There are two kinds of people in the world they say, the first category belongs to the people who are good at maths and the second to those who are not. If you are somebody who falls in the former category and are friends with the numbers, a job in finance would be perfect for you and we are here to acquaint you with the Best Paying Jobs In Finance Sector with the help of this article.
With good communication skills and median annual salary and by handling financial operations of financial organizations in the bureau of labor statistics, one can make good use of their bachelor’s degree as well as master’s degree.
As few of the highest paying finance jobs in the government agencies are offered according to the financial models in the financial services companies to the financial professionals, the personal finance according to the financial models is taken care of by the budget analysts and financial manager in investment banking.
1. Manager of Finance – One of the Best Finance Jobs
Working as a Manager of Finance is a career that is very high in demand and has the responsibility of a company’s financial health resting on its shoulders. Over 23,000 people are hired every month in this particular career path, its high demand makes the job all the more secure and a good choice to go with as far as investment banking is concerned in the investment companies.
Overseeing the different aspects of a company and helping the employees in their role towards financial transactions that are inclusive of budget calculations and analysis as well as staffing and purchasing decisions. The job requires the employee to put their skills and bachelor’s degree to use in every single area of the company’s functioning as the best paying jobs in finance sector.
The responsibility that comes with the job is to create financial reports as well as strategies for the growth of an organization. A Manager of Finance builds long-term goals for the company and works hard towards the development of the same. The job has an outlook and growth of about 17% and it offers an average salary of ₹99,64,099.46/ $134,180 and is one of the best paying jobs in the finance sector.
2. Personal Financial Advisor
As a Financial Advisor, one makes use of their expertise, experiences as well as learning to offer their clients advice in every sphere of life. From investments, savings, retirement, taxes, estate planning to personal budgeting, it covers it all. They are one’s perfect financial planning partner and have one of the highest paying jobs, they look out for their clients in the money matters.
The outlook of this job is however not a lot, it is just 5% which makes it much slower than the rest of the career paths. Their average salary is about ₹66,43,981.28/$89,330. As an educator of the finances, the primary job is to make the client understand and plan their way to their future goals regarding their financial institution as the financial advisors and private banking analyst to take care of the hedge fund in private equity in public and private groups in corporate finance as one of the best paying jobs in the finance sector.
For one to bag an entry-level position, the ideal course for them to choose is a bachelor’s in finance or in accounting. The step-by-step process for one to move up their rank would be acquiring a master’s degree in finance and an MBA would be a cherry on the top. It would make you a skilled professional with the right license to offer financial advice.
3. Accountant in Investment Banks
With the major responsibility of interpreting and maintaining financial records, an account works towards a wide range of tasks that are related to finance for everyone owning huge organizations to small business owners or even individuals. These highest paying finance jobs are in utter need of individuals who have good knowledge about problem-solving and go beyond the requirement of just knowing numbers.
One of the major responsibilities of an accountant is to make sure that the tax information of a company and an individual is properly done and is as accurate as it could be. This is all worth it when one is offered an average salary of 54,70,804.32/$73,560 for the hard work that they put in.
The three primary types of accountants are as follows;
1. Public Accountants
2. Government Accountants
3. Management Accountants
If one chooses to go into this field of accounting they need to be prepared to not have two minutes to breathe during the tax season as that is most often the busiest. They are expected to work hard during this season which is usually from the month of April and many people end up working overtime, owing to the same as the best-paying jobs in the finance sector.
4. Financial Examiner
With a job outlook that faces an 18% growth which is much faster than quite a few career paths that lie in the same domain, the average salary of a financial examiner is ₹60,56,274.82/$81,430 and is one of the best paying jobs in the finance sector.
From making sure that financial institutions like the bank are in regular compliance with the laws that govern them to ensuring the financial as well as real estate transactions adhere to their rules also, the Financial examiner takes care of it all.
The responsibility of keeping the institutions of finance, for instance, banks, legally compliant lies with the Financial Examiner. This stands true for the complying in all of their transactions as well as operations. They overlook everything that comes under this particular section and ensures the smooth functioning of the same.
Moreover, Financial examiners are also the ones held responsible as far as risk management is concerned. They work towards ensuring that the loans that are offered by financial institutions are safe and as an extension, to also oversee if banks have enough resources for them to smoothly manage unexpected losses and sail through them without any hesitation in the best paying jobs in the finance sector.
