Financial controllers, or a finance auditor, review control policies and financial reports of a company in the finance sector. Salaries in the finance sector tend to be large, noted with numerous financial benefits. Financial controller salary rates are influenced by education levels, the size and profitability of the employer, economic environments, and past experiences.
Proper accreditation and level of any attended colleges will be a factor that will influence the salary of a financial controller. Employers tend to invest on potential employees who have ample education levels backed up with relevant professional endeavors. Finance auditors can usually have an advantage over the competition by attending an accredited business graduate school, which will showcase their dedication to education.
Financial controller salary rates are also influenced by the size and number of employees working in a company. If a company has many financial controllers working for it, then there will be less of a demand for new recruits to join the finance team. A low employment turnover rate can indirectly influence salary rates as well. Companies that have a relatively low employment turnover rate will facilitate growth within the company, allowing employees to have the chance to be promoted and gain a larger salary.
A company's profitability will also be a factor when formulating financial controller salary rates. Larger companies will usually have the resources to pay out a larger salary, with the opposite being true for smaller firms. The nature of the job will also be a factor of a financial controller’s pay rate. Some companies will require financial controllers to audit multiple franchises and business ventures, which usually means a higher salary rate. Private, more localized financial institutions that only work with local businesses will only need a financial controller to work with local organizations, with duties usually being less complicated.
Local and global economic environments can also influence pay rates of a company’s employees. If the economic environment is declining, then it may be reflected in the financial controller salary rates. An active recession may cause employers to lay off high-ticketed employees, especially in jobs associated in the finance sector.
Financial controllers can indirectly influence pay rates by highlighting past jobs and professional experiences on their cover letters and resumes. Many financial institutions are willing to pay higher salary rates for employees who have more of a hands-on, comprehensive job experiences. Pay rates may be influenced by the amount and complexity of past managerial duties relevant to business finance as well.