Increasingly, businesses are investing in plant controllers in order to manage their financial assets. Indeed, plant controllers have become an invaluable asset in helping organizations run efficiently and effectively. As demand for these professionals has grown, so too has the salary connected to this kind of position. Generally, a plant controller is responsible for tracking and managing financial information and assets related to a manufacturing plant. Their job duties typically include formulating financial plans, monitoring the production process for efficiency, and verifying the accuracy of financial statements.
In the United States, the average annual salary for a plant controller is approximately $110,000-$120,000. The actual salary rate will depend on factors such as experience, professional certifications, and company size. Generally, those with higher qualifications and more substantial experience will be able to command higher salaries. Additionally, larger organizations often pay more than smaller enterprises.
Professionals in this field can also benefit from a number of fringe benefits such as a 401(k) plan, medical insurance, and paid vacations. If a plant controller has demonstrated exceptional performance, they may also be eligible for bonuses and commission. Additionally, many employers will provide continuing education opportunities to ensure that plant controllers remain up-to-date on the latest trends and techniques.
Plant controllers are integral to any manufacturing organization and they are well-compensated. Those considering a career in this field may find that the salary expectations and fringe benefits are attractive incentives. For organizations looking to enhance their production process, investing in a knowledgeable and skilled plant controller is a great investment.
Plant Controller Salary
A Plant Controller is responsible for managing and orchestrating the financial activities of a plant. Their duties range from financial analysis and cost accounting to developing financial forecasting and budgeting.
Salary
A Plant Controller’s salary is usually between $70,000 to $100,000 per year. This can vary depending on the size of the organization, years of experience, education level and certifications held by the Plant Controller.
Job Duties
The duties of a Plant Controller include but are not limited to:
- Analyzing information related to plant operations and financial performance
- Developing, maintaining and updating financial models
- Monitoring plant budgeting and forecasting processes
- Calculating, managing and reporting plant costs
- Generating reports related to the financial performance of the plant
- Conducting cost analysis to identify opportunities for operational and cost improvements
Qualifications and Skills
Most Plant Controller positions require a four-year degree in business, finance or accounting. Some employers may also require or prefer certifications like the Certified Public Accountant (CPA) or Certified Management Accountant (CMA).
In addition to having the proper qualifications, Plant Controllers must possess certain skills, including:
- Strong analytical and decision-making skills
- Excellent communication skills
- Advanced knowledge in accounting and finance
- Ability to work independently as well as in a team
- Highly organized with an ability to multitask
A Plant Controller can expect to be well compensated for the important work they do. Their salary usually ranges from $70,000 to $100,000 per year depending on their qualifications and experience. In addition to their salary, Plant Controllers can expect to receive bonuses, health insurance and other benefits.
Plant Controller Salary
A plant controller is responsible for overseeing the financial management of a manufacturing facility. They maintain financial records, direct and coordinate financial activities, and monitor financial systems. Plant controllers play a major role in the efficiency and profitability of the organization and are highly compensated for their expertise and hard work.
Salary Ranges
Depending on the company and region of the country, the salary for a plant controller can vary dramatically. On average, plant controllers make a base salary of between $75,000 and $95,000. However, some highly experienced and certified plant controllers can earn a base salary of over $100,000.
Factors Influencing Salaries
Certain factors can influence a plant controller’s salary. These include:
- Experience – The more experience a plant controller has, the higher their salary will be.
- Education Level – Plant controllers who hold a master’s degree or higher will likely earn a higher salary.
- Certification – Plant controllers who are certified in financial management or accounting will receive a higher salary than their un-certified counterparts.
- Location – Plant controllers living in areas with a higher cost of living or higher salaries overall will earn more.
Other Benefits
In addition to a generous base salary, plant controllers also typically receive other benefits such as health insurance, retirement plans, and performance bonuses.
In conclusion, the salary of a plant controller is highly dependent on their experience, education level, certification, and location. Plant controllers are well-compensated for the important role they play in the success of the organization and can also receive attractive benefits. Plant controller salaries vary depending on the size of the company and the industry the company is in. The U.S. Bureau of Labor Statistics (BLS) classifies Plant Controllers as a type of Financial Manager and reports their salaries as an average annual wage of $121,750 nationwide in 2020. This is higher than the average salary for all occupations in the United States.
The mean salary for a Plant Controller can range from approximately $80,000 – $150,000, depending on experience, exact job title, number of years in the position, and the geographic location of the position. Large companies typically pay higher salaries than smaller ones. Highly-paid Plant Controllers might earn additional bonus incentives.
A Plant Controller usually reports to the Chief Financial Officer (CFO) and is responsible for cost accounting and inventory control. They are also responsible for developing budgets, preparing financial reports, analyzing and interpreting financial data, assessing financial risk, and providing financial advisement and control. Plant Controllers must be knowledgeable of financial regulations, company policies, Generally Accepted Accounting Principles (GAAP), and have expert financial analytic skills.
To become a Plant Controller, a candidate usually needs a college degree in finance, accounting, economics, or related field, with several years of cost accounting, financial analysis, and inventory control experience. They should possess strong interpersonal skills, be able to communicate clearly with team members and superiors, and have the ability to work independently and efficiently.
The demand for Plant Controllers is expected to increase in the future, but those interested in the position can expect to face stiff competition, as the number of applicants for this type of position has increased. The potential salary, along with the potential for career advancement, are attractive incentives for those interested in becoming a Plant Controller.
