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The financial industry employs a range of highly compensated professionals who carry out tasks such as managing accounts, analyzing market trends, and assessing investment risks. Many high-paying financial jobs have specific requirements for employment, including qualifications, licenses, and significant industry experience.
In this article, we will provide an overview of finance jobs, as well as a list of the 10 highest-paying finance jobs and their national average salaries. We will also describe the primary duties of each role.
What are Positions in The Field of Finance?
Before looking at some of the highest-paying finance jobs, it may be helpful to first understand the scope of these types of positions. Finance jobs can vary between organizations and industries. While the finance industry includes many finance professionals, financial specialists such as accountants and financial controllers can also be found in other industries, such as agriculture, manufacturing, construction, and retail.
The duties of finance jobs can also vary. Some roles may specialize in collecting and recording financial data, while others may involve the design, planning, and implementation of financial systems. However, the common theme among finance jobs is a focus on maximizing profits, reducing costs, minimizing financial risk, ensuring compliance, and evaluating financial systems.
10 of the highest-paying finance jobs
It is worth noting that many high-paying finance careers have specific employment requirements. Some may require licenses or registrations with regulatory organizations, while others may require extensive experience in finance.
The following is a list of 10 of the highest-paying finance jobs:
Read More: Largest Companies in the Finance Field
1. Tax accountant
National average salary: $81,772 per year
Primary duties: A tax accountant is a specialist in tax requirements, compliance, documentation, and submission. They have an in-depth knowledge of tax laws and regulations that apply to businesses. A tax accountant may work at a tax firm, offering services to private organizations, or be employed full-time by a large corporation. They may provide services to individuals or organizations by collecting, reviewing, and analyzing financial records, calculating tax obligations, and organizing and submitting tax documentation on behalf of clients.
2. Investment Banker
National average salary: $94,883 per year
Primary duties: An investment banker specializes in investment fields, which often determines their specific responsibilities. Their main goal is usually to provide financial advice and assistance to clients looking to raise capital for their business operations and activities. An investment banker sources investors for corporate clients, helps corporate clients with initial public offerings (IPOs), and assists corporate clients in securing beneficial investments such as bonds, stocks, and foreign exchange rates. They may also specialize in merging or acquiring companies and selling businesses to corporate entities.
3. Financial Accountant
National average salary: $95,705 per year
Primary duties: A financial accountant has a range of administrative and advisory responsibilities within a business. They may work as consultants or be employed full-time by corporations and large companies. Their primary duties typically include collecting financial data and preparing financial reports such as balance sheets, profit and loss statements, changes in equity, and cash flow statements. These documents help an organization evaluate its financial performance. Investors may also review these financial reports to assess the profitability and risk of investing in the organization.
4. Financial Analyst
National average salary: $100,559 per year
Primary duties: A financial analyst gathers financial and market performance data to predict revenue expectations and assist organizations in developing strategies. They often conduct in-depth market research and collect internal financial performance data to estimate future profits and losses for an organization. A financial analyst typically uses data collection and analytical software tools to perform their duties. These software tools help an analyst gather a large amount of data, clean the data, and present it in a clear visual format. A financial analyst's forecasts provide organizations with valuable insights, enhancing their decision-making abilities.
5. Risk Analyst
National average salary: $107,266 per year
Primary duties: A risk analyst has similar responsibilities to a financial analyst. In some organizations, a financial analyst may also perform the duties of a risk analyst. However, there are some differences. A risk analyst specializes in identifying the risks associated with business activities, such as investments, technological changes, and operational changes. They may also use data software tools to collect and analyze financial data. For example, they may identify an organization's expected revenue and compare it to the expected cost of investments. A risk analyst uses various mathematical formulas and functions to calculate risks.
6. Equity Analyst
National average salary: $112,495 per year
Primary duties: An equity analyst gathers and reviews financial and market data on public sectors, markets, and groups of companies. They typically advise clients on investment options through their analysis of market potential, company performance, and financial forecasts. An equity analyst typically conducts extensive research on companies and provides investment recommendations to clients. They may also assess the economic status of client businesses to help them plan investment strategies and make decisions such as going public and selling their shares on the stock exchange.
7. Auditor
National average salary: $114,784 per year
Primary duties: An auditor typically performs external audits on organizations to verify the accuracy of their financial reports. They often do this to ensure that organizations are complying with local industry and federal laws. An auditor may help businesses conduct internal audits to ensure compliance with laws, or they may perform external audits on behalf of government agencies. They review financial statements, such as balance sheets, cash flow statements, tax returns, and profit and loss (P&L) statements.
8. Accounting Manager
National average salary: $121,918 per year
Primary duties: An accounting manager oversees and coordinates accounting activities within an accounting or financial department. They supervise accountants, such as financial and tax accountants, to ensure the quality and accuracy of their work. An accounting manager may also review financial statements, prepare reports for business executives, and assist in the development and implementation of financial and accounting policies. These policies typically outline the accounting protocols for an accounting department to follow, such as the frequency of internal audits and the classification of assets.
9. Portfolio Manager
National average salary: $122,926 per year
Primary duties: Portfolio managers are responsible for making investment decisions and developing and implementing investment strategies on behalf of clients, which may be individuals, organizations, or groups of individuals. They are similar to equity analysts, but rather than advising clients, they make decisions on their behalf. Like equity analysts, they conduct extensive research on companies, markets, and sectors to identify investment opportunities. In some investment firms, a portfolio manager may work with a team of equity analysts.
10. Director of Accounting
National average salary: $129,708 per year
Primary duties: A director of accounting is similar to an accounting manager, but with more seniority and executive authority in an organization. They often plan, develop, and implement financial and accounting policies for an organization to follow. These policies outline processes, procedures, and protocols to ensure compliance with industry and federal laws. A director of accounting frequently formulates financial strategies to help organizations maximize profits and minimize expenses.
Read More: How Many Jobs Are Available in Finance?
Source: au.indeed.com
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