10 Best-Paying Jobs in Finance (2023)

For those with strong analytical, communication and mathematical skills, finance can be a lucrative field with many professions to explore. And some of the best-paying jobs in finance are also the most stable opportunities. Obtaining the right education and skills will help finance professionals advance to high money-making opportunities.

Jobs in the finance industry draw many desirable workers due to their potential money-making opportunities. These roles are often in high demand with many entry-level requirements, including specific education requirements or certifications. However, those who land some of the best-paying jobs in finance at the top companies will find they have access to generous salaries and bonuses, making the often extensive hiring process worthwhile.

Someone that wants to join this field and make a large salary right away won’t have to look too hard. But certain jobs offer higher pay than others within this field. Recognizing those roles and understanding how to obtain them will help all ambitious finance professionals land the job they want.

What Finance Jobs Are Available?

There are many opportunities for people that want to work in finance. Depending on a person’s skills and interests, specific departments or work types may be a better fit. Additionally, finance roles often require a set expectation of education or training that not every professional has.

Investing

Typically, people working in investing help develop the relationship between investors and companies or individuals that need funds. These relationships should benefit both parties, so investing experts receive compensation for their role in making the connection.

Experienced investors are essential in the financial field. Having a bachelor’s degree in finance or economics will help someone land this role, as will negotiation, communication and critical-thinking skills.

Personal Advising/Financial Planning

This area of finance involves meeting with clients to help them develop a plan for personal finances (or business funds). Someone in this role would need exceptional financial expertise and attention to detail to give reliable advice to clients. In addition, most employers need professionals here to have either a college degree or a few years of practical experience.

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Banking

Banking is a very well-known and established finance job. Because of this, anyone that wants to have a stable entry-level position in the finance field may start by working at a bank as a:

  • Bank teller.
  • Loan officer.
  • Branch manager.
  • Loan processor.
  • Customer service representative.

Commercial banks offer many services, like loans, checking accounts or IRAs, which provide a lot of experience to those starting their careers in finance. A bank may require applicants to have relevant education and specific competencies based on the role, such as interpersonal communication or administrative skills.

Insurance

Large insurance agencies have many financial roles in areas like insurance sales, customer service or actuarial sciences. Someone interested in finding a finance job in insurance should obtain a bachelor’s degree in administration, finance or business and learn the specific skills necessary for their desired position.

Accounting

Accountants help individuals or companies have good financial healthby regularly reviewing and updating financial records. Corporate accountants may oversee many financial processes to help the company function well, while private accountants will help individuals track their monetary habits wisely. A person wanting to work in accounting will usually need at least a bachelor’s degree and experience in finance management.

Corporate Finance

This type of role involves managing a company’s finances. Someone in corporate finance may work in accounts, investing, banking, management or many other departments. For success, employees need to be trustworthy, organized and knowledgeable. Most employers will look for potential employees with at least a bachelor’s degree in business, management or finance.

10 Best-Paying Jobs in Finance (1)

10 Best-Paying Finance Jobs

Professionals wanting to work in finance may feel encouraged by the chance of large salaries, even with the high barrier to entry. Here are 10 of the best-paying finance jobs for those interested in the industry to consider if you want to make top-dollar earnings.

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1. Financial Advisor

A financial advisor discusses financial goals and creates a personalized budget for each client. Financial advisors may also provide guidance regarding investments, taxes, laws and other financial-related matters.

Average Salary: $119,960

2. Financial Analyst

Financial analystswill assess companies' spending habits and create a business plan for budgets. They often will help withfinancial forecastingto protect companies against potential loss.

Average Salary: $103,020

3. Economic Analyst

An economic analyst (or economist) analyzes economic data and prepares reports that explain their findings to stakeholders. Most of this role’s responsibilities rely on researching trends in finance and understanding how these trends may impact the economy's future. For those interested in this role, governmental agencies, large corporations and investment firms typically need this professional.

