Finance

In retail, the finance teams are more than just bean counters. They plan and secure the strategic and financial future of the business. They monitor each store’s performance, allocate the resources, look at risk, evaluate financial risk and work with the links in the chain to develop product range and pricing.

Managing the money correctly is vital to a retailer’s success. If finance is your thing the retail industry is the place to be.

This department analyses business performance and makes sure the company stays on track and on budget. However, there is a lot more to working in the finance team than just number crunching at the end of the tax year.

Accountants and finance professionals are also responsible for planning and securing the strategic and financial future of the business. This is done through monitoring store performance, annual and monthly trade and cost reviews, forecasting, risk analysis and working with other departments to develop product ranges and pricing.

To work in retail finance you need to be able to show excellent attention to detail,organisational ability, project management and numerical and problem-solving skills. If you can cut the mustard at this level, responsibility can come quickly and you will be well rewarded financially.

Some retailers offer finance training schemes and with some you may need to apply externally for a specific role. As well as in-house training you can get professional qualifications such as ACCA or CIMA. For entry, maths, business,economics and finance degrees are accepted.

What can I earn?

Finance managers can earn between £25,000 and £40,000 a year. More senior financial directors in large organisations can earn well in excess of £80,000 per year.