Career Advice

What are the highest-paying career paths in banking and finance?

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Are you excellent with mathematics and numbers however you aren’t positive what degree or career path to pursue? A career in finance or accounting will match your strengths and keenness with a valuable degree and a steady job outlook.

Finance and accounting careers have low unemployment rates and open roles are usually expected to rise at a rate quicker than other typical occupations. In fact, business and financial careers have been projected to grow 5 % on average by 2029, adding 476,200 new jobs to the sector. 

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The best way to secure an entry-level finance job is with a related bachelor’s degree, like a bachelor’s degree in Finance or Accounting. There are entry-level accounting jobs that don’t need a degree, however, earning a bachelor’s offers you a competitive edge—and a better salary. Read on to find out additional information regarding the abilities employers are searching for in their candidates, and also the high-paying jobs you will be qualified for. 

Skills required for Finance and Accounting Jobs

Success in finance positions needs a combination of specific abilities. Candidates should understand accounting principles as well as the foundations of economic management. Professionals should additionally demonstrate a commitment to continuous learning so as to keep their skills relevant and stay alert to dynamic banking technology trends. the foremost qualified candidates even have sturdy social and communications skills. several finance-related positions need professionals to be versatile in their communication to make hard-to-understand jargon accessible to purchasers while additionally having the ability to discuss complicated financial reports with others.

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Top Entry-Level Finance Jobs for 2021

A degree in finance or accounting will unlock several promising career choices after graduation. In fact, a Bachelor of Science in Finance was one of the highest twenty-five degrees for a profitable career in 2021. Here are eight of the highest-paying entry-level finance jobs.

Financial Manager

A financial manager is the professional responsible for a company’s financial health. Professionals in this career path create financial reports and strategies for the long-term goals and growth of an organization. Anyone who wants to become a financial manager will have a great chance at finding a job as the career is in high demand, with over 23,000 people hired from the aspiring professional pool each month.

  • Job Outlook: 15% growth
  • Average Annual Salary: $129,890

Personal Finance Advisor

Personal financial advisors function in a wide variety of specialties, from life insurance, investments, taxes, college savings, estate planning, and retirement to personal budgeting help. To land an entry-level position as a personal finance advisor, you’d require a bachelor’s degree in finance or accounting and a master’s in finance or an MBA for higher positions.

  • Job Outlook: 4% growth
  • Average Annual Salary: $87,850

Management Analyst

Management Analyst also known as management consultants, a management analyst’s main duty is to raise a company’s efficiency. Professional in this role determines a company’s ineffective procedures and develop solutions for improvement. A bachelor’s in finance is the minimum requirement, and a CMC certification is an added advantage.

  • Job Outlook: 11% growth
  • Average Annual Salary: $85,260

Financial Analyst

Financial analysts stay up to date with economic trends to enable them effectively advise clients and businesses on how the best way to invest and diversify their money. Financial analysts are also responsible for determining a company’s value and assess financial risks and prospects.

  • Job Outlook: 5% growth
  • Average Annual Salary: $81,590

Financial Examiner

Financial examiners are responsible for keeping financial institutions, like banks, legally compliant. They make sure that financial institutions are obeying all rules and regulations in all of their operations and transactions. They also are responsible for managing risk, ensuring financial institutions offer safe loans, and that banks have enough cash reserved to manage unexpected losses.

  • Job Outlook: 7% growth
  • Average Annual Salary: $81,090

Budget Analyst

Budget analysts assist public and private institutions, such as government agencies and universities, to organize their finances. Budget analysts are responsible for ensuring that the budget for proposals is accurate and obeys all laws and regulations.

  • Job Outlook: 3% growth
  • Average Annual Salary: $76,540

Accountant

An accountant is responsible for making sure that an individual or a company’s tax information is correct and done properly. Accountants are basically busiest during the tax season, and it is normal for individuals in this field to work many overtime hours closer to the April 15 deadline.

  • Job Outlook: 4% growth
  • Average Annual Salary: $71,550

Loan Officer

Loan officers are responsible for using a process called underwriting to evaluate and authorize loan approval for individuals or businesses. In this type of job pay can vary visibly depending on the division you work. Most people who become loan officers earn several thousand dollars more every year from bonuses or commissions.

  • Job Outlook: 3% growth
  • Average Annual Salary: $63,270

Finance Jobs Continue to Grow

Finance and accounting jobs have been a celebrated choice for lots of years, and the industry continues to grow at a significant rate.
As globalization and financial technology expand and evolve, the demand for experts within the financial profession will remain steady. While many finance companies, such as banks and investment firms, employs individuals with the aforementioned job titles, companies across all industries also needs qualified finance professionals.

Earning a degree in finance and accounting can be your ticket to a pleasant and rewarding career in the world of finance, investing, and business.
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