Finance salary report 2020
Who’s earning what in the Finance Department? Find out in the Finance Salary Report 2020 (in german).
Job profile
Head of financial accounting (m/f/d)
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Financial accounting directors: playing a central role in accounting
Financial accounting directors assume the functional and disciplinary responsibility for the employees of their company’s accounting department. Besides, they report to the management board, keeping the members informed about the current sales and results figures.
Which opportunities do financial accounting directors have on the labour market?
Since companies of all sizes and in all industries are looking for financial accounting directors, their career prospects are excellent. In many sectors, financial accounting directors with specialist knowledge are in demand – real estate companies, for example, need experts for property accounting. Successful financial accounting directors have good career opportunities: they can be promoted to head of accounting, commercial director or even managing director.
What are the tasks and responsibilities of financial accounting directors?
Financial accounting directors are responsible for all work processes in internal accounting. The preparation of annual and consolidated financial statements according to commercial law is also part of their tasks. In this context, one of their objectives is to implement the guidelines of the management board through accounting policy. In smaller companies, controlling often belongs to the responsibilities of financial accounting directors as well.
Further tasks include:
- Management of accounts receivable accounting, including claims management
- Management of accounts payable and asset accounting
- Cooperation with or takeover of the personnel accounting department
- Liquidity planning and organisation of payment transactions
- Cooperation with auditors, tax consultants and other external service providers
Which hard skills and soft skills should financial accounting directors have?
Most companies want their financial accounting directors to be experienced accountants or to have a university degree in business administration as well as first relevant work experience. As with all jobs in accounting, an excellent understanding of numbers is essential. Financial accounting directors must also have good analytical skills and enjoy working precisely.
Further required skills include:
- A high level of resilience
- Excellent knowledge of German trade and tax law
- Leadership qualities and assertiveness
- Good problem-solving skills
What is the average salary of financial accounting directors?
The salary of financial accounting directors is usually very good: In small and medium-sized companies, they receive an annual salary of between EUR 45,000 and EUR 60,000. In large corporations, they earn up to EUR 90,000, depending on their level of managerial responsibility and their range of tasks.
Find your ideal job as head of financial accounting – with Hays
As head of financial accounting, you will perform a wide variety of tasks and will face numerous new challenges. Continuous further training is essential in this profession, as the legal framework conditions often change.
We will help you find a position that matches both your professional and personal qualifications. Contact us and find out more about our services!
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