A career in finance is an excellent choice that offers challenging work in a variety of job settings. Finance is one of the highest-paying sectors that draws many job seekers.
The best way you can secure top-paying jobs in the finance field is to meet the required academic qualifications, skills, and on-the-job experience.
If you aren’t sure which career path to pursue? take advantage of the 15 top paying finance jobs in this article and select the option that suits your career aspirations.
- Why Career In finance?
- What Skills Do I Need for Career In Finance?
- What Education And Certification Do I Need To Secure The highest paying careers in finance?
- Top Finance Schools
- What Are The Highest Paying Careers In Finance?
- Frequently Asked Questions On Highest Paying Careers In Finance
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Why Career In finance?
Finance is the management of money, particularly in relation to companies, organizations, or governments- Wikipedia.org
A Career In finance comes with a lot of benefits. whether you choose to become an investment banker, a financial manager, or a financial advisor, a career in finance will expose you to the real-world, business-oriented critical thinking and problem-solving skills.
Today, Businesses, companies, and government agencies realize the value of mindfully managing their assets. For this reason financial planners, analysts, managers, and executives are in high demand. The expertise and guidance of these professionals can pave the way for a company’s or an individual’s fruitful future.
What Skills Do I Need for Career In Finance?
When it comes to careers in finance, professionals need analytical skills in order to dissect financial statements and appraise the financial standing of companies and other entities.
As a professional, you must also demonstrate a commitment to continuous learning in order to keep your skills relevant and remain aware of trends in the finance sector. To succeed in any finance position, you must meet the following;
What Education And Certification Do I Need To Secure The highest paying careers in finance?
In the finance world, there are various levels of degrees you can choose depending on your specific interests. If you are focusing on getting the highest paying careers in finance, beyond a bachelor’s degree, you must earn a master’s and even a doctorate degree. This will make you better suited for management roles in this field.
Here are the three main types of degrees that will qualify you for high paying jobs in finance.
A bachelor’s degree is the first step and minimum entry-level in pursuing any finance career. At this level, you will gain a comprehensive understanding of financial management, technological expertise, interpersonal skills, and professional insight.
This degree takes four years to complete and prepares you with the basic fundamentals you will need as a finance professional. In addition, a bachelor’s degree is a prerequisite for enrollment in a masters program in this field.
A master’s degree in finance degree takes two years to complete. It is an advanced program that expands upon the fundamentals of finance by focusing on specialized areas of finance.
The two popular options you can consider: a Master of Business Administration (MBA) with a focus in finance, and a master’s degree in finance. These degrees provide you with the skills needed for managerial positions in the field.
A master’s degree in finance will set you apart from your bachelor’s degree counterparts and also give you an advantage on your competition in the finance job market.
A doctorate degree is the highest level of financial education. It prepares you to become a financial researcher and/or financial instructor, as well as allow you to be qualified for almost any position in the financial world.
A doctorate degree in finance takes an additional four to five years to complete, after obtaining your bachelor’s and master’s degrees.
Top Finance Schools
What Are The Highest Paying Careers In Finance?
A career in finance is an excellent option for individuals who are skilled in mathematics. There is a wide range of high paying jobs in this sector with a great job outlook. Below are some of the best options to consider as you explore careers related to a finance degree.
1. Financial Analyst
Financial analysts are professionals who examine financial data and use their findings to help companies make business decisions. This may include forecasting future revenues and expenditures, as well as modeling capital structure and budgeting. They also advise clients and businesses on how to best invest and diversify their money.
The roles of a financial Analyst include:
Average Salary: $85,660
Job Outlook: 11 percent growth
These professionals are responsible for ensuring an individual or company’s tax information is accurate and done properly. They are responsible for preparing and examing of financial records. They work to ensure that records are accurate and that taxes are paid properly and on time.
Average Salary: $70,500
Job Outlook: 10 percent growth
3. Budget Analyst
Budget analysts help individuals, companies, schools, and government agencies organize their finances. They are responsible for ensuring that budget proposals are accurate and compliant with laws and regulations.
A Budget analyst should also possess the following specific qualities;
Average Salary: $76,220
Job Outlook: 7 percent growth
4. Financial Examiner
Financial examiners keep financial institutions, such as banks, legally compliant. They ensure compliance with laws governing financial institutions and transactions. Their role is to review balance sheets, evaluate the risk level of loans, evaluate the risk level of financial loans, assess bank management, and review balance.
