Best Highest Paying Jobs in Finance Sector
Opportunities to Grow Your Emerging Career in Finance Industry
If you are interested in having a career where you can explore the world of business and different opportunities related to mathematics and accounting, then you are invited to read this article and know about the Finance Sector and its benefits which include generous salaries. The word Finance can be explained by the knowledge about investment opportunities, management of money, income, debt, cash flow, interest rate, loan, banking, budgeting, and saving, etc. It can be defined by the decisions concerning how money is used and raised by the individual or a company. It is a science of money that is concerned with the management of economic wealth and creating wealth by the activities involved in business cash flows.
Overview of the Top 14 Paid Jobs & Careers in Finance Industry
The best-paying jobs in the finance corporate sector are of different branches, i.e. Financial Planning & Analysis, Treasury, Corporate Development, and Investor Relations. These branches provide the different types of most-in-demand finance jobs and are known as the art and science of managing money to be used in economic investment. If you are searching for a career in finance with a good salary and a respectable job profile, then you should know that you have multiple choices to pursue your career, i.e.
1. Investment Banking
Investment Banker Average Salary: $61,929 Per Year
Investment Banking is known as a strategic advisory and financial intermediaries to provide credit facilities and consultancy services related to corporate and investment matters of making investments on the behalf of customers. Investment banking functions by providing;
Research Services to its clients which include selling and buying recommendations of financial stock, forecasting, and modeling.
Sales and Trading to deal with sales and trading of securities in the secondary market.
Raising Capital through Initial Public Offerings to earn revenue through consulting fees.
2. Asset Management
Asset Manager Average Salary: $88,908 Per Year
Asset Management is known as the coordinated activity of an organization to realize value from the assets. It functions by setting the interrelated or interacting elements to establish Asset Management Policy & Asset Management processes to achieve those objectives. It provides risk control and gives assurance to meet the objectives. In simple words, it is described by the process of planning, publication, maintaining, upgrading, and operating the physical assets, based on a continuous physical inventory and condition assessment.
3. Corporate Finance
Corporate Finance Manager Average Salary: $93,248 Per Year
Corporate Finance can be defined by the financial activities related to running a corporation by concerning with maximizing shareholder value through long-term and short-term financial planning and strategies.
Corporate finance functions by governing three important activities;
Capital Investment decides what projects to invest in, to earn the highest possible risk-adjusted return.
Capital Financing determines how to fund capital investments to optimize the firm’s capital structure.
Returns of Capital decide how and when to return capital to investors.
4. Hedge Funds
Hedge Fund Manager Average Salary: $87,534 Per Year
Hedge Funds are known for the investment of funds in a range of assets which includes common stock and bonds commodities. Hedge Funds take both long and short positions to use arbitrage which includes selling and buying undervalued securities. It trades options or bonds to invest in any opportunity by reducing volatility and risk to preserve capital. It manages according to the fund's strategy to maximize investor returns, regardless of whether the market climbs higher or declines. In simple words, it means to offset your part of the risk by aiming at maximizing the investor’s return and eliminating the risk.
5. Commercial Banking
Commercial Banker Average Salary: $94,731 Per Year
Commercial Banking is a type of Financial institution that provides transactional savings to money market accounts that accept time deposits. It is involved in transferring funds from servers to borrowers and in paying for goods & services. Commercial Banking can be identified by the functions they perform in the economy to provide financial services to the general public, businesses, and companies. It also ensures economic stability and sustainable growth of the country’s economy. The functions of commercial banking are;
Accepting Deposits i.e. Saving Deposits, Current Accounts, Term or Fixed Deposits.
Advancing Credit Facility i.e. Short-term and medium-term loans from a percentage of cash deposits at a high-interest rate.
Credit Creation is Deposit Accounts from which borrowers can draw funds in the form of cash or cheque according to their needs.
6. Risk Management
Financial Risk Manager Average Salary: $114,215 Per Year
Risk management in the Financial Services Industry is the outcome of an action or event that could bring up adverse impacts or could either result in a direct loss of earnings. It is a process of comprising strategies that enable an organization to manage the risks associated with financial markets. The parts of the organization that Risk Management involves and impacts are sales, marketing, treasury, tax, legal, and corporate finance. It is consists of three components, i.e.
