The unemployment rate in the finance industry is low, and the industry continues to draw top talent with great pay and benefits. In the next ten years, the number of available finance jobs is projected to grow faster than the average job. By 2030, there will be 750,000 more jobs in business and finance, up 8% from today.
It says that the U.S. According to the Bureau of Labor Statistics, the middle-level salary for jobs in business and finance in 2021 was $76,570 per year. According to other sites, the average salary for someone just starting in finance is $88,160.
A bachelor’s degree is needed for most jobs in the banking industry. But that investment has a high payback. Please keep in mind that the following rates can change based on experience and skill level. We hope that these tools will help you get a job in the banking field.
How Do You Get a Job in Finance?
Getting into the finance business and working for a reputable bank usually needs at least an undergraduate or bachelor’s degree. A background in business, economics, finance, or math is also helpful.
Some financial companies may say they hire people with a wide range of majors, but for entry-level jobs, they usually only hire people with bachelor’s degrees in those fields. You can get into the finance field even if you don’t have a degree in it by adding a related minor or getting an online diploma.
9 Business Jobs That Pay the Most
Some of the jobs on this list are at the very top of the financial field. Some of the most sought-after jobs in finance are these, which take time and experience in the field. They offer a lot of perks, job security, and chances to grow professionally.
Not quite there yet? We’ll talk about the eight best-paying entry-level finance jobs below. Once you get your foot in the door, you can learn more about these jobs and set work goals.
1. In Charge of Compliance
The job that pays the most in banking is Chief Compliance Officer. To make sure that a company and all of its processes strictly follow all laws, these executives are in charge of all compliance-related tasks and departments.
- Salary range: $197,001 to $278,101 per year on average
- You need to have a solid grasp of rules and regulations, security policies, compliance problems, risk management, leadership, and ethics.
- A bachelor’s degree in a related field is required, and a graduate degree in a related area is possible.
- The Certified Regulatory Compliance Manager (CRCM) certification and the Series 14 certification are both useful.
2. In Charge of Finances
Chief financial officers (CFOs) are in charge of a company’s budget, making decisions about costs, and the financial teams that work on it. The chief financial officer (CFO) position is one of the best-paying in finance because it takes strong financial management, a lot of experience, and a lot of contacts.
- $314,481 to $528,583 a year is the average income.
- Needed skills: managing budgets, analyzing and reporting on finances, accounting, corporate finance, consulting, leading, and having a long-term view of things.
- A bachelor’s degree in a related field and maybe an MBA are needed.
- Some qualifications that can be useful are Chartered Global Management Accountant (CGMA), Certified Financial Analyst (CFA), Certified Public Accountant (CPA), and Certified Management Accountant (CMA).
3. Private Equity Partner
Private equity associates are business executives who work for investment banks. Their job is to find investors, help them make investments, and do research on present investors. People who work in private equity need to be able to communicate well with others.
- $85,931 to $114,295 a year is the average income.
- Knowledge of the industry, data modeling and analysis, business strategy, investment banking, corporate advice, negotiation, networking, and communication are some of the skills that are needed.
- A bachelor’s degree in a related field and maybe an MBA are needed.
- The Certified Private Equity Professional (CPEP) and Chartered Financial Analyst (CFA) designations are useful.
4. Manager of A Hedge Fund
Managers of hedge funds help investors run a hedge fund and a diverse set of investments. These people are in charge of all the investments that hedge funds make. As part of their high-paying finance job, a hedge fund manager helps investors handle their fees, investment goals, and liquidity.
- $86,006 to $130,045 a year is the average income.
- Financial instruments, understanding of financial markets, risk (and risk tolerance), building a portfolio, talking to people, financial modeling, and quick math are some of the skills that are needed.
- Should have a bachelor’s degree in a related area.
- Chartered Financial Analyst (CFA), Chartered Market Technician (CMF), Financial Risk Manager (FRM), Registered Investment Advisor (RIA), Certificate in Hedge Fund Regulation (CHFR), Certified Investment Management Analyst (CIMA), and Chartered Investment Counselor (CIC) are some helpful certifications. Another one is Series 65.
5. Insurance Agent
When people talk to insurance experts about plans, they help them protect the things and people they care about. These professionals help by listening to your short- and long-term wants and giving you financial advice that is specific to insurance.
- $50,714 to $64,899 a year is the average income.
- Compliance, licenses, good written and spoken communication, politeness, and knowledge of product and benefit trends are all skills that are needed.
- A high school diploma and maybe even a college degree are needed.
