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The best paying jobs in finance for those with great analytical and quantitative abilities, finance jobs may be extremely profitable. The finance sector is large and covers a wide range of activities, including banking, investing, and financial technology, or Fin-tech as it is more generally known.
It is therefore essential to take into account the many positions that are accessible if you’ve been considering starting a new a career in finance. In this article, we will go through the many types of finance jobs that are out there and provide a list of some of the best paying ones.
Available Finance Jobs
There are a staggering number of opportunities in finance for those who are interested in the industry. These best paying jobs in finance fall into one of the following six categories:
Corporate careers: include chief executive positions and other positions at large, public and private firms. These jobs generally take place in offices and have more standard working hours.
Advising: Advisors help people choose products, whether they are financial, insurance, or investment-related. They often get paid on a commission or bonus basis, making this a pretty profitable career. Advisors must possess both sales power and financial knowledge.
Fintech: Financial programmers and even a portion of CFO duties are accounted for by fintech. Finance departments manage the technical foundation of today’s typical corporate businesses, especially in these best paying finance jobs, allowing Fintech to balance a wide range of different financial jobs.
Investments: Financial experts who work in investments are in charge of adding money to portfolios that assist people and businesses in increasing their wealth.
Accounting: Accountants and their associates offer an essential financial service to organizations and people, assisting them in maintaining financial records, staying in compliance with financial regulations, and managing budgets and expenditures.
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Lending: People who work in lending assist consumers in choosing loans or carry out various administrative tasks related to assisting customers in obtaining loans.
Best Paying Jobs in Finance
Here are some of the best paying jobs in the finance industry which you may want to consider if you are looking to start a career in this industry:
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Investment Banker
Average annual income: $66,784
Primary responsibilities: Investment bankers oversee the portfolios of organizations and governmental bodies that make investments in various industries. These experts advise customers on how to generate money and make investments that would aid the company in achieving its financial expansion objectives.
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Information Technology Auditor
Average annual income: $101,751
Primary responsibilities: IT auditors often do their job for public or private organizations to verify that the technological infrastructure satisfies regulatory requirements and other business IT requirements. Among the best paying jobs in the finance industry, the position on an Information Technology Auditor is for one that is skilled at conducting audits because they spend their days doing so, which often times calls for certification.
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Compliance Analyst
Average annual income: $59,016
Primary responsibilities: This is a financial expert who examines a company to see if it complies with the rules put out by various regulating bodies. Since long-term economic stability and financial development depend on set rules and regulations, the finance sector is highly compliance-driven. To verify that policies are practiced, compliance analysts examine data, procedures, and financial infrastructure.
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Financial Advisor – Best Paying Jobs in Finance
Average annual income: $74,055
Primary responsibilities: These are experts that guide clients to products that make sense by assisting them in identifying their short- and long-term financial goals. For the best paying finance jobs, an insurance advisor’s responsibilities include being equipped with knowledge about insurance products, collaborating closely with underwriters and specialists in risk assessment, and serving as the client’s main point of contact.
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Insurance Advisor
Average annual income: $89,295
Primary responsibilities: Insurance advisors offer advice on purchasing decisions for insurance for people, homes, cars, assets, and other things, as well as assistance in locating the best insurance products to fulfill long- and short-term insurance needs.
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Financial Analyst
Average annual income: $71,677
Primary responsibilities: To assist business stakeholders in making decisions about the financial health of the organization, financial analysts analyze various financial data. They support in the purchasing decisions and demands of clients across the nation by working for financial organizations including banks, funds, insurance firms, and more.
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Senior Accountant – Best Paying Jobs in Finance
Average annual income: $73,547
Primary responsibilities: Senior accountants are often in charge of the day-to-day accounting jobs and are at the top of the accounting hierarchy for the best paying finance jobs. They are responsible for managing business spending, reaching accounting goals, and maintaining budgets.
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Hedge Fund Manager
Average annual income: $83,578
Primary responsibilities: Similar to investment bankers, hedge fund managers handle portfolios of higher risk and return for investors who pool their money to take part in hedge funds. Hedge fund managers are up early and work late because they need to watch markets to safeguard investors. Rarely does a career in hedge fund investment include the usual full-time hours.
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Financial Software Developer
Average annual income: $93,817
Primary responsibilities: Developers of financial software work in the expanding Fintech industry, building solutions for both end-users and financial institutions.
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Private Equity Associate – Best Paying Jobs in Finance
Average annual income: $91,184
Primary responsibilities: These individuals establish connections with investors in order to acquire private equity, which they then use to make investments in businesses that diversify investors’ portfolios.
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Chief Financial Officer
Average annual income: $123,265
Primary responsibilities: The responsibilities of a CFO are extensive and include managing financial teams, supervising analysts and budgeting, and making cost-related decisions concerning technological infrastructure. They are among the top in hierarchy for the best paying finance jobs.
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Chief Compliance Officer
Average annual income: $114,832
Primary responsibilities: Chief compliance officers are in charge of all tasks and departments involved in adhering to compliance standards. To help firms run as effectively as possible and prevent non-compliance penalties, CCOs oversee policies and monitor compliance.
In Conclusion
You stand to have a successful career if you work in any of the best paying finance jobs in the industry. There are numerous well paying finance jobs out there, regardless of whether you have a degree in banking, accounting, economics, or statistics or are a mid-level professional wishing to transfer to a career in finance.
