The pay for finance jobs can vary significantly depending on the specific job title, the level of experience and education required, the size and location of the employer, and other factors. According to data from the U.S. Bureau of Labor Statistics (BLS), the median annual wage for finance jobs was $69,850 as of May 2020. However, some finance jobs can pay significantly more or less than this amount.
For example, the BLS reports that the median annual wage for personal financial advisors, a type of finance job, was $89,160 as of May 2020, while the median annual wage for credit counselors, another type of finance job, was $45,950. Other finance jobs, such as financial analysts and financial managers, had median annual wages of $85,660 and $129,890, respectively.
It’s worth noting that these figures represent median wages, which means that half of workers in these occupations earned more than the amount listed, while half earned less. The highest-paid 10% of workers in these occupations earned more than the amounts listed, while the lowest-paid 10% earned less.
What finance jobs pay the most
There are several finance jobs that are known to be high-paying. Here are a few examples:
- Investment banker – Investment bankers work with companies and organizations to raise capital by underwriting and issuing securities. They also advise clients on mergers and acquisitions, and provide other financial services. Investment banking is a high-stress, high-paying job that typically requires a strong background in finance and business.
- Hedge fund manager – Hedge fund managers oversee portfolios of investments for clients and aim to generate high returns, often through aggressive and risky strategies. These managers typically have a strong background in finance and a deep understanding of financial markets.
- Private equity manager – Private equity managers invest in companies, often by purchasing a controlling stake in the company and making changes to improve its operations and profitability. Private equity managers typically have a background in finance, business, or economics, and may also have an MBA.
- Chief financial officer (CFO) – CFOs are responsible for the financial operations of a company, including budgeting, forecasting, and financial reporting. They may also be involved in strategic decision-making and risk management. CFOs typically have a strong background in finance, accounting, or economics, and may also have an MBA.
It’s worth noting that the specific salary for a given finance job can vary widely depending on factors such as the industry, the company, the location, and the individual’s level of education and experience.
