Working in the financial industry may be attractive for many individuals. Competitive salaries, numerous offers, and endless prospects attract more and more people to the finance sector. This area is rich in various positions for every taste, including financial advisors, business administration, hedge fund managers, and many others. While it may be challenging to choose which role suits you most, everyone is interested in decent pay.

To help you find your place in the industry, we have prepared information about the top 11 highest-paying jobs in finance. Keep reading to explore what they rely on and their average salaries and responsibilities.

What Skills Do You Need for Finance Jobs?

The requirements for candidates for best-paying jobs in the financial sector are typically strict and cover both interpersonal and industry-specific skills. If you are thinking about working in this industry, pay attention to the following things:

Interpersonal Skills

To achieve success in the finance industry, it is important to have the following skills:

• Decision-making. In finance jobs, you will often need to make difficult decisions and choose between several available options. The ability to make the right choices is essential to work in the industry.

• Attention to detail. You will work a lot with various data, analyze it, and make conclusions. Therefore, you need to be careful and understand the details correctly.

• Problem-solving. For every financial analyst, manager, or any other specialist within the field, it is essential to be able to define problems, identify their causes, and find the best solutions.

• Communication skills. Working in the finance industry is not only about documentation. It also includes regular interactions with other people, such as those in departments and management.

Industry-Specific Skills

Although interpersonal skills play an essential role when looking for a job in the finance sector, employers first pay attention to the candidate’s knowledge within the industry:

• Budgeting. You need to be able to manage the funds effectively and divide them in a proper way.

• Financial planning. The ability to create financial strategies to help the company develop is among the most important things in finance jobs.

• Risk analysis. Finance professionals often need to analyze and anticipate risks for the company.

• Accounting. This skill means recording financial transactions within the business and analyzing, summarizing, and reporting.

• Cash-flow management. A crucial skill for many jobs in finance is based on the ability to track, analyze, and optimize cash flow within a business. It helps the company to make sure it has enough funds to meet its financial obligations.

Top Paying Finance Jobs: 11 Best Roles

If you want to try yourself in the financial industry, pay attention to the following positions first. They are considered the highest-paying jobs in finance.

1. Investment banker;

2. Financial risk manager;

3. Financial manager;

4. Financial analyst;

5. Hedge fund manager;

6. Certified public accountant;

7. Financial advisor;

8. Chief compliance officer;

9. Chief financial officer;

10. Private Equity Associate;

11. Economist.

While these positions typically have good pay, it is unaffordable for many individuals to fund getting even a bachelor’s degree in finance at a university or college. BadCredify.com is a place where you can learn about various borrowing options and lenders who may help you with additional money for your education and other expenses.

Below, we have prepared information about all the mentioned jobs, their average salaries, and responsibilities.

#1. Investment Banker

Investment banking is an excellent high-paying finance job suitable for those interested in the investment sector. In the U.S., an investment banker earns an average of $157,000 per year with the perspective of making over $200,000 in the roles of a vice president (VP), senior vice president, and managing director (MD).

To become beginner investment bankers, individuals are asked for at least a Bachelor’s degree. They need to have a great knowledge of how to raise capital and choose appropriate investment strategies. Furthermore, investment bankers should be prepared for high-pressure situations and intense analytical work requiring long hours.

#2. Financial Risk Manager

Financial risk management is based on analyzing financial markets and the global environment to forecast changes or trends. A financial risk manager helps banks, insurance companies, accounting firms, and other businesses maximize profitability and avoid potential pitfalls, such as market risk, liquidity risk, etc.

If following market trends is in the field of your interest, this position is a great choice. Financial risk management is among the best-paying jobs in finance that can bring you around $111,556 a year.

#3. Financial Manager

After getting at least several years of experience in the finance industry, you can try to apply for the position of financial manager. Financial managers are a part of every corporation and are among the highest-paying jobs in finance, with an average base salary of $131,410.

To get such a good pay position, you need to have knowledge about all financial aspects of business, including planning, accounting, tax, financial reporting, etc. It is also crucial for a finance manager to have a minimum of a Bachelor’s degree in a financial field.

