Jobs in the financial industry can be satisfying and, sometimes, very lucrative. This indicates they are in high demand, with entry requirements as high as specific salaries plus bonuses.
For the majority of career in financial services, a bachelor’s degree is required. Numerous finance professionals hold advanced degrees, typically an MBA. Ph.D.s and additional master’s degrees are not unusual in this industry. In addition, advanced statistics and mathematics skills are highly valued.
These jobs may provide above-average pay, to begin with, and then increase from there. Here is a summary of high-paying finance jobs:
1. Chief Executives
- Average annual salary: $179,520
Executives at the top of an organization, such as the CEO or CFO, have broad authority and responsibility and thus command a hefty salary. CFOs specifically manage a company’s finances. Because this is a high-level position, many years of industry experience are required.
2. Financial Analysts
- Average annual salary: $81,410
Typically reporting to a financial manager, a financial analyst predicts the economic future of a company. Financial analysts can earn six-figure salaries if they take a job in investment banking. They can be seen in a variety of finance-related industries.
3. Financial Managers
- Average annual salary: $131,710
Financial managers are senior-level professionals who make massive financial plans for businesses. This position is not entry-level. Instead, it is a career for individuals with considerable experience and vast experience in investment firms, insurance agencies, and banks.
4. Budget Analysts
- Average annual salary: $79,940
Budget analysts, in the simplest terms, examine financial plans to enhance a company’s economic performance. A bachelor’s degree in a particular field, such as mathematics, accounting, or business, is typically required for budget analysts.
5. Financial Examiners
- Average annual salary: $81,410
Financial examiners work at the intersection of finance and law, ensuring that companies follow regulations and nothing is mismanaged. A bachelor’s degree is usually required for entry, and the Society for Financial Examiners offers certifications to help financial examiners advance in their careers (SOFE).
6. Accountants and auditors
- Average annual salary: $77,250
Accountants and auditors frequently deal with taxes for a firm. Still, they also play a crucial role in analyzing a company’s finances to identify improvement opportunities and risk reduction strategies. Accounting can be entered without a bachelor’s degree, beginning as an accounting clerk or bookkeeper. CPA certification is required for accountants who document reports with the SEC.
7. Claims Adjusters
- Average annual salary: $64,710
When someone submits an insurance claim, one must investigate the claim’s specifics to determine the payment the insurance company should pay. This is the role of claims adjusters. They are experts on what an insurance policy does not cover and strike a deal settlement with insured partakers. It is necessary to have a high school diploma or GED.
8. Insurance Underwriters
- Average annual salary: $76,390
Insurance underwriters are the ones who decide who gets a policy and who doesn’t. They evaluate application forms for insurance coverage and assess the risk involved in offering an approach. Underwriters may require certifications specific to the insurance services they underwrite, such as categorizations exclusive to life insurance underwriters.
9. Market Research Analysts
- Average annual salary: $63,920
Market research analysts determine a product or service’s potential sales volume or success in various financial sectors. They analyze demographic and market data to assist businesses in determining what products consumers desire and how much they are willing to pay. A bachelor’s degree in a statistical or research-intensive field is suggested. Still, certification is not generally required for this profession.
10. Loan Officers
- Average annual salary: $63,380
Loan officers underwrite personal loans, home mortgages, and business loans. They evaluate who is eligible for a loan based on risk elements such as debt and credit score. Loan officers may be required to hold specific licenses based on their expertise. For instance, mortgage loan officers must be certified as mortgage loan originators (MLOs).
To sum up, there are many finance careers available to those with the right qualifications and interests, and each offers its own unique set of benefits.