Cash Management Career

Career Description:

In any business operation, cash management is a very crucial and important part.  Cash management determines whether the business will become successful or not.  Cash management tasks are headed and managed by a cash manager.  The cash manager takes on the responsibility of managing and monitoring the cash flow or the movement of cash of an organization.  He makes sure that probable risks and losses are monitored and controlled.

The cash manager secures the financial information, prepares financial reports, handles financial transactions, manages cash management activities and develops financial strategies. The cash manager is to hire, train and evaluate staff. It is a must that a cash manager be armed with the skills to lead, organize, analyze, and communicate.  Handling a team and dealing with different types of people requires one to have excellent interpersonal skills.

How to become a Cash Manager

The aspiring cash manager must ready himself in this career by earning a bachelor’s degree in business, accounting, finance or other business-related field.  One must pursue higher studies and earn a master’s degree or an MBA.  Gain practical experience through internships or part-time jobs.   On-the-job training is provided for by the employer to help an individual get ready with the career of a cash manager.  As a cash manager, one must take continuing education courses and trainings to be updated with the new business trends.

Cash Management Courses, training, programs

A master’s degree in business prepares one in a career in cash management.  A student is given background in various areas such as management, organizational behavior, management accounting, managerial economics, statistical methods, quantitative methods, business law, financial management, marketing management, human resource management, operations management, logistics management, environmental management, information technology and systems, and communication.

TOP 5 colleges/Universities

Stanford University, California

Harvard University, Massachusetts

Massachusetts Institute of Technology-Sloan, Massachusetts

University of Pennsylvania-Wharton, Pennsylvania

Northwestern University-Kellogg, Illinois

Cash Management Jobs, opportunities, salaries/pay

A cash manager has the opportunity to earn from $60,396 to $107,205 per year depending on one’s employer, location and experience. Employment may be secured in various industries whether it is a private and public organization.

Category: Management Careers

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