What do finance jobs pay?

Finance is a field that offers a vast array of career opportunities, from investment banking to financial planning, accounting to risk management, and beyond.

With the ever-evolving global economy and the intricate nature of financial markets, finance jobs continue to be in high demand.

According to the U.S. Bureau of Labor Statistics, between 2021 and 2031, there is a projected overall growth of 7% in job opportunities in the business and financial industries while the average salary for professionals working under these categories is $76,570 per annum.

And understanding finance job salaries is not just about satisfying curiosity; it's a crucial aspect of planning your career and financial future.

Whether you're just starting your journey in finance or looking to advance to senior-level positions, knowledge of salary ranges and factors influencing pay is essential.

In this guide, we will explore the salaries of various finance roles, from entry-level to executive positions, and unravel the various factors that shape finance job salaries.

Here’s what’s in store:

Why Finance is a Good Career

Finance is a field that offers numerous compelling reasons why it is a good career choice for many individuals.

Here are some key factors that make finance a highly attractive and rewarding profession:

  • Strong Career Opportunities: Finance offers a wide range of career paths and job opportunities across various sectors. From investment banking and financial planning to risk management and corporate finance, there is a diverse array of roles to suit different interests and skill sets.

  • Lucrative Salary Potential: Finance professionals tend to enjoy competitive salaries and potential for financial growth. As you gain experience and expertise, your earning potential typically increases, making finance an appealing field for those seeking financial stability and a comfortable lifestyle.

  • Intellectual Stimulation: Finance is a dynamic and intellectually stimulating field. It requires analytical thinking, problem-solving skills, and the ability to understand complex financial concepts. The constant evolution of financial markets and the challenges associated with managing money and investments ensure that you are continuously learning and growing.

  • Global Relevance: Finance is a global profession that transcends borders and industries. Understanding financial principles and practices opens up opportunities for international work and collaboration. This global relevance also provides the chance to work with diverse teams and contribute to worldwide economic growth and stability.

Overall, a career in finance provides a combination of financial rewards, intellectual stimulation, global relevance, and the chance to contribute meaningfully to the world of business and finance.

Also Read: How to get jobs in Capital One?

Which Finance Jobs Pay the Most?

In the field of finance, there are several high-paying jobs that offer lucrative salary potential.

However, the salaries in finance can vary widely depending on factors such as job title, level of seniority, industry, location, and educational qualifications.

Here are some of highest paying jobs in finance:

Investment Banker

Investment bankers work on complex financial transactions, such as mergers and acquisitions, and assist clients with raising capital.

Due to the demanding nature of the job and the level of expertise required, investment bankers often earn high salaries, with bonuses playing a significant role in their overall compensation.

Average Salary: $314,901

Also Read: How to make a stellar investment banking resume in 2023?

Chief Financial Officer (CFO):

As the highest-ranking financial executive in an organization, CFOs oversee financial operations, make strategic decisions, and manage financial risks.

CFOs are responsible for the financial health of the company, and their extensive knowledge and expertise command substantial salaries.

Average Salary: $429,400

Also Read: What are some great resume bullets that you can use in a CFO resume?

Hedge Fund Manager

Hedge fund managers are responsible for managing investment portfolios and making strategic investment decisions to generate high returns for their clients.

The potential for significant performance-based bonuses can lead to substantial earnings in this role.

Average Salary: $135,399

Also Read: What are some of the best jobs that you can get in finance?

Private Equity Professional

Private equity professionals analyze investment opportunities, acquire and manage companies, and work towards maximizing returns for investors.

Compensation in private equity is often performance-based, with a significant portion tied to the success of investments.

Average Salary: $106,111

Also Read: What skills should you put in your resume?

Financial Manager

Financial managers oversee the financial operations of organizations, including budgeting, financial reporting, and strategic planning.

As key decision-makers, they are often well-compensated for their responsibilities and the impact they have on the financial health of the company.

Average Salary: [$131,710](https://money.usnews.com/careers/best-jobs/financial-manager/salary

Also Read: What is a great example of a financial manager resume?

Quantitative Analyst

Also known as "quants," quantitative analysts apply mathematical and statistical models to financial data to develop investment strategies and risk management solutions.

Their specialized skills and ability to analyze complex financial data command competitive salaries.

Average Salary: $186,978

Also Read: How to write an excellent quantitative analyst resume in 2023?


Actuaries assess and manage financial risks, particularly in the insurance industry.

With a strong focus on data analysis, mathematical modeling, and statistical techniques, actuaries earn high salaries due to the level of expertise and specialized knowledge required for their roles.

Average Salary: $112370

Also Read: How to find a job you love?