The two areas they work in are as follows;
1. Risk assessment
2. Consumer compliance.
5. Financial Managers and Analysts
To manage and coordinate the different aspects of accounting and finances is what is highlighted in the job description of a financial Analyst. Not only that, for them to be good at their job they need to take on the responsibility for the conduction of an in-depth analysis of credit, revenue as well as expenses. For people who are detail-oriented and also in analyzing data with creativity and innovation, this is one of the highest paying jobs among all finance jobs and they would be a dream.
It is one of the best finance jobs in the financial firms for investment bankers, with the Job outlook facing a 6% growth which is just as much as the average, the job opportunities are not more or less than the ordinary career path, it is just the same. They are offered an average salary of ₹62,23,551.06/$83,660 for maintaining and analyzing the finances as one of the best paying jobs in the finance sector.
Staying abreast and aware of all the economic trends is an ideal requirement in order to advise businesses as well as clients regarding the best way to invest along with diversifying their money. Along with that, assessing the value of a company as well as its financial prospects and risks is a key requirement in the job description of a Financial Analyst as it is one of the best paying jobs in the finance sector.
6. Management Analyst in Financial Services Firms
A Management Analyst or a management consultant thrives to increase and smoothen a company’s efficiency with their role. Not only that, but they also work very hard towards examining and finding out the problems the company is currently facing and could be facing in the future. They go through the records of the company, analyze them and cancel out the ineffective procedures and then and then develop solutions to improve on the same in the investment bank making it one of the best paying jobs in the finance sector.
With an average much higher than most career paths, the job outlook and growth is about 14%. A bachelor’s in finance is the basic requirement for this job, but a CMC certification can also make an individual a better competitor and also job-ready. They have an average salary of ₹65,20,549.65/$87,660 to work as a management analyst and also manage labor statistics and equity capital markets.
As the veteran management analyst Alexander Lowry once said, “Management consultants help organizations solve issues, create value, maximize growth and improve business performance”. Proposing innovative and creative ways to improve the efficiency and working of a company, working towards the reduction of unnecessary costs, and also maximizing profit and work productivity is all a part and parcel of one’s job as a management analyst or as some call, a management consultant which is one of the best paying jobs in finance sector.
7. Loan Officer
From evaluating and authorizing the approval of a business to evaluate the financial status of a loan applicant, a loan officer handles the responsibility of it all. Not only that, his duties are inclusive of updating account records as well as reviewing files that are loan-related. They also work for a number of credit unions, mortgage companies as well as credit unions with hedge funds as the hedge fund managers.
With a job outlook that faces only a 1% growth that brings little or no change and an average salary of ₹47,57,287.24/$63,960. A number of loan officers and investment bankers from different areas earn several thousand more each and every passing year through the bonuses and commissions they get.
The Loan officers evaluate as well as authorize the approval of a loan for both businesses as well as individuals by using a process called underwiring. One very interesting fact and something people who are planning to go into this field should know about is that they pay dramatically varies in accordance to the division of work at a place. This subjectivity in pay depends on the role a person plays and if that is of a; Consumer loan Officer or a Commercial loan Officer.
8. Budget Analyst in Financial Institutions
The responsibility of a budget Analyst is to help and work with the public as well as private institutions such as government agencies along with universities in order to organize their finances. Their responsibility, however, doesn’t end there, they are also responsible for making sure that the accuracy of the budget proposal as financial managers is high while also being compliant with the laws, rules, and regulations.
With a job outlook that reflects a 5% growth which is a little slower than the average, and with an average salary of ₹58,73,322.68/$78,970, the job of a Budget Analyst is a tricky one that requires work according to a particular time and season keeping in mind the hedge funds as the hedge fund managers.
The majority of the time of a budget analyst goes into analyzing results, preparing proposals for spending cuts, making budget plans, compiling annual reports, and the redistribution of financial resources. They also review the budget history and tend to study the financial changes that have happened during the course of the existence of their client and have one of the highest-paying jobs. A budget analyst has an extremely reliable and up to database as well as efficient financial tools.
Through the course of this article, we have gotten to know about the works and functioning of a number of jobs in the field of finance that somebody with an interest in this particular career path can pursue. A career in this field wouldn’t only match your interests but would prove to be the best choice you could possibly make.
From investment bankers, personal financial advisors, financial managers, financial analysts, financial data in financial firms and financial services industry all the highest paying jobs with private equity firms are offered in the financial sector and in investment banks by the chief financial officer incorporate and software organizations and credit risk analysts in public and private institutions.