We live in a globalised commercial world today where all the major industries require an efficient financial department. Since the onset of liberalisation policies, the cost benefit analytical process has been an integral part of the commercial economy. Economies now need proficient individuals in the form of financial advisors, analysts, chartered accountants etc to manage their finances. Some of the best paying jobs in finance are in huge demand today than ever before. These jobs ensure a secure and a prosperous life for the individual and their family. Needless to say Finance is one such domain of work today which offers some of the best paying jobs with reasonable rewards in return.
Top 10 Best Paying Jobs in Finance
Given below is a list of some of the best paying jobs in finance:
- Financial analyst:
Job: Ranking first in the list of best paying jobs in finance is a financial analyst. Financial management decisions are supported by financial analysts’ analysis of data and oversight of the company’s finances. Additionally, they assess the potential results of business and investment recommendations.
- Financial literacy.
- Accounting skills.
- Critical thinking.
- Communication skills
- Degree in commerce or economics background.
Pay scale: As one of the best paying jobs, a financial analyst may earn an average of something around $71,337 per year.
- Financial advisor:
Job: Financial advisers assist their clients in making plans for both their immediate and long-term financial objectives, such as retirement, home ownership, education etc. This best paying job in finance has different roles such as:
- Market research
- Market analysis
- Recruit and solicit clients
- Assess clients’ needs and goals
- Recommend strategies
- Execute strategies
- Minimum of a bachelor’s degree and finance and economics.
- Analytical skills.
- A financial advisor may earn on an average of $89,330.
Also check for Best Paying Jobs in Major Banks
- Investment banker:
Job: Investment bankers are among the best paying jobs in the financial industry. They must be able to comprehend complex financial information and make sound decisions under duress.
Required skills: Investment bankers typically hold a four-year degree in business or economics, as well as an MBA.
Pay scale: As a new hire, you can expect to earn more than $100,000 right out of college.
- Hedge fund managers:
Job: Hedge fund managers oversee portfolios with higher risks and rewards for investors who have the capital to invest in hedge funds. To safeguard investors, these experts also keep an eye on the markets.
Required skills: Bachelor’s degree preferably in Bcom, finance or accounts.
Pay scale: People just starting at a small hedge fund can secure hedge fund salaries of around $70,000 plus bonuses based on their performance for this best paying job.
- Private equity associate:
Job: Equity Analyst associates are employed by brokers or financial institutions to evaluate a company’s stock value and forecast financial outcomes for publicly traded corporations. This best paying job position requires executing deals, monitoring the portfolio of companies, and cracking new deals.
Required skills: Candidates should have a bachelor’s degree in an analytical major like finance, accounting, statistics, mathematics, or economics.
Pay scale: Average pay of 111,069 per year in dollars may be expected.
- Financial software developer
Job: This best paying job in finance for software developers has grown significantly as the finance sector embraces technology and the internet. These workers create, create, test, and maintain software and other programmes in accordance with business and end-user requirements.
Required qualification: Bachelor’s degree in financial development along with programming skills such as Java and C++.
Pay scale: $117,583 may be expected on an average for the role of a financial software developer.
- Chief financial officer:
Job: The Chief Financial Officer, or CFO, is responsible for overseeing a company’s financial structure, cash flow, and growth strategy and is among the top ten list of the best paying jobs in finance. The CFO title is particularly prominent in the retail and commercial banking sector in US.
Required skill: Must have in-depth knowledge of accounting and financial modelling, among other skill sets.
Pay scale: A person working as a Chief Financial Officer in United States typically earns around 194,000 USD per year.
- Management analyst:
Job: These experts investigate the issues a firm is experiencing and identify practical methods to create the finest solution. Additionally, these experts in the highest-paying finance positions evaluate current practices, methods, and systems.
Required skills: Management, accounting, marketing, economics, statistics, computer science or engineering.
Pay scale:$75,051 per year on average (entry level) may be expected from this best paying job in finance.
- Personal financial advisor:
Job: Personal financial advisors offer a wide range of services, including life insurance, estate planning, investments, taxes, retirement planning, and personal budgeting assistance. It is among the highest rewarding jobs in the list of best paying jobs in finance.
Required skill: It would be ideal to have a background in accounting or finance, followed by an MBA or MSc. in Finance.
Pay scale: A personal financial advisor may expect to earn a sum of around $70,411.
- Tax director:
Job: Tax directors in finance manage tax compliance, tax strategies, and tax accounting for financial organisations. These best paying jobs in finance help companies develop tax strategies that include identifying financial moves that can lessen liability while still following the law.
Required skills: This job demands a bachelor’s degree, as well as extensive experience with accounting and taxes.
Pay scale: The professional can expect to earn an ideal sum of $123,000 per year.
Finance is an evergreen field of knowledge, especially in an era of ever expanding commercial and globalised world. Individuals find this attractive to join as specialists in one of these best paying jobs in finance. A good accounting skill and efficient data analytical capability helps develop an edge over other candidates in this profession. A brief review of these best paying jobs in finance would surely assist one to gain knowledge and decide effectively over the choice of profession one needs to pursue in the field of finance.