Financial management is the key to maximize the wealth of the shareholders and project the growth of companies.
Today, thanks to globalization, the business world has become an increasingly changing, competitive and volatile environment, so the administrative and financial management of a company aims to effectively adapt to the market where it performs.
Based on the aforementioned, the role played by finances in an organization is important and relevant since they have as their main function to maximize the wealth of shareholders or investors by applying financial strategies that allow reducing, controlling and managing the different risks to which The business is associated, as well as looking for financing alternatives to increase the profitability of the company.
Therefore, the Stock Market is a private organization that allows raising and placing funds through direct financial intermediation, which generates economic benefits for both natural and legal persons.
financial management salary review
What Is the Fixed Monthly Salary of a Finance Director?
380,000. This figure corresponds to the monthly remuneration of a CFO, an executive position that implies the supervision of financial area managers within multinational companies
The salary of someone who is in charge of a Management of Administration and Finance in a multinational firm or in a national company of approximately 200 employees, ranges from $ 200,000 to $ 280,000 gross. The value may vary depending on the number of people in charge.
The remunerations of the different positions of headquarters within the Finance area vary between $ 130,000 and $ 180,000, depending on the structure of the company and the specific activity category. Currently, the top positions in the finance area are reporting and management control.
These positions usually contemplate, additionally, an average bonus of 2.5 salaries, while in the case of CFOs one can speak of a bonus of up to 6 salaries. Beyond the benefits of an attractive bonus and a first-rate health plan, there are extended vacations, per diem, corporate car, and, in the top positions, the fidelity bonus plan.
During 2019 there was a sustained demand from companies to cover positions within the financial areas. This behavior was due to the economic context and the need to promote strategic changes in these sectors of the organizations.
Optimize results with more qualified financial management
Easy to define, but difficult to implement, financial management summarizes the tasks of the entrepreneur who seeks success: planning, analyzing and controlling the financial resources of the company in search of the best results. If you find it difficult, we have selected some tips to simplify the process and allow your company to grow as expected.
Financial management requires training
Control over resources and processes is a condition for the entrepreneur to be successful, however, it can also mean failure. Making the right decisions is not a simple task since it requires business vision, qualification, and training.
Managing a successful company
Basically, the task of a manager is to seek operational efficiency and control of all the financial activities of the company. If you are competent in that mission, you will be able to analyze the big picture through reports and surveys to eventually correct strategic planning for better results. Some of these procedures include:
– Financial planning: analyze the results and plan actions to improve performance and increase efficiency.
– Resource management: negotiate and attract resources to promote the growth of the company.
– Analysis and collection credit: to deal with clients it is necessary to analyze the granting of credits with criteria, in addition to managing the payment of credits granted.
– Cash control: attention should be focused on the cash balance as well as the accounts receivable and payable. Fully controlling cash flow is the mission.