All You Need To Know About A Treasurer Career
You consider becoming a treasurer but want to get additional information before making your final career choice?
Great! Stick with me since I will show you everything you need to know about being a treasurer in the following chapters.
Not only will you learn how much you can make as a treasurer, but we will also talk about job satisfaction, future outlook, working hours, educational requirements, duties, promotion opportunities and much more.
At the end of this article, you will also find an FAQ section where I answer the most common questions about working as a treasurer for you.
After reading this article, you will have a much better idea of whether you still want to aspire to a treasurer career or rather want to work in a different field instead.
Without further ado, let’s get right into it!
Table of Contents
What does a Treasurer do?
Treasurers control financial flows inside companies.
Not only do they supervise money flows and make sure that financial funds are distributed and allocated within a company in an efficient manner, but they also make sure that regulatory requirements are met in this regard.
They also prepare financial reports and communicate with senior management and the board of directors so that funds can be used in an optimal manner in the long run and profits can be maximized.
Responsibilities & Duties of a Treasurer
- Allocation of financial funds to projects and departments
- Ensuring that financial funds are used in the most efficient manner
- Making sure that money flows work properly
- Preparation of financial reports
- Giving advice on how to optimize money flows inside an organization
- Financial oversight over big projects within a corporation
- Financial budgeting and planning
- Fundraising
- Financial reporting
- Risk assessment of important projects
- Assuring an optimal mix between equity and debt
- Communication with senior management
- Assuring compliance with regulatory standards
What a Typical Day of a Treasurer looks like?
Most treasurers get to work between 7 and 9 a.m.
The first thing they do is having a look at their schedule and organizing their workday.
They also check their emails in the morning and answer the most urgent and important ones to ensure proper information flows within the company they work for.
After doing some administrative work, treasurers work with financial models and software all day long to ensure optimal money flows and to make capital allocation as efficient as possible.
Not only do treasurers have to be really good at working with numbers, but they also need good people skills since they have to communicate their results to senior management and also have to collect their data from various departments.
After working in this manner for many hours, most treasurers finish their workday between 4 and 6 p.m.
Treasurer Salary 2023
Treasurer salary brackets 2023
| Salary Brackets | Salary (per year) | Salary (per hour) |
|---|---|---|
| Top 10 % | > $124,000 | > $61.95 |
| Top 25 % | $96,000 – $107,000 | $47.92 – $53.47 |
| Bottom 25 % | $57,000 – $62,000 | $28.39 – $30.88 |
| Bottom 10 % | $48,000 – $53,000 | $23.94 – $26.49 |
| Range | $48,000 – $137,000 | $23.94 – $68.43 |
| Average (Mean) | $87,000 | $43.45 |
| Median | $85,000 | $42.49 |
Treasurer salary 2023 by expert level
| Level of Experience | Salary (per year) | Salary (per hour) |
|---|---|---|
| Entry level | $48,000 – $61,000 | $23.94 – $30.46 |
| Junior | $57,000 – $72,000 | $28.39 – $35.89 |
| Professional | $69,000 – $83,000 | $34.41 – $41.47 |
| Senior Professional | $81,000 – $105,000 | $40.45 – $52.48 |
| Expert | $102,000 – $117,000 | $50.92 – $58.44 |
| Top Expert | $115,000 – $137,000 | $57.42 – $68.43 |
Treasurer salary by state 2023 (average)
| State | Salary (per year) | Salary (per hour) |
|---|---|---|
| Alabama | $86,300 | $43.14 |
| Alaska | $88,200 | $44.09 |
| Arizona | $89,800 | $44.88 |
| Arkansas | $85,200 | $42.57 |
| California | $101,600 | $50.79 |
| Colorado | $83,900 | $41.93 |
| Connecticut | $85,200 | $42.58 |
| Delaware | $84,600 | $42.29 |
| District of Columbia | $88,100 | $44.03 |
| Florida | $90,400 | $45.18 |
| Georgia | $87,300 | $43.64 |
