The finance sector is a lucrative industry with many different high-paying finance careers. The best paying jobs in finance offer high salaries, job security, and comfortable working hours. With so many benefits and finance field companies to work for, a finance career is a great career path.
If you have been wondering what you can do with a finance degree, read this article for an overview of finance careers and finance salaries. We’ll cover high-paying finance careers, what these finance jobs pay, and the job growth outlook.
What Do Finance Jobs Pay?
The US Bureau of Labor (BLS) statistics reports the median salary for finance professionals is $72,250. Annual salaries vary depending on an employee’s education, experience level, and the company they work for. Finance professionals that work at Wells Fargo, Bank of America, and other large companies enjoy lucrative salaries.
Finance Job Outlook
BLS expects finance jobs to increase by eight percent over the next decade, the same rate as the average for all occupations. That translates to about 750,800 new jobs. Job availability in the financial industry will be moderately high, but there will still be competition for open positions.
Finance Job Satisfaction
A career in finance comes with an attractive salary, an exciting work environment, and career development opportunities, but some workers in financial careers report high stress. The finance industry is very competitive, and employees may work long hours working and struggle with work-life balance.
Finance Salaries: Lucrative Finance Careers
| Finance Careers | Finance Salaries | Job Outlook | Minimum Education |
|---|---|---|---|
| Financial Manager | $134,180 | 17% | Bachelor’s Degree in Business or Economics |
| Actuary | $111,030 | 24% | Bachelor’s Degree in Mathematics or Actuarial Science |
| Economist | $108,350 | 13% | Master’s Degree in Economics |
| Personal Finance Advisor | $89,330 | 5% | Bachelor’s degree in Finance or Accounting |
| Financial Analysts | $83,660 | 6% | Bachelor’s Degree in Business |
| Financial Examiners | $81,430 | 18% | Bachelor’s Degree in Business |
| Budget Analyst | $78,970 | 5% | Bachelor’s Degree in Mathematics or Business |
| Accountant | $73,560 | 7% | Bachelor’s Degree in Accounting |
| Investment Banker | $64,770 | 4% | Bachelor’s Degree in Business or Finance |
| Loan Officer | $63,960 | 1% | Bachelor’s Degree in Business or Finance |
Best-Paying Jobs in Finance: In Detail
Financial Manager
- Average Salary: $134,180
A financial manager helps organizations and individuals make sound financial decisions by preparing financial reports. They work in various industries and are responsible for budgeting, forecasting, and analyzing investments. Fund managers typically work in an office environment, but they may also travel to meet with clients or attend meetings.
Actuary
- Average Salary: $111,030
An actuary uses statistical methods to assess financial risks. They primarily work at insurance companies and calculate potential payouts from insurance policies for car accidents or health emergencies. Some actuaries work for federal or state authorities. Actuaries need strong mathematical and analytical skills.
Economist
- Average Salary: $108,350
An economist uses economic theory, mathematical skills, and statistical methods to analyze financial data. They research economic trends to help make business decisions or public policy. They typically work in government, private financial firms, or academia. This is a great career field if you are interested in how people make decisions about money.
Personal Finance Advisor
- Average Salary: $89,330
A personal finance advisor helps people manage their money and make sound financial decisions. They offer guidance on budgeting, investing, and retirement planning. To become a financial advisor, you will need good communication skills to explain financial concepts to clients.
Financial Analyst
- Average Salary: $83,660
The role of a financial analyst is to help businesses or individuals invest their money for profit. They analyze historical company data and the stock market and prepare an investment plan to present to the business or individual. This is a great financial career if you like keeping up with the latest business trends.
Financial Examiner
- Average Salary: $74,356
Financial examiners make sure that financial institutions are safe for consumers to use. They make sure loan policies are fair and that banks can return customers’ money on demand. You will need at least a Bachelor’s Degree in Business. It’s a great position if you care about making sure people are treated fairly.
Budget Analyst
- Average Salary: $78,970
Budget analysts are responsible for creating and managing the budget for their organization. They work across their organization to understand each department’s financial needs, then allocate the necessary funds. A Bachelor’s Degree in Accounting, Business, or Economics is required, but a master’s degree in any of these fields will improve your chances of getting a high-paying job.
Accountant
- Average Salary: $73,560
Accountants perform financial audits, maintain financial records, and provide advice on financial matters to individuals and businesses. Their primary responsibilities are to prepare financial statements, assess financial risk, and provide recommendations on improving financial health. Getting licensed as a Certified Public Accountant will help you access jobs with higher salaries.
Investment Banker
- Average Salary: $64,770
An investment banker raises money for a business by finding investors who are interested in that business. They also oversee the process of company mergers or acquisitions. Investment bankers work at investment banks, investment companies, or brokerage firms. For an entry-level position you only need an undergraduate degree, but you’ll need an advanced degree for higher-level positions.
Loan Officer
- Average Salary: $63,960
A loan officer works with clients to find and apply for business or personal loans. Loan officers make sure clients understand the terms of their loans and stay on top of their payments. To become a loan officer, you need excellent interpersonal skills and a Bachelor’s Degree in Economics, Business, or Finance.
Resources to Find the Best-Paying Jobs in Finance
- eFinanceCareers: eFianaceCareers post job openings in finance, accounting, and technology. The site includes advice and analysis for making finance career decisions.
- Graduate Land: Graduate Land is a network for recent graduates. It lists entry-level finance jobs and internships to get job training and graduate research programs.
- FinancialJobsWeb: This US job board has over 11,000 job postings in accounting, banking, insurance, and other finance careers. It also has an online career center with advice for the hiring process, like how to prepare for a job interview.
- Indeed: On Indeed you can create and upload a resume and receive job postings that match your education and experience.
- CareerBank: CareerBank lists remote, entry-level, part-time, and full-time jobs in banking, accounting, and finance. They offer a free resume review service to get your resume ready to apply for new jobs.
Is Finance a Good Career Path?
Finance is a good career path with growing job options with high-paying salaries. You can work with individuals, non-profits, businesses, or government agencies. People who work in finance have the opportunity to climb the career ladder and move into more senior-level positions as they gain more experience.
No matter what financial career you choose, you’ll need to get a college degree to meet minimum education requirements. You could do a Bachelor’s Degree in Economics or other fields related to mathematics, finance, or business. Many career paths also require you to have specific certifications or licenses to practice, and you may eventually need to get a master’s degree.
Best Paying Jobs in Finance FAQ
The financial job market is not declining. In fact, many financial careers are expected to see job growth higher than the national average over the next decade. There are plenty of jobs in the financial industry, but the competition for these high-paying jobs can be tough. Getting a good education and work experience through internships will help you get your first finance job.
Finance jobs will remain relevant as long as the world keeps using money. Businesses, individuals, and governments all use financial professionals to help them reach their own financial goals.
Artificial Intelligence can replace specific, repetitive jobs that require accuracy, but financial technology can’t completely replace the role of humans in the finance industry. Examples of jobs that can be replaced by artificial intelligence include underwriting and basic customer support.
Most finance jobs don’t directly involve sales. Financial professions analyze larger patterns and suggest changes based on that analysis. They work behind the scenes in organizations and rarely interact with customers. Finance professionals are not salespeople.
About us: Career Karma is a platform designed to help job seekers find, research, and connect with job training programs to advance their careers. Learn about the CK publication.
