A junior controller is an entry-level accounting and finance professional who typically works in the accounting department of a company or organization. The main responsibilities of a junior controller include assisting with general accounting duties, financial reporting, budgeting, forecasting, and financial analysis. Junior controllers are involved in various day-to-day accounting activities and provide support to the accounting department and senior management.
What are the typical duties of a junior controller?
The typical duties and responsibilities of a junior controller include:
- Assisting with monthly, quarterly and annual closings and account reconciliations
- Preparing journal entries and maintaining general ledgers
- Generating financial statements and management reports
- Providing analytical support for budgets, forecasts and cost analyses
- Ensuring compliance with GAAP (Generally Accepted Accounting Principles) and company policies
- Documenting accounting policies, procedures and controls
- Monitoring cash management and cash flow
- Performing account analyses to identify problems and irregularities
- Helping prepare audit schedules and providing support during external audits
- Assisting with tax planning, compliance and reporting
- Conducting special projects and ad hoc analyses as needed
While specific duties may vary by company and industry, the overall role encompasses routine accounting functions, financial reporting, and analytical support. Junior controllers are involved in the day-to-day maintenance of the accounting system and preparation of regular financial statements and reports.
What skills does a junior controller need?
To be successful as a junior controller, the following skills and qualifications are important:
- Accounting expertise: Solid knowledge of accounting principles and financial reporting standards is essential. This includes expertise in GAAP, budgeting, cost accounting, tax, auditing, etc.
- Analytical skills: Junior controllers need strong analytical skills to prepare reports, analyze financial data, and provide recommendations to management.
- Attention to detail: Controllers must be meticulous with a high degree of accuracy in preparing and reviewing financial information.
- Technology skills: Knowledge of accounting and enterprise resource planning software is required. Advanced Excel skills are highly desirable.
- Communication skills: Junior controllers must communicate financial results and insights effectively both verbally and in writing.
- Teamwork skills: Collaboration with managers, auditors, and other accounting staff is an important part of the job.
- Time management skills: Junior controllers must be able to prioritize tasks, meet deadlines, and work on multiple projects concurrently.
- Ethics: Controllers have access to sensitive information and must demonstrate integrity and professionalism.
Some employers may prefer candidates with relevant certifications such as a CPA license or Certified Management Accountant (CMA) certification.
What is the educational background required for junior controllers?
The typical educational requirement for a junior controller role is a bachelor’s degree in accounting, finance or a related business field. Some employers may accept candidates with an associate’s degree and accounting experience or coursework.
Common degree programs for aspiring junior controllers include:
- Bachelor of Science in Accounting
- Bachelor of Science in Finance
- Bachelor of Business Administration (BBA) with an Accounting major
- Associate of Applied Science (AAS) in Accounting
Coursework focuses on accounting, finance, financial reporting, managerial accounting, taxation, auditing, business law and economics. Internships are highly recommended to gain relevant experience.
What is the career path for a junior controller?
A junior controller position is an entry point into an accounting and finance career. It prepares candidates for advancement into senior roles. Here is a look at the typical career path:
- Junior Accountant: Early career accountants often gain initial experience as a staff accountant or junior accountant handling day-to-day accounting duties.
- Junior Controller: After 2-4 years, promotion to junior controller involves taking on higher level reporting and analysis roles.
- Senior Accountant: Some may progress to senior accountant roles with supervision of accounting clerks/bookkeepers.
- Senior Controller/Accounting Manager: After 4-6 years, advancement to senior controller or accounting manager is possible, involving financial leadership.
- Director/VP of Finance: Extensive experience can lead to upper management roles directing all accounting and financial operations.
Some junior controllers obtain additional certifications and education such as a Master of Business Administration (MBA) to reach senior leadership positions such as Chief Financial Officer (CFO).
What industries employ junior controllers?
Junior controllers have opportunities across various industries. Some top industries hiring junior controllers include:
- Manufacturing
- Technology
- Healthcare
- Financial services
- Retail and consumer products
- Energy and utilities
- Government
- Non-profit
- Education
Junior controllers work for all types and sizes of companies from major corporations to small businesses. Public accounting firms may also hire junior controllers in their audit and tax departments.
What is the job outlook for junior controllers?
The job outlook for junior controllers is very strong. According to the U.S. Bureau of Labor Statistics (BLS), employment of accountants and auditors is projected to grow 7% from 2020 to 2030, faster than the average for all occupations. Increased focus on accounting standards and regulations will drive demand for accounting expertise.
In particular, the role of controllers is expected to be in high demand across industries to manage finances and ensure regulatory compliance. Businesses are seeking to hire more controllers given rising financial risks. Employment growth combined with retirements is expected to create abundant job opportunities for junior controllers.
What is the average junior controller salary?
According to the BLS, the median annual salary for accountants and auditors in 2021 was $77,250. Junior controllers tend to be on the lower end of accounting pay scales given their entry-level status. Here are some junior controller salary averages:
- Entry level: $45,000 – $65,000
- Early career (1-4 years): $55,000 – $75,000
- Experienced (5-9 years): $65,000 – $85,000
Salaries can vary significantly based on:
- Location – Higher pay in large metro areas
- Industry – Highest pay in technology and finance
- Company size – Big corporations tend to pay more
- Certifications – CPA/CMA credentials boost pay
What are the pros and cons of being a junior controller?
Some of the key pros and cons associated with a junior controller career include:
Pros:
- Entry point for rewarding finance career path
- Opportunity to work across all areas of accounting
- Learn highly transferable and in-demand skills
- Can work in variety of industries and company types
- Stable corporate career with structured advancement
Cons:
- Can be stressful during reporting periods/audits
- Sometimes need to work more than 40 hour weeks
- Work can be repetitive at times
- Junior level pay is decent but lower than accountants with more experience
- Limited client/customer interaction in corporate roles
Conclusion
A junior controller is an excellent starting point for an accounting and finance career. It provides broad experience across a wide range of accounting functions and financial analysis. This role offers the opportunity to gain skills in high demand for future advancement to positions like senior controller, CFO, or other senior management roles. Candidates generally need a bachelor’s degree in accounting or finance to qualify for junior controller openings.