3/13/2023 0 Comments Best paying jobs in finance![]() ![]() Though not strictly a finance career, management consulting is an area of business in which a finance background is valuable. A general business major is acceptable for a financial advisor but may not be sufficient for an analyst. Financial analysts as a whole earn a median salary of $84,300, but in the securities, commodity contracts and financial investments industry, the median wage is $100,180, the BLS reported.īecause analyzing investment opportunities is so central to their work, financial analysts tend to need stronger math and analytical skills than personal financial advisors. While personal financial advisors work with individual clients, financial analysts work for businesses such as banks and insurance companies. One of the biggest differences between financial analyst and personal financial advisor is employment setting. This job requires excellent math, computer and analytical skills, because financial analysts evaluate the financial stability and performance of companies and investment opportunities. Financial AnalystĪnother high-paying finance role is financial analyst. The median salaries listed for financial advisors don’t include bonuses or commissions earned on the financial products they sell, according to the BLS, so the full earning potential for this occupation can be even higher. General financial advisors work with the public, but one type of personal financial advisor, known as private bankers or wealth managers, work exclusively with clients who have a great deal of wealth to invest. Financial planners meet with clients and develop strategies to help them achieve financial objectives that can include saving for short-term or long-term goals and investing money for growth. The work of a financial planner is satisfying and exciting, but it can also be stressful and requires strong math and analytical skills. For personal financial advisors who work in management of companies and enterprises, the median wage is $82,330, followed by $78,550 for those in credit intermediation activities and just $70,290 for those working for insurance carriers. Personal financial planners in other industries see median wages several thousand – and up to $20,000 – lower than the overall median for this occupation. ![]() Because this industry accounts for more than half of all financial planner jobs, it skews the overall median wage slightly higher. Salary-wise, jobs in the industry of securities, commodity contracts and financial investments activities offer the brightest prospects, paying a median salary of $98,560. A financial planning role called personal financial advisor offers a median annual wage of $90,640, according to the BLS. Personal Financial Advisorįinancial planning is another high-paying career option for finance majors. Chief executives enjoy a median wage of $183,270, with the potential to earn much higher salaries and bonuses, according to the BLS. Least lucrative are government financial manager roles, with a median wage of only $110,610.įinancial managers at the very highest level, called chief financial officers (CFOs), are part of the chief executive occupation. Next most lucrative is management of companies and enterprises, an industry which accounts for 11 percent of employment in this field and pays a median salary of $141,890. The professional, scientific and technical services industry, which employs 12 percent of financial managers, pays the most, with a median wage of $147,040. The median salary for financial managers is $125,080, the BLS reported, although industry of employment makes a big difference in your earning potential in this role. This means monitoring financial performance through generating financial reports, but it also involves planning for future financial success through handling investments and developing the company’s financial strategies. The role is responsible for ensuring what the BLS refers to as the “financial health” of a business. Financial managers are top-level positions that include job titles like cash manager, credit manager, treasurer, financial officer and controller. Financial ManagerĪ financial manager is responsible for the big-picture financial operations of a business. The best-paying job roles in finance include financial manager, personal financial advisor, financial analyst, management analyst and financial examiner. Yet many jobs in finance pay median salaries that are $10,000, $20,000, or even upwards of $50,000 more than that median figure. ![]() The median wage for financial specialists is $70,120, nearly double that for all occupations, the United States Bureau of Labor Statistics (BLS) reported. You can make a lot of money in the business of managing money. ![]()
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