The finance sector is broad and includes everything from banking and investments to Fintech. Knowing the jobs available in this field can help you choose the one that suits you best. In this post, we explore some of the highest-paying jobs in the finance sector, along with their duties.
Finance jobs can be incredibly lucrative positions for people who have strong mathematical and analytics skills. It is very common to find banks and well-established firms, that hire individuals from academic backgrounds that include computer science, finance, marketing, analytics, and more. If you have received enough training in this sector, it is now time to explore some of the job positions that have the highest compensation packages for you.
Generally, jobs in the finance industry can be lucrative and as such, they are in high demand. For most of these jobs in finance, an undergraduate degree is a must. However, many professionals have post-graduate degrees as well, usually an MBA or other master’s degrees. Advanced skills in statistics and mathematics are prized, especially in highly competitive fields such as finance and banking.
Highest Paying Jobs in the Finance Sector in 2022
Below is a list of the highest-paying jobs in the banking industry:
- Investment manager
- Information technology auditor
- Compliance Analyst
- Financial Advisor
- Insurance Advisor
- Financial Analyst
- Senior Accountant
- Hedge fund manager
- Financial software developer
- portfolio manage
1. Investment manager
A career in Investment Banking relates to the functions of a corporate financial analyst. Their main job is to raise capital to fund the operations of a corporation and businesses. These professionals help clients raise and invest capital in a way intended to help the business achieve its goals. The average pay for an investment manager is $89,967 per year, making it one of the highest-paying fields in the finance sector.
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2. Information Technology Auditor
IT auditors operate in government agencies or private businesses to achieve synchronicity between the technological infrastructure and business requirements and guarantee the seamless operation of all organizational operations.
This position necessitates a working knowledge of business operations and financial procedures in addition to a sufficient grasp of physical IT controls inside the organization. IT auditors are an excellent choice among other financial occupations because of their average yearly income of $101,751.
3. Compliance Analyst
Compliance analysts inspect data, procedures, and financial infrastructure to verify that requirements are followed. These experts ensure that the rules that govern an organization and businesses are followed. With an average yearly income of $114,832, Chief Compliance officers are one of the highest-paying jobs in the financial industry.
4. Financial Advisor
An insurance advisor’s responsibilities also include serving as the client’s main point of contact, being educated about insurance products, and collaborating closely with underwriters and risk assessors. Simply put, these professionals guide clients toward solutions that make sense by assisting them in identifying their short- and long-term financial goals.
They may also be responsible for providing direction to individual customers regarding the purchase of appropriate life, automobile, housing, and other insurance types.
5. Insurance Advisor
Insurance Advisors are among some of the highest-paid experts in the financial sector, with an average annual pay of $89,279. These professionals help customers choose the most acceptable insurance packages to fulfill their long-term and short-term insurance needs. In addition, they help customers make judgments about buying insurance for their homes, cars, health, etc.
6. Financial Analyst
Financial analysts sift through financial data to assist corporate stakeholders in making wise financial decisions. They assist clients’ purchasing decisions and demands by working for financial organizations such as banks, funds, insurance firms, and more. Financial analysts make an average of $126,000 per year, and employment is growing at a 5% pace. This shows that their demand will continue to be on the rise.
7. Senior Accountant
Accountants are responsible for ensuring an individual or company’s tax information is accurate and done properly. These professionals are typically busiest during the tax season, with many working overtime hours closer to the April 15 deadline. Senior accountants are usually at the top of the accounting hierarchy and oversee the day-to-day duties of accounting.
The average annual take-home for a senior accountant is $73,547 per year.
8. Hedge Fund Manager
Similar to investment bankers, hedge fund managers oversee portfolios of higher risk and return for investors who pool their money to participate in hedge funds. Hedge fund managers are up early and work late because they need to watch markets to safeguard investors.
For someone to succeed, they must have a love for stocks and the markets. Hedge fund managers earn an average salary of $83,578 per year, placing them among the highest-paid financial positions.
9. Financial Software Developer
As the finance industry embraces technology and the internet, the demand for software developers has experienced a sharp rise. Financial software developers work in the growing Fintech space, creating programs that meet the needs of financial institutions and end-users. Some examples include mobile payments, stock trading applications, budgeting apps, and cryptocurrencies.
With an average annual salary of $93,817, financial software developers are among the best-paid experts in the financial sector.
10. Portfolio Manage
A portfolio manager offers customers financial guidance and consultation. To maximize profits, they manage stock and bond portfolios, and they frequently provide updates on the performance of their investments. A career in this area of finance necessitates ongoing analysis and study of the financial markets and current events. The annual average salary for portfolio managers is $126,506, making them one of the highest-earning experts in the financial sector.
Other best-paying finance jobs include:
- Private equity associate
- Chief financial officer
- Cooperate Controller,
- Budget analyst
- Credit Analyst
- Tax Director
- Tax Manager
- Foreign Exchange Trader
- Mortgage Originator
- Credit Originator