Average Salary: $120,830

4. Chief Financial Officer

A chief financial officer (CFO) holds the highest financial position within a company. Some of their key responsibilities include:

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  • Building the finance and accounting team.
  • Tracking revenues and expenses.
  • Directing financial planning.
  • Collaborating with others to create departmental budgets.
  • Consulting leadership personnel to choose a financial strategy.

Average Salary: $213,020

5. Investment Banker

An investment banker advises corporations or governments on economic decisions and helps them secure capital. Organizations will work with an investment banker to see how they should invest funds after making a sale or raise funds to make an investment purchase.

Average Salary: Between $80,200 and $98,030

6. Actuary

An actuary is a finance professional that analyzes and measures risk for an organization’s financial choices. They will see how various actions affect the balance sheet using statistics and financial theory before organizations make decisions. In addition, they may help with asset or liability management.

Average Salary: $125,300

7. Hedge Fund Manager

This professional works with portfolio managers and analysts tocreate hedge funds. Then, they will monitor these hedge funds and the market closely simultaneously to ensure the hedge fund has a goodrisk/reward ratio. They may need to regularly rebalance investments to align the hedge fund with research and market valuations.

Average Salary: $153,460

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8. Accountant

Accountants interpret and maintain financial records for individuals or organizations. They may also perform other finance-related tasks, like preparing financial reports or conducting risk analysis assessments. Additionally, accountants will ensure financial documents complywithl laws and regulations.

Average Salary: $83,980

9. Auditor

A financial auditor will review all financial documentation for an organization to ensure they are accurate and compliant. Although accountants may perform similar tasks, a financial auditor will have a deeper goal of uncovering fraud or mistakes when assessing an organization’s financial information. Auditors don’t make accounting statements for companies or resolve accounts; they aim to provide information firms may use to correct errors.

Average Salary: Between $66,644 and $85,532

10. Compliance Officer

Finance compliance officers verify an organization’s financial processes, such as accounts payable, financial analysis and accounting, to ensure they comply with national and international laws. They also determine if a company’s policies observe ethical and governing standards.

Average Salary: $85,584

Final Thoughts on Choosing a Career in Finance

Finance is a dynamic industry that constantly evolves and expands. Additionally, across the globe, many career paths exist based on skills, experience and interests.

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Choosing a career in finance is a great option for people looking for:

  • Challenging work.
  • Demanding environments.
  • Stability.
  • Growth opportunities.
  • Rewarding roles.

This industry has an opportunity for just about anyone. However, keep in mind that since many finance roles have high salaries and compensation packages, this is a competitive field. Learning as many relevant skills as possible and obtaining the proper education for the desired career path is essential to stand out as a top-notch candidate.

Top Takeaways

10 best-paying jobs in finance

  • The finance industry is a lucrative field for people with the right skills and interests.
  • Many careers are high paying in finance, but with experience and practice, professionals can reach higher levels that pay more.
  • Choosing careers based on skill sets, education and interests is the best way to find a profitable role in finance.

(Reporting by NPD)

FAQs

What finance job pays the most money? ›

Highest paying finance jobs
  • Insurance advisor.
  • Financial analyst.
  • Senior accountant.
  • Hedge fund manager.
  • Financial software developer.
  • Private equity associate.
  • Chief financial officer.
  • Chief compliance officer.

What is the hardest job in finance? ›

The positions that some financial recruiters have identified as the hardest and most competitive jobs to fill include controllers (including hedge fund controllers), tax managers, fund and senior-level accountants, and valuation analysts.

What 4 year degree makes the most money? ›

Highest Paying Jobs With a Bachelor's Degree
RankMajorMid-Career Pay
Rank:1Petroleum EngineeringMid-Career Pay:$187,300
2Operations Research & Industrial EngineeringMid-Career Pay:$170,400
3Electrical Engineering & Computer Science (EECS)Mid-Career Pay:$159,300
4Interaction DesignMid-Career Pay:$155,800
21 more rows

Is finance still a good career? ›

The U.S. Bureau of Labor Statistics (BLS) projects that business and finance employment will grow by 8% from 2020 to 2030, matching the average projected growth for all U.S. occupations. Certain roles within finance, like financial examiner, are projected to grow by more than double the national average.

