With the proper education and experience, a career in finance can be highly rewarding. However, not all jobs in finance are equal. Some provide more interesting work than others, some are easier to advance in, and some pay substantially more than others. We’ll cover 15 of the best paying jobs in finance here so you can get a sense of how to select the right one for your goals.
The best paying jobs in finance are those that require a lot of skills and experience.
While it is difficult to predict what the future will bring, there are a few professions that have been consistently on the top of the list for decades. These include financial analysts, financial advisers, financial planners, and investment managers.
The number of people working in the financial industry is expected to grow by 3.2% in 2022. The job market for finance professionals is expected to see a 4.1% growth from the previous year and will continue to grow at a steady pace.
Paying Jobs in Finance
The finance sector is an immensely competitive industry and the competition is getting stiffer every day. But, this doesn’t mean that you should give up. There are still many ways to make money in this field and if you are willing to put in the effort, you can make a pretty good living.
15 Best Paying Jobs in Finance
1. Senior Financial Analyst
A senior financial analyst is a person who performs financial analysis for a company. They may also be responsible for preparing reports and presentations using the data they analyzed, which would help them make more informed business decisions.
A senior financial analyst typically has a bachelor’s degree in finance or accounting, though some companies will also hire those with an MBA. A senior financial analyst typically has 5-10 years of experience in the field, though this can vary depending on the company and their skill set.
2. Financial Controller
A financial controller is responsible for all aspects of a company’s finances. They typically work with their own team, but are also an important part of the CFO’s team.
The role requires someone who can quickly take charge and make decisions in a fast-paced environment. A good understanding of accounting is essential to this role so that you can review budgets, costings and performance on a regular basis.
As well as being able to understand financial information, you’ll need strong communication skills so that you can explain complex issues clearly to others within the business (including senior management).
3. Risk Manager
Risk Managers are responsible for identifying and evaluating risks in business operations. They are also responsible for developing strategies to manage these risks, monitoring the risks that they have identified, and participating in the decision-making process of risk management.
4. Financial Planner
A financial planner is a professional who helps clients to develop and implement their financial plans. They do this by helping them to manage their finances, manage risk, maximize returns and minimize taxes. This is a very popular career choice as there are many people who need help with their finances, but not all of them can afford it.
The pay for a financial planner varies depending on location and experience level; however, the average annual salary for an experienced professional is around $75k per year.
In addition to this salary you can also earn extra money from commissions when you recommend products such as mutual funds or insurance policies which your clients may be interested in purchasing from your company.
5. Quantitative Analyst
A quantitative analyst is a person who works with numbers and data to help companies make decisions.
Quantitative analysts use advanced math, statistics and engineering skills to create models that predict how customers will respond to products or marketing campaigns. They also may work with computer programmers to develop new algorithms for financial markets.
The job can be very lucrative; the median salary for a quantitative analyst is $92,400 per year, according to Payscale.com
6. Chief Financial Officer(CFO)
The Chief Financial Officer (CFO) is responsible for the overall financial performance of an organization. They usually work with senior management to develop long-term strategies and objectives, as well as short-term plans that support those objectives. A CFO is often paid more than other executives in an organization because they report directly to the CEO on matters related to finance and strategy.
As CFOs are responsible for managing all financial aspects of a company—from budgeting and forecasting to risk management—they must have solid leadership skills, strong communication skills, good problem-solving skills, attention to detail and strong analytical capabilities in order to complete their duties effectively.
7. Underwriter
Underwriters are responsible for analyzing a company’s financial statements and risk profile, as well as determining the appropriate risk-adjusted price for the company’s securities. The underwriter is also responsible for ensuring that there is adequate demand for the securities being offered by conducting market research with institutional investors.
Underwriters typically work within an investment bank or brokerage firm, but they may also work independently as part of a syndicate or consortium that brings together several banks to issue one security issue at one time.
Security underwriting is a key function in the global financial markets because it provides liquidity to companies looking to raise capital by selling their stocks or bonds on exchanges such as NASDAQ Stock Market® (NASDAQSM). Derivatives contracts can be traded in these exchanges through cleared brokers who act as intermediaries between buyers and sellers of futures contracts (a type of derivative product).
