Finance careers are one of the most exciting, yet challenging career to pursue. They offer lots of job opportunities across different industries with competitive salaries and benefits. Given the competitive nature of this field, it might be hard to distinguish which companies are the best match for your skills and career goals.
If you are interested in learning what companies are in the finance field, and which are the best to work for, this guide is for you. It features the best companies and the reasons you should consider applying to them. You will also learn about different types of finance industries, and find some easy steps you can follow to get a job in this field.
Types of Finance Companies
In this section, you will learn about some of the most common types of financial firms. Some of these provide services for the general public, while others have special offers for selected consumers.
These are associations or mutual benefit companies that provide different types of insurance to private clients and companies. They protect their insurance carriers from financial loss caused by accidents, death, property damage, and disabilities. Insurance companies offer home insurance, health insurance, car insurance, life insurance, and others.
Also known as consumer banking, retail banking offers financial services to private customers rather than companies or businesses. This type of financial company offers a variety of services, including savings accounts, credit cards, debit cards, personal loans, and mortgages.
Investment firms pool money from people or businesses known as investors to make investments in the stock market, bonds, cash equivalents, and more. One of the most common types of investment companies is the mutual fund company.
How to Get a Job in the Finance Field
In this section, you’ll find the basic steps of getting a job in the finance field. This industry offers various positions that come with opportunities for career growth. However, they are also highly competitive. To stand out in your job applications, intensive preparation is essential. Below are some essential steps you can follow to get a job in the finance field.
Earn a bachelor’s degree. You can still work in a finance company without a bachelor’s degree but this will greatly help you to stand out in your job application. With the high demand in the finance industry, job seekers undergo a strict hiring process and the recruiters carefully select the ideal applicant.
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Having a four-year degree in finance will help you learn financial concepts and skills that are essential to your job. You can also earn a master’s degree in finance and learn more complex and advanced finance subjects. This would also qualify you for senior roles.
Apply for an internship at a financial institution. Internships are a great opportunity for you to learn about the financial industry, as you will gain hands-on experience and develop your skills. You will be working with smart and competitive professionals who will help you enhance your industry knowledge. This is also a chance to expand your network and boost your resume.
Join finance industry mentoring. Find an experienced financial professional to help you advance your skills and reach your goals. A mentor will guide you in your career path and can give you helpful advice about the field. Mentorship will also help you establish your career goals and create an effective plan of action to reach them.
Take finance courses. This step will help you enhance your skills in finance and will also help you gain practical experience within a short period of time. Short courses will also boost your resume and portfolio, which can help you stand out from other applicants. There is a wide range of financial management courses available online or on-site.
Grow your network. Connecting with people in the finance field will also increase your chances of finding the right job opportunities. Reach out to finance professionals you know and build a genuine connection with them.
This is another way of getting a job in the finance industry if you don’t have much work experience. If you have built successful relationships, you might get recommended for positions or get references that you can use in your job applications.
The Best Companies in the Finance Field to Work For in 2022
Below is a list of the best and most prestigious finance companies to work for. Consider the options that suit your preferences and get a glimpse of what it’s like working for them.
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JPMorgan Chase & Co. is an investment and financial services company and is considered the largest bank in the United States, with $3.19 trillion total assets. It is also one of the Big Four Banks in the United States.
Why is JPMorgan a Good Place to Work?
According to PayScale, JPMorgan employees earn an average annual salary of $91,000. This company also earned a 4.0-star rating from Glassdoor reviews. Many of its current and former employees also agree that JPMorgan offers excellent employee benefits, provides a good company culture, and facilitates an enjoyable team environment.
Bank of America
Bank of America is an investment bank and financial services company. It is the second-largest bank in the United States with $2.35 trillion total assets and is considered the eighth largest bank in the world.
Why is Bank of America a Good Place to Work?
Being one of the largest banks in the world, working at Bank of America offers great opportunities for career growth. It also offers a competitive salary and great benefits. According to PayScale, the average hourly rate of Bank of America employees is $22.11.
Citigroup, more commonly referred to as Citi, is an investment and financial services company. It is also one of the largest banks in the United States with total assets of $1.70 trillion. This finance company operates in over 160 countries all over the world.
Why is Citigroup a Good Place to Work?
CitiGroup employees receive an average annual salary of $98,000 and an average yearly bonus of $7,000, according to PayScale. Current and former employees reported on Glassdoor reviews that Citigroup offers great employee benefits and facilitates a great working environment.
Wells Fargo is a financial services company that serves over 65 million clients. Wells Fargo was founded by Henry Wells and William G. Fargo in 1852. It is the third-largest commercial bank in the United States with total assets of $1.78 trillion.
Why is Wells Fargo a Good Place to Work?