What is the easiest finance job? ›

Entry Level Finance Jobs for New Grads
  • Accountant. Many finance jobs build on accounting skills and knowledge, but that doesn't mean that there's no need for general accountants. ...
  • Tax Associate. ...
  • Financial Analyst. ...
  • Credit Analyst. ...
  • Data Analyst. ...
  • Budget Analyst. ...
  • Economist. ...
  • Insurance Claims Adjuster.

What is the best finance degree? ›

Best Degrees, Majors & Courses for Banking & Finance Careers (...
  • MBA. When it comes to a career in banking, an MBA is still the gold standard. ...
  • Finance. ...
  • Business. ...
  • FinTech. ...
  • Economics. ...
  • Accounting. ...
  • Financial Engineering. ...
  • Engineering/ Mathematics/ Statistics/ Physics.
13 Jun 2022

What is the least stressful finance job? ›

Accounting: Finishing last on every ballot, accounting is “virtually stress-free as long as you like routine and are willing to work long hours on a seasonal basis,” said Cohen. There's also minimal client-facing and you're never on an island.

What 2 year degree pays the most? ›

What Are the Highest-Paying Associate Degrees?
  • Electrical Engineering. ...
  • Aeronautics. ...
  • MRI Technology. ...
  • Radiology Technology. ...
  • Respiratory Therapy. ...
  • Occupational Therapy. ...
  • Mechanical Engineering. ...
  • Network Engineering. Network engineers design, administer, and maintain local and wide area network systems.

What degree gets highest salary? ›

Which university degree will earn you the most money? These are the highest paying
  • General Engineering.
  • Economics. ...
  • Physics and Astronomy. ...
  • Computer Science. ...
  • Business and Administration. ...
  • Architecture. ...
  • Politics. Average starting salary: £20,900- £52,500. ...
  • Law. Average starting salary: £20,200- £22,700 per year. ...
15 Aug 2022

Which degree is best for future? ›

Here are some fields that are expected to have growth potential and continue to develop.
  • Engineering. Engineering is a large scientific branch focused on the practical design and building of structures or machines. ...
  • Healthcare. ...
  • Psychology. ...
  • Computer Science. ...
  • Business. ...
  • Information Technology. ...
  • Accounting. ...
  • Economics & Finance.

Why do finance jobs pay so well? ›

In this environment financial institutions have offered a number of highly priced services that companies and investors find worth the cost. This is a very competitive market and clients pay for what they perceive to be higher returns, less risk and reduced capital costs.

Which is harder finance or accounting? ›

Generally speaking, people consider accounting majors to be more difficult to study and pass than finance majors. And there are a few different reasons for this. The content of accounting majors is, on average, much more technical than for finance majors, and this can make it more difficult.

Are finance jobs stressful? ›

Like every field, there are also drawbacks to a career in finance. They can include high stress, big responsibility, long working hours, continuing education requirements, and, in some cases, a lack of job security—the finance industry is generally quite cyclical.

Why do finance jobs pay so well? ›

In this environment financial institutions have offered a number of highly priced services that companies and investors find worth the cost. This is a very competitive market and clients pay for what they perceive to be higher returns, less risk and reduced capital costs.

What is the highest paid banker? ›

High Paying Banker Jobs
  • Commercial Banker. Salary range: $104,500-$170,500 per year. ...
  • Investment Banker. Salary range: $48,000-$125,500 per year. ...
  • Private Banker. Salary range: $58,500-$125,000 per year. ...
  • Bank Secrecy Act Officer. ...
  • Business Banker. ...
  • Banking Consultant. ...
  • Bank Examiner. ...
  • Merchant Banker.

What is considered high finance? ›

High finance (pretentious as it may sound) refers to finance that primarily revolves around the provision of bespoke advice (frequently to institutions), rather than the (relatively commoditized) provision of capital (lending) or financial services (checking accounts, custody services, etc) alone.

