The 10 Best Paying Jobs In Finance

Finance majors usually love mathematics. They are excited about the ways that it impacts the business world. This excellent degree choice offers challenging work in a variety of industries. Everyone knows many finance jobs come with generous salaries. Newly minted finance graduates make employment decisions. It’s good to reflect on some of the best paying jobs in finance.

#1 Financial Managers

Average Salary-$127,990

A financial manager employs cash management strategies and directs company investments. They work to reach the organization’s strategic and economic goals. You’ll direct preparation of financial reports. These are according to company and finance industry standards as a financial manager. You’ll use your research and analytical skills to find future growth opportunities. The ideal results of your work should be optimized company resources and robust financial performance.

Financial managers need to prepare budgets, understand financial statements, and analyze budget variances. Financial managers need excellent written and verbal communication skills. They present and defend capital investment initiatives. They do this to company board members, executives, and colleagues. All industries need financial managers; public and private institutions.

The role of financial manager isn’t for a novice. Most organizations want finance degree graduates to have five years experience in finance. They will then consider them for financial manager jobs. This career is perfect for finance professionals going to school for a finance degree. Especially after working several years in more junior-level finance jobs. Financial managers oversee numbers and people. Most hiring managers prefer to see candidates who graduated from finance degree programs. They should have leadership training courses within their curricula.

The median annual salary of today’s financial managers is well earned. It commensurates with the job’s high level of stress. If you’re hoping to find a finance job that has a lot of telecommuting options, you’ll want to skip the role of financial manager. Finance graduates with C-suite ambitions can prepare for Chief Financial Officer positions.

#2 Economist

Average Salary-$104,340

One of the highest paying finance jobs is Economist. Economists evaluate production and distribution of raw materials, goods, and services. They present their findings to government agencies, corporations, and academic research organizations. Their work helps public and private groups forecast important aspects of their operations. Job availability in specific sectors, labor shortages, and natural resource scarcity are important. You must have these top skills to work as a successful economist:

• Qualitative and quantitative analysis
• Writing
• Verbal communication
• Critical thinking

Check out this example of how economists influence society. Economists collected science, technology, engineering, and mathematics (STEM) degree program data years ago. Their economic trends findings indicated that there would be future shortages in domestic STEM talent. Education departments around the country invested heavily in early childhood education STEM programs. They partnered with industry to create real-world learning opportunities to prepare grade-school children for rigorous college STEM curricula. Other government offices used the findings to justify pushing through more lenient visa requirements for immigrants who work in STEM-related fields.

Economists have great career prospects in many industries. These include healthcare, construction, education, and energy. Most employers allow finance majors to compete with economics majors for entry-level economist jobs. The government is one of the largest employers of junior-level economists. To gain access to senior-level economist jobs, you’ll need an advanced degree in a finance-related field. Seasoned economists have more telecommuting job opportunities. They find work at corporations, non-profit think tanks, and research universities.

#3 Financial Risk Manager

Average Salary-$99,949

The modern marketplace is rife with opportunities. Poor investment decisions can lead to financial disaster. This is especially true for start-ups and small businesses. Business operators use the services of financial risk managers to find and avoid fiscal pitfalls that derail profits and growth. Financial risk manager jobs exist in the banking and financial services sectors. Some companies are large enough to employ financial risk managers as in-house experts. They support corporate financial managers.

Financial risk managers assess financial risks in corporate operations. They analyze threats that appear in the market. These threats include disrupting technologies and innovative competitor products. As a financial risk manager, you’ll stay aware of new regulations that could impact your company’s market position. Finding risks is not enough for financial risk management. These business professionals show senior leaders how to reduce identified financial risks. This is based on analysis of company financial records and market research data.

Problem solving, communication, and quantitative analysis are the skills that financial risk managers need. Financial risk managers work with the latest valuation tools. They use the statistical models studied in finance degrees. These top finance jobs are in many industries. These include financial services, manufacturing, private equity firms, investment banking, and retail. Depending on your job, you could spend most of your day evaluating statistical reports at your desk. Your company could send you on frequent trips across the country to help financial team members and decision makers in other offices. Many financial professionals take jobs as risk managers. They gain the needed experience to later become financial managers.

#4 Personal Financial Advisor

Average Salary-$88,890

Economic conditions often change. Many people feel overwhelmed about planning for future financial security. Personal financial advisors help to reduce anxiety. They offer investment advice to people who are beginning their careers and retirees. These finance professionals hold positions of trust. Their highest professional priority is their clients’ best interests. Personal financial advisors must meet U.S. Financial Industry Regulatory Authority licensing requirements. These requirements matter if they are to work with clients.

