to a 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 head of finance post is a bachelor’s degree in accounting, finance, business administration, or relevant certification (CFA/CPA). The experience required by the organization is 10+ years in senior managerial posts.
The skills prerequisite by any organization for the post of head of finance 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 head of finance, your career can progress to Managing Director (administration & finance, or operations, or accounting & finance) and then to Chief executive officer (CEO).
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“Head of Finance Salary UK”
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