Finance is one of the most challenging professions that require you to have solid analytical and mathematical skills. You need to have a good understanding of current trends and practices of the financial landscape. It gives you an idea about the requirements of modern-day financing, so you can enhance your skillset accordingly. To attain a top finance position as per your area of interest, you have to be good with numbers. You need to develop a finance mindset that will help you accomplish your career goals.
The evolution of fintech has made a huge impact on the way businesses manage their finances. So, companies require finance professionals who have a solid grasp of the latest technological advancements. Another important thing is to analyze your skills to give you the right direction to follow and reach your desired position. All companies need finance professionals covering different scopes in this field, and these different positions offer plenty of perks. So now, let us explore some high-paying finance jobs you can consider.
As a financial analyst, you take care of the company’s finances and relevant data to help in financial and investment decisions. This position mostly focuses on the evaluation of possible business outcomes. The average annual salary of a financial analyst is $127,990.
So, you have to boost your financial acumen to become eligible for this position. You should consider earning a relevant certification such as CFA (Chartered Financial Analyst). It will help you gain the in-depth knowledge required for the financial analyst position.
For convenience and flexibility, there are virtual education platforms to prepare for the CFA exam. You can consider Wiley CFA to help you in preparation from any part of the world at your convenience. It will increase your professional worth as a financial analyst and help you get a job with a high pay scale. Apart from financial knowledge, you also need good communication and critical thinking skills to make decisions by assessing different situations.
Investment bankers manage other people’s money and deal with savings. While working in this position, you also help people prevent monetary losses. As you deal with more risks in the job, you will receive a larger paycheck. Top leaders of the public and corporate sector rely heavily on investment bankers as they need assistance with bonds and stocks as per exchange commission rules.
Being an investment banker, you will also be responsible for building derivative markets in stocks and bonds. Also, you should know that investment bankers are one the highest-paid finance professionals. So, if you want to build a career in the banking sector, you should consider this position. The average annual salary of investment bankers is $100,000. These professionals also work with insurance companies, asset managers, and investors.
Chief Financial Officer
The CFO (Chief Financial Officer) has to manage the capital structure of a company. From cash flow to future growth plans, they have to keep an eye on different financial aspects. You need to have good finance modeling and accounting knowledge to qualify for this position.
The CFO is one of the highest-paying finance positions, with an average annual salary of $393,377. But as you know that the most rewarding jobs also require your best efforts. So, as the CFO, you have to lead the finance teams, monitor the analysts’ work, and create strategies for the technology infrastructure and overall cost.
Financial advisors are supposed to guide clients regarding their long and short-term financial goals. You have to be knowledgeable about the current financial practices, insurance products, risks, and other profitable products. This will help you to provide reliable financial advice to people to invest their money wisely. As a financial advisor, you will be working with the people in risk assessment. The average annual salary of the financial advisor is $99,949.
Private Equity Associate
Finance firms and brokers hire equity associates to make future financial predictions and assess the company’s stock value. As a private equity associate, you have to use qualitative and numerical methods to analyze the company’s records, financial data, and other relevant information resources.
While working on this high-paying job, you have to keep track of the company’s portfolio, while you crack and execute new deals. The average annual salary of the private equity associate is $111,069. These professionals have to create good financial models that help the company gain cutting-edge over competitors. To do that, they gather relevant data from similar business markets where competitors are also operating.
Hedge Fund Manager
Being a hedge fund manager, you are responsible for managing the higher reward and risk portfolios for investors. These investors have to make money by making the right investments in hedge funds. Also, hedge fund managers have to keep an eye on the market to protect the stake of investors.
Hedge funds can be riskier than a normal fund, so professionals working in this position have to make smart and accurate financial calls. But as mentioned above, with more risk, you will get more rewards in the finance sector. The average annual salary of the hedge fund manager is around $102,000 to $105,000.
Budget analysts have to help private and public institutions to keep their budgets and finance organized. You have to be good with numbers to become eligible for a budget analyst position. These professionals also have to ensure that the budget proposal provided to clients is accurate and compliant with state laws. The average annual salary of the budget analyst is $76,540.
As a tax director, you have to create the tax strategies, manage tax compliance, and tax accounting for finance firms. Also, you need to have a relevant and high-level degree with good experience in accounting and taxes to qualify for this position. Since all companies need finance professionals who can keep them away from tax issues, there is a massive demand for this position with an average annual salary of $123,000.
Finance is one of the vital components of all businesses. Therefore, companies need individuals who can help them achieve maximum results by creating smart financial strategies. Hence, you can earn a great amount of money and fulfill your career dreams by stepping into the finance field. But first, you have to decide which of the positions we’ve mentioned, would be the right fit for you as per your skills and passion.