Being a financial controller, you will be a senior-level manager who looks after the business day to day financial operations. A financial controller even called the company historian.
You have to run the accounting function of the company and will be responsible for the company’s books and records. The role of a financial controller is to lead the accountant.
Advantages and Disadvantages of Being a Financial Controller
|ADVANTAGES OF BEING A FINANCIAL CONTROLLER||DISADVANTAGES OF BEING A FINANCIAL CONTROLLER|
|1. Financial controllers can earn a decent amount of money||1. Financial controllers need a college degree|
|2. Being a financial controller can be challenging||2. Many years of educations required|
|3. Financial controllers can work with numbers||3. Working as a financial controller can be stressful|
|4. Financial controllers have to work with many different departments||4. Financial controller may have a certain daily routine|
|5. Financial controllers have good work-life balance||5. Unclear long term job situation|
|6. Financial controllers can work indoors||6. Not easy to get a job as a financial controller|
|7. Financial controllers can often get into leading positions|
Advantages of Being a Financial Controller
Financial controllers can earn a decent amount of money
It is one advantage that being a financial controller you can earn a really good amount of money. Many financial controllers’ starting salary is more than 80000 in dollars in a year and they earn this amount just after completing their college.
In most states, experienced financial controllers can earn up to the six-figure amount and if you get a leading position in your company then you can earn a pretty big amount as your income.
Being a financial controller can be challenging
Being a financial controller, you will often have to face many challenging tasks and moments which you will not know how to deal with at first. While these challenges will make you more experienced in your career.
As we all grow and develop by facing challenges and dealing with them. By working as a financial controller, you will face many challenges which will drive you to the top and as an experienced employee in your career.
Financial controllers can work with numbers
Being a financial controller, you have to work with numbers most of the time. If you are a person who gets interested in working with numbers then this post is one of the best to make as your career.
In this post-processing, numbers will be one of the main tasks you have to deal with. Hence, you should take the decision of being a financial controller in an honest manner.
Financial controllers have to work with many different departments
As a financial controller, you will also have to work with many different departments within your organization.
The financial controller has to maintain the books and records of several projects and different departments to make the company successful and competitive in the long run.
Thus, you have to be very much responsible and also you have to face new challenges with day-to-day changes in the accounts which will make you a really sharp and experienced man in your career.
The financial controller has a good work-life balance
Thou you might have a busy schedule someday, for regular working hours, you will also have a good work-life balance. Most often, you will have free time to meet your friends and family or your favorite person to spend time with them.
You will also get free weekends so you can also plan trips for the weekends with your family or friends.
Most of the large firms even offer sabbaticals to their employees, which means you can even take a whole year off work and travel the world or can do whatever you like to do.
Financial controllers can work indoors
Another advantage of being a financial controller is that you can have a good working environment inside an office.
While many people out there on some other job have to work under the naked sky in cold winter or hot summer. While on the other hand you will have a good working environment under air condition or any luxurious environment.
A financial controller can often get into leading positions
If you can be good at what you are doing and can stay long in your company then there are pretty good chances to get into a leading role or even become a board member of your company. Hence, the longer you can stay at your company the more likely it gets to be promoted as a financial controller.
Disadvantages of Being a Financial Controller
Financial controllers need a college degree
It is one of the disadvantages that to become a financial controller you need a college degree.
Also, the companies want employees who have a master’s degree for controlling positions. So before thinking about making your career as a financial controller make sure that you have a degree in master.
Many years of educations required
As many large firms need a master’s degree for the qualification of a financial controller, you have to be prepared to work quite long for your education. It will take a minimum of 5 years to complete your master’s degree course.
And even after completing your degree course, you have to deal with many competitive exams in the local job market. As for all this, you may have to take an education loan.
Working as a financial controller can be stressful
Another disadvantage with being a financial controller is that you may have to take a lot of stress.
Especially if you want to have a leading post then it will become a very responsible work as there will be a whole team whom you have to lead.
For a single small mistake of yours, the entire team may have to suffer. so being a financial controller is quite stressful, if you are a person who is not good at taking stress then you should think about some other job career.
The financial controller may have a certain daily routine
Being a financial controller, your working days will also be quite standardized. Especially in a large firm, you will not have that much freedom regarding making your work schedule. You will have a standardized procedure that you have to maintain.
Unclear long term job situation
Due to upgrading day by day in our technological progress, it is hard to say how long you can stay in the company.
Moreover, chances are that machines will carry all the responsibilities of work which is currently done by skilled humans. Which will imply that many jobs in this post or most of the posts will be lost. Hence, job security in this field is quite questionable
Not easy to get a job as a financial controller
As many people want to become a financial controllers because of all the benefits in this post. But you should also remember that it will be hard to get a position like this.
Even if you are a good student and get your master’s degree with a good grade that does not mean that you will surely get a position of a financial controller. You might have to work for many years to get in this position in a company.