Personal financial advisors consult with clients about their current situations, long-term goals, and retirement planning. They also help clients to generate plans that keep them moving forward financially. This involves creating portfolios that include stocks, bonds, insurance products, and mutual funds. Depending on your license, you’ll buy and sell investment products for clients’ portfolios. You’ll also do periodic reviews of client portfolios to ensure chosen investment products are still relevant. Most personal financial advisors have finance degrees. Some hold accounting and law credentials.

Great pay and helping people take control of their financial futures aren’t the only attractions to the personal financial advisor career field. According to the Bureau of Labor Statistics, this career is expected to grow at a faster rate than other jobs that the agency tracks. As a personal financial advisor, you can work for financial services companies or as a self-employed consultant. Since many of your clients work during the day, your schedule must be flexible enough to accommodate night and weekend work.

#5 Financial Analyst

Average Salary-$85,660

Personal financial analysts help the public to make sound investment decisions. But financial analysts give corporations, financial institutions, and government agencies investment advice. A successful company goes public or an announcement about a new expansion takes place. These big wins didn’t happen by accident. Most of the time it takes more than a great product and marketing prowess to carve out a firm position in a competitive market. Financial analysts give organizations an edge by offering forecasts. These are based on company and industry financial data.

As a financial analyst, you’ll work with senior leaders to generate policies that optimize company budgets. You won’t rest on your laurels. When you have historic data, you’ll do variance assessments. These ensure a company’s expenditures lead to achievement of its strategic objectives and financial goals. After evaluating sets of financial data, you’ll discover trends. These trends support decisions about expansion into new markets or product development. As a financial analyst you’ll need these skills:

• Quantitative analysis
• Written communication
• Verbal communication and presentation
• Computer application and database

Financial analysts develop strong interpersonal skills. They work with colleagues and management at all levels to present analytical findings. They work in teams or independently to gather business intelligence data. These financial analysts also create financial models in spreadsheet programs, and generate reports. Your finance degree is a great calling card for a job in this career field. Consider earning a credential such as the Certified Financial Modeling and Valuation Analyst. This will prove your commitment to professional development and keep you ahead of the competition.

#6 Investment Banker

Average Salary-$85,000

Another one of the highest paying finance jobs is investment banker. An investment banker works with corporations and government agencies to raise money in the capital markets. He or she also acts as an advisor during merger and acquisition initiatives. For example, a company identifies an opportunity to grow through a manufacturing plant expansion. It doesn’t have the liquid assets to pay for the initiative up front, or they’ve decided against draining their cash reserves to make the effort happen. A company such as this one could opt to issue bonds or stocks to get large amounts of money for its project. Government agencies sell bonds to raise funds for expensive construction projects. These projects include new roads, bridges, and municipal buildings. Corporate and public organizations rely on investment bankers to administer the stocks and bonds. This is according to U.S. Securities and Exchange Commission rules.

These finance jobs are challenging. You’ll need these skills to be a successful investment banker:

• Financial modeling and analysis
• Presentation and communication
• Leadership
• Entrepreneurial
• Diplomacy
• Creativity

As an investment banker, you’ll price stocks and bonds using valuation models. If you price investment products too high, you won’t get the demand for them that your client wants. When you price the items too low, you lose money for your clients. Your performance directly impacts your overall pay in the form of bonuses. The yearly base pay for entry-level investment bankers starts at $85,000. Some junior analysts reach base salaries of $100,000 per year at top firms. Performance bonuses allow them to nearly double their salaries. You can expect to stow away your social life for a few years and hang on to your ethics training. It’s common for new investment bankers to work more than 40 hours per week. You’ll encounter challenging projects that demand smart, ethical solutions.

#7 Statistician

Average Salary- $84,060

Statisticians use applied statistical methods to gather, test, analyze, and summarize report data. Their findings improve products, service outcomes, and business decisions in many industries. These industries include healthcare, government services, financial services, education, and even sports. Every industry values statistical skills. Each company relies on facts to make informed decisions.

Statisticians work in the healthcare industry. They help medical organizations check the costs and effectiveness of their products and services. They analyze data that’s been measured or observed. The results of your work help the healthcare industry to assess the general conditions of health for regional and national populations. The industry uses these statistical findings to justify investments in certain healthcare initiatives. Healthcare agencies may find that there has been an alarming upswing in Type 2 diabetes in children. They may use statistical findings to justify funding for educational programs. These programs advocate for healthy eating options for children.

Love sports? The statistician career field offers entry into professional sports. Sports include baseball, basketball, football, and hockey. The data points that you gather about the game give coaches, team owners, players, and their fans a birds-eye view of how a player performs in a specific area of his or her sport. Earned run averages, runs batted in, and assists per game are popular data points that statisticians calculate. Besides being fun trivia fodder, industry insiders use statistics to negotiate player salaries. They also justify endorsement deals and initiate trades.

Statisticians enjoy great pay while working in low-stress environments. Statisticians who work for the Bureau of Labor Statistics predict that job growth rates in this career field will rise faster than ones in many other career fields in the near future.

