If a career in the financial industry appeals to you, consider becoming a treasurer. This article will explain what a treasurer does, what it takes to get a job in this field and the average pay rates. We also feature resume resources, including our professional Resume Builder and resume samples, to show you precisely what a job-winning resume looks like.
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What Does a Treasurer Do?
A treasurer has general oversight over an organization’s finances, ensuring that financial management is done correctly by delegating tasks to other staff members. Their responsibilities may include financial planning and budgeting, financial reporting, sales and fundraising.
They typically work in startups, small and large firms, nonprofit groups and the government sector.
Treasury management is a rewarding, exciting and varied career that helps shape the future of an organization’s financial strategy.
Everyday treasurer responsibilities include:
Management tasks, such as supervising staff and delegating projects.
Organizational duties include managing the firm’s cash flow and liquidity and setting up bookkeeping systems.
Fundraising tasks, such as raising funds for nonprofits or raising money for new business ventures.
Managing the company’s investments, surplus cash and borrowing requirements.
Identifying, assessing and managing financial risks.
How to Become a Treasurer
The Bureau of Labor Statistics forecasts a 17% growth in demand for financial managers, such as treasurer, with 71,300 new job openings available through 2031. Their net worth can be more than $131,710 annually. The demand is fueled by economic growth, which requires the services of financial managers. Let’s break down the steps of how to become a treasurer.
Earn a bachelor’s degree:
While there is no specific degree in treasury, most entry-level positions require a bachelor’s degree in economics, accounting, finance, economics or business administration.
Licensing and certification:
Certain colleges and universities participate in the Corporate Treasury Management (CTM) program, which teaches treasury skills to students. Completing this program allows you to take the Certified Treasury Professional (CTP) exam. Ultimately you can also optimize your career with these top certifications that you can take online or onsite.
- Certified Treasury Professional by the Association for Financial Professionals.
- The CAPA (Certified Accounts Payable Associate) and CAPP (Certified Accounts Payable Professional) provided by the Institute of Financial Operations.
- Chartered Financial Analyst (CFA) offered by the CFA Institute.
- Certified in the Valuation of Financial Instruments (CVFI) awarded by the American Institute of Certified Public Accountants (AICPA)
Professional organizations to jumpstart your career:
An apprenticeship is the best way to jumpstart your career and gain substantive experience. It gives you hands-on experience and the opportunity to train while you work. You will also build professional relationships and networks.
For instance, the U.S. Department of the Treasury offers students internship programs. Additional internship opportunities will be announced on USAJobs. Here are a few good apprenticeship opportunities for treasurers:
- Active Apprenticeship Programs within Federal Agencies sponsored by the Apprenticeship USA.
- Accountancy Professional Apprenticeship provided by CIPFA.
- Financial Services Apprenticeship program offered by JP Morgan Careers
Create a job-winning resume:
Pairing a professional resume and cover letter is the best strategy to impress hiring managers. To create an industry-specific resume, try our resume samples and cover letter samples to gain insight into how other professionals market their skills and experience.
A treasurer must have the technical ability to oversee a company’s financial matters and have a vision and skills to create or improve its corporate strategy and promote its growth. Someone excelling in this role must be motivated, good at solving problems, communicative and authoritative. Because these individuals would be in charge of a firm’s finances, they must be trustworthy, ethical and have integrity.
Treasurer hard skills:
Treasurer soft skills:
Insights from a Treasurer
Here's a more in-depth perspective as to what the Treasurer job really entails. So here are some questions and answers from professionals in the industry to help you.
What is the common career path for a Treasurer?
A treasury position requires a bachelor's degree by default. Generally, you will not find any specific degree in financial management but many of the other degrees related like finance, accounting, economics or business administration can help you have a broader spectrum to understand the ins and outs and to have a better chance at success in a career in treasury.
What should someone consider before becoming a Treasurer?
Being a Treasurer can demand a lot of your time. Consider how this will affect your personal life and family. If the company doesn't feel comfortable with your management and social skills, you may run into a professional dead end. Be wary of that if you intend to continue growing.
What type of person excels in this job?
A good treasurer can think about numbers methodologically, also has an orderly mindset and has an eye for details. It is very important to look at data and double-check it whenever you can to identify inconsistencies and things you can do to resolve them.
What are some of the most important skills for Treasurers have?
Methodical, impartial and honest people are candidates to be great Treasurers. A good treasurer must have good communication skills, must be detail-oriented and must have the ability to handle large sums of money.
What do you find to be the most rewarding aspect of being a Treasurer?
Having a positive impact on the organization you work for, the empowering feeling of working with large sums of money and having success with it feels accomplishing and satisfying.
How Much Do Treasurers Get Paid?
The average yearly salary for Financial Managers, such as Treasurers, is $118,000. The highest paid make $187,200, and the lowest paid earn $63,000.
Top 10 States for a Treasurer’s Salary
Financial Managers, including Treasures, in the following states make the highest median salary in the US.
For more information about becoming or working as a Treasurer, check out these sources.
On the Web
National Association of Corporate Treasurers (NACP)
A resource for Treasurers about upcoming conferences, job listings and networking opportunities.
Association of Financial Professionals (AFP)
A professional society that represents finance executives globally.
Twitter account of California State Treasurer John Chiang.
Twitter account of the U.S. Treasury Department.
A blog by the Association of Corporate Treasurers.
Blog for industry professionals to discuss emerging trends and insights impacting the treasury community today.