As the role of finance business partners continues to evolve, so too does the financial compensation they receive. With the increasing adoption of automation and data analytics in finance departments, many organizations are looking to restructure their finance teams and redefine the role of finance business partners. As a result, it is imperative for finance professionals to stay informed about the latest trends in finance business partner salaries. In this article, we will discuss some of the key trends that are shaping the future of finance business partner salaries and what professionals can do to stay ahead of the curve.
The Future of Finance Business Partner Salaries: Trends to Watch
As the finance industry continues to evolve, the role of finance business partners (FBPs) is becoming increasingly important. FBPs work closely with business leaders to provide financial insights and help make strategic decisions. With the rise of technology and data analytics, FBPs need to have a broad range of skills to keep up with the changing landscape. In this article, we will explore the trends that are shaping the future of finance business partner salaries.
Trend 1: Increased Demand for FBPs
As companies recognize the value of FBPs, the demand for these professionals is on the rise. In fact, a recent survey by Robert Half found that 89% of CFOs plan to expand their finance teams, with FBPs being a top priority. This increased demand is likely to lead to higher salaries for FBPs, as companies compete for the best talent.
Trend 2: Focus on Data Analytics
Data analytics is becoming increasingly important in the finance industry, and FBPs need to be able to analyze and interpret data to provide insights to business leaders. As a result, FBPs who have strong data analytics skills are likely to be in high demand and command higher salaries.
Trend 3: Emphasis on Soft Skills
While technical skills are important, FBPs also need to have strong soft skills, such as communication, leadership, and collaboration. As FBPs work closely with business leaders, they need to be able to effectively communicate financial information and collaborate on strategic decisions. FBPs with strong soft skills are likely to be highly valued and compensated accordingly.
Trend 4: Remote Work
The COVID-19 pandemic has accelerated the trend towards remote work, and many companies are now offering flexible work arrangements. This has enabled companies to tap into a wider talent pool and has given FBPs more flexibility in terms of where they work. As a result, FBPs who can work remotely are likely to have more negotiating power when it comes to salaries.
As the role of FBPs continues to evolve, so too will salaries. The trends discussed in this article suggest that FBPs with strong data analytics skills, soft skills, and the ability to work remotely are likely to command higher salaries in the future. Companies that recognize the value of FBPs and are willing to invest in their employees are likely to attract and retain top talent in this field.
-Trend 1: Increased Demand for FBPs
-Trend 2: Focus on Data Analytics
-Trend 3: Emphasis on Soft Skills
-Trend 4: Remote Work