Average Salary: $80,180
Job Outlook: 10 percent growth
5. Management Analyst
A management analyst also referred to as a management consultant, proposes ways to improve a company’s efficiency. Their role is to examine a company’s problems or ineffective procedures and develop solutions for improvement. Management analyst is one of the highest paying finance careers and also has a great job prospect.
Average Salary: $83,610
Job Outlook: 14 percent growth
6. Financial Manager
A financial manager is a top paying finance job. Professionals in this career are responsible for a company’s financial health. Their duty is to create financial reports and strategies for the long-term goals and growth of an organization. Financial managers are in high demand therefore individuals in this career have the greatest chance of finding jobs.
Average Salary: $127,990
Job Outlook: 19 percent growth
7. Loan Officer
A loan officer is a representative of a bank, credit union, or other financial institution that assists borrowers in the process of applying for loans. They evaluate creditworthiness and authorize loan approval for individuals or businesses.
Average Salary: $63,040
Job Outlook: 11 percent growth
8. Personal Finance Advisor
Finance Advisors are qualified money-management professional who helps clients meet their financial goals. They work in a wide variety of settings, from investments, life insurance, college savings, estate planning, taxes, and retirement to personal budgeting help.
Average Salary: $88,890
Job Outlook: 15 percent growth
9. Investment Banker
Investment banking is a great jobs in the finance sector. Professionals in this career have a wide range of responsibilities that touch many areas of the financial industry. Basically, the responsibility of investment bankers is to raise money for their clients by issuing debt or selling equity in companies for their clients. They also advise clients on investment opportunities and strategies, as well as assist with mergers and acquisitions.
Average Salary: $81,000 – $183,000
Job Outlook: 4 percent growth
10. Equity Analyst
Equity analysts are professionals who provide financial guidance and expert knowledge of stocks and bonds to investment advisors, brokers. While financial analysts consider a broad scope, equity analysts focus on the stocks of companies. They are typically employed by brokerages or financial firms to analyze the value of a company’s stock and make financial predictions about a company.
Average salary: $64,000 – $164,000
Job Outlook: 6 Percent growth
11. Credit Risk Manager
Credit risk management is a highly quantitative top paying finance jobs job. In fact, becoming a professional in this field often requires an area-specific master’s degree. Credit risk managers develop, implement, and maintain policies and protocols that help to reduce the credit risk of financial institutions. They manage the building of financial models that predict credit risk exposure to the organization.
Average salary: $67,000 – $134,000
Job Outlook: 16 Percent growth
12. Tax Director
Tax directors in finance oversee tax compliance, tax strategies, and tax accounting for financial organizations. This is a position that typically requires a bachelor’s degree, as well as extensive experience with accounting and taxes. Usually, tax directors report to the top management of an organization.
Average salary: $93,994
Job outlook: 10 percent growth
One of the highest paying finance careers with the highest job growth is Statistics. The Bureau of Labor Statistics predicts that job growth rates in this career field will rise faster than ones in many other career fields in the near future.
Statisticians use theoretical or applied statistical methods to gather, test, analyze, and summarize data to help solve problems in the industry, academia, and government. Their findings are used to improve products, service outcomes, and business decisions.
Average salary: $84,060
Job outlook: 33 percent growth
Economists conduct research, evaluate data, monitor economic trends, and develop forecasts on a wide variety of issues, including energy costs, inflation, interest rates, exchange rates, business cycles, taxes, and employment levels, among others.
They present their findings to government agencies, corporations, and academic research organizations. A bachelor’s degree is the minimum entry-level into this profession. However, to gain access to senior-level economist jobs, you’ll need an advanced degree in a finance-related field.
Average salary: $116,020
Job outlook: 8 percent growth
The actuary is a job in the finance field that analyzes the financial consequences of risk. Actuaries use mathematics, statistics, and financial theory to study uncertain future events, especially those of concern to insurance and pension programs.
They require strong mathematical skills to calculate the likelihood of various events and to assess the financial consequences for those outcomes.
They present their recommendations to managers at their firm and convince others of the soundness of their decisions.
Average salary: $102,880
Job outlook: 22 percent growth
If you are considering a career in finance and you don’t know the best option to select from, take advantage of the top-paying finance jobs we, ve highlighted in this article and choose the option that best suits your demand.
Frequently Asked Questions On Highest Paying Careers In Finance
How long does it take to complete a career in finance?
It takes 4 years to get a bachelor’s degree, two years post-baccalaureate. The total time is 5-7 years.
What GPA Do I need to enroll in the highest paying finance careers?
GPA of 3.0 and above.
Can I get a high paying job in finance without a degree?
A bachelor degree is the minimum entry requirement for any finance job.
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