Financial Risk Management Strategies
Financial Risk Management Policies
Financial Risk Management Methodologies
7. Equity Research
Equity Analyst Average Salary: $84,509 Per Year
Equity Research consists of multiple steps, i.e. Company Analysis, Industry Analysis, Report Writing, Economic Analysis, Financial Statement Analysis, and Presentation or Recommendation. In simple words, it is comprised of the steps involved in the research, buy-side & sell-side research, and bull & bear market. It is about the management of timing the market and time in the market by analyzing the economy, company, and industry through interpreting numbers of a positive and negative outlook. The skills required for equity research are report writing, excel proficiency, analytical ability, and communication.
8. Retail Banking
Retail Banker Average Salary: $29,907 Per Year
Retail Banking can be described as a Financial Sector that deals with retail customers. It is also known as consumer banking or personal banking which can be located in major cities of the country. It is visible banking for the general public which is comprised of business banking and international banking. Retail Banking usually focuses on individual customers, a wide branch network, and a variety of services available to provide credit. It is generally referred to as offering financial services and products related to deposits & assets for personal consumption.
9. Fund Management
Fund Manager Average Salary: $145,162 Per Year
Fund Management is comprised of the management budgeting all revenues and expenditures for individual responsibility to prevent budget overruns. It classifies between commitments and payments to monitoring future fund movements in light of the budget available. Fund Management System is consists of features, i.e. Accounts, Investors, Reporting, Portfolios, and Funds. It is about the planning of management by determining investment objectives, creating an investment policy, and establishing a strategic asset by selecting securities and monitoring the markets to re-balance the portfolio and feedbacks.
10. Insurance
Finance & Insurance Manager Average Salary: $110,572 Per Year
Insurance is a branch of Risk Management that deals with compensating for specified loss or damage in return for payment of a premium. It is a legal contract and a social-economic-financial tool to receive financial protection against losses.
11. Trading
Trading Manager Average Salary: $83,815 Per Year
Trading is simply defined as a process of making a profit from buying and selling different financial instruments. It is a provision of any form of financing that enables a trading activity to take place. It can be given directly to the supplier in case of immediate sale or for storage for future activities.
12. Accountancy & Tax
Tax Manager Average Salary: $119,631 Per Year
Accountancy and Tax is basically a branch of Accounting that comprises Financial Accounting, Social Accounting, Cost Accounting, and Management Accounting. It can be defined by an amount of fun deducted from individuals and institutions to transfer into the public treasury for the expenditures of social and economic welfare. In simple words, accountancy and tax is a process of identifying, summarizing, recording, and classifying business transactions to interpret the results in order to make decisions regarding the organization.
13. Corporate Law
Legal Manager Average Salary: $115,099 Per Year
Corporate Law in Finance is about studying the employees, creditors, shareholders, directors interacting with one another. It is an important part of law-making that allows the central government to control and maintain the functioning, financing, and formation of companies.
14. Management Consultancy
Management Consulting Manager Average Salary: $121,431 Per Year
Management Consultancy is about making values for institutions and organizations, by the techniques, assets, and the application of knowledge to improve the performance of the workplace. It is about achieving the objective through the implementation of innovative business solutions.
Education Requirements for Entry-Level Finance Jobs
Finance is an honorable and courteous field for an individual to break into because of the reason that finance institutions are known for providing their employees a huge scale salary, many facilities, and multiple benefits which also include various bonuses. But getting your dream job isn’t that easy as finance organizations prefer several years of working experience and an MBA degree as well. The good news is that this is a vast field that offers many honorable job positions for fresh graduates and students as well. So the applicants who are looking forward to availing of this opportunity are advised to get a business school degree to acquire a job position in a reputable financial institution. Applicants are also advised to recruit themselves for summer internship programs in various institutions. The internship programs are always helpful for the candidates who look forward to achieving their goal of working in an honorable finance organization.
