A Guide to 15 Top Highest Paying Jobs in Finance
Besides the challenging profile, finance jobs offer a variety of lucrative job opportunities.
In this guide, we will give you some insights into the top 15 highest-paying jobs in finance.
Continue reading to find out which one is right for you!
There are numerous finance jobs are available, including within corporate finance, with its big corporations, is just one of many that require finance professionals, and are willing to pay them big bucks!
Furthermore, as another option as a certified financial planner and expert, you can operate independently across another financial sector after obtaining the necessary certifications and licenses.
Many of these top-paying finance jobs will also allow you to work independently and really maximise your earnings and freedom.
What skills do you need for the best-paying jobs in finance?
Generally, a bachelor’s or a master’s is required to enter a reputable financial sector position and begin a career in the financial markets.
It’s also helpful to have experience or knowledge in analyzing economic, financial, and statistical data.
An entry-level position will hire individuals with a bachelor’s degree, although there are some jobs available which do not require this.
If you are interested in a job in the financial industry but feel you need more financial knowledge, you may want to look at an online certification or minor qualification to get you started.
List of the 15 Best Highest-Paying Jobs in Finance.
The job list below includes the top business and finance occupations at high-profile banks.
These highest-paying jobs are considered the most sought-after jobs within the finance industry.
Finance is also on of the fastest growing sectors, with the Bureau of Labor Statistics projecting that business and finance occupations will contribute nearly 800,000 new positions by 2030.
As a result, there are more chances to secure a job in finance!
The following are some of the best-paying jobs in finance:
1. Personal Financial Advisor.
Personal financial advisors are among the highest-paid finance professionals.
They assist clients in making strategic decisions about their immediate and long-term financial objectives.
Personal finance advisers help people in various ways, including investments, insurance, savings, estate planning, retirement, and taxes.
The financial industry requires clients to meet on a regular basis to discuss their personal and commercial finances.
Someone working in this role must have exceptional financial skills.
Many investment companies are also seeking skilled professionals with at least a college degree.
Average Annual Salary: $72,000
Qualification: A finance degree or a relevant discipline and perhaps a Master of Business Administration degree.
Also, having good communication skills, critical thinking, analytics, writing, information technology, sales, economics, market study and trends, and retirement planning are a tremendous plus.
2. Financial Risk Manager.
A financial risk manager finds and analyzes threats to a company’s finances, assets, earning ability, or success.
Sales, credit origination, selling, marketing, financial services, and private banking are all jobs for financial risk managers.
Many of them concentrate on areas such as finance or market risk.
They also study data, financial markets, and global events to predict changes and trends affecting a company and recommend or execute security strategies.
Financial risk management has long remained an essential professional discipline in the finance sector.
Managers are vital in identifying risks to reduce negative financial outcomes for businesses.
Average Annual Salary: $109,473
Qualification: A finance degree or related fields such as finance, accounting, or business management.
It would be best to have good analytical abilities, a keen eye for detail, commercial awareness, planning, and organizational skills, an understanding of more significant business issues, and communication and presenting capabilities.
3. Investment Banker.
Investment banks assist government agencies and other corporations in investing.
They focus on raising money for business growth and assisting with attaining their financial growth goals.
Investment bankers help companies and governments grow money by underwriting and selling securities.
They also provide advice on mergers and acquisitions.
Average Annual Salary: Around $125,000, but can go up to $250,000 or more.
Qualifications: A bachelor’s degree in a relevant discipline and perhaps a Master of Business Administration degree.
Additional certificate courses, teamwork, and interpersonal skills, time and project management, and resilience in a high-pressure role are a plus.
4. Chief Financial Officer.
The CEO oversees financial planning for a company, while the Chief Executive Officer (CFO) oversees financial decisions.
CFOs are one of the best-paying jobs in finance since it calls for substantial financial leadership, knowledge, and an extensive network.
Average Annual Salary: $149,399.
Qualifications: A bachelor’s degree in a relevant discipline and perhaps a Master of Business Administration degree.
Budget management, financial reporting and analysis, corporate finance, leadership, consulting, and strategic vision are the skills required.
5. Private Equity Associate.
Private Equity Associates is a business leader that works with specialized investment banks and firms and focuses on acquiring and managing existing and prospective investors.
Average Annual Salary: $123,928.
Qualifications: A bachelor’s degree in a relevant discipline and perhaps a master’s degree in business administration.
Certifications that might be useful include Certified Private Equity Professional and Chartered Financial Analyst.
Associates in private equity must also have outstanding interpersonal communication abilities, great data, financial modeling and analysis, investment banking, corporate consultancy, negotiation, and networking.
6. Compliance Analyst.
Compliance analyst audits companies to ensure compliance with government laws.
They also provide employee training to industry requirements and advise on specific industry requirements and standards.
Average Annual Salary: $61,848.
Qualifications: A bachelor’s degree and experience in a financial services firm or a related field.
Compliance management software, advanced analytics, communication, audit and compliance procedures, regulatory frameworks, quality management, and financial planning are the skills required for this one of the top-paying jobs.
7. Hedge Fund Manager.
Hedge fund managers assist clients in running hedge fund operations.
They also oversee hedge fund investments.
A hedge fund manager’s responsibility involves using investment strategies and managing investors’ investment objectives, liquidity, and charges.
Average Annual Salary: $136,723.
Qualifications: Master’s degree in statistics, MFin, MBA, and Ph.D.
Quantitative expertise, communication skills, risk tolerance, portfolio construction, and interpersonal skills are required.
8. Chief Compliance Officer.
One of the highest-paying jobs in finance is a Chief Compliance Officer.
