Finance is a fantastic degree option that provides challenging work in a variety of industries. Finance careers are generally well-paying, with bonuses and commissions for some finance professionals reaching into the tens of thousands of dollars. Furthermore, a job in finance frequently provides variety in your day-to-day responsibilities.
If you’re a student or recent graduate, your financial knowledge will help you get hired in these fields. This article will go over the jobs you can get after getting your finance degree.
Key Takeaways
● The financial sector is made up of companies that provide financial services to consumers, businesses, and governments.
● The majority of finance jobs require a four-year or advanced degree, particularly in business, math, economics, or statistics.
● Investment banker, actuary, portfolio manager, quantitative analyst, and securities trader are among the highest-paying finance jobs.
Types of Careers in Finance
There are numerous finance careers available. Among them are the following:
● Investment banker
● Investment manager
● Investor relations manager
● Venture capitalist
● Bank manager
● Budget analyst
● Business banker
● Chief financial officer
● Chief investment officer
● Controller
● Insurance agent
● Financial analyst
● Financial examiner
● Financial planner
● Insurance underwriter
● Hedge fund manager
● Loan officer
● Real estate agent
● Stockbroker
● Tax examiner
● Treasurer
These positions typically fall into one of seven categories: asset management, commercial banking, corporate finance, insurance, investment banking, personal financial planning, or real estate.
Typically, a bachelor’s degree in finance is required to enter this career field. A master’s degree in finance or an MBA may be required to advance in the finance industry.
Other entry-level finance jobs include:
● Budget analyst
● Bank teller
● Actuary
● Payroll clerk
● Credit analyst
● Financial analyst
● Insurance underwriter
● Insurance claims adjuster
● Compensation and benefits specialist
● Personal financial adviser
● Personal banker
● Tax associate
Even entry-level positions in the finance sector pay more than the median salary. You don’t need an Ivy League education to work in finance, but an undergraduate degree is required at the very least, and economics or math majors are preferred.
Jobs You Can Get with a Finance Degree
The financial industry provides a wide range of career opportunities that go beyond simply managing money. Here are some options to consider as you look into finance-related careers.
1. Financial Analyst
Being a financial analyst is a prestigious and important job. Analysts at financial firms are typically in charge of researching potential investments and providing opinions and recommendations to traders and portfolio managers. Financial analysts also work in non-bank corporations, where they analyze the company’s financial position and help to develop budgetary plans.
To be a financial analyst, you must have strong analytical, math, and communication skills, as well as the ability to work under pressure. You’ll need a four-year degree in finance or a related field, as well as a CFA certification or other FINRA license and, most likely, an MBA.
● Financial analyst average salary: $72,303
2. Financial Planner
Finance majors learn about various investment vehicles, which can assist financial planners in advising clients on how to manage their finances. Finance majors can interpret market trends and apply this knowledge to their planning sessions.
To create plans suitable for individual investors, financial planners must crunch numbers and apply accounting principles. They must also gain people’s trust and promote their services. As a result, finance majors with strong interpersonal skills and persuasive abilities are more likely to succeed in this field.
● Financial planner average salary: $87,850
3. Financial Managers
A financial manager is primarily responsible for cash management strategies and the direction of company investments in order to achieve the organization’s strategic and economic goals. As a financial manager, you will regularly direct the preparation of financial reports in accordance with company and industry standards. You’ll also use your research and analytical skills to identify future opportunities for growth. Your work should produce optimal company resources and strong financial performance.
Financial managers must understand financial statements, prepare budgets, and analyze budget variances. Financial managers must have strong written and verbal communication skills because they must present and defend capital investment initiatives to company board members, executives, and colleagues on a regular basis. Financial managers are required in all industries.
● Financial manager average salary: $127,990
4. Budget Analyst
A budget analyst’s typical role is to analyze budgets and assess the financial feasibility of existing and proposed investments. Budget analysts use their financial training to examine various projects from a financial standpoint in sectors such as business, government, education, and not-for-profit. These professionals also use their expertise to train employees in order to keep various projects within budget. After obtaining a bachelor’s degree, you will be qualified for this position.
As a budget analyst, you’ll be able to work in a variety of industries, including information technology, engineering services, defense, and education. If you work in the private sector, you will assist businesses in saving money and increasing profits through data analysis initiatives. As a budget analyst in the public sector, you will optimize budgets to improve program performance. The duties of a budget analyst typically vary with experience. Seasoned budget analysts in corporations provide reports to C-suite executives, whereas their counterparts in government frequently present financial data to legislators.
