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More about finance jobs
Finance jobs essentially involve managing money for a corporation, bank, company, or even government. An undergraduate degree is essential, but MBAs are the most prized qualification for most finance jobs. In addition, financial industries such as stock exchange, bank, and hedge funds look for advanced mathematical skills in candidates. Those with the required qualifications and skills can work in various industries as financial managers, accounts managers, traders, and similar profiles. According to one estimate, there will be about 750,800 new business and financial jobs every year between 2020 and 2030.Best High-Paying Finance Jobs
Finance jobs are available in almost every sector, but some occupations earn more than other financial roles. Some of those high-paying finance jobs are:
- Portfolio Manager: The Portfolio Manager is responsible for managing a company's or an individual's investment portfolio of stocks, bonds, and other assets. This finance job includes market research, fundamental analysis, valuation, portfolio rebalancing, risk management, and tax strategies. Many portfolio managers often specialize in the particular asset class (government bonds, startups, and so on) and possess higher degrees such as MBA or CFA certification.
- M&A Specialist: The Mergers and Acquisitions (M&A) specialist are responsible for identifying and executing acquisition opportunities. The specialist partners with the company's CFO, general counsel, and other department heads to identify acquisition targets in various industries, including manufacturing, software development, consumer products, and services. Most professionals working in M&A possess an MBA and have solid experience dealing with different financial products.
- Accountant: An Accountant's main job is to manage the day-to-day financial dealings of the company. The daily finance job could include accounting, financial planning, budgeting, forecasting, general ledger accounting, and financial reporting. The accountant is also responsible for setting up budgets and forecasts for the company. Although a bachelor's degree in finance may be enough for an entry-level position, many high-earning accountants are Certified Public Accountants.
- Actuary: The Actuary is responsible for performing actuarial studies and performing related functions supporting the company's financial and risk management needs. The Actuary performs calculations and analyzes data to assess the company's financial soundness and its business units or to support decisions on staffing, pricing, or other matters. A bachelor's degree in math, statistics, or actuarial science is a good choice for those who want to become an actuary.
- Financial Analyst: A Financial Analyst gathers and analyzes data to provide operational and financial insights. This financial job can include producing various reports, such as financial statements, forecasts, and valuations. In addition, analysts typically research investments and recommend market trends to help guide financial managers and senior executives.
In addition to these finance jobs, economists, hedge fund managers, and underwriters are also high-paying jobs.Average Salary of Finance Jobs
According to Investopedia, Stock trader, investment banker, economist, and financial analyst are six of the highest-paying financial positions across the finance industry. Here is the average salary of these financial jobs, according to BLS:
- The average salary of an accountant/auditor is $73,560. Those with extensive experience earn about $128,680 a year on average.
- Financial analysts earn approximately $83000 on average. However, entry-level analysts have less than $49000 yearly salary.
- The median annual salary of an actuary professional is $111,030, whereas the top ten percent earns more than $196,010.
- The average annual salary of an economist is $108,350. The starting salary of economists ranges between $50000 and $60000.
Those with appropriate educational qualifications and mathematical skills can find a finance job in various industries. However, the qualification and skill requirements can vary depending on the job profile and type of industry.Educational Qualification:
- A bachelor's degree in finance, accounting, economics, and mathematics is the minimum educational requirement to pursue a career in the financial industry.
- Those looking for a more rewarding finance job can choose a certification like Certified Public Accountant (CPA) or complete MBA to boost their career prospect.
- Critical Thinking and Data Analytics Skills
Finance jobs often involve making sense of a large amount of data. So data interpretation skills and finding investment opportunities are almost necessary to become a successful portfolio manager or financial analyst.
- Detail Oriented and Communication Skills
Most finance jobs require putting investment proposals and recommendations to a client. To successfully perform this role, one needs to have a detail-oriented mindset and practical communication skills.
- Mathematical Skills
Financial analysts and investment managers use math and statistics to access, forecast, and find investment opportunities.
Besides these in-demand skills, computer skills, decision-making skills, and organizational skills are necessary to perform daily financial jobs.Finance Jobs Interview Tips
A finance job interview can be intimidating for anyone, including experienced professionals. Here are some interview strategies to help you feel confident and poised.
- Research the company
Browse through the employer's website to know about the company's financial products, clients, vision, and mission to answer questions like "why do you want to join us?"
- Show your ability to translate data into insights
Employers can ask you questions about analyzing data and the company's numbers. So be prepared to answer these questions from your experience.
- Brush up your computer skills
Excel and spreadsheets are the bread and butter of a finance professional. So revise your computer skills to remain confident during the interview.
Pro-tip: Some recruiters may try to make you nervous during the process, so keep a cool mind and enter the dialogue calmly. Be sure to do your homework, keep up with financial news, and revise the basic economic concepts.