Finance degree can get you a well paid job right after college. It can also set you for a very successful entrepreneur career with the skills, experience and network necessary for the world of business.
There are many jobs in the financial sector. In 2022, there are currently 7,670,514 employees in the finance sector in the USA. The employment growth for finance in the USA is 2.1%. The average salary in finance is $91,866.
If you work within finance, you will get a huge number of benefits. 20 years ago, you are likely to have 4 different job roles, young people born in 2000 are likely to have more than 25 different job roles.
So, the opportunity is not always based upon the qualification, it’s the skillset that you have. If you are adaptable, flexible and you can adjust with the times, you can have a job for life within the financial sector.
The jobs in finance offer higher-than-average salaries for college graduates, along with the opportunity for career growth. There are 20 best entry level jobs in finance, so that you can choose something that fits your skills, interests and background.
1. Investment Banking Analyst
Investment Banking is one of the most prestigious areas of the financial sector, investment banking professionals assist individuals, corporations,venture capital firms, and even governments with their requirements related to capital.
Investment banks underwrite new debt and equities for all types of corporations, aid in the sales of securities, take companies public, and facilitate mergers and acquisitions, reorganisations, and broker trades for both institutions and private investors.
An analyst usually fills an entry-level role at an investment bank, hedge fund, or venture capital firm. The most common duties include producing deal-related materials, performing industry research and financial analyses of corporate performance, and collecting material for due diligence.
Recommendations based on the interpretation of financial data often play a role in determining whether certain activities or deals are feasible. The average investment banking analyst starting salary was $67,817 in November 2020, according to Pay Scale.
Candidates have B.A.s in Economics, Finance, or Management, though this is the one job where an M.A. in these areas helps too.
2. Financial Auditor
A financial auditor shares many similarities with an accountant, but there are some differences in the requirements and expectations of the two jobs in the finance sector. A financial auditor’s primary concern is ensuring that a company’s financial statements are compliant with generally accepted accounting principles (GAAP).
As such, an auditor primarily focuses on identifying fraud or errors in a company’s financial documents. In this role, an auditor may examine a company’s financial statements, accounting entries, tax returns, cash flow statements and other financial documents.
The auditor may be employed by the company itself to oversee finances, or may be brought in as an outside consultant in cases where fraud or errors are suspected. Attentiveness and a keen eye for detail will serve you well in this role.
Becoming a financial auditor usually requires a bachelor’s or master’s degree in accounting or finance. Practical accounting experience also goes a long way toward securing a better paying position in this role. Entry level auditors can expect to earn between $52,000 to $66,000 depending on their backgrounds.
3. Insurance Claim Adjusters
Insurance Claim Adjusters gather information about the circumstances surrounding insurance claims, including interviews with people involved in accidents, obtaining photographs, and the physical inspection of damages. This job has its worth in the finance sector.
They review policies to determine the level of coverage, estimate repairs, and issue determinations concerning payments to customers. Adjusters negotiate settlements with clients, attorneys, and other insurers.
The BLS estimates that there are 328,2700 jobs for insurance adjusters, appraisers, examiners, and investigators with a projected decrease of 1% in these jobs by 2026. Given the low visibility of this option with prospective graduates, competition for vacant positions is relatively low.
According to BLS insurance claims adjusters earned an average of $65,900 in May 2018, and it is expected to have more employees in this sector in future years.
4. Assistant Controllers
Assistant Controllers oversee their organisation’s accounting activities including internal audits. They must check company account data for errors and discrepancies, along with handling budgeting and resource allocation.
These roles often require a degree or college background in finance or accounting. Their core responsibilities are to verify accounts and company data to ensure compliance with financial regulations, write budget reports, and meet with chief financial officers and other company executives.
An average Assistant Controller earns around $153,268.
5. Personal Financial Advisor
A personal financial advisor works with an individual, rather than a company, to establish a financial plan. This may include creating a budget, determining the best way to manage savings, and advising on investments.
A financial advisor’s clients are usually wealthy individuals with considerable assets or an estate that needs to be managed. But some advisors may choose to specialize in a different type of clientele. They also monitor the state of client’s investments and finance and can provide advice on insurance, mortgages, college savings, estate planning, taxes, and retirement.
The majority of personal finance advisors work for themselves or as members of a firm. Their work usually consists of client meetings, and time spent in the office researching, creating financial reports or managing client investments.
This can be a “jack of all trades” finance job, which may be an exciting opportunity for the right candidate. Most personal financial advisors have a bachelor’s degree or higher in finance, accounting or a similar field.