The Executives control all compliance functions within the financial teams, ensuring strict compliance with all applicable laws and regulations.
Average Annual Salary: $238,301
Qualifications: A bachelor’s degree in a related field.
You must also understand regulatory guidelines, security policies, risk assessment and management, compliance issues, leadership, and ethics.
9. Financial Manager.
Financial Management is a top-paying job in the finance sector and is in high demand.
The financial managers have the same functions as personal financial advisors but manage the company’s financial health and personal life.
This role will also require financial management skills.
Average Annual Salary: $78,759.
Qualifications: A bachelor’s degree and experience in a related field.
They must also have leadership skills, business communication, interpersonal communication, decision-making, investment principles, cash flow management skills, and knows the market trends.
10. Economic Analyst.
An economic analyst conducts economic research for a government or private company.
Using massive volumes of financial and economic data to generate economic projections and models is one of the job roles.
Average Annual Salary: $72,269.
Qualifications: A bachelor’s degree in economics, statistics, or a similar discipline, as well as expertise in authoring reports, are required for economic analysts.
11. Senior Accountant.
A senior financial analyst is a qualified person responsible for company reports on costs, margins, profits, and costs.
This document analyzes past transaction history and provides essential financial statements and data.
Average Annual Salary: $86,790.
Qualifications: Bachelor’s and master’s degree in accounting or a related field and a certified public accountant license.
You should also have analytical and problem-solving skills.
Proficiency with accounting software is a great plus, the accounting software I use for my business is Freeagent you can check it out here
12. Insurance Advisor.
Insurance advisers provide advice and help clients protect themselves through advising on insurance plans.
They are available for consultation and offer advice on insurance-related matters.
Average Annual Salary: $61,976.
Qualifications: A high school diploma or a college degree.
You must also have strong written and verbal communication and familiarity with product and benefits trends.
13. Internal Auditor.
An Auditor-in-charge is a professional who performs objective and independent assessments of the organization’s operations.
This professional also examines all documents to ensure efficiency within the organization.
Average Annual Salary: $71,183.
Qualifications: A bachelor’s degree in finance, computer information systems, or a related field.
You must also have knowledge of risk and project management, be good at data analytics, and have regulatory knowledge.
14. Information Technology Auditor.
Information Technology auditing specialists assist government organizations and even private companies in monitoring technology compliance and other needs of their enterprises.
This position requires technical skills in the field.
Average Annual Salary: $99,871.
Qualifications: A bachelor’s degree in a related field, experience, or a master’s degree.
You must also know about operating systems, internal audits, information security, and the ability to work independently and in teams.
15. Loan Officer.
The loan officers allow the approval of loans and evaluate them in a business-friendly manner.
The workers often work for banks, credit unions, commercial banks, and financial institutions and are often responsible for analyzing who is eligible to apply for loans.
The job also requires interaction with people and good knowledge of banking procedures.
Average Annual Salary: $93,266.
Qualifications: A bachelor’s degree in a related field.
You must also know the banking rules and regulations, math, and analytics, and have good interpersonal, customer service, sales, and decision-making skills.
Do finance majors make good money?
Undoubtedly, finance majors can earn a lot of money.
Finance is a large profession with various careers and businesses, and pay can vary greatly depending on the job, level of expertise, and other criteria.
On the other hand, several finance careers offer high wages and prospects for advancement.
According to the United States Bureau of Labor Statistics (U.S.BLS), the median annual salary for business and financial occupations in May 2020 was $72,250.
Yet, some finance careers might pay much more than this.
According to the BLS, financial managers earned a median annual pay of $134,180 in May 2020, while personal financial advisors earned $89,160.
Aside from pay, many finance jobs offer bonuses and other forms of compensation that can increase profits.
Investment bankers, for example, frequently receive significant incentives based on the profitability of their transactions.
In contrast, sales professionals in the financial business may earn commissions on the products or services they sell.
Therefore, while incomes in finance vary greatly based on various criteria, finance majors can earn a good living.
How to get top-paying finance jobs?
Here are some actions you can do to increase your chances of getting into the finance industry:
1. Get a relevant degree.
Many finance jobs often require a degree in finance, accounting, economics, or a related field.
Aside from that, ensure you get good grades and take relevant courses to help you build a strong foundation in financial analysis, modeling, and other vital skills.
2. Get relevant experience.
Internships or other work experience in the finance industry can help you develop practical skills and make valuable connections.
Also, look for opportunities to work at banks, investment firms, or other financial institutions, and consider joining student organizations or clubs that focus on finance.
3. Network.
Building relationships with people in the industry can help you learn about job openings and other opportunities.
Attend career fairs, industry events, and other networking opportunities to meet people and learn about potential job openings.
4. Consider getting certifications.
Some finance jobs, such as certified financial planners or chartered financial analysts, require specific certifications.
These certifications help demonstrate your expertise and make you more competitive in the job market.
5. Build your skills.
Develop your skills in financial analysis, modeling, and other vital areas by taking courses, attending seminars, and practicing independently.
The more you demonstrate your expertise, the more likely you will get hired for high-paying finance jobs.
6. Be prepared for interviews.
When you apply for finance jobs, ensure you’re well-prepared.
Research the company, practice answering common interview questions, and be ready to discuss your relevant experience and skills.
Final Thoughts.
There are numerous highest-paying finance jobs in the finance industry.
Salary levels in the financial sector can vary greatly depending on experience, education, geographic region, and industry expertise.
With that, getting a high-paying job in finance requires a combination of education, experience, networking, and skills development.
By taking the steps mentioned above, you can boost your chances of landing one of the best-paying finance jobs.
