Education and Training: Bachelor’s preferred
Average Salary: $115,000 per year
Job Outlook: Fair
A treasurer is a financial manager who can work in a variety of different situations. Most of the time, a treasurer works in close contact with a board of directors, and in some situations may be on the board. Treasurers can work in corporate situations, but they may also be elected officials, as in the case of a school board treasurer. The actual duties of a treasurer can vary dramatically depending on where they work.
In general, though, a treasurer is responsible for helping a corporation or organization meet its financial goals by managing the budgeting and investment for a company or organization. The treasurer may also prepare financial statements, prepare and file tax returns, supervise finance-related employees who work with things like payroll and budgeting, or directly care for some of the banking requirements of the organization. Many treasurers are also the main contact for the bank, insurance company, and other similar organizations that the board or organization has a relationship with, so they take care of building and maintaining relationships with these organizations.
Education and Training Requirements
As with most other finance management positions, a treasurer position requires a bachelor’s degree in finance or a related field, such as business administration or accounting. Because jobs are so competitive in the financial field at the moment, those with master’s degrees can make themselves more competitive. Master’s degrees in business administration, economics, and finance are particularly helpful.
Besides this, many treasurer positions require at least some level of hands on experience in the field, and some treasurers come from positions in banking or lending offices so that they have a greater upfront knowledge of how the world of finance works.
Getting the Job
Job requirements for different treasurer positions can vary greatly. Those working for a public organization like a city or school board are elected officials and must campaign like every other elected official. Those who work for corporations may work their way into a treasurer position by starting in a regular accounting position, or they may be hired straight out of a bachelor’s or master’s degree program.
Job Prospects, Employment Outlook and Career Development
Job prospects for treasurer positions are about average, but competition is expected to be fierce over the next few years, as many graduates in finance seek out positions like these. Treasurers may be able to take on more responsibility or work with larger companies by gaining certification like the Certified Treasury Professional credentials available through a computerized test. Continuing education can help professionals in this field develop their skills and take on more responsibility, thus earning higher pay.
Working Conditions and Environment
Treasurer positions are generally not high-stress unless a treasurer must deal with a crisis situation. These positions are generally forty hours per week and are usually office-based. However, some treasurers may be required to attend board meetings and other events outside of their normal work hours.
Salary and Benefits
The average salary for a treasurer is about $115,000 per year in the corporate environment. Treasurers who work for local governments make around $78,000 per year on average. Treasurers can make anywhere from $70,000 to more than $135,000 per year, depending on experience as well as on the company for which they work. For the most part, these full time positions come with bonuses and benefits, as well as paid time off.
Where to Go for More Information
To find out more about treasurer requirements and job opportunities, check out the following resources:
Association of Corporate Treasurers
London EC2R 6BH, United Kingdom
+44 (0)20 7847 8744
Association for Financial Professionals, Inc.
4520 East-West Hwy., Ste. 750
Bethesda, MD 20814
Financial Management Association
University of South Florida
4202 E Fowler Ave., BSN 3331
Tampa, FL 33620