8. Credit Analyst
A credit analyst is someone who analyzes data, works with financial statements and other documents, and performs various other tasks in order to make investment recommendations.
If you’re interested in pursuing a career as a credit analyst, be prepared to spend your days working with numbers—and plenty of them. You’ll need strong research skills and the ability to analyze complex data sets. A bachelor’s degree in economics or finance can help you land this type of position; additional certification through the CFA Institute may also be beneficial if it’s available at your company or organization.
The Bureau of Labor Statistics (BLS) reports that job prospects for financial analysts are expected to grow by 10% over the next decade; this compares favorably with other top-paying jobs listed here, which are projected to grow at an average rate of 5%.
9. Accountant (CPA)
To become an accountant, you must have a Bachelor’s degree in accounting and pass the Uniform Certified Public Accountant (CPA) exam.
Accountants are in high demand and can work in a variety of industries such as finance, healthcare, manufacturing and retail. In order to succeed in this role, you must be detail-oriented with excellent math skills and great communication skills.
You will also need to be able to work under pressure because you’ll be responsible for balancing out the books at your company on a daily basis. This job requires multitasking since your duties will include analyzing data from various sources while communicating with both clients and colleagues.
10. Investment Banker
If you’re a financial whiz, an investment banker may be the career for you. Investment bankers help companies raise money by issuing bonds or through mergers, acquisitions and other means. The job requires high levels of research and analysis skills to determine how a company should go about financing its growth plan.
Investment bankers are also often involved in mergers and acquisitions, which can be lucrative because they have close ties with industry insiders who know when one company will buy another.
If this sounds like your cup of tea, here’s what it takes to become an investment banker:
11. Bank Manager
As a bank manager, you’ll oversee the day-to-day operations of a bank. You’ll manage staff, including hiring and firing. You’ll be responsible for the bank’s profitability and financial health. And as your title suggests, you’re also responsible for making sure everything is compliant with regulations. In short: it’s a lot of responsibility!
If you’re up for it, though—and if you have experience in banking or accounting—this could be one of the best paying jobs in finance out there.
12. Commercial Loan Officer
As a commercial loan officer, you’ll help people and businesses get loans for their real estate and other business needs. An average annual salary of $74,660 can be expected for this role.
The job outlook is projected to grow by 3% through 2026.
A four-year degree in finance or economics is required as well as an MBA or CPA certification (preferred).
13. Cash Manager
- Managing cash flows.
- Managing cash reserves.
- Managing cash forecasting.
- Managing cash positions.
- Cash budgeting.
- Cash flow forecasting (a type of financial planning).
14. Corporate Treasury Manager
Corporate treasury managers deal with the financial management of a company’s assets and liabilities. They are responsible for allocating funds to maximize profitability and minimizing risk, as well as maintaining liquidity by forecasting cash flow needs. Corporate treasury managers also help with tax planning, mergers and acquisitions, raising capital through debt or equity offerings, and maintaining appropriate credit ratings.
To become a corporate treasurer manager you’ll need experience in accounting or finance within a public company environment. You should have excellent analytical skills including trend analysis, forecasting, budgeting skills and understanding of financial statements.
Strong communication skills are also needed because you’ll be communicating regularly with other departments at your company such as sales or customer service regarding forecasted revenues versus actual revenues received from customers along with other issues related to managing cash flow during various stages of business cycles (e.g., recessionary periods).
A career in finance can be lucrative. It also requires hard work.
While the skills you learn in finance are crucial to understanding how money works, it also requires hard work and time management. If you are a person who likes to have control over their finances, then this could be a great career option for you.
Your days will be filled with long hours of studying and working with other professionals to make sure that your company’s finances stay stable. You should also know that not everyone makes six figures right away: many people start at entry-level positions and work their way up as they gain more experience in the field of finance.
The pay is high because there is so much responsibility on your shoulders every day! If something goes wrong, it’s likely because of something someone did wrong or didn’t do enough research on before making decisions about investments or loans etc… So I would recommend this career choice only if it interests you enough 🙂
Conclusion
We hope some of these careers have piqued your interest, and you’re ready to start a career in finance. Make sure to check out some of our other articles on careers in finance for more information, including salary ranges and educational requirements for each position.
