How Can I Become a Treasurer?
Research what it takes to become a treasurer. Learn about education requirements, certification and job duties to find out if this is the career for you.
What Is a Treasurer?
Treasurers create budgets for organizations and supervise investments for various companies. One of their primary responsibilities is to help their organization reach its financial goals. Treasurers help raise capital as an organization grows and expands, as well as create financial plans if mergers or other acquisitions occur. These professionals produce, analyze and closely monitor a variety of financial reports and statements. They must ensure that all financial matters within the organization comply with government regulations. Treasurers typically make financial recommendations to managers or company executives. Some treasurers may supervise other financial employees and work as a team. Take a look at the table below to see if this profession is a good fit for you.
|Degree Required||Bachelor's degree for entry level; master's degree desired by most employers|
|Education Field of Study||Finance, economics, business administration|
|Key Responsibilities||Create short-term and long-term budgets, monitor assets of an organization, handle investments|
|Job Growth (2018-2028)||16% (for all financial managers)*|
|Median Salary (2018)||$127,990 (for all financial managers)*|
Source: *U.S. Bureau of Labor Statistics
What Kind of Education Do I Need To Be a Treasurer?
The primary duty of a treasurer, or financial manager, is the administration of an organization's finances. You could be formulating and managing short- and long-term budgets, handling investments and monitoring the individual and total assets of an organization. Because this is a considerable responsibility that demands precision, treasurers are generally expected to be highly qualified.
To prepare for a career as a financial manager, you should pursue a bachelor's degree in business, with an emphasis on accounting or economics courses. Your studies in this area will usually include some exposure to general business issues, as well as financially focused statistics, accounting and economics.
However, due to the competitive nature of the field, financial managers frequently go on to post-graduate education. If you're interested in earning an advanced degree, many universities offer programs culminating in a Master of Business Administration (MBA). An MBA is a terminal degree in the field of business that emphasizes management operations and strategies. Additionally, master's degrees in accounting and economics are common in the financial management field.
Do I Have To Be Tested or Licensed?
Financial managers frequently work as accountants. If this is the case, you will need to be certified. This entails passing an exam administered by the American Institute of Certified Public Accountants (AICPA), as well as meeting the individual certification requirements of the state in which you wish to work (www.aicpa.com).
What Kind of Skills Do I Need?
Financial managers perform a critical duty in the operation of an organization and collaborate heavily with other management figures. For this reason, you should have superb communication and interpersonal skills. You should also possess strong mathematical and analytical skills. Finally, handling financial assets is a serious responsibility, and an attention to detail is paramount.
Where Can I Work?
Financial managers are a necessity in a variety of private and public ventures. You may work as an accountant for a large multinational corporation or as the treasurer on the board of a credit union. Branch management for local and national banks may also serve as financial managers. Other opportunities include positions in investment firms, though these are highly competitive.
What Are Some Related Alternative Careers?
Loan officers, insurance underwriters and budget analysts are just a few of the related careers that require a bachelor's degree. Loan officers are responsible for reviewing and making recommendations on the acceptance or denial of loans. They may evaluate loans from individuals or organizations. Insurance underwriters determine the price and coverage of various insurances. They make these determinations based on the terms that are created for the policy. Budget analysts create and manage budgets for a variety of organizations.