The financial industry is huge and includes many options such as investments, banking, financial technology, and, most popularly known as fintech.
If you’ve been planning on working in finance, here are some options you can look for in the finance industry.
Salary Review In Finance Jobs
Financial jobs are considered highly lucrative and one of the highest-paying jobs globally.
Reports confirm that the median Salary for the financial industry as a whole stands above the national average of the entire country.
According to the reports provided by the US Bureau of Labor Statics, jobs in finance pay a national average of $ 76,570. It is 67% higher than the median Salary of almost all occupations in the country ( $45,760 approx).
The Most Lucrative Finance Jobs To Look For If You Have A Finance Degree
From the best paying jobs in major banks to the companies ruling Wall Street, here is a list of the best paying jobs in finance to choose from:
1. Financial Adviser
- National Average Salary: $75,000 per annum (approx).
They are the professionals that help make all the clients’ financial decisions. They work either with financial institutions or independently. They advise clients regarding their financial and investment decisions, short and long-term goals, and help them with products that will be profitable for the business.
The key duties of a financial advisor are to be well knowledgeable about insurance products and services, work closely with underwriters and people associated with risk assessment.
2. Senior Accountant
- National Average Salary: $78,341 per annum (approx).
As a senior accountant, you will be at the top of the accounting hierarchy and responsible for the day-to-day accounts activities.
The key roles of a senior accountant are sticking to the budget plan, meeting the company’s financial goals, and keeping an eye on all corporate expenditures.
3. Investment Banker
- National Average Salary: $84,509 per annum (approx).
The main job of investment bankers is to maintain the portfolio of different companies and government agencies that are more likely to invest in other businesses.
Being an investment banker is an interesting job where you can offer expert advice on the stock market, profitable mergers and acquisitions, and other financial topics.
The key role of an investment banker is to help the clients generate and invest capital in such a way that is intended to help the business achieve growth in terms of its financial goals.
4. Hedge Fund Manager
- National Average Salary: $86,544 per annum (approx).
The job of a Hedge Fund Manager is very similar to that of an Investment Baker. The basic difference lies in the risks the respective job roles deal with.
A Hedge Fund Manager deals with higher risk and reward portfolios for investors who want to pool their capital to invest in hedge funds.
The main job of a Hedge fund manager is to keep monitoring the market at all times for the protection of the investors. Their work begins at the earliest hours and they tend to leave the office at the latest.
It is that one job that does not abide by the rules of a typical 9-5 job. Extra work is a basic criteria.
5. Financial Analyst
- National Average Salary: $95,570 per annum (approx).
Financial Analysts hunt through financial data that helps business stakeholders to make well-informed decisions about the company’s finances.
A financial analyst mainly works with banks, funds, insurance companies, and other financial institutions to provide support to the buying decisions and the requirements of customers all across the country,
6. Information Technology Auditor
- National Average Salary: $98,026 per annum (approx).
IT Auditors help detect fraud and find errors in the organization’s financial statements. Despite being well-educated or experienced, hard work and determination are crucial to becoming an IT Auditor.
The key job of an IT Auditor is to review and ensure the efficiency of an organization’s IT tech systems. In simple terms, the IT auditors identify an issue, then report it to the management and accordingly propose feasible solutions.
7. Financial Software Developer
- National Average Salary: $109,117 per annum (approx).
The main job of a Financial Software Developer is to work in the growing Fintech environment. Multiple industries hire Financial Software Developers to design and create advanced technology solutions for the never-ending challenges in business.
8. Private Equity Associate
- National Average Salary: $111,388 per annum (approx).
They are the business executives who work in investment banking and find out potential investors, help with the already acquired investments, and carefully work with the existing customers of an investment bank.
9. Chief Compliance Officer
- National Average Salary: $137,271 per annum (approx).
The job of a CCO is at the executive level, which helps maintain an organization’s compliance with laws and regulations.
They hold high-ranked management positions, which allow them to use their skills to guide other employees through processes that promote compliance.
10. Chief Financial Officer
- National Average Salary: $148,750 per annum (approx).
The key roles of a CFO are vast. They oversee analysts and budgeting, make vital cost-related decisions about the business’s technology infrastructure, and manage the financial teams.
Conclusion
Despite providing a substantial income, financial jobs are stressful and require passion. You must work between 70-90 hours a week as a new employee. If you can withstand the pressure in the initial years, lucrative compensations are guaranteed.
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