Top executive roles and very entry-level vocations, such as financial analysts, are among the best paying jobs in finance. In other words, the sector offers competitive remuneration at all levels. Using information from the Bureau of Labor Statistics (BLS), we determined the best paying jobs in finance and entry-level positions with high pay scales.
Best Paying Jobs in Finance
These best paying jobs in finance offer some of the highest median earnings in the financial sector. Still, your pay may vary depending on your area, organization, and experience level.
Chief Executives
$179,520 is the median annual wage.
The high remuneration of chief executives, such as chief executive officers (CEOs) and chief financial officers (CFOs), comes with a lot of responsibility. They are in charge of managing all business operations. Mainly CFOs oversee a company’s financial operations. Since this is a top-level best paying jobs in finance, the incumbent must have extensive industry knowledge.
Financial Managers
Average yearly pay: $131,710
High-ranking experts are known as financial managers design long-term financial plans for businesses. This is not an entry-level post. Instead, it is a profession for someone with substantial experience in banks, insurance companies, and investment businesses.
Personal Finance Advisers
$94,170 is the median annual pay.
Financial advisors, and personal financial advisors, in particular, assist customers in making important decisions regarding their financial conditions and budgets. A bachelor’s degree, registration with the Securities and Exchange Commission (SEC), and specific certifications like the certified financial planner (CFP) designation are typically necessary to become a financial advisor.
Financial Analysts
$81,410 is the median annual pay.
A financial analyst often forecasts the company’s financial future under a financial manager. Financial analysts work in several financial industries, and those who work in investment banking may even earn six-figure salaries.
Financial Examiners
$81,410 is the median annual pay.
Financial examiners are experts where money and law meet; they ensure businesses adhere to rules and that nothing is being mismanaged. Financial examiners can advance in their careers by earning certifications from the Society of Financial Examiners, which usually demands at least a bachelor’s degree for entry-level positions in this field (SOFE).
Budget Analysts
Average yearly pay: $79,940
Budget analysts study expenditure patterns inside a business and look for ways to strengthen its financial position. Some finance-related certificates can be helpful to for budget analysts, although they typically need at least a bachelor’s degree in accounting, mathematics, or business.
Accountants and Auditors
Average yearly pay: $77,250
Accountants and auditors frequently handle tax matters for a business. Still, they are also essential in examining the financial position of a business to identify potential areas for improvement and risk reduction strategies. By working as a bookkeeper or an accounting clerk, in the beginning, it is possible to enter the accounting field without a bachelor’s degree. However, certified public accountant (CPA) certifications are required of accountants who submit reports to the SEC.
Insurance Underwriters
Average yearly pay: $76,390
The gatekeepers for getting an insurance policy are insurance underwriters. They evaluate insurance coverage requests and assess the risk associated with providing a policy. For the insurance products they underwrite, underwriters can need particular designations, such as those reserved only for life insurance underwriters.
Claims Adjusters
Average yearly pay: $64,710
Someone must look into the specifics of the claim to determine how much the insurer should pay when a claim is filed. Claims adjusters can help with that. They negotiate settlements with insured parties and are experts on what an insurance policy does not cover. A GED or high school diploma is required.
Market Research Analysts
$63,920 is the average yearly pay.
Market research analysts operate in various financial industries to ascertain how much or how effectively a product or service can sell. They sift through demographic and market trend data to assist businesses in figuring out what goods consumers desire and how much they are ready to pay for them. There are no mandatory credentials for this occupation, although it is advised that you have a bachelor’s degree in a field that requires extensive statistical or research work.
Loan Officers
$63,380 is the average yearly pay.
Loan officers do the underwriting for financings such as business loans, mortgages, and personal loans. They decide who is qualified for a loan based on risk criteria like debt and credit score. Loan officers could require particular licences depending on their area of specialisation. For instance, mortgage loan officers must have loan originator licences (MLOs).
Finance Jobs with High Starting Salary
With a bachelor’s degree, you can enter the majority of best paying jobs in finance; but some need for a high school diploma or GED. According to the Bureau of Labor Statistics, business and finance occupations are expected to add about 800,000 new employees by 2030. Finance is also a developing industry. Therefore, there are always chances to start a career in finance!