Entry level pay starts at $44,500 and can double with time and experience in the field.
6. Budget Analyst
Budget analysts help public and private institutions organise their finances. They prepare budget reports and monitor institutional spending. Budget analysts develop cost estimates for potential future programs or expansions.
They also make recommendations for managers. Identifying areas of possible budget reductions based on analyzing past underspend budget items.
The BLS estimated that there were 58,400 budget analyst jobs in the country and predicted an increase of about 7% by 2026 which is close to the average for all occupations.
7. Financial Analyst
Financial Analysts work for investment companies, insurance companies, consulting firms, and other corporate entities. The one who is in this area is responsible for consolidating and analyzing budgets and income statement projections. They prepare reports, conduct business studies, and develop forecast models.
Financial analysts research economic conditions, industry trends, and company fundamentals. They also often recommend a course of action for investments, reducing costs, and improving financial performance.
It is compulsory to have IT skills along with B.A. in finance, accounting, or economics, for an analyst role. The BLS estimated that there were about 487,800 financial analyst jobs in the American economy in 2010 and projected a faster-than-average growth rate of 5% through 2029 for them.
As of January 2021, according to the most recent figures from the BLS, financial analysts earned a median salary of $81,590 in 2019.
8. Private Equity Partner
Private equity personnel is a business executive who works in investment banking to find potential investors, assist with acquired investments and perform due diligence with the most effective investors in the bank. They assist throughout the course of a transaction from the beginning to the end.
These professionals network with investors in order to obtain private equity which is then applied to business investments on client’s portfolios. You will most likely earn $8,000-$10,000 per month on average.
This particular one is high-paying because most investors find pleasure in putting their funds in real estate stocks. This yields huge profit in favour of the financial institution and their partners.
9. Financial Software Developer
The primary role of a Financial Software Developer is to create, modify and update software for the finance and banking industries. They collaborate with a wide range of companies to create everything from financial education software to debit or credit card software.
Talking about the requirements, in this field a bachelor’s degree in software development would be ideal. A software development degree will teach you important programming languages like JAVA and C++, scripting, data management, user experience design and other core basics.
To be qualified for these positions, you also need some experience or understanding of finances and financial software. This can be gained through internships or entry-level jobs in which you are able to work closely with financial software developers in a banking or business setting.
Since it is a technical role, it could pay you around $8,000-$15,000 per month.
10. Hedge Fund Manager
Hedge fund is a fund that employs a variety of investment techniques across asset classes in order to maximize return for a given level of risk. Hedge fund managers are expected to consistently generate a higher return regardless of market conditions
Hedge fund managers have similar responsibilities to investment bankers. But they work with higher risk and reward portfolios for investors who hold their money to invest in hedge funds.
Hedge funds managers must monitor markets in order to protect investors. So they are up early and leave the office late. Because of the high risk that applies to the nature of this job, these guys earn more.
The hedge monthly salary is about $8,000 and there may be a bonus due to a surge in ROI.
11. Senior Accountant
As a senior accountant you will be responsible for analyzing complex financial records and reports. You are in charge of a company’s accounting operations. Senior accountants oversee and verify financial transactions.
It is your duty to balance accounts, verify and confirm bank statements on behalf of the company. Senior accountants are usually at the top of an accounting hierarchy and are in charge of the day-to-day accounting duties. They are responsible for budget adherence, meeting accounting goals and overseeing corporate expenses.
Your monthly earnings on this job are always not less than $6,000.
12. Auditor Of Compliance
The compliance analyst is responsible for ensuring legal and regulatory compliance by researching, analyzing, regulatory requirements and obtaining the necessary approvals. The primary responsibility of this role is on the company for compliance with various governing agencies standards.
This is because long-term economic stability and financial growth rely on established standards. The finance industry is highly regulated. A Compliance Auditor earns around $5,500 at the end of each month.
13. IT Audition
An IT Auditor is in charge of analyzing and assessing a company’s technological structure and designs to ensure that processes and systems run correctly and efficiently. It is a stress-free type of job and also consumes minimum time.
An IT Auditor also identifies any IT issues that are covered by the Audit, particularly those concerning security and risk management. If problems are discovered, IT Auditors must communicate their findings to others in the organisation. Offer solutions to improve or change processes and systems to ensure security and compliance.
To be gainfully employed in this role, you need a bachelor’s degree in computer science, management information systems, accounting or finance. For entry level IT Auditor positions, you should have a solid background IT or IS as well as experience in public accounting or internal auditing.
