12 Best-Paid Jobs in Finance (With Job Duties and Salaries)
By Indeed Editorial Team
Published 2 November 2021
The Indeed Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with Indeed's data and insights to deliver useful tips to help guide your career journey.
People often find that jobs in finance can be an incredibly lucrative career option, especially for those with strong analytical and mathematical skills. There are various types of jobs in the finance industry, ranging from investment and banking to financial technology. Having a good understanding of the different types of jobs in this industry can help you choose a career path best suited for your skills and interests. In this article, we share the top 12 highest-paying jobs in the financial industry.
12 best-paid jobs in finance
There are several jobs in the finance industry that you can select based on your interests and skills. Here's an overview of the best-paid jobs in the finance industry:
Average base salary: $378,694 per year
Primary duties: The chief credit officer (CCO) is responsible for managing the risk related to the distribution of bank loans. Their responsibilities include overseeing collections and loan procedures, compliance with internal and government regulations, assessment of bank's credit resources and identifying ways to mitigate the risks surrounding a loan portfolio. They also work with management to ensure all internal documentation complies with government regulations. Finally, they're responsible for all the decisions of the lending division of a bank or lending institution.
Average base salary: $454,585 per year
Primary duties: A trader is a professional in the stock market. They identify potential trading opportunities and hedging strategies and organise the stock purchases. They can also provide trade suggestions and help their clients improve their financial portfolios. In addition, they keep themself abreast with the changes in the financial market and work closely with quantitative researchers to identify ways to improve trading strategies.
Average base salary: $479,959 per year
Primary duties: An insurance broker is a professional who helps their clients identify the best and most appropriate insurance policy for their needs. They facilitate communication between the insurance companies and customers. Their duties include working closely with clients to understand their needs, presenting the various policies for the client to review and deciding the best policy that may be most beneficial for the client. Insurance brokers also educate their clients about the prices and coverage details of various policies so that the clients can make informed decisions about which insurance policy they're interested in purchasing.
Average base salary: $486,330 per year
Primary duties: An accounting manager oversees all the financial reporting duties in an organisation. They are responsible for creating systems and processes to analyse and report financial information, enable organisations to follow regulatory and legal requirements, and suggest improvements for business procedures. They also work closely with the director of finance and the controller to look for workflow improvements and review new projects.
Average base salary: $492,657 per year
Primary duties: The job of a portfolio manager is one of the most coveted jobs in the financial industry. A portfolio manager makes investment decisions and carries out investment activities on behalf of vested individuals or companies. Duties include investing a mutual, closed-end or exchange-traded fund's assets, implementing investment strategies and handling day-to-day portfolio trading. These portfolio managers work with a team of researchers and analysts. They're ultimately responsible for making the final investment-related decisions for a fund or asset management.
Average base salary: $518,548 per year
Primary duties: An audit manager is responsible for managing and organising the internal audits of a company based on the audit plans. They oversee all the activities related to internal operating controls, processes and practices. While the daily activities of an audit manager vary by industry, company and location, generally, they're responsible for planning and conducting operations and financial audits, documenting the results of the evaluation and identifying potential business risks. Senior audit managers also manage a team of auditors or accountants, reviewing their work and offering guidance.
Average base salary: $544,780 per year
Primary duties: A finance manager is a crucial member of the finance department and oversees all the financial aspects of a company. Their job involves analysing a client's financial records to assess their financial standing, coordinating accounting activities and producing financial reports, budget planning and supporting the senior management team by providing insights and financial advice that can help them make the best business decisions for the company. They also analyse market trends and develop strategies to minimise financial risks.
Average base salary: $574,052 per year
Primary duties: An organisation employs a credit analyst to analyse the creditworthiness of existing and potential individuals or businesses and assist with ongoing management and modelling of credit risks. They determine the likelihood that a borrower can pay back their financial commitments by reviewing their financial and credit history. They typically work with commercial and investment banks, credit rating agencies, credit card issuing institutions and investment companies.
Average base salary: $609,227 per year
Primary duties: The role of a financial controller is very important within a commercial organisation. The core responsibilities of this position include financial reporting, treasury management, business analysis, business budgeting and forecasting, business development projects and risk evaluation. Being a highly sought after position, a financial controller is often technically astute with sound knowledge of financial fundamentals.
Average base salary: $799,385 per year
Primary duties: The director of finance is a senior executive team member who manages all aspects of a company's finance and accounting. They establish and manage the financial strategies of a company for long-term growth and earning profits. They also develop annual financial plans and projections for a company. Being highly analytical finance professionals, they ensure the smooth functioning of a company's finances by assessing financial markets, determining solutions to financial issues and preparing reports.
Average base salary: $998,417 per year
Primary duties: An Anti-money laundering (AML) analyst monitors and investigates suspicious financial activity. Often empowered with several anti-money laundering solutions or software, AML analysts can use various digital tools to understand financial transactions and identify trends. An AML analyst has a good understanding of the firm's products and services and clearly understands transaction types, including regular customer level interactions.
Average base salary: $1,184,233 per year
Primary duties: Investment bankers help manage the investment portfolios of companies, institutions and government agencies that invest in several businesses. In addition, they help their clients to raise money in capital markets by issuing debt or selling equity in the companies. Other job duties include assisting large business clients with mergers and acquisitions and advising them on unique investment opportunities. You may also perform due diligence research and evaluation of financial transactions and make presentations for client portfolios.
What are the common types of finance jobs?
The financial industry is broad, with a wide range of opportunities. For example, you can work in the finance department of a company, join the banking and financial sector, or explore the investment banking sector. Here are the six common categories of jobs in finance:
Corporate finance: The jobs in this category involve the ones in the finance department of a company. Some examples include chief finance officer, finance director, finance manager and risk manager.
Investment banking: Financial professionals in investment banking work closely with government agencies, large corporations and other individuals to help them raise capital or provide advice regarding financial strategies. They also frequently buy and sell investment products, including stocks, bonds and other securities.
Trading jobs: Trading jobs are common in commercial and investment banks, hedge funds and asset management firms. Traders aim to earn a profit for their customers via a bid or ask spread.
Accounting: Accountants and their associates provide a significant financial service in supporting businesses and individuals to maintain financial records, ensure compliance with regulatory agencies and manage budgets and spending.
Advising: Advisors offer guidance to individuals and businesses about financial and banking products, such as insurance, investments or bonds. They often work on a commission basis, which makes it an extremely lucrative career path.
Salary figures reflect data listed on Indeed Salaries at time of writing. Salaries may vary depending on the hiring organisation and a candidate's experience, academic background and location.
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