| Guam | $84,200 | $42.09 |
| Hawaii | $89,700 | $44.83 |
| Idaho | $84,600 | $42.28 |
| Illinois | $82,300 | $41.14 |
| Indiana | $83,800 | $41.89 |
| Iowa | $81,200 | $40.58 |
| Kansas | $79,700 | $39.83 |
| Kentucky | $80,300 | $40.12 |
| Louisiana | $84,600 | $42.29 |
| Maine | $82,900 | $41.43 |
| Maryland | $91,200 | $45.58 |
| Massachusetts | $89,700 | $44.82 |
| Michigan | $83,100 | $41.54 |
| Minnesota | $81,800 | $40.89 |
| Mississippi | $79,300 | $39.63 |
| Missouri | $78,200 | $39.08 |
| Montana | $83,700 | $41.82 |
| Nebraska | $82,400 | $41.19 |
| Nevada | $80,300 | $40.13 |
| New Hampshire | $84,900 | $42.44 |
| New Jersey | $86,100 | $43.04 |
| New Mexico | $79,400 | $39.68 |
| New York | $102,800 | $51.39 |
| North Carolina | $87,400 | $43.67 |
| North Dakota | $85,600 | $42.78 |
| Ohio | $87,200 | $43.58 |
| Oklahoma | $81,500 | $40.73 |
| Oregon | $83,400 | $41.67 |
| Pennsylvania | $94,800 | $47.39 |
| Rhode Island | $87,400 | $43.68 |
| South Carolina | $85,900 | $42.93 |
| South Dakota | $86,300 | $43.14 |
| Tennessee | $85,100 | $42.52 |
| Texas | $83,200 | $41.57 |
| Utah | $86,800 | $43.38 |
| Vermont | $88,300 | $44.12 |
| Virginia | $84,100 | $42.03 |
| Washington | $89,600 | $44.78 |
| West Virginia | $82,100 | $41.04 |
| Wisconsin | $81,500 | $40.73 |
| Wyoming | $79,400 | $39.68 |
Job Security of Treasurers
Treasurers have pretty decent job security since they are true financial experts and can provide lots of value to the company they work for.
Thus, they don’t have to worry about losing their jobs since even in case they do, chances are that they will find a new job pretty soon.
Future Outlook of Treasurers
Not only current job prospects are excellent, but also future job prospects are pretty good for treasurers since they will be in high demand and good treasurers will be needed in almost every company out there.
Consequently, treasurers don’t have to worry about getting unemployed anytime soon.
Working Hours of Treasurers
Treasurers usually start their workday between 7 and 9 a.m. and finish their workday between 4 and 6 p.m.
Hence, they work in a classical 9 to 5 environment and even though they might have to work longer during busy times, treasurers often come home from work relatively early compared to investment bankers or other people who have to work long hours every day.
Job Satisfaction of Treasurers
Most treasurers are pretty happy with what they are doing for a living since they can make pretty good money and have pretty decent job security while they still don’t have to work much overtime and therefore have enough time to spend with their favorite people.
Promotion Opportunities of Treasurers
Treasurers have pretty decent promotion opportunities.
Since they are true financial experts, they can get promoted pretty soon and many treasurers end up in management positions or even on the board of directors sooner or later.
Career Levels of Treasurers
- Treasurer intern
- Junior treasurer
- Senior treasurer
- Senior treasurer with personnel and/or budget responsibilities
- Senior treasurer leading a big team of treasurers
- Manager of the whole treasury department
- Chief financial officer (CFO)
Fields and Types of Treasurers
- Treasurer focused on ensuring proper money flows
- Treasurer specialized in optimizing the mix of equity and debt
- Treasurer optimizing money flows for individual projects
- Treasurer with expertise in legal requirements and regulations related to treasury
- Treasurer working in the treasury department of production companies
- Treasurer working in the financial industry
- Treasurer specialized in arbitrage opportunities
- Treasurer focused on the preparation of financial reports
- Treasurer focused on opportunities arising from low-interest environments
Educational Requirements for Treasurers
Treasurers often need at least a bachelor’s degree in business, economics, finance or a related field to be able to work in this industry.
Even better would be a master’s degree with emphasis on data analysis and other mathematically-heavy stuff to provide lots of value to companies so that you can make really good money and have a safe job for many years to come.