As an IT Auditor, your monthly salary will be around $7,500. You may also expect more though.
14. Mutual Fund Analyst
A Mutual Fund Analyst is someone who would be working in a particular mutual fund evaluating securities. It could be stocks or bonds and then either making the decision or helping to inform the decision making process that if that fund should invest client’s dollars into that security.
Becoming an analyst on a mutual fund team is also fairly accessible because it is common for people to get into that role from the distribution side of the mutual fund and becoming a sales person for the mutual fund.
Realistically, you could work your way into an internal wholesaler role and support someone selling the mutual fund directly to wealth management advisors. An average Mutual Fund Analyst makes $60,546 an year.
15. Risk Manager
Risk management professionals are competent in identifying market risks and recognizing poor investment outcomes. Their primary duty is to maximize returns and minimize risks strategically.
The job roles can be divided into: Financial Risk Manager, Enterprise Risk Manager, Supply Chain Manager, Operational Risk Manager, Digital Risk Manager. Risk Management is an in-demand profession in many countries.
Average salary of a Risk Manager is $104,254.
16. Portfolio Management
Portfolio Management requires knowledge of business, mathematics and analytics. As a portfolio manager, you do not pour over individual investments, but look at the overall investment mix of your clients, who may be institutions or individuals.
It is also recommended to get training in statistics and refine your mathematics skills to pursue portfolio management jobs. An average salary of a Portfolio Manager is $100,810.
17. Corporate Finance
Corporate Finance deals with funding sources, investment decisions and capital restructuring. The critical job functions in this profession include
- Balancing risk and profitability.
- Analysing and forecasting economic trends.
- Reviewing company reports and suggesting improvement measures.
- Maximize value of stock.
- Managing funds and selecting investment portfolios.
- Performing tasks related to financial risk management.
Corporate finance professionals are hired in junior and senior capacities, depending on their educational qualifications, acquired skills and interests. An average salary of a Corporate Financier is $85,775.
18. Commercial Banker
Commercial Banks provide a host of services to individuals and businesses. The offerings range from savings and current account facilities, to debit and credit cards, to personal, home, education and other loans.
There are several types of roles, each one requiring different skill sets in the banking sectors. The most popular posts include, Credit Analyst, Banking Associate, Account Manager, Trust Officer, Bank Teller, Mortgage Banker, and Branch Manager.
The primary duty of bank personnel is to maintain relationships with the bank’s existing customers and find new clients to keep the business running. The average salary of a commercial banker is $95,012.
19. Equity Research Analyst
The word equity is just a fancy word for stock. So, taken together, equity research just means stock research. The job is exactly what it sounds like where you research stocks. Entry level analysts make approximately $120,000 in their first year.
The work in equity research is very similar work at an equity hedge fund. You are researching a stock. You mostly do the same thing the investment professionals that hedge funds do. Screening stocks, reading company reports, analysing financials, talking to management teams and industry experts etc.
While the work is very much similar, you are doing it in a different capacity. In equity research, you are doing the research and analysis to publish it into a report which your firm then sells to clients. You are basically for your clients and educating them about different stocks.
You are in the business of selling your homework and unfortunately selling your research reports to clients just isn’t as profitable of a business model as investment management. The business just doesn’t make as much money as one that manages and invests other people’s money.
That’s why Equity Research Analysts tend to make a lot less than Hedge Fund Investment Professionals because their companies make a lot less money than Hedge Funds. It has less to do with our own capability and much more to do with how much profits their employers make.
The good thing about the Equity Research Analyst program is that it’s often a feeder into Hedge Fund Investment Analyst roles. It’s very rare and very difficult to get a Hedge Fund role without prior investment banking, private equity or equity research experience.
Equity Research entry level jobs will provide you with a fantastic learning experience and a strong foundation on which you can launch a career in investing.
20. Trading
Trading entails buying and selling securities. So, these might be things like stocks or bonds or more complex things. It’s either you trade your money or your company’s money or you can also trade on behalf of clients.
The job is known to be quite stressful and that’s mainly because you are dealing with money. That money goes up just like it goes down sometimes, which can be very unpredictable and stressful for some people.
You are constantly measured on your performance, it’s very obvious to tell if you are winning or losing money because all you have to do is look at your account. Skills that are required for this role are to mingle with numbers, being a really fast thinker, fast decision maker because you can win and lose money in just a couple of seconds.
Salary varies a lot in this role and that’s because some people make tons of money through bonuses while others don’t make that much, if they are not much good at it. On an average a Trader can earn around $70,000-$100,000.
