Thousands of people lost their jobs in the past two years owing to the COVID outbreak. The finance market, too, was affected duly as scores of people became victims of the recession. These voids need urgent refilling as the financial sector revives gradually. Therefore, finance and fintech enthusiasts with proper skills and qualifications have a golden opportunity to land jobs in their dream companies at significant positions.
From investment companies on Wall Street to renowned banks, most international financial institutions offer lucrative salaries and multidimensional benefits to financial analysts and consultants. Moreover, because finance courses cover a broad range of topics, students are prepared for various finance occupations. Commercial banking, financial planning, investment banking, money management, and insurance are a few promising finance career options.
This blog aims at providing a list of the best-paying jobs in finance consumer services.
Top 10 Highest Paying Finance Jobs in the US
List for the highest paying finance jobs in the us is given below-
1. Investment Banker
Average Salary: $101,237
Investment Banking has been one of the most lucrative jobs since its inception (started by the Dutch East India Company). Investment Banking is a specialized banking sector where bankers raise capital from several government agencies and businesses and grow it by investing in different places and extracting high returns both for the investors and themselves.
2. Loan Officer
Average Salary: $49,008
The main work of a loan officer is authorizing loan approvals for businesses or individuals after evaluating their assets and potential for debt repayment. Salaries of loan officers depend on the type of loan they sanction. Commercial loan officers earn way more in commissions and bonuses than consumer loan officers.
3. Financial Analyst
Average Salary: $62,176
A financial analyst studies and researches the present economic trends and analyses where to invest strategically. The analysts advise their clients according to their needs and depending on the amount to be invested. Financial analysts are different from investment bankers, as the former does not take the client’s money and invest themselves, unlike the latter. Big multinational companies and banks hire financial analysts to determine their financial standings by measuring risks and growth prospects. Degrees in Data Analysis or big data help in the career of a financial analyst and make their job easier.
4. Accountant
Average Salary: $52,163
There are different levels of accountants. Junior accountants perform day-to-day accounting duties like sanctioning petty cash, reimbursement of bills, etc. The responsibility of a senior accountant is to ensure accurate tax filing of the company, meet the annual budget and accounting goals, oversee the expenditures on corporate events, etc. Accountants are in demand during the tax season, where they need to put in overtime hours for filing the tax returns before the deadline of April 15.
5. Compliance Analyst
Average Salary: $59,708
Professional compliance analysts audit organizations according to the standards of different governing agencies. The finance market depends on long-term economic stability, and financial growth relies on international economic standards. Therefore world finance is driven by compliance to a great extent. Naturally, auditors have been in high demand in the past few decades and will continue to be so for years to come.
6. Personal Finance Advisor
Average Salary: $70,037
Personal financial advisors are professionals who present their customers with an overall template on how to increase savings and channelize their hard-earned money. They show a path of investment through which the customers can have solid real estate plannings, college savings, tax savings, buy suitable life insurance, etc. They also advise on the available short-term and long-term financial investment options for securing low-risk high returns.
A bachelor’s in finance is required for landing a primary entry-level job as a financial advisor. However, for further career growth, an MBA works the best.
7. Hedge Fund Manager
Average Salary: $145,162
Hedge funds made headlines during the early 2000s when they showcased record market-beating performances. Although, after the economic crisis of 2007 and 2008, several factors like taxes and transaction fees have entered the picture, they still provide high profit on high investments.
Hedge fund managers look after these funds. Their work is similar to what investment bankers do, but hedge fund managers work with greater money, higher risks, and increased returns. A fund manager makes a lot of money but needs to dedicate their entire time to their work. It is a difficult job to handle such large amounts, but the pay compensates for that.
8. Financial Software Developer
Average Salary: $106,124
Fintech is a booming industry. Technology governs specific financial sectors that require more monotonous work and less intelligent input from human beings. From online insurances to premium deposits, AI-powered apps and software are accomplishing a range of diverse tasks.
Since this is a research and development wing, software developers with a knack for finance are always in demand. Greater skills provide bigger paychecks. Developing successful apps can turn developers into millionaires.
9. Financial Manager
Average Salary: $74,476
Financial managers are professionals who companies appoint to create and analyze the financial reports of the company. Then they work according to the result of this report and drive the company towards better profits and financial stability. They overlook the financial health of the organization. The last couple of years has seen thousands of financial managers recruited by companies like banks, NGOs, private and public sector organizations, etc. This is because of highly fluctuating changes in the market nowadays, owing to the involvement of cryptocurrencies.
10. Private Equity Associate
Average Salary: $96,764
The job of a private equity associate is to create a detailed analysis and research report on the current performance of all investments of the company. In addition, they monitor the business and develop financial portfolios for the employing organization. When new funds are required for new investment, the private equity associate must conduct the initial fundraising.
Generally experienced investment bankers or financial analysts take up the role of private equity associates after years of experience in the field.
A prerequisite skill for a budding private equity associate is a good grasp of statistics, data analytics, and mathematics.
11. CCO/CFO
Average Salary: $138,304 for CFO and $122,270 for CCO
CFO stands for Chief Financial Officer. A CFO of a company looks after the entire financial proceedings and mentors every financial staff. This is one of the most critical positions of any organization, as any wrong judgment passed from this seat can cause economic turmoil in the organization. A CFO’s seat is an essential and challenging chair to fill, with duties like making cost-related decisions, managing budgets, and making amendments in company policies.
A CCO, on the other hand, stands for Chief Compliance Officer. A CCO has to see whether the actions of the company meet the compliance standards. They focus on accurate auditing and compliance monitoring for the body’s efficient and smooth running to escape non-compliance penalty charges.
Final Thoughts
Students worldwide find finance an intriguing sector to work in since it pays considerably higher than most other professions. With the globalized upgrade to digital finance and its integration with technology, the need for financial professionals is at an all-time high. This demand will remain steady for the next decade, to assume the least. With a bachelor’s degree in accounting and finance, anyone can land a job in the finance world. An MBA can increase chances of going up the ladder with promotions and achieve the dream of working the highest paying finance jobs. If you want to gain in-depth knowledge and sharpen your skills while working in a pre-existing job, online degrees are the right choice for you.
If you’re looking for a high-impact course to enhance your career in finance, we recommend you acquire a Master of Business Administration (MBA) from Liverpool Business School. The 18-month program is offered in association with IMT Ghaziabad and Is powered by upGrad. On completion, students acquire a dual alumnus status and an ES-recognized degree that can do wonders for your career.
The program includes six specializations and is taught by world-class faculty. Students also receive dedicated career support and have access to a global network of 40,000+ paid learners.
So, what are you waiting for? Book your seat today!
