The median salary for a finance professional is $62,250 per year, but it can be considerably higher than this if you’re fresh out of school. According to the Bureau of Labor Statistics, there will be eight percent more job openings in the finance industry over the next decade, or 750,800 new positions. This indicates moderate competition for these positions and ample job availability.
Among the most highly sought-after positions in the workforce, finance jobs can offer excellent salaries. These jobs also often come with a number of other benefits. As a result, many people aspire to be in this industry. However, these jobs are also competitive, and not everyone who applies will get hired. The salary for finance positions depends on several factors, including experience.
Investment bankers, for example, make an average salary of $62,270 a year. The highest earners in this field make more than $200,000. Financial managers also play a vital role in a company’s financial health. They oversee teams of finance professionals and assist with strategic planning initiatives. Financial managers typically earn $129,890 per year, although some earn more than $200,000.
Entry-level finance positions typically pay about $55,000 a year. However, there are many other, more lucrative positions in the field. A portfolio manager with many years of experience can make up to $217,000 per year. Likewise, an entry-level banker can expect to make up to $27,000 per year. If you are thinking about a career in finance, it’s a good idea to check out the salary ranges before applying for a position.
Depending on the position you choose, many of these jobs require a strong mathematical and computer background. Often, this means dealing with financial modeling applications and complex databases. While a background in computer coding is not essential for entry-level finance jobs, it’s definitely helpful if you have knowledge of computer scripting or a background in advanced quantitative analysis. Having good interpersonal skills is also essential for success in this field.
In terms of job opportunities, finance professionals can work with governments, non-profit organizations, and individuals. Most positions require a bachelor’s degree. Others require licensing or certifications. While the financial sector is highly competitive, it also offers a number of opportunities for advancement and promotion. There are also many high-paying positions in this field, so you should research the opportunities available before deciding whether to attend a finance program.
There are many benefits to a finance career, and it can be a great fit for you if you love math and logical reasoning. However, this field can be stressful, and the hours can be long. Despite this, many finance jobs offer a work-life balance. If you’re unsure whether this career is right for you, try shadowing or an internship to get a feel for the demands.
Many finance jobs require at least a bachelor’s degree. However, some are more specialized, and a master’s degree is sometimes required for this position. The salaries for these positions vary greatly depending on your degree and specialization.