How to become a Treasurer
- Inform yourself about the advantages and disadvantages of being a treasurer
- Finish high school with decent grades
- Enroll in your favorite treasury-related degrees and start college education
- Apply for an internship in the treasury departments of local companies
- Make a good impression and work hard during your internship
- Stay in touch with your treasury colleagues
- Finish your degree with decent grades
- Apply for treasury jobs in your region
- Master the job interview
- Sign your labor contract
- Become a real expert in your field
Character Traits you need as a Treasurer
- You should be passionate about working with numbers
- Patience helps you solve complex problems
- Persistence helps you keep your job in the long run
- Empathy for colleagues who have a bad day
- You should be confident enough to present your results in a proper manner
- You should be open and outgoing since you have to communicate to many different stakeholders
- You should not get discouraged by negative feedback
- Ability to deal with high workloads in a healthy manner
- Ability to stay calm under pressure
Treasurer Skills
Hard Skills for Treasurers
- Excellent math skills
- Talent for working with numbers
- Strong analytical skills
- Good problem-solving skills
- Knowledge of how to use mathematical and statistical models
- Digital skills help as well
- You should be a good strategic thinker
- You should be able to spot long-term problems
- Accounting skills help as well
- You should know a lot about how money flows inside a company work
- You should be good at assessing liquidity needs of the company you work for
Soft Skills for Treasurers
- You should be open and outgoing
- Good time management skills help you get things done
- Good communication skills help you present your results
- Empathy for workmates who have a bad day
- You should be good at dealing with pressure
- Attention to detail helps you avoid serious mistakes
- Good people skills help you lead a team
- Patience helps you deal with snarky comments in an emotionally healthy manner
- Organizational skills help as well as a treasurer
Exit Options for Treasurers
Treasurers have pretty decent exit options.
Since they are true financial experts, treasurers can often also work as risk managers, auditors, financial controllers and in many other finance-related positions.
Treasurer – Similar Careers
- Financial controller
- Accountant
- Auditor
- Risk manager
- Compliance officer
- Financial analyst
- Researcher
- Consultant
- Investment banker
Treasurer Career FAQs
Is working as a treasurer physically demanding?
Being a treasurer is not physically demanding since you will just work in a classical office environment and while construction workers or welders often have to lift heavy stuff and work in a hard physical manner all day long, you as a treasurer will have a pretty relaxed time at work in this regard.
Is working as a treasurer mentally demanding?
Working as a treasurer can be mentally demanding since you will work with complex financial models all day long and have to really stress your brain to feed those models in a proper manner so that you can get valid conclusions from them in the long run.
Is it dangerous to work as a treasurer?
Being a treasurer is not dangerous at all since you will work in a pretty safe office environment and your risk of suffering from serious accidents at work will be rather low compared to police officers and other people who risk their lives on a daily basis.
How long do treasurers stay in their jobs?
Treasurers stay in their jobs for quite a long time since most of them are pretty happy with overall working conditions and salaries and their incentives to switch fields are pretty low.
Is it easy for treasurers to find a new job?
Since treasurers are in high demand right now, it is pretty easy for them to find a new job.
Thus, you don’t have to worry about getting unemployed as a treasurer since you will have good chances of finding a new job pretty soon.
Is it hard to switch from being a treasurer to another field of work?
Since treasurers are true financial experts, they can also work in many other finance-related industries.
In fact, many treasurers also work as financial analysts, consultants, compliance officers, financial controllers or also in the risk department of corporations.
Do treasurers have a high social status?
Treasurers have a pretty decent social standing.
However, you will still not be admired as a treasurer as much as nurse practitioners or other people who can save and improve the lives of many patients on a daily basis.
Can you help out your family and friends as a treasurer?
While you will become a real financial expert and will be able to advise your loved ones in this regard, you will still lack lots of practical knowledge when it comes to fixing things around the home.
Roofers and plumbers will have a huge edge in this regard and will therefore be able to provide more value to their family and friends in real-life situations.
Can treasurers work remotely?
Since treasurers do classical computer work, they are able to work remotely and don’t have to show up in the office for most of their workdays.
Thus, treasurers don’t have to spend lots of time and money commuting to work and back and will also have an easier time managing their professional and private life at the same time.
For instance, you can do your laundry between two meetings while many other people like taxi drivers who have to be present at work in person will not have those opportunities and you can therefore use your time much more efficiently.
Is it easy to find a partner as a treasurer?
Since treasurers can make decent money and also have enough time to spend with their loved ones, they are considered really good providers and therefore also have an easy time in the dating market when it comes to finding a partner for a long-term relationship.