- Helpful credentials: insurance licenses needed by the state
6. A Financial Expert
One of the best-paying jobs in finance is being a financial advisor, whose job is to help clients set financial goals and buy goods that will help them reach those goals. They help you save for big events in your life, like college and retirement. Most of a financial advisor’s time is spent meeting with clients, looking for new business possibilities, and putting investment plans into action.
- Salary range: $70,482 to $147,000 per year on average
- Financial licenses, planning for retirement, analytical thinking, communication, up-to-date market technology, sales strategy, understanding of the industry, and market trends, networking with other people, and active listening are some of the skills that are needed.
- Should have a bachelor’s degree in a related area.
and maybe even an MBA (Master of Business Administration) degree - Series 7, Series 63, Series 65, and certain product rights are all useful certifications.
7. Analyst of Compliance
Compliance experts check to see if businesses are following the rules and laws set by the government. They teach workers how to follow the rules of their industry and give businesses advice on the standards and requirements that are unique to that industry.
- $42,612 to $58,152 a year is the average pay.
- Compliance management software, advanced analytics, communication, audit and compliance processes, regulatory frameworks, quality management, and financial planning are some of the skills that are needed.
- Bachelor’s degree and experience in a related area are required.
- Certifications that can be useful include those from the International Compliance Association (ICA), the Certified Securities Compliance Professional (CSCP), the Chartered Financial Analyst (CFA), and the Certified Regulatory Compliance Manager (CRCM).
8. Auditor of Information Technology
For businesses or the government, IT auditors make sure that technology meets compliance and other goals of the business. The pay for these jobs is good, but you need to have expert knowledge in the field.
- Salary range: $59,676 to $77,752 per year on average
- Operating systems, web technologies, internal auditing, IT, information security, the ability to work alone and with others, communication, honesty, and analytics are some of the skills that are needed.
- A bachelor’s degree in a related field, work experience, and maybe even a master’s degree are needed.
- The Certified Information Systems Auditor (CISA) and the Certified in Risk and Information Systems Control (CRISC) credentials are useful.
9. Banker for Investments
Investment bankers help companies and the government put their money to work. For example, one of their main goals is to help businesses reach their financial growth goals and raise money to do so.
- Salary range: $72,133 to $89,566 per year on average
- Required skills include managing a business, researching markets and trends, being disciplined, building relationships, being an entrepreneur, using data to make decisions, communicating with others, having a global view, persuading others in presentations, and networking.
- A bachelor’s degree in a related field is needed, and a master’s degree is possible.
- Having a FINRA license, Series 7, Series 63, Series 66, or Series 79 is helpful.
8 Entry-Level Banking Jobs That Pay the Most
Some of the best-paying entry-level jobs are in the finance business. And high-paying entry-level jobs in banking are in high demand right now. With a degree in finance, you can go in a lot of different directions, so it’s important to learn about your choices and look into different job options.
You will have a better chance of getting a job offer if you look for jobs that match your experience, hobbies, and skills. We’ll look at some of the best-paying entry-level finance jobs for people who are new to the field.
1. Manager of Money
One of the best-paying finance jobs right out of college is becoming a financial manager, and the need for them is growing. Personal finance experts and financial managers are both in charge of people’s money, but financial managers are in charge of a company’s money. For this job, you need to know a lot about the market, which could come from having experience managing money.
- Salary range: $59,779 to $106,395 per year on average
- Leadership, business communication, interpersonal communication, making decisions, investment principles, cash flows, financial data analysis, expense forecasting, government contracts, financial management systems, advanced mathematics, economics, statistical modeling software, market research, and trends are some of the skills that are needed.
- Bachelor’s degree and experience in a related area are required.
- Financial Risk Manager Certification (FRM), Financial Modelling Certification, Certified Financial Planner (CFP) and Certified Fund Specialist (CFS) certifications are all useful. So are Certified Government Financial Manager (CGFM) and Certified International Investment Analyst (CIIA) certifications.
2. Help with Personal Finances
Some of the best-paying jobs in finance are personal finance managers. These financial pros help their clients plan how to reach their short- and long-term goals. In many areas, such as investments, insurance, savings, estate planning, retirement, and taxes, personal finance experts help people make sense of their money.
- Salary range: $74,203 to $89,296 per year on average
- Communication with clients, analytical thinking, writing, IT, sales, economics, market study and trends, and planning for retirement are all skills that are needed.
- Bachelor’s degree and experience in a related area are required.
- The Certified Financial Planner (CFP), the Certified Financial Analyst (CFA), the Chartered Financial Consultant (ChFC), and the Certified Public Accountant (CPA) designations are all useful.
3. Analyst of Management
Management analysts make the third most money of all finance jobs for college graduates. These finance workers make the company more efficient by looking at how things are done now and coming up with better ways to do them. Data collection skills and better-than-average speaking skills are needed for the job.
