Controller Job Descriptions, Types, and Salary Ranges
Acquiring accounting certifications require graduate degrees in accounting or finance and years of experience working in the field. In advance of a merger, an acquisition, or an expansion into new markets, an organization has to be ready to grow not only in size but also in scope and complexity. How can an organization equip its financial operations to accommodate growth? During this webinar panel, learn from Christine Gu, SVP Finance/CAO @ Clarify Health Solutions, and Kimberly Hollinger, Controller @ Wag! Group, who will share experiences and advice for adapting financial operations as organizations mature. A financial controller (or finance controller) is in charge of a company’s accounting and regulatory compliance.
Your Unfair Advantage in the Hiring Market
They’re heavily involved in a company’s bookkeeping processes, with special attention given to tax planning and reporting, auditing, insurance, and the implementation of information technology. In most cases, the road toward becoming a controller starts with a Bachelor’s degree, usually in a subject like finance, accounting, business, statistics, or economics. Without that, you’ll have a really hard time getting the time of day from the hiring manager, let alone a job offer. As businesses navigate the challenges of attracting top accounting talent in an increasingly competitive market, remote hiring through a staffing agency presents a viable, cost-effective alternative.
A controller’s main responsibilities focus on managing (or controlling) an accounting department or a company’s entire financial life. When it comes to accounting operations, controllers reign over that domain. They are the subject-matter experts the organization relies on to keep things in order. Entry-level controllers typically start out earning between $50,000 and $75,000 per year. Those with little to no prior experience can expect to be on the lower end of that range. Location also plays a role, with higher salaries generally seen in major metropolitan areas and financial hubs.
A comptroller tends to have broader responsibilities, and is regarded as an even more senior position than controllers working in other sectors. A controller’s career often starts with multiple years spent in various accounting positions before moving up to become an assistant controller. Their time working as an assistant controller helps them develop the necessary managerial skills and experience to serve as a controller. The next stage in the career path could be stepping into the role of finance director or chief financial officer. There are a lot of factors that go into the controller salary and compensation package. As a controller, there is usually more responsibility and management expected than an accountant so one can expect a higher controller salary to reflect that.
Find the talent you need to grow your business
Again, the controller may not conduct these duties on their own, but they are responsible for reviewing the work of their employees and using their findings to make final decisions on budgeting matters. However, Earley said the 56 age cut-off only applies to those actively working traffic, so controllers who are not yet ready to retire can take a desk or management job instead. Earley explained the job’s salary, which increases with seniority, plus the benefits provide a good work-life balance. Air traffic controllers are responsible for about 50,000 daily flights in the US, so safety is the most important aspect of the job. While some controllers find the job extremely stressful, Earley said that isn’t the case for him because he enjoys solving a new problem every day.
They oversee all employees involved in the accounting process, including accounts receivable (AR), accounts payable (AP), payroll, inventory, and compliance. Even better for larger companies or corporations is some experience working with a team of accounting professionals and even having some managerial experience over a team or at least a section of a team. A small company controller may end their day by sitting down with executives or owners to give executives what you need to know about controller salaries and jobs or owners a big-picture view of the company’s current financial situation. Owners or executives will use that information to make strategic operations decisions to help plan for the future. A financial controller working in a small company, (without a large team of financial professionals to manage), has a very similar day to that of an accountant – with some extra responsibility to boot. A controller, by definition, oversees an organization’s day-to-day financial operations and serves a crucial role in company reporting processes.
Preventing Burnout in Tech Teams
It all depends on the size of their company and the organization’s unique needs. Many controllers choose to retire early after completing their required 25 years of service, Duffy said, exacerbating the staffing issues. “Everyone is actually able to see what is going on with any particular person’s work at the time, so it is one team, one fight,” he said. “If we notice something is a little out of sorts, we can bring that to the controller’s attention, and they can fix it before it becomes a bigger problem.” Earley also explained that there are redundancies in the job to elevate safety and that other controllers and supervisors help check each other’s work.
Average Salary
Most often, this means assisting with managing, auditing, budgeting, and other detail-related tasks, all while working under the supervision of the company’s full-time controller. Beyond these day-to-day needs, financial controllers frequently oversee special projects and may also work in other areas like project management or compliance. Financial controllers are detail-oriented and often oversee teams to ensure the proper management of financial data. The base salary of a corporate controller ranges from $138,166 to $181,225, with an average salary of $157,283.
The ideal controller resume lists 10+ years experience working as an accountant in a position that allows for deep understanding of financial trends, for both reporting and forecasting. It also lists an MBA in finance or master’s degree in accounting as well as a CPA, CMA or CGMA certification. Controllers often report directly to company owners or CEOs, and have an integral role in shaping companies’ financial futures.
- Those with little to no prior experience can expect to be on the lower end of that range.
- Within these industries, large enterprises and firms in major metro areas tend to offer higher pay.
- The most experienced controllers in Canada take home over $196,919 per year.
- A strong culture can significantly impact productivity; studies show that 65% of employees believe they would be more productive at home than in the office, highlighting the importance of a supportive work environment.
- Most often, this means assisting with managing, auditing, budgeting, and other detail-related tasks, all while working under the supervision of the company’s full-time controller.
Within that range you have freedom to balance or negotiate the package with benefits, options, perks, and other factors. There are no hard and fast educational requirements that exist for those wishing to become company controllers. This job requires ensuring that the company makes AP payments on time and that debt is serviced properly.
Qualifications to Become a Controller
The average controller salary is between $110,000 and $180,000 per year, though this wide range is affected by factors such as experience, company size, scope of role, industry, and more. Controllers are senior-level executives who work as the heads of accounting. Your job is to oversee the preparation of financial reports, including income statements and balance sheets. Controllers are also responsible for ensuring accurate ledgers, tracking money coming into the company and eliminating any mistakes.
- Accounting personnel at these subsidiary operations generally report to an accounting manager or vice president at the subsidiary, who in turn reports to the controller at the parent company.
- The role may also have an information technology (IT) component and include business development.
- U.S. Bureau of Labor Statistics data indicates employment for financial specialists is projected to grow by 6 percent from 2021 through 2031.
- Controllers give expert, data-driven advice to executives and managers on how to best take advantage of complex financial information to guide investments and marketing strategies.
Boutique Recruiting’s expertise in personalized talent acquisition ensures that your recruitment process is tailored to meet the unique needs of your firm. Great controllers organize accounting staff and delegate assignments efficiently to further organizational goals. In small companies, great controllers manage all of a company’s financials and follow custom-designed policies and procedures for keeping accounting records and creating official statements. Controllers are in charge of all accounting and financial operations in a company. That includes minimizing risk by creating thorough quality control reports and budgets, producing accurate financial reporting of fiscal activity, and maintaining well-documented financial records. As controllers gain more hands-on experience and take on greater responsibilities, their salaries tend to increase steadily over time.
In the competitive landscape of financial management, the role of a controller is undeniably critical. As organizations strive for financial integrity and strategic growth, crafting precise job descriptions is essential for attracting the right talent. This article delves into the key responsibilities and qualifications required for controllers.