● Budget analyst average salary: $80,789
5. Commercial Banker
In recent years, the commercial banking industry has undergone significant changes, adopting digital technologies to improve their services while evolving to accommodate new players in fintech. Commercial bankers, on the other hand, continue to play an important role in communities. Commercial bankers play an active role in the economic health of their communities as gatekeepers to financial products such as business loans and mortgages.
You will work directly with customers as a banking relationship manager, loan officer, or development officer to assess their financial situation and offer them appropriate financial products. If you’re curious about how finance affects the lives of people around you, commercial banking is still a relevant and important part of the finance world.
● Commercial banker average salary: $63,996
6. Actuary
Actuaries use math, statistics, and financial theory to assess the monetary consequences of risk. These professionals collect, compile, and analyze data in order to estimate the likelihood and likely costs of events such as injury, sickness, disability, death, and property loss. According to the Society of Actuaries, “Actuaries are experts in evaluating the likelihood of future events—using numbers, not crystal balls.”
Actuaries work for risk-management organizations such as insurance companies (the most common employer), pension plans, banks, investment firms, accounting firms, consulting firms, governments, and hospitals. Their advice and expertise are critical in assisting these organizations in managing their assets to minimize risk and maximize returns.
● Actuary’s average salary: $108,350
7. Chief Financial Officer
A company’s profits and deficits are tracked by a chief financial officer (CFO), who then develops a strategy to keep the company financially successful. A chief financial officer’s managerial skills are important because they frequently supervise a team of employees.
Chief financial officers monitor a company’s financial transactions and provide advice when new decisions are made. These professionals must also be well-versed in local financial laws, as they must ensure that the organization follows IRS guidelines.
● Chief financial officer average salary: $128,468
8. Accountants and Auditors
Accountants and auditors ensure that an organization’s finances are correct and in accordance with applicable laws and regulations. An accountant may also prepare financial statements or file tax returns. Accountants and auditors can work in-house for a company or for an accounting firm that provides services to clients on a contract basis.
Accountants are needed in almost every industry, including health care, government, and entertainment. Accounting should remain a stable career choice despite factors such as the economy or technological change upending some sectors.
Auditors play an important role in the finance industry because they investigate the accuracy of data provided on records. Auditors work for corporations, governments, or as independent contractors. Because an auditor is usually the last checker of financial data, this job comes with significant responsibilities. With a bachelor’s degree in finance, you can work as an auditor.
● Accountant’s average salary: $71,550
● Auditor’s average salary: $68,724
9. Securities Trader
Securities traders work in a variety of settings, including commercial banks, investment banks, asset management firms, hedge funds, and others. Traders buy and sell securities on behalf of the firm’s assets wherever they work. Traders work in a variety of markets (for example, stocks, commodities, or cryptocurrency) and may specialize in a specific asset class or investment.
It used to be possible to advance as a trader without a college degree. While the career path is still somewhat less defined than, say, investment banking, most traders have a strong university background in a finance-related field, and many have advanced degrees in statistics, mathematics, or related fields.
Traders who perform well are typically rewarded with increased capital. It is not uncommon for top traders to form their own hedge funds.
● Securities trader average salary: $72,612
10. Portfolio Manager
A portfolio manager is a financial management professional who manages investment portfolios for their clients. They discuss various strategies and overall performance with their clients and collaborate with a team of financial analysts to determine the strategy for their clients’ specific portfolios.
Portfolio managers frequently begin as financial analysts, and many have a master’s degree in business administration or finance, though this is not required for the position. In short, they do a lot of work with exchange-traded, mutual, or closed-end funds.
● Portfolio manager average salary: $88,035
Why Get a Finance Degree?
A finance degree will prepare you for a career in money management by providing you with an understanding of accounting, statistics, and economics. Finance is an essential component of almost any public or private sector organization, making the field versatile and consistently in demand across a wide range of industries.
Finance studies can lead to lucrative financial careers, but that isn’t the only attraction. Banks can provide critical loans to small business owners, financial planners can help young families save for college, and smart investing allows people to retire without worry. Finance can be a powerful force for innovation, prosperity, and social benefit in the right hands.
Final Thoughts
All of these jobs necessitate a finance degree, typically a bachelor’s degree in finance, accounting, economics, business, or a related field. Short courses, in addition to appropriate work experience, may be required to improve your employability prospects. Furthermore, spend some time polishing your professional resume and cover letter for finance jobs that interest you. Make a point of emphasizing the skills and experience that distinguish you as a candidate.