Best Paying Jobs in Finance for Freshers

While most high-paying jobs in finance require candidates to have good experience in the industry, there are several high-paying job opportunities for freshers as well.

Here are 5 of the best-paying jobs in finance for freshers:

  • Investment Banking Analyst: Investment banking analysts work in financial institutions, assisting with mergers and acquisitions, initial public offerings, and other financial transactions. These roles often offer competitive salaries and valuable experience in financial modeling, valuation, and deal execution.
    Average salary: $75,000

  • Financial Analyst: Financial analysts assess the financial health of companies, analyze investment opportunities, and provide recommendations to clients or organizations. Freshers in financial analyst roles can earn attractive salaries, and these positions offer exposure to financial planning, forecasting, and data analysis.
    Average salary: $64,403

  • Financial Planner: Financial planners assist individuals and families in managing their personal finances and achieving their financial goals. They assess clients' financial situations and provide recommendations on investments, retirement planning, tax strategies, and risk management. Freshers in financial planning roles can earn competitive salaries, especially if they work with high-net-worth individuals or in wealth management firms.
    Average salary: $88,293

  • Treasury Analyst: Treasury analysts manage an organization's cash flow, liquidity, and financial risk. They oversee the company's financial assets, analyze investment opportunities, and optimize funding strategies. Freshers in treasury roles can earn competitive salaries, and these positions offer exposure to cash management, financial modeling, and working capital optimization.
    Average salary: $61,600

  • Compliance Officer: Compliance officers ensure that organizations comply with relevant laws, regulations, and internal policies. They develop and implement compliance programs, conduct risk assessments, and monitor adherence to guidelines. Freshers in compliance roles can earn attractive salaries, particularly in sectors like banking and finance, where regulatory compliance is of utmost importance.
    Average salary: $43,718

Also Read: What are some of the highest paying entry-level jobs in the US?

Factors that Influence Finance Job Salaries

There are several factors that can influence finance job salaries.

Understanding these factors can help you navigate your career and make informed decisions about salary expectations. Here are some key factors that influence finance job salaries:

  • Education and Qualifications: The level of education and qualifications achieved, such as a bachelor's degree in finance, accounting, economics, or a related field, can impact salary levels. Advanced degrees, such as an MBA or a master's in finance, may lead to higher-paying positions.

  • Experience and Expertise: Work experience plays a crucial role in salary determination. Professionals with more years of experience in the finance industry often command higher salaries, as their expertise and knowledge grow over time. Demonstrating a track record of successful financial projects and achieving results can also positively impact salary negotiations.

  • Job Title and Level: The specific job title and level within an organization can influence salary levels. Senior-level positions, such as financial managers, directors, or executives, typically earn higher salaries compared to entry-level or junior positions.

  • Industry and Company Size: Different industries and company sizes offer varying salary ranges for finance professionals. For example, finance roles in investment banking or private equity tend to offer higher salaries compared to roles in non-profit organizations or government agencies. Large corporations often have more resources to offer competitive salaries compared to small businesses.

  • Geographic Location: Salaries can vary significantly based on the geographic location of employment. Cost of living, local labor market conditions, and regional economic factors can all impact salary ranges. Finance jobs in major financial hubs or cities with a high cost of living tend to offer higher salaries compared to jobs in smaller towns or rural areas.

  • Performance and Results: Demonstrating a track record of performance and delivering measurable results can influence salary negotiations. Professionals who consistently exceed targets, contribute to revenue growth, or drive cost savings may have stronger grounds for higher compensation.

  • Professional Designations and Certifications: Holding relevant professional designations and certifications, such as Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), or Certified Public Accountant (CPA), can enhance job prospects and potentially lead to higher salaries.

Also Read: What are some of the best salary negotiation strategies in 2023?

FAQs about “What Do Finance Jobs Pay?”

Is a career in finance worth it?

Yes, a career in finance can be worth it for individuals who are interested in the field, enjoy working with numbers and data, and seek opportunities for growth, competitive salaries, and the potential to make a significant impact on financial decision-making.

Are finance jobs hard to get?

Finance jobs can be competitive and challenging to obtain due to the high demand for qualified professionals and the rigorous selection processes, but with the right education, skills, and determination, it is possible to secure rewarding finance positions.

Are finance majors paid well?

Yes, finance majors have the potential to earn competitive salaries, as the field offers a wide range of high-paying career opportunities with the potential for growth and advancement.

What is the highest salary for an MBA in finance?

The highest salary for an MBA in finance can vary significantly depending on factors such as job role, industry, experience, and geographic location, but it can range from six figures to several hundred thousand dollars annually for top-level executive positions in finance.

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