Do treasurers have to work on weekends?
Treasurers don’t have to work on weekends.
While waiters and train drivers have to work, you can spend lots of time with your loved ones and also make nice weekend trips.
Do treasurers have to work on holidays?
Treasurers don’t have to work on holidays and can rather use those days to spend on their favorite hobbies or just to relax in their garden.
Do treasurers have to work at nighttime?
Treasurers have a rather standard workweek and often just work in a 9 to 5 environment.
Consequently, many treasurers come home from work relatively early and have enough time to spend with their family or on the hobbies they like.
Do you have to travel as a treasurer?
While junior treasurers will not have to travel for their jobs that much, senior treasurers will be away for business trips for some days of the year and you should be fine with not being able to spend those days with your family before deciding on becoming a treasurer.
Are treasurer pensions good?
Treasurers receive pretty decent pensions since they are able to save and invest enough money during their active careers thanks to the good money they make from their treasury jobs.
Consequently, treasurers are often able to afford a pretty decent lifestyle once they get older and retire.
Are treasurer salaries going up?
Treasurer salaries have been going up significantly over the past years since they are in high demand and true financial experts are needed in many different departments and industries.
Thus, treasurers can make decent money right now and will also be able to make good money in the future.
Can you have a positive impact on society as a treasurer?
While treasurers are important for optimizing money flows within a corporation, you will not have a big positive social impact since you will mainly focus on the gains of the company you work for instead of doing something that benefits the general public.
How long does it take to become a treasurer?
Since you will have to get a fancy degree, you will have to spend many years in college before you are able to work as a treasurer.
Not only will this education be pretty time-consuming, but you will also have to spend lots of money on education and you should therefore make sure that you want to work in the financial industry for quite a long time to make it worth the initial investment.
Is it difficult to become a treasurer?
Since you will have to spend many years on education and also have to enroll in demanding courses, becoming a treasurer is not easy and you should have a certain talent for math and for working with numbers in general to become and stay happy with what you are doing in the long run.
Do you need to be smart to work as a treasurer?
You don’t need to be a genius for succeeding as a treasurer.
However, you should still have an above-average IQ so that you are able to do your work in a proper manner and that you are able to pass all the exams you need to work in this field.
Do treasurers have a good work-life balance?
Treasurers have pretty decent work-life balance since they don’t have to work on weekends and holidays and also come home from work relatively early most of the time while they can still make good money at the same time.
Do treasurers have to work many extra hours?
While treasurers may have to work some extra hours during busy times of the year, you will have a rather relaxed time in this regard for most of the year and will be able to quit your workday relatively early.
How to maximize your chances of becoming a treasurer?
The more time you spend on your studies and the more experience you get in the financial industry from a rather young age, the higher your chances of finding a job as a treasurer.
Thus, to maximize your chances of becoming a treasurer, you should work as an intern in the treasury department of local companies so that you can make important contacts and already have a foot in the door once you finish your degree and apply for jobs.
Can treasurers work part-time?
Treasurers are able to work part-time in theory.
However, if you aspire to a fancy career and also want to make really good money from your treasury career, you should not work part-time but rather put full-time effort into your career to get the most out of it in the long run.
Do treasurers work indoors or outdoors?
Treasurers work indoors for their entire workday and don’t have to worry about adverse climatic conditions outdoors as garbage collectors and facility managers often have to do on a regular basis.
What does the workplace of a treasurer look like?
Treasurers work in a classical office environment and will do most of their work with a computer.
Apart from working with complex financial models, treasurers also have to communicate with people from many different departments to get all the information they need to feed their models and also have to present their results to senior management.
Thus, apart from being good with numbers, you should also be a great communicator if you want to climb the corporate ladder as a treasurer.
Do you have to look good for working as a treasurer?
You don’t need to look good as a treasurer.
However, you should still look groomed and professional so that your colleagues trust your judgement and will be happy to rely on your results and your advice in the long run.
Is a treasurer career beneficial for your private life?
Since treasurers can make good money while they still have pretty decent work-life balance and often come home from work early, treasurers have a relatively easy time managing their private and professional life at the same time and working as a treasurer can therefore be pretty beneficial for your private life since you will have enough time to spend with your loved ones while you can also afford some nice things for them.