#4. Financial Analyst

Another idea for starting or pursuing a finance career is trying yourself in the role of a chartered financial analyst. In this role, you can work at a bank, consulting firm, mutual fund, or corporation and analyze financial statements to evaluate investment opportunities. Financial analysts are responsible for a wide range of activities, such as creating financial reports, gathering data, working with financial modeling, and making forecasts and recommendations. The correctness of a company’s decision significantly depends on the information provided by financial analysts. If you are an experienced specialist working at least eight years in the field, you can expect an annual salary of around $115,000.

#5. Hedge Fund Manager

The work of hedge fund managers is similar to manager positions in investment banking. The main difference is that they work specifically for hedge funds: investment partnerships of private investors that invest clients’ money into various stocks and financial instruments. Due to the high earning potential, this role is attractive for numerous candidates. However, to work in one of the highest-paying jobs in finance with a salary reaching $500,000 per year, you need to have a bachelor’s degree in Accounts, Business, or similar fields and have good experience in the area of risk control investment banking, or portfolio management.

#6. Certified Public Accountant (CPA)

All certified public accountants are accountants, but not all accountants are CPAs. This is the simplest way to explain the difference between the two things. A CPA performs the same duties as a normal accountant does. However, they are more trusted and often more knowledgeable. To become a CPA, you need to pass an expensive exam that demonstrates your excellent technical skills for providing services for financial accounting. Thanks to more extended knowledge confirmed through the exam, CPAs generally earn more than normal accountants. The average annual salary for this role in the U.S. is $96,738.

#7. Financial Advisor

A personal finance advisor is one of the highest-paying jobs in finance, whose average salary was $90,866 in 2023. They are responsible for the identification of clients’ short- and long-term goals and their achievements. Furthermore, financial advisors help customers make profitable decisions, develop investment strategies, and solve various financial issues.

In addition to the standard required Bachelor’s degree, it may be helpful for you to get a Master’s degree and a Certified Financial Planner or other industry certification. These extras can significantly help you advance your career.

#8. Chief Compliance Officer (CCO)

A chief compliance officer, also known as a CCO, is one of the most important members of the management team who is responsible for overseeing and managing regulatory compliance issues within the company. They establish standards and implement procedures to ensure that the compliance programs in the organization are effective.

To start a career in this role, a candidate should have a Bachelor’s degree in business management, finance, or other similar fields and work in the industry for at least eight years. Then, if all the requirements are met, an applicant can count on working at one of the highest-paying jobs in finance where an average base salary is $245,301.

#9. Chief Financial Officer (CFO)

Chief financial officers (CFOs) are responsible for managing the financial actions of a company, such as cash flow, financial planning, and analyzing the organization’s financial strengths and weaknesses. A CFO is a member of the C-suite, the most important executives in a company, including the chief executive officer (CEO), chief operating officer (COO), and chief information officer (CIO).

The salary for this role usually ranges from $330,781 to $560,178, with an average salary of $436,636. This is a reason why the road to this position is really difficult and generally takes nearly 15 years.

#10. Private Equity Associate

Private equity associates are business executives who can work for investment banks, funds, and other similar financial institutions. Their job is based on working with private equity firms and looking for potential investment opportunities for them. To work in this role, It is crucial to understand the financial sector and investment banking deeply. With this knowledge, you earn around $95,000 yearly.

#11. Economist

If you are interested in data analysis and statistics and following economic trends is a pleasure for you, applying for an economist position may sound attractive. This role requires conducting research, preparing reports, forecasting consumer demand, and analyzing competitor’s growth. At the moment, the average salary for this position is $113,674 a year.

What Education Level Do You Need for Finance Jobs?

To work in the finance sector, having a bachelor’s degree is a minimum requirement. It is generally much more challenging to find a good job after high school. However, a master’s degree and various industry certifications can open higher salaries and more opportunities for you.

The Bottom Line

The financial industry is an excellent field where people can make good money and constantly develop. The selection of high-paying positions is large, enabling everyone to find something for themselves. These jobs allow you to work in business administration, corporate finance, investment banks, and many other organizations. After reading about various finance jobs, you can see which roles are more suitable for you and which are less.