Comptrollers are high-level managers who oversee accounting and finance departments. They typically report to the chief financial officer. Show
Usually working in public agencies, comptrollers often oversee and investigate government institutions' finances. Some comptrollers, however, perform the same duties in nonprofit organizations or corporations.
According to PayScale, the average annual pay for a comptroller is $71,553 as of September 2020. Comptrollers develop, analyze, and publish financial information. These professionals may a;sp conduct audits, lead financial investigations, and ensure regulatory compliance. The Bureau of Labor Statistics (BLS) projects that finance and business occupation will grow by 8% from 2020 and 2030. According to PayScale, the average annual pay for a comptroller is $71,553 as of September 2020. Comptrollers with financial management and budget analysis skills earn some of the highest salaries in the field. These professionals may advance to vice president of finance or chief executive officer positions. Crunch the Data: Skills | Expertise | FAQs What Is a Comptroller?Comptrollers are accounting and finance professionals who oversee the fiscal activity of public agencies, nonprofit organizations, or businesses. In a nonprofit or government agency, a comptroller often holds a role similar to a chief financial officer (CFO). In a large corporation, the comptroller position usually reports to the CFO and supervises the accounting and financial reporting tasks. Comptrollers need an array of knowledge and skills to do their work. Often, their duties include these five key job tasks:
Key Hard Skills for Comptrollers
Key Soft Skills for Comptrollers
Explore programs of your interests with the high-quality standards and flexibility you need to take your career to the next level. Comptroller Duties and Areas of ExpertiseAlthough comptrollers generally serve in public agencies, these professionals can specialize in a specific field or industry. Consider the following specialization opportunities for accounting professionals: Government AccountabilityThe Government Accountability Office (GAO) holds the U.S. federal government accountable for financial integrity and liability. GAO employees audit, investigate, and evaluate government spending. They also advise Congress on how to make the government more fiscally efficient and effective. Appointed by the president, the comptroller general directs the GAO. Accountants hoping to work in the GAO should first earn a bachelor's in accounting degree. Current students can serve as interns, and accounting graduates may apply for various positions in the agency. Employees can participate in GAO's executive candidate assessment and development program. Common Job Titles
Currency and BankingComptrollers and other public finance professionals can serve in the federal government as auditors and supervisors. The Department of the Treasury maintains an Office of the Comptroller of the Currency (OCC). The OCC chief is appointed by the U.S. president. This department's primary mission is to ensure the nation's banking system stays sound, competitive, and safe for investors and depositors. Those with a degree in accounting or related field may qualify for an analyst or examiner position with the department. Entry-level bank examiners need at least a bachelor's degree and relevant experience. Some hold a CPA certification. Common Job Titles
State or Local ComptrollerStates, counties, and cities employ comptrollers. In some cases, these professionals serve as elected officials. Others are appointed to their positions by the governor or state legislature. In all cases, the comptroller is the chief accountant and fiscal inspector for the area. These professionals provide audits and financial reports to taxpayers. Local and state comptroller offices hire accountants, auditors, investigators, lawyers, researchers, and legislative affairs professionals. Some offices offer internships along with opportunities for professional growth. Most positions in a state or local comptroller's office require a degree or certification in accounting or a related professional field. Common Job Titles
Military ComptrollerMilitary comptrollers can serve as fiscal officers for the U.S. Army, Navy, Air Force, Marines, or Coast Guard. They review and analyze military programs, including budgets, audits, reports, and cost analyses. Since defense financial management is a specialized field, most comptrollers will need relevant experience plus an accounting degree or certifications. Typically, accounting professionals will also take the certified defense financial manager (CDFM). Developed by the American Society of Military Comptrollers, the CDFM is similar to the CPA. It requires four test modules, covering the military resource management environment, accounting and finance, defense acquisition, and budget and cost analysis. Common Job Titles
How to Become a ComptrollerBecoming a comptroller starts with earning a bachelor's degree in accounting. A graduate degree in accounting or a related field may make applicants more competitive. Most employers require comptrollers to be certified public accountants, and some require chartered financial analysts or certified government financial managers. Comptrollers need knowledge and skills in investments, organizational finance, management, and operations. Aspiring comptrollers can gain experience by working for accounting firms or public agencies as an assistant to a comptroller, auditor, or financial investigator. Comptroller Salary and Career OutlookThe BLS projects that the business and financial industry will add 750,800 new jobs from 2020-2030. A growing economy coupled with an increasingly complex system of taxation and regulation drives much of this projected growth. As financial professionals, comptrollers can benefit from these trends.
The BLS projects that the business and financial industry will add 750,800 new jobs from 2020-2030. Currently, PayScale estimates the average salary for a comptroller at $71,550 as of September 2021. The primary factor determining a comptroller's salary is experience. Although professionals with financial reporting and financial analysis skills and certifications can also expect boosts in earnings. A skilled and experienced comptroller may go on to serve as a chief financial officer, vice president of finance, or chief executive officer. Questions About the Comptroller Job DescriptionA comptroller's job description includes managing an institutions' financial reporting and accounting tasks. Usually employed by a public agency, comptrollers assure the security and proper use of funds, oversee the controller's office, and manage all accounting and budgeting activity. Comptrollers generally — though not always — serve in public agencies. These professionals can specialize in government audits, military finance, or banking. Some comptroller's offices conduct investigations of banks or government organizations. Comptrollers work in executive-level financial positions overseeing a company, nonprofit organization, or public agency. They typically serve in state, local, or federal government positions and may hold jobs in locations throughout the country or world. A comptroller and a controller complete similar work, overseeing an organization's financial and accounting departments. Typically, a comptroller works in a public agency while a controller works in a private organization. However, this is not always the case. Reviewed by: |