Do you need a college degree for becoming a treasurer?
You need a college degree in finance, business, economics, statistics or a related field if you want to work in the treasury department of big companies and this means that you will have to spend many years in college before you are finally able to make decent money from what you are doing while butchers and other people who don’t have to get college education can start making money from a rather young age.
Do you need to be certified to work as a treasurer?
You don’t need to get any certifications apart from your college education, even though those certificates may help you increase your credibility and your job opportunities in the long run.
How much does it cost to become a treasurer?
Since you have to spend many years in college, you also have to spend lots of money on tuition and other expenses related to college education before you can make good money by working as a treasurer.
Is being a treasurer a good career?
Working as a treasurer can be considered a pretty decent career since you can make good money from what you are doing while you will still have enough leisure to spend with your favorite people or on your hobbies.
Is it easy to start your own business as a treasurer?
It is pretty hard to start your own business as a treasurer.
Even though you might be able to start a career as self-employed financial consultant, you would still need many years to build a strong reputation in this competitive industry and only very few people make it in the long run.
Can treasurers teach themselves?
Treasurers can teach themselves many things they need to work in this field.
However, they still need to get lots of formal college education and have to pass many exams before they are finally able to work as treasurers in an official manner.
Do treasurers make good money?
Treasurers can make pretty decent money from what they are doing.
In fact, senior treasurers often make a six-figure income and if you are really good at what you are doing and also willing to work hard, you may be able to climb the corporate ladder rather quickly as a treasurer.
Is it ever too late to become a treasurer?
While it is never too late to become a treasurer, you still have to spend many years on education before you are able to work in this field and it therefore makes sense to start your treasury career at a rather young age to make it worth the initial investment in terms of time and money.
Do treasurers have to quit their careers early?
Since treasurers don’t have to work in a hard physical manner, they are also not at great risk of suffering from serious health problems related to their work and while many other people like carpenters often have to quit their careers early due to back pain or other health problems, treasurers are often able to work in their jobs until they reach official retirement age.
What is the hardest thing about working as a treasurer?
The hardest part about being a treasurer is that you have to work with complex financial models on a daily basis and also have to communicate your results to important stakeholders which can really be mentally and emotionally demanding in the long run.
Can you provide for your family by working as a treasurer?
Since treasurers can make good money, most of them have a rather easy time providing for their families.
While treasurers can make good money, their spouses can stay at home and look after the kids so that they get everything they need to grow up in a healthy manner and don’t get neglected.
Will treasurers suffer from old-age poverty?
Since treasurers can make good money during their active careers, they can also save and invest enough money for retirement and often don’t get into financial trouble once they get older and quit their jobs at retirement age.
Can treasurers retire early?
Even though treasurers are able to make decent money from what they are doing, many treasurers are still not able to retire early and have to work until they reach retirement age to be on the safe side from a financial point of view.
Do treasurers get a fixed or variable salary?
Treasurers mostly get a fixed salary.
However, the more senior you get, the higher your variable fraction since your bonus will become a significant part of your income.
Can you get rich as a treasurer?
While treasurers can make good money, most treasurers are still not able to get rich and if you want to make really good money, you should rather become a dentist instead of a treasurer.
Do treasurers need a second job?
Most treasurers don’t need a second job since they make enough from their treasurer career and are easily able to cover their expenses.
Do you get training as a treasurer?
You get continuous training as a treasurer so that you can stay up-to-date with latest technological advancements and are able to control money flows inside your company in the most efficient manner.
Do you get sick pay as a treasurer?
Most treasurers are eligible for sick pay.
However, whether you get sick pay or not also greatly depends on your region and on the company you work for.
Do treasurers have a high level of responsibility?
While mistakes of treasurers may lead to serious financial damage, they still don’t have the same high level of responsibility as pharmacists or psychologists whose mistakes might lead to serious personal damage.
Can treasurers work abroad?
Treasurers can work all over the world.
However, working conditions and salaries will be quite different in foreign countries compared to what you are used to at home and you should therefore not move abroad before you have informed yourself carefully in this regard to avoid any unpleasant surprises.
Is it stressful to work as a treasurer?
Working as a treasurer can be stressful since you will do important work with complex models and if you get things wrong, you may cause serious financial problems for the company you work for.