- $54,532 to $74,189 a year is the average income.
- Communication, problem-solving, business structures, stakeholder analysis, cost-benefit analysis, process modeling, SAS, SQL databases, database query languages, and computer languages are some of the skills that are needed.
- A bachelor’s degree in a related area is required, and a Master’s degree in business administration is preferred.
- The Six Sigma Green Belt, the ITIL Information Library Foundations Certification, the Project Management Professional (PMP) certification, the Chartered Financial Analyst (CFA) certification, and the Master Project Manager (MPM) certification are all useful credentials.
4. Analyst of Finances
Financial experts help people and businesses spread their money around and make investments. Analysts of finances keep an eye on economic trends, give customers advice, figure out value, and evaluate financial risks. This is one of the best finance jobs right out of college, but you need to be good at both technical and financial consulting.
- Salary range: $67,403 to $82,103 per year on average
- Accounting, SEC filings, corporate finance, financial modeling, corporate valuation, making prediction models, analytics, IT, insurance, and the ability to talk to people and give presentations are all skills that are needed.
- A bachelor’s degree in accounting or finance and experience in a related field are needed.
- A FINRA license, a Chartered Financial Analyst (CFA) designation, and a master’s degree in accounting are all useful qualifications.
5. Examiner of Finances
As an entry-level job, the financial inspector is one of the best-paying ones, and the job is expected to grow faster than most. They are in charge of managing risk, making sure banks follow the law, and making sure banks have enough cash on hand to deal with unexpected losses and lack of capital.
- $31,000 to $43,101 a year is the average income.
- Federal and state rules, accounting, finance, risk management, reading comprehension, paying close attention to details, writing, and data analytics are some of the skills that are needed.
- A bachelor’s degree in accounting is needed, and a master’s degree is preferred.
- The Accredited Financial Examiner, Certified Financial Examiner, and Automated Examination Specialist qualifications are all useful.
6. Analyst of Budgets
While budget analysts are similar to accountants in some ways, they help businesses and people make budgets by following the rules and laws. Some people or businesses have trouble making budgets, so Budget Analysts are hired to help organize the money and plan how it will be spent in the future.
- $53,690 to $68,490 a year is the average income.
- Strong math skills, knowledge of statistical models and methods, computer skills, knowledge of federal and state rules, Big Data, and machine learning, and the ability to use spreadsheet programs well are all required.
- A bachelor’s degree in a related field is needed, and a master’s degree is possible.
- The Certified Government Financial Manager (CGFM), the Certified Public Accountant (CPA), the Certified Management Accountant (CMA), and the Project Management Professional (PMP) are all useful certifications.
7. Keeping books
Accountants make sure that your tax information is correct, and they can work for people or businesses. Accountants can work for any size accounting firm, for a small, medium, or big business. This is a great job for someone who likes to think logically and solve problems with financial data.
- $53,101 to $64,201 a year is the average income.
- Analytical thinking, generally accepted accounting principles, federal and state rules, talking to other people, balance sheets, tax returns, and accounting software are some of the skills that are needed.
- A Bachelor’s degree in accounting or a course from the Association of Accounting Technicians is needed, and a master’s degree is possible.
- The following qualifications can be useful: Chartered Financial Analyst (CFA), Certified Management Accountant (CMA), Certified Public Accountant (CPA), and Certified Internal Auditor (CIA).
8. Officer of Loans
Loan officers give businesses and people loans and decide whether they are worth the money. A lot of the time, they work for banks, credit unions, or other financial institutions and decide who can get loans. For this job, you need to be able to talk to people and know how the banking business works.
- $40,101 to $59,701 a year is the average income.
- Skills needed include understanding lending goods, banking rules, regulations, and paperwork, as well as math, analytics, people skills, sales, customer service, and making decisions.
- Required skills: a bachelor’s degree in a related area is recommended.
- Four licenses can be very useful: Certified Lender Business Banker (CLBB), Certified Trust and Financial Advisor (CTFA), and Mortgage Loan Originator (MLO).
Top Workplaces Can Help You Find a Job in A Business that You Love.
It’s important to find a job that makes good use of your skills and strengths. It’s important to know what skills are needed for each job opening, but it’s also important to make sure that your skills match the ones on the list. You’ll be able to find a job you’ll love and stay interested if you use your skills.
Check out the Top Workplaces Financial Services Award to find out which finance companies have the best ratings from their workers. You can find a great job by looking into the best finance companies and making a list of the skills you have.
Are you feeling overwhelmed by all the financial groups out there? Here are some more useful links on how to get a job in finance and a list of great firms where you can work in finance.