Finance jobs are career opportunities in the financial services industry, which involves managing and analyzing money and investments. These jobs can involve a wide range of responsibilities, such as budgeting, forecasting, and analyzing financial data, making investment decisions, and providing financial advice to individuals or organizations.
The highest paying jobs in finance include top-level executive positions and relatively entry-level careers, such as financial analysts. In other words, the industry pays well at all levels. By using data from the Bureau of Labor Statistics (BLS), we were able to identify the best-paying jobs in finance as well as high-salary entry-level finance careers.
These careers have some of the highest median salaries in the finance industry, however, the actual salary may vary based on factors such as location, company, and experience level.
1. Chief Executives
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Median annual salary: $179,520
A chief executive officer (CEO) is the highest-ranking executive in a company, and is responsible for making major corporate decisions, managing the overall operations and resources of a company, and acting as the main point of communication between the board of directors (the board) and corporate operations.
The CEO is also accountable to the shareholders of the company. In large public companies, the CEO typically reports to the chairman of the board, but in smaller private companies, the CEO may be the chairman of the board as well. The CEO is often a member of the board of directors and is responsible for the overall success of the organization.
2. Financial Managers
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Median annual salary: $131,710
Financial managers are responsible for the financial health of an organization. They develop financial strategies, create financial reports, and analyze economic trends. They also oversee the investment activities of the organization and ensure that the organization's funds are being used in the most efficient and effective manner possible.
Financial managers typically work in a variety of industries, including finance and banking, insurance, and accounting. They may also work for government agencies or non-profit organizations. The responsibilities and duties of a financial manager can vary depending on the size and type of organization they work for.
3. Personal Finance Advisers
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Median annual salary: $94,170
Personal finance advisers, also known as financial advisers or financial planners, are professionals who help individuals and families manage their financial resources. They work with clients to develop financial plans that align with their goals, such as saving for retirement, buying a house, or paying for college.
Personal finance advisers assess the financial situation of their clients and help them make informed decisions about how to save, invest, and spend their money. They also help their clients create a budget, reduce debt, and plan for unexpected expenses.
Personal finance advisers may work for financial institutions, insurance companies, or as independent consultants. They typically have a background in finance or a related field, and may hold professional certifications such as the Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA).
4. Financial Analysts
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Median annual salary: $81,410
Financial analysts are professionals who provide guidance to businesses and individuals making investment decisions. They study financial data and economic trends to evaluate the performance of stocks, bonds, and other investments.
Financial analysts use this information to make recommendations to clients or to buy or sell investments on behalf of their employer. They may also be responsible for creating financial models and forecasting future performance of investments.
Financial analysts typically work in the finance and investment industry, and may be employed by banks, insurance companies, mutual fund companies, and other financial institutions. They may also work for government agencies or non-profit organizations. They typically have a background in finance, economics, accounting, or a related field, and may hold professional certifications such as the Chartered Financial Analyst (CFA) or Chartered Investment Manager (CIM).
5. Financial Examiners
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Median annual salary: $81,410
Financial examiners are professionals who are responsible for ensuring compliance with laws and regulations in the financial industry. They may work for government agencies, such as the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC), or for private financial institutions.
Their duties may include reviewing financial reports and records, conducting on-site inspections of financial institutions, and investigating possible violations of laws and regulations. They may also provide guidance to financial institutions on compliance with laws and regulations, and make recommendations for changes to improve compliance. They may specialize in specific areas, such as banking, securities, or insurance.
A bachelor's degree in a related field such as finance, economics, or accounting is typically required for this position. Some employers may also require relevant work experience or professional certifications.
6. Budget Analysts
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Median annual salary: $79,940
Budget analysts are professionals who work with organizations to plan, develop, and manage budgets. They review financial data, prepare budget reports, and analyze financial information to identify potential budget issues. They also help organizations make informed decisions about how to allocate financial resources and prioritize spending.
Budget analysts typically work for government agencies, non-profit organizations, or private businesses. They may be responsible for developing budgets for specific departments or projects, or for the organization as a whole. They may also be involved in forecasting future financial needs, identifying cost-saving opportunities, and monitoring actual spending against budgeted amounts.
