How to Become a Finance Manager in the UK
Finance managers run the day-to-day finance function of a business. You oversee the monthly management accounts, budgets and forecasts, cash flow, payroll and supplier payments, keep financial controls working, prepare for the annual audit and explain the numbers to directors. Most also manage a small team of accountants and finance assistants.
The usual route is to qualify as an accountant through ACA, ACCA or CIMA while working, then spend several years as a management or financial accountant. Expect 5 to 8 years from your first finance job to your first finance manager role.
Quick facts
- Starting salary
- £45,000 - £60,000
- Mid-career salary
- £60,000 - £85,000
- Senior salary
- £95,000 - £140,000
- Work environment
- Office or hybrid
- Time to entry
- 5 - 8 years (ACA/ACCA/CIMA)
- Degree required
- Usually required
- Category
- Business, Finance and Legal
Compare pay across careers in the UK salaries by career report. Also in: High-paying careers.
What a Finance Manager does
Run a company's day-to-day finance function - reporting, controls, planning, team.
- Management Accounts - Monthly reporting and variance analysis.
- Group Finance - Group consolidation and statutory accounts.
- FP&A - Forecasting, budgeting and business partnering.
- Treasury - Cash, FX and funding management.
How to become a finance manager in the UK
Most finance managers are qualified accountants. You can start with an accounting degree, or any degree followed by a trainee role, or go in without a degree through the AAT qualification or an accountancy apprenticeship. The main professional qualifications are the ACA from ICAEW, ACCA, and CIMA, which focuses on management accounting and suits roles in industry. The Level 7 accountancy or taxation professional apprenticeship lets you train for these while employed. Smaller companies sometimes appoint part-qualified finance managers with strong experience, but chartered status is expected for most roles and for promotion to financial controller or finance director.
- Get a first finance job, such as accounts assistant or trainee accountant, to learn bookkeeping, reconciliations and month-end routines.
- Start the AAT qualification if you have no degree, or go straight into ACA, ACCA or CIMA if you have a degree or relevant exemptions.
- Ask your employer to fund your studies, often through an accountancy apprenticeship, and plan exam sittings around your busiest reporting periods.
- Take on management accounts, budgeting and variance analysis work, since these are the core of most finance manager roles.
- Learn your company's finance system and Excel properly, including lookups and pivot tables, and get involved in any system upgrade project.
- Supervise junior staff or run part of month-end before you apply, as most finance manager roles expect evidence of managing people.
- Apply for finance manager roles once you are qualified or close to it, usually after time as a management accountant or financial accountant.
| Route | How long | Cost | Best for |
|---|---|---|---|
| Degree, then ACA, ACCA or CIMA trainee role | 3 years plus 3-4 years of exams | Tuition fee loan; exams often employer-paid | Graduates |
| AAT, then ACCA or CIMA | 4-6 years | Often employer-funded | School leavers and career changers |
| Accountancy apprenticeship (Level 4, then Level 7) | About 4-5 years | Paid by the employer | Earning while you qualify |
How long it takes
Most people reach finance manager after 5 to 8 years, which covers qualifying as an accountant and gaining management accounts experience. Starting AAT or an apprenticeship straight from school can get you there by your mid-twenties.
Finance Manager salary in the UK
Finance managers usually earn around £45,000 to £60,000 in their first role. Experienced finance managers typically earn £60,000 to £85,000, and senior finance managers or financial controllers in larger groups can reach £95,000 to £140,000. Pay depends on company size and complexity, whether you are fully qualified, your sector, and location, with London and the South East paying most. Bonuses are common in private companies, and interim finance managers can earn more on day rates.
Key skills
- Management accounting
- Controls
- Leadership
- Reporting
- Systems
Will finance jobs be replaced by AI?
High exposure. Finance is the most AI-exposed sector in the UK, and finance managers sit near the top of the occupation rankings. The reporting and processing side is automating fastest; the parts that need commercial judgement and accountability are not.
The DfE study ranked financial managers and directors second of all occupations for AI exposure, and found finance and insurance to be the most exposed sector.
What AI already does in this job
- Month-end close and reconciliations
- Management reporting and commentary
- Forecast models and variance analysis
What stays with a person
- Commercial decisions with the leadership team
- Accountability for the numbers
- Managing a finance team through change
Position yourself as a commercial partner to the business rather than a report producer, and lead the automation of your own function before someone else does.
Careers that reuse your skills with less AI exposure
- Insolvency Practitioner - statutory, negotiation-heavy finance work
- Commercial Manager - deals and contracts, not reports
- Operations Manager - runs the business rather than reporting on it
More on AI and work: check another job, jobs AI will replace, AI-proof jobs.
Our rating judges how much of the role's everyday work current AI tools can already do or draft; it measures exposure, not job losses. Occupation findings are from the Department for Education, The impact of AI on UK jobs and training (November 2023).
Finance Manager FAQs
How do I become a finance manager in the UK?
Start in a finance role such as accounts assistant or trainee accountant, qualify through ACA, ACCA or CIMA, and gain several years of management accounts and team experience. Most people reach finance manager 5 to 8 years after starting out.
Do you need to be a qualified accountant to be a finance manager?
Usually. Most finance manager jobs ask for ACA, ACCA or CIMA, or for you to be nearly qualified. A degree is common but not essential, because you can start with AAT or an apprenticeship and qualify while working.
How much does a finance manager earn in the UK?
Finance managers usually earn around £45,000 to £60,000 in a first role, rising to £60,000 to £85,000 with experience. Senior finance managers and financial controllers in larger groups can earn £95,000 to £140,000.
Is ACCA or CIMA better for a finance manager?
Both are respected. CIMA focuses on management accounting, budgeting and business decisions, which fits most finance manager roles in industry. ACCA is broader and also covers audit and financial reporting. ACA is often the choice if you train at an accountancy firm.
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