Which bank career is best? ›

Check out your options to find the best career fit based on your interests, skills, and education level.
  1. Financial Analyst. As a financial analyst, you help businesses or individuals make investment decisions. ...
  2. Personal Financial Adviser. ...
  3. Relationship Manager. ...
  4. Accountant. ...
  5. Auditor. ...
  6. Branch Manager. ...
  7. Loan Officer. ...
  8. Collector.
19 Sept 2022

What jobs pay millions a year? ›

Jobs that better your chances of becoming a millionaire
  • Professional athlete.
  • Investment banker.
  • Entrepreneur.
  • Lawyer.
  • Certified public accountant.
  • Insurance agent.
  • Engineer.
  • Real estate agent.

Who makes 1million a year? ›

Companies such as BlackRock, Fidelity, Wellington, T. Rowe. Price, Capital, PIMCO, Prudential, Nuveen, Invesco, Janus, AXA, Legg Mason, TIAA-CREF and many more all have portfolio managers and some analysts who earn over $1 million a year.

Should I work in finance or tech? ›

Tech leaves its counterpart in the dust when it comes to work culture, job mobility, better hours, and better perks. People feel this. On every survey metric, tech beats finance on job satisfaction and employee happiness. The world of technology offers an unparalleled opportunity to learn, to build, and to innovate.

How much a CEO of a bank makes? ›

Related Article »
CEOCompanyTotal pay
Moynihan, BrianBank of America$21,779,832
Hooley, JosephState Street$19,480,660
Chenault, KennethAmerican Express$18,611,373
Corbat, MichaelCitigroup$17,801,683
6 more rows

What is Goldman Sachs salary? ›

Average annual salary in Goldman Sachs is INR 19.6 lakhs. Salary estimates are based on 8.6k Goldman Sachs salaries received from various employees of Goldman Sachs.

Which investment bank pays most? ›

In this blog, we discuss the top 8 high-paying investment banking companies in India that offer some of the highest salaries.
  1. JP Morgan Chase. ...
  2. Morgan Stanley. ...
  3. Goldman Sachs. ...
  4. KPMG. ...
  5. Ernst & Young. ...
  6. Deutsche Bank. ...
  7. HDFC. ...
  8. Axis Bank.
3 Aug 2022

Are finance jobs stressful? ›

Like every field, there are also drawbacks to a career in finance. They can include high stress, big responsibility, long working hours, continuing education requirements, and, in some cases, a lack of job security—the finance industry is generally quite cyclical.

How do I start a career in finance? ›

How to start a career in finance?
  1. Seek an internship.
  2. Use a current employee as a referral.
  3. Get guidance from a recruiter.
  4. Expand your knowledge with relevant courses.
  5. Start networking and find a mentor in finances.
  6. Update your resume to include valuable skills for this industry.
6 Jun 2022

Is finance a good degree? ›

Yes, a finance major is a good major for many undergraduate students. The Bureau of Labor Statistics is projecting 5% job growth in business and financial occupations over the next 10 years. Financial advisor, budget analyst, and investor relations associate are some common careers in the field.

Do bankers make a lot of money? ›

Yes, bankers can make a lot of money.

For example, a motivated personal banker can make more than $50,000 in total compensation their first year and more than that after establishing a broad customer base. Meanwhile, an investment banker and other Wall Street bankers typically make around $100,000 a year on average.

Which banking exam is toughest? ›

IBPS RRB

This is one of the most toughest banking exams in India. IBPS RRB stands for Institute of Banking Personnel Selection- Regional Rural Exam. This exam is given to individuals who want to work across banking sectors.

Which bank exam is easy? ›

IBPS Clerk Exam

Conducted at the clerical level IBPS exams are very easy to crack. IBPS is infamous for its transparency and pace with which the exams are conducted and the results are published. This exam consists of prelims, mains and a language efficiency test.

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