#8 Budget Analyst

Average Salary- $76,220

A budget analyst organizes funding for public and private agencies. He or she gathers financial data about program activities to support funding proposals and creates spend plans for funded programs. Organization leaders may want to implement a new product or service. They consult with budget analysts to create funding requests for the new items. Budget analysts give recommendations about program funding. These recommendations align with company goals, finance industry standards, and government regulations.

Nothing causes budget analysts and their bosses more anxiety than inaccurate reports. Sometimes budget analysts request funding for a program’s labor, equipment, materials, and maintenance. They must check program data for accuracy and completeness. A budget analyst who asks for project labor funding for three technicians risks having the project start late or not at all. The project may need four technicians to do the work. Budget analysts pay careful attention to details. Budget analysts need these skills to survive in their career field:

• Spreadsheet data modeling
• Oral communication and presentation
• Writing
• Mathematics and quantitative analysis
• Ability to focus under pressure

Budget analysts have opportunities to work in many industries. These include information technology, engineering services, defense, and education. If you work in the private sector, you’ll help companies to save money in specific business areas. You will also improve profits through data analysis initiatives. Public sector budget analysts’ work will optimize budgets for improved program performance. A budget analyst’s job duties usually vary with experience. Seasoned budget analysts in corporations give reports to C-suite executives. Their peers in government service often present financial information to law makers.

#9 Logistician

Average Salary-$74,600

Do you buy fresh salads from the grocery store? Ever scored a stylish pair of shoes from your favorite retailer? If so, you benefit from the work of logisticians. The supply chain includes the processes and methods that move goods from suppliers to consumers. Logisticians help to manage supply chain activities. Logisticians are sometimes called supply chain managers. They often work for national and global shipping companies.

As a logistician, you’ll perform activities that need attention to detail as well as big-picture strategies. You’ll direct supply purchases, schedule transportation, and coordinate storage at warehouses. You’ll also use interpersonal skills. They will cultivate productive, lasting friendships with suppliers, customers, and freight distributors. Your objectives are to move the right goods to the proper places in prompt and cost-effective ways. Technological advancements allow you to find and fix supply chain issues in real time. You’ll use customer relationship management and inventory management software programs. They streamline supply chain operations. Short, fast-moving supply chains save time and money.

Besides finding logistics jobs at shipping firms, you’ll locate work in manufacturing companies and in the government. Your finance degree helps to qualify you for many entry-level logistics positions. You’ll want to get certifications to move up in this career field. The American Production and Inventory Control Society offers credentials to those who pass its exams. They must also have the required combination of education and experience:

• Certified in Production and Inventory Management
• Certified Supply Chain Professional
• Certified Logistics, Transportation, and Distribution

Job growth for logisticians is about average in comparison with all other industries. The work environment for most logisticians is very fast paced. Successful logisticians need analytical, communication, and on-demand problem solving skills.

#10 Credit Risk Analyst

Average Salary- $71,520

Credit scores impact people, companies, and nations in many ways. A person with a good credit rating will have an easier time landing their dream job and getting a nice apartment. A company that demonstrates fiscal responsibility attracts investors for its projects with ease. Many economists believe that a nation’s credit rating impacts the country’s cost of capital and stock market yields. Credit risk analysts are financial professionals. They assess the credit ratings of people, organizations, and securities products.

As a credit risk analyst, you’ll check many things. They include credit histories, financial conditions, and economic environments of these entities. You’ll use the data to assign a credit risk rating that impacts interest rates and terms of loans. Your analysis may find that a company is in moderate economic straits. You can recommend tougher terms or more fees for money that your company lends to that business. You may determine that a company has a high probability of timely loan repayment. You could suggest increasing its credit line. Your job is to protect lenders against high risk loans. You might also seek out new investment opportunities.

When lenders regularly make poor decisions about creditworthiness, they risk bankruptcy. To avoid this, they use credit risk analysts. They dig into the details about the credit risks related to people, companies, and investment products. Credit risk analyst find out if a corporate borrower has adequate cash flow to pay bills and expenses. They examine the company’s financial statements. When you assign credit scores to individuals, you’ll use automated, algorithm-based tools. These account for the person’s loan repayment history, current spending levels, and past bankruptcies.

You’ll find the highest paying credit risk analyst jobs at securities investment firms, investment banks, and credit unions. Asset management firms also offer challenging work. Here are some skills that you’ll need to master this job:

• Quantitative analysis
• Verbal communication and presentation
• Research
• Computer spreadsheet and database

Best Paying Jobs in Finance Next Step

Which financial careers in this list of the best paying jobs in finance piqued your interest? Follow that curiosity! See what types of companies in your area are looking for. What do you you need to work on to land your dream finance job? Make your plan and see what exciting things unfold in your future!

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