Finance is one of the broadest fields that offer several highest-paid jobs. But to get the highest-paying finance jobs, one must have obtained a graduation or post-graduation degree in Commerce, Finance, Economics, Business Administration, or any other related fields and must possess the necessary skills needed for the job. Even a bachelor’s degree in Finance is enough to apply for the highest-paying entry-level finance-related jobs in the banking sector, insurance companies, investment sector, tax, accounting, etc.
In recent times, especially, after the rise of the banking and investment sectors, there has been a high demand for finance jobs. Therefore, several companies pay a good amount of money for financial job positions like private banking analyst, insurance advisor, financial advisor, and so on. Moreover, by completing the CPA certification exam successfully, one can become a Tax Director or an Accountant. Another, well-paying finance job that requires more experience is the Auditor. To know more about the highest-paying finance jobs in 2023, continue reading this blog post.
Here, we have presented a list of the highest-paying jobs in finance and have also discussed the average amount one can earn in the finance field.
How Much Do Finance Jobs Pay?
Finance jobs pay well because of the increased demand. Basically, in the financial sector, a beginner can expect an annual income ranging from $50,000 to $60,000. However, for a person with more years of experience in the finance field, there will be a good scope to get the highest-paid jobs. On average, experienced finance professionals can earn up to $300,000 per year, or even more.
According to the report submitted by the U.S. Bureau of Labor Statistics, in the past decade, there has been a significant rise in the average hourly earnings of employees doing finance-related jobs. In January 2012, the average hourly wage of a financial job position was $28.59. But in February 2022, the average hourly salary has increased to $40.32.
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15 Highest-Paying Finance Jobs in 2024
In this section, let us have a look at the highest-paying finance jobs of 2023-2024.
Investment Banker
An investment banker is the one who is responsible for advising people or clients about how and where to invest their money, to receive good returns. At times, the investment bankers also act like a money borrower. This means they will invest the borrowed money from their clients and return it with interest, within a certain period. Some government organizations and large companies take the help of investment bankers to get easy returns on their investments. A bachelor’s degree in a finance course is enough to get an entry-level job in an investment banking company.
Average Salary: $35,000 – $300,000 per year
Financial Analyst
A financial analyst analyzes an organization’s finances, capital growth, opportunities, etc. Moreover, it is the responsibility of a financial analyst to make strategies for financial modeling and provide advisory services for a company’s growth. Also, they must examine the investment market and prepare reports. Most importantly, to acquire a finance analyst job, a candidate must have either a bachelor’s or master’s degree in courses like Economics, Finance, Business Administration, Statistics, etc.
Average Salary: $60,000 – $120,000 per year
Personal Finance Advisor
A personal finance advisor is an expert whose role is to explain how to allocate finances effectively and direct clients in achieving financial growth. Also, the personal finance advisors are responsible for planning budgets, long and short-term investment strategies, etc. To become a personal finance advisor, one must have a Bachelor’s or Master’s degree in a financial field, possess good convincing skills, and more years of working experience along with a good reputation.
Average Salary: $55,000 – $110,000 per year
Also Read: Top 10 Jobs That Pay 100K a Year Without a Degree
Financial Manager
Another highest-paid finance job is the financial manager. The primary role of financial managers is to take control of an organization’s finances in a way suitable to achieve the goals of the company. Also, financial managers must prepare financial reports and maintain company statements and forecasts. But, for this role, one must have at least a Bachelor’s degree in the field of Finance. Additionally, this role also requires at least 5 years of work experience.
Average Salary: $90,000 – $150,000 per year
Financial Risk Manager
Financial Risk Manager is a notable job in which a person has to understand a company’s financial situation, analyze the risks involved, and develop strategies to manage the effects of risks. To become a financial risk manager, one has to complete a Bachelor’s degree in a financial field and pass the FRM-I and FRM-II exams. Also, must possess at least 2 years of work experience as a Portfolio Manager or Risk Consultant, etc.
Average Salary: $40,000 – $220,000 per year.
Economist
Economist is yet another highest-paying finance jobs. The primary duty of an economist is to analyze what to produce, for whom to produce, and how to produce. Moreover, to increase the satisfaction of clients, economists play a vital role in studying the availability of resources. Also, they research the demand and supply of products, cost-effective production techniques, customer preferences, and several other details. To become an economist, one must have a minimum of a Bachelor’s degree in Economics.
Average Salary: $60,000 – $200,000 per year.