PayScale reports that employees at Wells Fargo earn an average annual salary of $83,000. According to several current and former employee reviews on Glassdoor, Wells Fargo has good management and offers great benefits.
Morgan Stanley is a financial services firm and investment bank with 41 offices around the world. It was first opened in New York City in September 1935. In its first year, the company managed a 24 percent market share in public offerings and private placements.
Why is Morgan Stanley a Good Place to Work?
PayScale reports that Morgan Stanley employees earn an average annual salary of $92,000 and an average yearly bonus of $14,000. This company earned four stars from employee reviews on Glassdoor. Several previous and present employees say that Morgan Stanley promotes a healthy work-life balance and a positive work environment.
With over 755 branches, Capital One Financial Corporation offers various financial services such as credit cards, savings accounts, loans, and banking. This company was founded by Richard Fairbank and Nigel Morris in 1988. It is the tenth-largest bank in the US with $369.05 billion in assets.
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Why is Capital One a Good Place to Work?
Capital One is ranked nine in Fortune’s list of Best Companies to Work For. This company is known for offering generous paid time off, education support, free health and fitness classes, and excellent health, disability, and life insurance. The average salary of Capital One employees is $104,000 per year, according to PayScale.
US Bancorp is the fifth-largest bank in the United States with total assets of $547.85 billion. The company provides several financial services such as investments, banking, and mortgages. US Bancorp is the parent company of the US Bank National Association.
Why is US Bancorp a Good Place to Work?
US Bancorp employees earn an average annual salary of $80,000 with a yearly bonus of $6,000. According to several reviews at Glassdoor, employees like the excellent benefits the company offers. They also love the work-life balance it promotes.
Truist Financial is a financial services industry with over 2,500 branches that provides a wide variety of services such as insurance services, mortgages, commercial banking, and asset management. Truist Insurance earned $2.43 billion in brokerage revenue in the year 2020 and is considered as the top seven world’s largest brokers.
Why is Truist Financial a Good Place to Work?
Truist Financial is the sixth-largest bank in the United States with assets of $510.29 billion in total. Working at a big company like Truist Financial can give you lots of career opportunities and professional growth. It also offers employees generous paid time off, health insurance, maternity leave, and stock options.
Edward Jones operates with 15,000 branches in North America. It was founded by Edward D. Jones Sr. in 1922. This financial services firm serves its clients from the United States and Canada with 18,000 financial advisors.
Why is Edward Jones a Good Place to Work?
According to PayScale, the average annual salary of employees at Edward Jones is $64,000. This company is rated 4 stars on Glassdoor, with many employees attesting to its great training, new advisors, and work environment.
Veterans United Home Loans
Veterans United Home Loans is a mortgage lender company and was founded in the year 2002 by Brant and Brock Bukowsky. The company has 28 offices and is considered the largest veteran lender nationwide. Its mission is to provide veterans with the resources and support to buy homes and receive the help they need, which is why it donated nearly one million dollars to Mental Health and PTSD Initiatives in 2018.
Why is Veterans United Home Loans a Good Place to Work?
Employees at Veteran United Home Loans earn an estimated salary of $114,316 per year. This financial services company earned a high rating of 4.6 stars from Glassdoor reviews. Employees reported a positive work environment and opportunities for career growth.
Is It Hard to Get a Job in the Finance Field?
It depends on the position you’re aiming for. The financial services sector offers a wide variety of opportunities across many fields and types of business. If you want to pursue a senior-level position in finance, you’ll need a high level of education and enough experience to compete with other qualified candidates. Entry-level positions are equally competitive, although the requirements are much lower.
Should You Work in the Finance Field?
If you seek career development in a fast-paced environment, entering the corporate world of finance perfectly matches your goals. You will be working with experienced professionals who can help you grow in your career. With a competitive salary and benefits package, working in a finance field is a worthwhile career.
Best Finance Companies FAQ
According to PayScale, financial analysts earn an average annual salary of $67,410. An entry-level financial analyst earns $56,731, while a mid-career financial analyst can expect to earn compensation up to $73,475.
Some of the most common financial roles include accountants, financial analysts, bankers, financial advisors, and insurance agents. These are challenging, yet profitable jobs. They offer generous salaries and benefits, and a chance for professional development.
For a job in finance, it’s important to have analytical skills, interpersonal skills, communication skills, financial planning skills, and math skills. You’ll likely be dealing with financial statements, financial transactions, and other types of financial activity that will require problem-solving skills and customer service skills.
The US Bureau of Labor and Statistics (BLS) reports that financial jobs are expected to grow eight percent from 2020 to 2030. Financial occupations earned a median salary of $72,250 in the year 2020. Economic growth could have a big impact on the employment growth of finance careers.
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