A bachelor's degree in a related field such as finance, economics, or accounting is typically required for this position. Some employers may also require relevant work experience or professional certifications. Strong analytical skills, attention to detail, and the ability to communicate effectively are important qualities for a budget analyst to possess.
7. Accountants and Auditors
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Median annual salary: $77,250
Accountants and auditors are professionals who help organizations to maintain financial records, prepare financial statements and ensure that taxes are paid accurately and on time. They may also provide advice on financial matters such as budgeting, tax planning, and investment strategies. Auditors, in particular, are responsible for independently reviewing and verifying the financial statements of a company or organization to ensure that they are accurate and comply with relevant laws and regulations.
8. Insurance Underwriters
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Median annual salary: $76,390
Insurance underwriters are professionals who evaluate and assess the risk of insuring individuals and organizations. They review applications for insurance coverage, and based on their analysis of the applicant's risk level, they determine the premium that should be charged for the coverage. They also make decisions about whether to accept or reject an application for insurance coverage.
Underwriters typically specialize in specific types of insurance, such as life, health, property, or liability insurance. They use a variety of tools and resources, such as actuarial tables and credit reports, to assess risk and make their decisions.
9. Claims Adjusters
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Median annual salary: $64,710
Claims adjusters are professionals who investigate and evaluate insurance claims. They are responsible for determining the validity of a claim and the amount of compensation that should be paid to the policyholder. They may work for insurance companies, self-insured organizations or as independent adjusters.
When a policyholder files a claim, the adjuster will investigate the incident, gather and review evidence, and may interview witnesses or consult with experts. Based on the information gathered, the adjuster will make a determination on the validity of the claim and the amount of compensation that should be paid. They also play a role in preventing fraudulent claims and negotiate settlements with claimants or their representatives.
10. Market Research Analysts
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Median annual salary: $63,920
Market research analysts are professionals who collect and analyze data on consumers, competitors, and market conditions to help organizations make informed business decisions. They use a variety of research methods, such as surveys, focus groups, and observational research, to gather data. They then analyze this data to identify patterns, trends, and insights that can inform business decisions such as product development, pricing, and marketing strategies. They also use statistical software and other tools to present their findings in a clear and meaningful way.
Additionally, they also make forecasts and projections about future market conditions to help organizations plan for future growth. Market research analysts may work for companies, consulting firms, or government agencies.
11. Loan Officers
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Median annual salary: $63,380
Loan officers are professionals who work for banks, credit unions, and other financial institutions. They are responsible for evaluating loan applications and determining whether to approve or deny them. They also help borrowers to understand the various loan options available to them, and provide guidance on the loan application process.
When an individual or organization applies for a loan, the loan officer reviews the application and the borrower's credit history, income, and assets. They will consider the borrower's ability to repay the loan, as well as the purpose of the loan. Based on this information, the loan officer will make a recommendation on whether to approve or deny the loan, and if approved, the terms of the loan.
Loan officers may specialize in specific types of loans, such as mortgages, car loans, or small business loans. They may also be responsible for developing relationships with potential borrowers and promoting loan products to them.
Entry-Level Finance Careers with High Salaries
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A bachelor's degree is usually sufficient to start a career in finance, however, some positions only require a high school diploma or GED. The finance industry is also expanding, with the Bureau of Labor Statistics projecting the addition of nearly 800,000 new jobs in business and finance by 2030. This means that there are always opportunities to start a career in finance.
Some of the top entry-level finance careers include:
- A bank teller position typically only requires a high school diploma or GED and has a median salary of $36,310.
- An insurance agent position also typically only requires a high school diploma or GED and has a median salary of $49,840.
- A financial clerk position typically only requires a high school diploma or GED and has a median salary of $44,760.
- A real estate broker position typically only requires a high school diploma or GED and has a median salary of $48,770.
- Bookkeeping positions usually require some college education, but not necessarily a degree and has a median salary of $45,560.
- A stockbroker position requires a bachelor's degree and has a median salary of $62,910.
- A tax examiner position also requires a bachelor's degree and has a median salary of $56,780.
Read More: Largest Companies in the Finance Field
Source: www.theforage.com
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