(Note: Please note that salaries can differ significantly based on industry, experience, and company policies. The above figures are based on estimates taken from Glassdoor).
Internal controls Manager & Analyst salary bandings are consistently competitive across most of the EU’s major financial regions. Much like a Treasurer there are variances to be expected when factoring in the company size of any given employer. However, considering the high degree of diligence and financial knowledge required to excel in this role, plus the relative shortage of talented internal controllers available, you will find that wage parity across markets is balanced by upward-facing wage competitiveness in such a vital role.
Most European countries pay between €45,000 and €80,000 per annum as a base rate of pay for internal controls managers and analysts. This will trend towards the higher end of the pay brackets for established enterprises and larger, public facing companies, especially ones that have frequent, public contact with advisory firms.
Although the pay bandings won’t necessarily correlate to the depth of, or specificity of, the internal controls measures built or maintained within any given enterprise, there are industry “standards” and auditing rules and regulations, legal commitments and anti-fraud systems that quite obviously need to be followed and adhered to.
Any additional controls that need to be included in any fiscal reporting or management are then where pay variances and talent variances come into play. In this regard, you can be expected to pay more for internal controllers within public service and banking, for example, where public audit trails and investor stakeholder management is part of the day to day and where anti-fraud systems are vital defences against the mismanagement of public funds and billions of euros of investments.
Beyond Internal Controls
Internal controls specialists are highly regarded audit-managers and diligent operators, and their skills are in high demand.
Progression from internal controls is, much like the role itself, varied: the focus on diligence, financial philosophies, anti-fraud and financial protection means a talented internal controller can expect doors to open within the auditing, security or investment sectors. Aside from this, natural progression to CFO or senior financial management is also an option, however more strategic and business management experience may be required to bolster credentials.
Learn more about internal controls manager and analyst careers.
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