Private Equity Associate
Private Equity Associate is one of the popular highest paying jobs in the investment banking sector. The main role of a private equity associate is to establish and maintain relationships with potential investors and existing clients by helping throughout the deal process. Moreover, a private equity associate must have strong knowledge of the equity market. This is because good subject knowledge will help to provide proper guidance to the clients. Particularly, to begin a career as a private equity associate, one must have a Bachelor’s degree in a finance-related field. In addition to that, must have a few years of work experience in the finance sector.
Average Salary: $60,000 – $200,000 per year.
Hedge Fund Manager
A hedge fund manager is a person who is responsible for increasing returns by making investment strategies, creating portfolios according to market conditions, and adopting risk management techniques. To become a hedge fund manager, one must have a bachelor’s degree in Accounts, Business, or any other finance course. Moreover, for this role, the majority of the companies hire candidates with good experience in the field of risk control, portfolio management, or investment banking.
Average Salary: $30,000 – $500,000 per year.
Senior Accountant
In the list of highest-paying finance jobs, next comes the senior accountant. The main duty of a senior accountant is to maintain the company’s accounts, balance sheets, general ledger, and financial statements. Moreover, it is the responsibility of a senior accountant to file taxes, create financial reports, and perform audit-related activities. To start a career as a senior accountant, one must possess a Bachelor’s degree in any financial course, CFA certification, and a few years of work experience.
Average Salary: $46,000 – $185,000 per year.
Also read: Excellent Financial Dissertation Topics for Students
Private Equity Analyst
Private Equity Analyst is another highest-paid finance job. The role of a private equity analyst is to search for companies that can be invested in and increase their returns by doing objective planning, proper valuation, raising funds, and more. To take up the role of a private equity analyst, one must have a graduate degree in any finance-related course. Also, this role requires a master’s degree, preferably an MBA, and some years of work experience.
Average Salary: $60,000 – $90,000 per year.
Internal Auditor
Internal Auditor is also one of the highest-paying jobs in finance. The responsibility of an internal auditor is to check a company’s finances and operational efficiency, and then suggest best practices to improve the growth of the company. To get hired as an internal auditor, one must have a bachelor’s degree in commerce or accounting. Also, one must have completed a Certificate in Theory of Accounting (CTA) plus some work experience in the finance field.
Average Salary: $46,000 – $180,000 per year.
Private Banking Analyst
The role of a private banking analyst is to maintain relationships with clients and guide them on how, where, and when to invest their money based on their goals. This role is similar to the job of an investment banker. To start a career as a private banking analyst, one must have a Bachelor’s degree in Accounts or a related field.
Average Salary: $55,000 – $110,000 per year.
Insurance Advisor
Insurance advisor is another highest-paid job that is in demand. The primary role of an insurance advisor is to advise clients and convince them to invest in the insurance policy that is best for them. To become an insurance advisor, a candidate must have at least a bachelor’s degree in finance and a pass in CFP (Certified Financial Planner) certification.
Average Salary: $40,000 – $85,000 per year.
Tax Director
Tax Director is a job in which one has to help their clients in preparing and filing taxes. Also, a tax director should look for errors in tax calculation and suggest effective ways for tax reduction. To become a tax director, one must have a bachelor’s degree in Tax accounting, a CPA license, and a few years of work experience in the accounting field.
Average Salary: $100,000 – $220,000 per year.
Information Technology Auditor
With the Finance Assignment of IT auditors, businesses of almost all sizes and every field earn a lot of benefits. It is the role of an IT auditor to look after the technology system of a company. Moreover, they must help company owners understand the best practices through which they can obtain the optimum results. To get an entry-level IT auditor position, one must have a bachelor’s degree in any finance course.
Average Salary: $70,000 – $190,000 per year.
Other High-Paid Finance Jobs
Listed below are a few other highest-paying jobs in finance.
- Chief Financial Officer
- Chief Compliance Officer
- Compliance Analyst
- Senior Accountant
- Loan Officer
- Budget Analyst
- Finance Management Analyst
- Financial Examiner
Also Read: Best Paying Jobs in the Capital Goods Sector
Conclusion
Till now, we have seen the list of the highest-paying finance jobs of 2023-2024. Usually, to begin a career in the finance sector, you must have obtained a degree in any of the finance-related courses. In case, it is troublesome for you to complete your finance homework, call us immediately.
Generally, a career in the finance sector will be both intellectual and profitable. If you have strong subject knowledge, essential skills, and necessary finance certifications, then definitely you will get a chance to work with top finance companies that offer high-salaried jobs. No matter whether you are a beginner or an experienced, you will get a wide range of career opportunities to shine in the finance field.
