The financial sector offers some of the most lucrative job opportunities for new graduates as well as experienced professionals. The coronavirus pandemic has hit hiring across the board in the US, but the jobs will come back once the pandemic is under control. If you have a knack for mathematics, accounting, economics, or personal finance, there are many jobs in the financial sector where you can put your skills to good use. Here we take a look at the top 10 best paying finance jobs.
Finance is much more than just what happens on the Wall Street, though a lot of finance grads do end up on the Wall Street. You can get started in the world of finance with a degree in economics, business, accounting, law, or a related field. You can get some jobs with just a year or two of professional training.
The ranking and median salary is based on data from the Bureau of Labor Statistics (BLS), the US News & World Report, Glassdoor, and other sources.
Best paying finance jobs by salary
10- Credit Risk Analyst, $71,520
Credit Risk Analysts earn a median salary of $71,520. Their job involves evaluating the credit history, economic health, and financial conditions of individuals, businesses, and investment products. Your decisions influence the interest rates and other terms of loans. The Credit Risk Analysts protect their employers against exposure to high risk loans.
9- Accountant & Auditor, $71,550
Accountants and auditors earn a median salary of $71,550, according to data from the Bureau of Labor Statistics. They examine balance sheets, tax forms, and other financial records. Accountants are the busiest during the tax season. You can earn around $70,000 after a four-year degree. But if you become a Certified Public Accountant (CPA), your salary will shoot up to $100,000 or more.
8- Budget Analyst, $76,540
Budget analysts are employed by private companies, government agencies, universities, and other institutions. As a budget analyst, your job involves preparing budget reports, tracking spending, and ensuring that the budget proposals comply with regulations. You need a bachelor’s degree to become a budget analyst. Courses in accounting, statistics, and economics could also help you advance in your career.
7- Investment Banker, $ 79,847
Investment bankers earn a median salary of $ 79,847 in the United States. Their salary ranges from around $54,000 to $183,000, according to Glassdoor. Investment bankers work with individuals, corporations, and government agencies to help them raise funds, identify investment opportunities, and issue debt. They also advice in merger & acquisition activities.
6- Financial Analyst, $85,660
Financial analysts evaluate investment opportunities, study economic trends, prepare financial reports, and recommend investments to their clients. They often specialize in a particular sector or geography. They work with banks, security research firms, and investment firms. You need a bachelor’s degree to become a financial analyst.
5- Statistician, $87,780
Statisticians earn a handsome median salary of $87,780. Statisticians are required in a wide variety of fields including sports, finance, public safety, and environment. They collect, analyze, and interpret data to support business decisions. Statisticians also design experiments, surveys, and opinion polls to help guide decisions. It’s one of the best paying finance jobs, but you need a master’s degree in statistics to enter the field.
4- Personal Financial Advisor, $87,850
Personal financial advisors command a median salary of $87,850, according to the Bureau of Labor Statistics. They help their clients manage finances and plan for their future financial goals such as retirement, insurance, college savings, and estate planning. Personal financial advisors can be self-employed, but many work with banks and investment firms.
3- Actuary, $102,880
Actuaries have one of the highest median salaries in the financial sector. They study risks and potential financial costs of anticipated risks using statistics and financial models. They are employed by insurance companies, banks, investment firms, and governments. The job requires a bachelor’s degree and a long-term training.
2- Economist, $104,340
Depending on your education and expertise, you can earn between $100,000 and $200,000 a year as an economist. Most economists are employed by educational institutions, governments, and consulting firms. Economists hold one of the best paying finance jobs out there. They analyze data and use advanced mathematical formulas to predict future trends and make decisions.
1- Financial Manager, $127,990
Financial managers command a median annual salary of $127,990, according to the US News & World Report. They oversee the finances of their employer, create financial reports, profit projections, and cash flow statements. They also have to ensure every piece of data complies with laws and regulations. Financial managers must also be an excellent communicator to make sure that others in their organization understand the complex financial reports.
The world of finance is full of job opportunities. You just need the right education and skills to enjoy a fulfilling and high paying career.