Before you lean into a particular field, though, it’s wise to consider finance career salary ranges for different positions and your anticipated career trajectory. There are a few different positions to consider. Here are the responsibilities you will fulfill in jobs with a finance degree, salary expectations, and more.
12 Careers in Finance: Salary and Job Descriptions
There are many different avenues to explore when it comes to a career in finance, but what do finance jobs pay? Here are several jobs that offer some of the best pay, whether you’re fresh out of college or have the education and experience to go for mid-level, senior, or executive positions.
Highest Paying Finance Jobs Out of College
Do finance jobs pay well? Whether you’ve just declared your major for a bachelor’s degree or you’re working on completing a master’s program, it's natural to wonder about your future salary prospects. You may have your heart set on a specific career path, or maybe you’re interested in finding out which finance jobs pay the best right off the bat and which offer the most incredible opportunities for advancement and increased earning potential over time.
What are a few of the highest-paying finance jobs immediately following graduation?
Junior Finance Analyst
Professionals working in financial analysis are invaluable to businesses, as their primary roles include analyzing trends, reconciling accounts, and forecasting. As a junior finance analyst, you’ll assist more senior professionals in accomplishing these tasks.
The pay for a starting junior finance analyst is significant, falling between $58,000 and $72,000. You can start with a bachelor’s degree and advance with additional education or experience.
Internal Auditor
For jobs you can get right out of college, one that offers a competitive finance career salary is an internal auditor. In this role, you’ll be in charge of auditing financial reports to help ensure accuracy and compliance with all applicable regulatory requirements.
Internal auditor positions range from about $58,000 to over $69,000, a good starting place for someone straight out of college. Earning potential can significantly increase as you accumulate years of experience, and there’s high demand for this position because many companies are legally required to retain internal auditors.
Personal Finance Advisor
Financial advisors help clients set and reach financial goals through saving, investing, building a diverse portfolio, contributing to retirement accounts, etc. The salary for this type of job spans a wide range, starting around $60,000 up to as much as $160,000.
That may be because financial advisors work with a diverse clientele, from average investors to high-net-worth and ultra-high-net-worth individuals and families. States with the highest median salary for financial advisors include New York, Washington, DC, and Massachusetts.
Highest Paying Mid-Level Finance Jobs
When you’re ready to improve your finance career salary, your next step is to move into a mid-level position. Often, these roles fall into the management category, meaning you’ll take on more complex job duties and be responsible for a team of employees.
Finance Manager
Finance managers take on a lot of the responsibility for the financial health of an organization, with duties that include budgeting, accounting, taxes, insurance, forecasting, and compliance, along with managing a team that collaborates to complete these essential tasks.
The salary for this position ranges from about $115,000 to upwards of $145,000. It typically requires about five years of related experience to qualify, potentially including 1-3 years of work in a supervisory capacity.
Treasury Manager
This management position offers a better finance job salary range for mid-level employment, with annual pay falling between about $110,000 and $144,000. For the money, you’ll be expected to supervise a team tasked with managing day-to-day treasury functions related to cash flow, managing capital, monitoring investments and collections, and generally seeing to the financial obligations of an organization.
You’ll help to achieve objectives while complying with applicable regulations. Treasury managers are also responsible for preparing forecasts for expenses and earnings.
Financial Risk Manager
Like a finance manager, this position focuses on maximizing profit but approaches the goal differently. Financial risk managers balance the earning capacity analysis against potential threats and risk factors that could result in the loss of assets or business failures. Financial risk managers may lean toward specializations in areas like market risk. Average salaries for this type of position range from $91,000 to $118,000 annually.
Highest Paying Senior Level Finance Jobs
Working your way up from a management position means entering a role where you gain some decision-making power. Senior, director, and VP-level finance jobs require experience, proficiency, and in some cases, additional education. As careers in finance salaries go, however, you stand to see a significant jump in earnings when you advance from mid-level to senior positions.
Vice President of Finance
In a VP role, you’ll assume a position of overview that takes you away from day-to-day finance duties and puts you squarely at the helm. Responsibilities for this type of position typically include planning and directing long-term financial goals, understanding regulations and creating policies that ensure compliance, overseeing filing and reporting, and bridging the gap between management and executive levels.
This position often requires an advanced degree and several years of experience, but the pay is commensurate. Regarding jobs in finance salary, a VP of Finance can expect to earn between about $200,000 and $267,000 per year.
Finance Director
Director-level positions have managers reporting to them, and they may be responsible for overseeing everything from credit and budgeting to accounting and taxes to risk management. Additionally, a Finance Director may be tasked with creating financial policies, planning for an organization, and managing controls. You may need five or more years of managerial experience to qualify for this role, but pay ranges from $163,000 to $228,000.
Tax Director
This professional oversees and directs several areas, including tax policies, objectives, reporting, and regulatory compliance. However, the most notable duties associated with this role revolve around filing complete and accurate tax returns to minimize tax liabilities. Annual earnings for this position fall between around $169,000 and $215,000.
Highest Paying Executive Finance Jobs
If you’re interested in high-paying finance careers, you’ll want to set your sights on the C-suite. Executive-level positions not only pay more, but there are often opportunities for equity that may not be available at lower levels. That could significantly boost your earnings if the company performs well.
Chief Financial Officer
The Chief Financial Officer, or CFO, is at the top of the food chain regarding finance career salary and responsibilities. Have you ever wondered how the financial policies of a company are developed or where the overarching strategic economic direction comes from?
That is what the CFO does, overseeing all financial functions from top to bottom. Unsurprisingly, this position has earning potential far beyond a VP or director role, with an annual salary range between roughly $325,000 and $550,000.
Chief Compliance Officer
As you may have guessed, the primary function of a Chief Compliance Officer (CCO) relates to regulatory compliance at the highest level. This position is responsible for developing policies that ensure financial activities and reporting across all units to follow applicable regulations. The role includes tracking regulatory changes and adjusting policies and procedures as needed. Pay for this position ranges from around $202,000 to $285,000 per year.
Investment Banking Managing Director
Investment bankers primarily raise capital for an organization through debt and equity. A Managing Director in investment banking handles transactions and clients at the highest level, managing investment banking revenue, mergers and acquisitions, capital markets, and restructuring bank deals.
The average salary for this position lands in the $220,000 to $295,000 range. However, the base salary can be significantly improved by common incentives like bonuses and stock, often to the tune of seven figures annually. That makes Investment Banking Managing Director potentially one of the highest-paying bank jobs.
Find the Right Finance Career for You at the University of Miami
A finance career offers competitive salaries with high earning potential. Salaries vary based on job role, experience, and location. Positions like investment bankers and financial managers can earn six-figure salaries, while entry-level roles typically start in the mid-five-figure range.
The finance career salary linked to a given position isn’t the only reason to choose a particular path, but it is an essential factor. By considering what a job demands, understanding advancement potential, and playing to your strengths and interests, you have the best chance to plan a strategic career path that’s both challenging and fulfilling.
It all starts with earning an online master's in finance, and the University of Miami’s UOnline offers suitable degree programs delivered by top-ranked faculty, with the added benefit of remote learning opportunities. Contact us today to learn more.
