An assistant controller works for the corporate financial manager who supervises the accounting department and directs the preparation of financial reports. Assistant controllers review income and expense statements and budgets, and they analyze projected future earnings and expenses to evaluate the organization's financial position. They also assist in preparing reports for regulatory authorities. Assistant controllers generally earn high incomes.
The median salary for an assistant controller as of March 2011 is $116,323 per year, finds Salary.com. The middle 50 percent of assistant controllers earn $97,923 to $139,360 per year. The top 10 percent have salaries of $160,334 and higher, and only the bottom 10 percent earn $81,171 per year and less.
While the U.S. Bureau of Labor Statistics does not provide salary data for assistant controllers in particular but rather for all financial managers combined, they show financial managers earning significantly higher salaries in certain regions. Salary.com confirms this for assistant controllers. These financial professionals in Wilmington, Delaware, have a median salary of $121,558 per year; in Washington, D.C., $126,792; in Boston, Massachusetts, $129,933; in Stamford, Connecticut, $133,539; in Newark, New Jersey, $136,680; in New York City, $138,076; and in San Jose, California, $139,588. The top 25 percent of assistant controllers in San Jose earn more than $167,000 per year, and the top 10 percent more than $192,000 per year.
With extensive experience, an assistant controller may advance to a controller position. Controllers have a median annual salary of $169,150, according to Salary.com. Even the bottom 10 percent of controllers can earn up to $110,000 per year. The middle 50 percent salary range for these financial managers is $138,211 to $212,351, and the top 10 percent earn more than $251,000 per year.
Although the U.S. Bureau of Labor Statistics sees average employment growth in all financial management jobs, the number of available positions will probably be less than the number of qualified candidates. Mergers, acquisitions and downsizing have led to this situation, creating competition for financial management jobs.
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Duties of an Assistant Financial Controller
Assistant financial controllers are professionals who help controllers direct the production of financial reports to help forecast a company’s financial state, according...