A finance job might seem boring for many. In fact, it’s not. If you have the right kind of educational qualifications, love math, and can play with figures while spending long hours working alone, this is the right job for you.
You might wonder, where are finance jobs available? Actually, everyone requires someone that can handle finance. It could be a high-net-worth individual or even a couple, a single mom, your neighborhood business, or a large organization.
That’s because finance jobs are all about money. And, big money, to be precise. Therefore, if you’re interested in knowing about the 10 best paying jobs in finance, continue reading. This article is all about such wonderful jobs that pay very well.
Let’s start by understanding the basic requirements for taking some of the 10 best jobs in finance.
Basic Requirements for Finance Jobs
Here’re some basic requirements for most of these 10 best and highest paying jobs in finance. If you have the necessary educational qualifications and sometimes certifications from the proper authority, you can apply for these jobs.
- Degree in Finance, Management, Commerce, Accounting
- A liking for Math and Numbers
- An ability to calculate figures accurately
- Good convincing power
- High emotional intelligence
- An eye for details
Additionally, you might require certifications from specific organizations to work on some of the 10 best paying jobs in finance, as I mentioned earlier.
10 Best Paying Jobs in Finance
Now, let’s move on to see which are the 10 best paying jobs in finance. If you have the qualifications and skills that I mention above, it would be very easy for you to find such a job. A lot of such jobs are available through job boards and LinkedIn.
1. Financial Advisor ( $73K )
A financial advisor is someone who meets people and studies their various financial needs. They advise people on where to invest their money to make it grow.
Some financial advisors work for banks and other financial institutions. Others work as freelancers. However, even freelance financial advisors are in some way, indirectly connected with financial institutions for promoting their investments and insurance plans, among other things.
Other than a college degree, you will require the Certified Personal Planner (CPF) certification from a recognized organization.
2. Fund Manager ( $74K )
A fund manager is someone that handles a Mutual Fund or Exchange Traded Fund (ETF). Their job is to create a basket of stocks for launching a Mutual Fund or ETF. Additionally, they also monitor the upwards and downward trends of stocks to adjust the Mutual Fund or ETF portfolios accordingly.
They also help in creating debt and other kinds of Mutual Funds and ETFs, by studying their prospects and making investments on behalf of the Asset Management Companies where they work. This is a very high-pressure job since it involves other people’s money as well as the funds of the employer.
3. Investment Banker ( $125K )
High net-worth individuals and companies require someone that would handle their money and invest it in the right assets. That’s because they wish to make the money grow, instead of keeping it in an ordinary bank account.
Investment bankers are people that identify the best investment solutions for such individuals and organizations. Additionally, they also manage their part or full portfolio and advise the investor on ups and down as well as prospects in various financial holdings.
This is also a very high-stress job because it involves keeping in touch with the money markets daily and handling someone else’s money.
4. Certified Internal Auditor ( $52K )
All large companies, especially those listed on the stock markets, have to audit their annual statements. This means they have to file their profit, loss, taxation, operation costs, and others to the government or other relevant authorities.
A single error in this complex process, which often involves millions or billions of Dollars, can cause severe harm to the organization, both in terms of reputation and money.
Therefore, they hire certified internal auditors. Their job is to check every single Cent and make an annual financial report for the stakeholders and authorities.
5. Insurance Advisor ( $70K )
Earlier, insurance advisors were also known as insurance agents. However, there’s a major shift in this profession over the last three decades. According to their needs, insurance advisors are well-qualified and highly trained people who suggest various insurance solutions to people.
There’re two types of insurance advisors- one that works on a freelance basis and has agreements with various insurers to promote their plans. The others work for a single insurer and sell only their plans.
Again, you have insurance advisors that you could invite home or at the office for finding the right solutions, while others are available only at their offices.
6. Hedge Fund Manager ( $73K )
Hedge fund managers are also like investment bankers or fund managers. However, they have to work with a more significant threshold of risk and ensure that their investors get the highest possible returns.
Hence, they study all foreign stocks and money markets as soon as they open, which is different than American time. And they sleep late because they have to make various calculations while making very complex decisions.
Though this is an extremely profitable job with high salaries and perks, it is also one of the most stressful among these 10 best paying jobs in finance.
7. Risk Managers ( $98K )
The Bureau of Labor Statistics (BLS) estimates that the demand for risk managers in the USA will rise by at least 18 percent per year till 2028 and possibly, more beyond that.
Risk managers are financial experts are those who check various systems at banks, financial institutions, and large businesses to find if there’re any possibilities of fraud. If they find any, they suggest measures to plug these loopholes.
They also assess the risks of giving large loans to small credits by making proper policies on lending and recovery of the money.
8. Online Bookkeepers ( $35K )
Online bookkeepers are not really new. Yet, this is one of the 10 best jobs in finance following the ongoing Covid-19 pandemic. During the current year 2022, we’re seeing a lot of small businesses and high-net-worth individuals hiring the services of an online bookkeeper.
Basically, online bookkeepers are similar to personal accountants. They maintain accounts of cash inflow and outflow and record every transaction made by their client. Their job is to maintain all accounts and also advise the employer in case of an extra expense under any category.
9. Financial Compliance Officers ( $150K )
A financial compliance officer is also known as a compliance officer. Their tasks involve ensuring that all departments at an organization comply with various standards of performance to achieve low expenses and high profits.
They’re also responsible for ensuring that all departmental budgets are maintained. They oversee the expenses and income of every department and find ways and means of making them profitable, in the longer run.
Also Read: 15+ Amazing 6 Figure Jobs for You
10. Finance Software Developers ( $77K )
As we all would know, nowadays a lot of financial duties such as advising is done with the help of computers. Therefore, persons who can develop useful software for financial purposes will find a superb job in the finance sector.
As a matter of fact, these financial software experts are worth with advisors and others to create what’s now famous as Robo-Advisors. These are low-cost solutions from banks and financial institutions for people that have basic knowledge of investing or can’t afford a personal financial consultant.
Average Salary in Finance Jobs
Generally, the median salary in all finance jobs is said to be $59,162. However, the amount can be much higher for a lot of professions. These salary scales are indicative only.
Actually, finance jobs get you nearly $8,000 or more per year, when we compare over the average median pay in America. This means, you can earn a superb income and have a wonderful lifestyle.
In Conclusion
You can try for any of these top 10 best paying jobs in finance if you have the relevant qualifications and certifications. In fact, some of these jobs also provide freelancing opportunities.