Financial Managers (Officer)
Opportunities
Financial managers direct and coordinate financial management functions and serve as advisors to leadership on all matters pertaining to programming/budgeting, finance and accounting, and cost analysis. They perform managerial operations, including the establishment of performance standards and priorities for personnel, and security requirements for safeguarding assets. They are responsible for the management of financial operations and for providing advice on effective use and redistribution of resources within fund limitations.
Training Provided
Financial managers may have an education in accounting, finance, or a related field. Job training for financial managers consists of classroom and on-the-job learning in various training environments.
- Financial management techniques, including budget preparation and review
- Military finance and resource management
- Government accounting and budgeting systems
- Personnel management and evaluation
- Accounting and auditing
- Effective allocation of scarce resources
Officers typically enter the Military after they have completed a four-year college degree; enlisted service members can transition to officer positions through a variety of pathways and earn a degree while serving. Officers complete a comprehensive training program covering responsibilities, military structure and etiquette, traditions, and leadership development.
Earnings
Officers in the military can progress through ten officer pay grades during their careers. Pay grade and length of service determine an officer's pay. Most newly commissioned officers begin at pay grade O-1 ($43,646/year basic pay in 2023). With certain professional qualifications, officers may enter at a higher pay grade. After two years, officers generally move up to O-2 ($57,272/year basic pay in 2023). After an additional two years, the military generally promotes officers to O-3 ($77,637/year basic pay in 2023) if job performance and other requirements are met. Cost-of-living increases usually occur once a year. Many officers and their families live free of charge in military housing on the base where they are assigned. Those living off base receive a housing allowance in addition to their basic pay. Officers also receive a monthly food allowance. These allowances, and associated tax savings, are substantial additions to basic pay. Other employment benefits for military officers include free health care, 30 days paid vacation each year, legal assistance, education assistance, military store privileges, and an excellent retirement program.
Services offering this occupation
Air Force
Army
Coast Guard
Marine Corps
Navy