The finance industry is growing fast, with the U.S. Bureau of Labor Statistics projecting that over 800,000 new jobs will be added between 2020 and 2030. With so many options available to those looking for jobs related to finance, it can be difficult to know where to begin.
To simplify this process, we’ve compiled a list of 20 finance roles spanning the entire industry, from entry-level analysts to CFOs. This list provides salary information and job descriptions to help you decide which role is best for you. Whether you’re just starting out or looking for a career change, our guide can provide a comprehensive overview of the options available in the finance industry. So, without any further ado, let’s dive right in!
List Of 20 Popular Careers In Finance
Risk Management Careers In The Finance Industry
Actuary
How much does it pay on average: $125,300
Actuaries are professionals who use statistics, mathematics, and theory to assess risk-related costs. They’re also known as actuarial analysts, providing analysis that helps companies make successful decisions while being prepared for the financial implications of unpredictable disasters.
Underwriter
How much does it pay on average: $79,940
Working in the banking and insurance industries, underwriters are on the mission to assess potential risks associated with loan or insurance applicants. Equipped with all the tools and knowledge, they decide whether those people can achieve approval depending on their risk factor analysis.
Claims Adjuster
How much does it pay on average: $70,960
Claims adjusters are responsible for reviewing insurance claims and determining who should be held liable after an incident. To make this determination, they will interview the people involved in the claim and any witnesses and inspect the damage if necessary. Then, they use this information to decide which party or parties (if any) should pay a certain amount for the claim.
Insurance Agent, Broker, or Adviser
How much does it pay on average: $69,340
Insurance agents or brokers are experienced sales representatives specializing in helping people choose the right insurance products for their needs. They typically work on behalf of numerous insurance companies, offering an array of life, auto, and homeowners policies.
On the other hand, insurance advisers are more focused on providing financial advice rather than selling products. Working as a part of a larger financial planning team, they provide insight into investments, estate planning, and other services to ensure their clients have the best coverage for their particular goals. In both cases, the goal is to help customers make informed decisions that meet their financial and coverage needs.
Tax Financial And Accounting Careers In The Finance Industry
Chief Financial Officer
How much does it pay on average: $213,020
CFOs, short for Chief Financial Officers, are the highest-ranking individuals in a company when it comes to finances. They have two primary roles- managing all financial activities within the organization and overseeing its accounting team, as well as providing advice to all C-suite executives.
Auditors And Accountants
How much does it pay on average: $83,980
Accountants and auditors are responsible for examining a company’s financial records and preparing financial documents. Depending on the organization, there may be different job titles, such as junior accountant, senior accountant, tax accountant, and auditor. Here’s a brief description of each role:
Junior accountants are usually responsible for preparing reports and balancing accounts. The next step up, senior accountants act as the supervisors of junior accountants and help assess a company’s financial health. They require a CPA license or master’s degree.
Tax accountants are responsible for preparing client tax documents and ensuring that all taxes comply with state, local, and federal regulations. Their duties also involve preparing tax reports, resolving any issues or errors found in filings, and looking for ways to save money legally.
Finally, auditors focus on tracking accounts to ensure accurate recording and also prepare financial statements, like audits and balance sheets. They must also ensure that all operations and documentation meet financial and legal regulatory standards.
Budget Analyst
How much does it pay on average: $213,020
Budget analysts are the masterminds behind a company’s financial well-being. They ensure that funds are being utilized as efficiently as possible and records of all transactions remain up-to-date for scrutiny. Additionally, they scout out new ways to optimize budget allocation according to changing needs and regulations so businesses can maximize their profits.
Financial Analyst
How much does it pay on average: $103,020
The role of financial analysts is to examine and interpret financial statements, estimate the company’s future performance, compare current financial situations to initial plans, and create reports that ensure the company remains aligned with its strategy in accordance with market conditions. In this way, they’re integral for keeping businesses on track financially.
Financial Manager And Controller
How much does it pay on average: $153,460
A financial manager is a professional who deals with the planning and management of an organization’s financial resources. They can be found in many different sectors, including banks, investment firms, and insurance companies. Their role involves creating financial reports, developing long-term financial plans, and ensuring the company remains in good overall financial health.
A financial controller or comptroller, on the other hand, is the highest-ranking position on an accounting team outside of the CFO. They oversee all accounting activities and ensure the company’s finances stay in good shape.
Financial Technology (FinTech) Careers In The Finance Industry
Cybersecurity Specialist
How much does it pay on average: $113,270
These professionals are also called information security analysts. Their job is to protect companies from malicious software, hackers, and viruses. Additionally, they focus on data encryption so customers feel more secure while accessing their financial information through digital technology. By doing this, cybersecurity specialists help FinTech businesses provide a safe environment for their customers.
Data Scientist
How much does it pay on average: $108,660
Responsible for uncovering meaningful insights from data sets and communicating their findings, data scientists play a key role in many industries. In the finance industry, for example, data scientists are important for making predictions based on data, detecting fraud, identifying trends, and creating programs to better meet customer needs. Data scientists must stay abreast of the latest technological developments to ensure their analyses are up-to-date and accurate.