Is it boring to work as a treasurer?
Working as a treasurer may become boring if you are not really interested in working with numbers and you may also not find your purpose in what you are doing in the long run since results are pretty intangible and your work may just feel like a waste of time to you.
Is being a treasurer hard?
While working as a treasurer is not hard from a physical point of view, it can still be hard on a mental level since you will work with complex financial models and have to stress your brain quite a lot to get things done in a proper manner.
Are treasurers at risk of burnout?
Since working as a treasurer can be stressful, many treasurers are also at significant risk of burnout and other mental problems since they are not able to withstand the pressure in an emotionally healthy manner in the long run.
Is there a dress code for treasurers?
Treasurers don’t have to comply with a certain dress code.
However, since you will work in a classical office environment, chances are that you will be supposed to wear pretty conservative clothing like suits or conservative dresses.
What kind of treasurers are paid the most?
The more experience you get as a treasurer and the more budget and personnel responsibilities you get, the higher your salary as a treasurer will be.
What percentage of treasurers are women?
While only 27% of all treasurers are women, a whopping 73% are men.
Thus, this industry is still dominated by men since more men want to work with numbers than women and this trend will likely continue in the future.
Do I need a mentor to succeed as a treasurer?
You don’t necessarily need a mentor to succeed as a treasurer.
However, it can still help having an experienced colleague on your side who can support you during difficult periods of your career.
Do treasurers have a high life expectancy?
Treasurers have pretty decent life expectancy since they work in a pretty safe environment and are not at great risk of suffering from serious accidents at work.
Do treasurers suffer from sleeping problems?
Most treasurers don’t suffer from sleeping problems since they don’t have to work at nighttime and are therefore able to maintain a healthy sleeping pattern.
What states are best for working as a treasurer?
The best states for working as a treasurer are New York and California since many big corporations that pay really good salaries for treasurers are located there.
Who do treasurers work with?
Treasurers have to work with many different departments to get all the data they need to optimize money flows within their organization.
Thus, it is important that you have good people skills so that you are able to communicate well with all relevant stakeholders.
Is working as a treasurer cool?
Being a treasurer is considered fairly cool by the general public.
However, you should still not choose your career according to what’s cool but rather take your own personal preferences into account.
Can you start a side hustle as a treasurer?
Since treasurers are true financial experts, they can also start side hustles as financial consultants and can make decent money on the side in the long run.
Do you have to be creative as a treasurer?
You don’t need to be overly creative as a treasurer.
What’s much more important is that you have strong analytical skills and that you also have a talent for working with numbers.
Do treasurers suffer from being overweight?
Since treasurers don’t work in a hard physical manner, they often don’t burn enough calories at work and are at great risk of suffering from being overweight or even obese in the long run.
How employable are treasurers?
Treasurers are in high demand right now since they are able to provide lots of value to many companies out there and they don’t have to worry about getting unemployed anytime soon.
Are treasurers happy with their jobs?
Most treasurers are pretty happy with their jobs since they can make good money while they still have pretty high job security and also enough time to spend with their families.
Is working as a treasurer exciting?
Working as a treasurer is not that exciting since you work in a classical office job and will do many things over and over again.
Can you have a positive impact on our environment as a treasurer?
Since you will mainly focus on optimizing money flows within the company you work for, you will not have a big positive impact on our environment as a treasurer.
What are the pros and cons of working as a treasurer?
If you are still interested in becoming a treasurer, you should also have a look at additional pros and cons of a treasurer career.
Sources
https://www.sifma.org/resources/research/fact-book/
Interviews and own research.
About the author
My name is Andreas and my mission is to educate people about the different career paths that are possible in our current state of the world. In my opinion, people often make the mistake to choose their profession solely based on how much money they can earn from it instead of doing what makes them really happy.
This is quite sad and I just want to give people a more objective picture of how a fulfilling career could look like. I did the same when I started working in consulting after finishing my Master’s degree in Economics. However, I’ve quit pretty soon after that since I haven’t found true meaning in my job.
Now I can do what I really love to do and I want to enable as many other people as well to go this exciting path towards happiness instead of money.
I conducted various interviews with employees to give you a good impression of what working in different fields will look like and that you can make the best possible decision regarding your future career choice.
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