Financial Software Developer
How much does it pay on average: $120,990
Financial software developers are the driving force behind some of the most innovative and integral products used by banks, governments, and other financial institutions. From applications that make transactions secure to educational tools for investors – they create programs with cutting-edge technology like blockchain, which is revolutionizing digital security measures across finance companies worldwide. Specialized devs in this field also ensure the utmost safety as they design apps and interfaces using blockchain tech, protecting data from potential threats.
Quantitative Analyst
How much does it pay on average: $103,020
These skilled professionals apply statistical methods to reduce financial risks and optimize the value of assets. They create effective tools for companies to analyze investment opportunities and develop strategies to produce maximum benefit with minimal risk – a critical component of successful investments!
Compliance Expert
How much does it pay on average: $96,180
Compliance experts are highly valued in the finance industry, particularly in FinTech. As digital transactions require strict adherence to local, state, and federal laws and regulations, a compliance expert must ensure that all financial activities comply with such legal requirements. Financial examiners and regulatory compliance specialists are just some of the titles given to these professionals, who are essential for the success of FinTech companies.
Advising Financial Careers In The Finance Industry
Portfolio Manager
How much does it pay on average: $153,460
Similar to financial advisers, these experts are responsible for finding the right investments to create and maintain a profitable investment portfolio for their clients. They track trends, analyze the markets, and provide guidance on making sound financial decisions. Additionally, portfolio managers help clients understand global economic conditions and how they may affect their investments. In doing so, they strive to maximize returns while minimizing risk.
Financial Advisers
How much does it pay on average: $119,960
Also known as a financial consultant or planner, a financial adviser is an expert in personal, public, and corporate industries.
Financial advisers provide invaluable guidance to help clients maximize their financial resources. From understanding available services and tools for wealth management to advising on how best to meet stated goals depending on individual circumstances – these professionals empower people with personalized insight into smart money decisions.
Personal finance advisers help people make smart decisions with their money, assisting them to reach financial goals such as investing, setting up college funds for children or grandchildren, maximizing tax savings, and making estate plans. They provide specialized support that can aid individuals in creating a secure financial future.
CRPC, or Chartered Retirement Planning Counselors, are financial advisors who focus on helping their clients plan for retirement. It is both a job title and certification awarded to individuals with expertise in this area. They collaborate with their clients to develop a strategy that fits their lifestyle and monetary means.
RIAs, or Registered Investment Advisers, must be registered with the Securities and Exchange Commission. They guide clients in terms of investment decisions by assessing their needs and goals, as well as analyzing prevailing market conditions.
Investing Careers in The Finance Industry
Venture Capitalists (VCs)
How much does it pay on average: $92,228 – $353,321
VCs provide a valuable service to both entrepreneurs and investors, helping them make well-informed decisions with their capital. These professionals take the time to analyze potential business opportunities to find those with high growth and profit potentials – while balancing risk against reward. They also act as investors and provide capital to help start-up businesses get off the ground and assist with expanding their reach.
Investment Banker
How much does it pay on average: $103,020
They are the financial masterminds managing and planning portfolios for businesses and public sector organizations. Investment bankers help ensure their clients’ capital is invested with strategies to meet or even exceed all their financial growth targets.
Stockbroker or Securities Trader
How much does it pay on average: $93,260
Stockbrokers are intermediaries for customers who want to purchase and sell investments such as stock options, stocks, or bonds. Sometimes, a stockbroker may also provide financial advice and asset management services.
Securities traders do a similar job to stockbrokers by searching for, acquiring, and selling securities. However, traders usually use their own company’s assets to perform these trades. Moreover, traders usually work for expansive investment management companies or banking institutions and execute trades based on the instructions of a portfolio manager.
Financial Law Careers In The Finance Industry
Financial Lawyer
How much does it pay on average: $148,030
Financial lawyers have an array of specialties they can pursue, including tax law, debt finance, trade finance, and more. For those in the financial sector, general counsels are often sought out for their expertise in mergers and acquisitions or securities trading. Furthermore, with the increasing popularity of FinTech, legal professionals experienced in cryptocurrency compliance law and virtual asset regulation are highly sought after. Therefore, for those interested in a career as a financial lawyer, there is much potential to specialize and gain great employment opportunities.
The Bottom Line
A finance career is an exciting way to make a difference in people’s lives. By helping them reach their financial goals, you can provide job security and financial stability for yourself. Plus, there are plenty of opportunities for growth within the industry. So don’t wait any longer- start down the path to your finance career today!
FAQs
Why should you study finance?
Studying finance is a smart investment in your future. Whether you dream of owning your own business or want to work in finance or economics, a solid understanding of finance is essential. Besides, a finance degree can lead to exciting career opportunities in fields such as investment management and financial consulting.
Is there a good career in finance?
Interested in numbers and business? Then finance could be the perfect career for you! This competitive field is an active part of today’s economy, always providing opportunities to those with an eye for success. With hard work and dedication, it can become highly rewarding too; many financial professionals enjoy lucrative salaries being rewarded for their expertise.