Are you passionate about financial markets, stocks, bonds, and other investment vehicles? Do you love crunching numbers? Then a finance major might be a good fit for you.
Financial degree Jobs can be highly lucrative which is why many people are tripping into the industry yet there’s still a wide market for individuals with a finance degree. At a minimum, most jobs in finance require a four-year degree, and many professionals have advanced degrees in business, math, economics, or statistics.
In the finance world, you can choose several degrees depending on your specific interests.
If you’re wondering what you can do with a finance degree then you need to carefully peruse through this piece because in this article you shall be learning about the high-paying finance degree jobs that are available for the finance major. Quickly let’s delve in.
Table of contents
What Is Finance?
According to Wikipedia, finance is defined as the management, creation, and study of money and investments. It deals with the questions of how an individual, company, or government acquires money and how they spend or invest that money. Finance is often divided into personal, corporate, and public finance.
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Why get a Finance Degree?
The BLS predicts a 5% projected employment growth for finance degree jobs between 2019 to 2029 and this is faster than the overall average for general occupations.
The financial sector will continue to experience a bull run as long as trading or buying and selling is concerned; as such, the demand for graduates with a finance degree will continue to see an upward movement, so if you’re passionate about crunching numbers, economics, statistics, or doing things that are related to finance then, taking a career in finance may be a good fit for you.
Most jobs in finance require a bachelor’s degree, and in four years, you can study and be awarded a bachelor’s degree in finance, giving you the leverage to work in diverse industries that have to do with finance.
You can even advance your career by getting a Master’s or Doctorate degree in several niches in the finance industry.
Finally, in finance, you can decide to work in either the public or corporate industry or your company. From financial planning to investment banking and insurance, people who major in finance have a lot of finance degree job options that they can choose from.
So let’s look at the types of finance degrees.
What Are The Types of Finance Degrees
In the finance world, there are numerous niches you can choose to focus on depending on your specific interests.
A bachelor’s degree in finance will prepare you for entry-level work in the finance industry, whereas a master’s degree in finance or a doctorate degree in finance will make you better suited for management or instructor roles in this field. Below are the three main types of finance degrees you can pursue:
1. Bachelor’s Degree in Finance
A bachelor’s degree in finance is usually the most common requirement to pursue a career in finance. This degree usually takes four years to complete. While a bachelor’s degree in finance will build upon your finance skills, you will also be taught leadership and communication skills that complement and balance your financial abilities.
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Why Should I Get a Bachelor’s Degree in Finance?
To be considered for a lot of entry-level finance degree jobs, a bachelor’s degree is required, as such a bachelor’s degree in finance will prepare you with the basic foundation and knowledge you will need to succeed in your finance career.
In addition, obtaining a bachelor’s degree in finance also allows you to advance your career later on if you choose to do so.
2. Master’s Degree in Finance
Completing a bachelor’s degree in finance qualifies you to pursue a master’s degree in finance. This degree takes two years to complete and it’s built on the fundamentals of finance by focusing on specific areas of finance.
Why Get a Master’s Degree in Finance?
If you want an edge over your competition in the financial market, a master’s degree in finance will set you apart from your bachelor’s degree counterparts. A master’s degree in finance will better prepare you for specific roles within the finance industry such as trading, investments, or risk management positions.
3. Doctorate Degree in Finance
A doctorate in finance is another peak that’ll open you to a lot of finance degree jobs. At the doctorate level, you can decide to become a financial researcher or even a financial instructor. It is a legal claim that makes you qualified for almost any position in the financial sector. A doctorate degree in finance takes an additional four to five years to complete after obtaining your bachelor’s and master’s degrees.
Doctorate graduates in finance can command a whopping salary of over $180,000 annually in the professional world.
Why Get a Doctorate Degree in Finance?
If you are seeking an instructional or research-based position in finance, getting a doctorate degree in finance is none negotiable. It prepares and makes you fit for any role within the financial world. Many who choose to pursue a doctorate degree in finance usually have an interest in instructional roles or selective research.
What Are The Top Skills For Finance Majors?
Finance majors develop analytical skills to dissect and interpret financial statements and appraise the financial standing of companies, municipalities, and other entities. They examine the quantitative and qualitative volumes of business problems and analyze the financial cost of corporate and individual actions.
Financial degree graduates must ensure they build competency to deal with spreadsheets and other software that is used to represent and process financial data.
They must ensure they can present financial information to their clients and colleagues with varying levels of financial refinement.
An understanding of the different types of financial settings will also play a vital role in determining where you would like to focus your financial career and the financial degree jobs to go for. Below are the top 10 skills that are vital in the finance industry.
- Accounting Qualifications/Certifications
- Management Skills
- Communication Skills
- Innovative Skills
- Interpersonal Skills
- Financial Forecast Reporting
- Analytics Capabilities
- Strong Problem Solving Skills
- Business Savvy
- Software Skills
Having known the top skills required for financial degree jobs it’s also necessary to look at the top finance degree jobs.
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What Are The Top 10 Finance Degree Jobs?
Here are the top finance degree jobs to consider as you explore careers in the finance industry:
- Chief Financial Officer (CFO)
- Financial planner
- Financial Analyst
- Budget Analyst
- Investor Relations Associate
- Credit Analyst
- Commercial Real Estate Agent
- Business Teacher
1. Chief Financial Officer
A chief financial officer (CFO) is saddled with the responsibility of tracking a company’s profits and deficits and developing a strategy to maintain financial success. One key aspect of a chief financial officer is their managerial skills which they deploy to oversee a team of employees. CFOs earn an average salary of $128,400, annually making it one of the highest-paid finance degree jobs.
Actuaries also rank among the top finance degree jobs on the list; as such, they play a management role in financial businesses such as banking, insurance, accounting firms, and rating agencies. A Finance major with mathematical solid skills is ideally positioned to calculate the likelihood of several circumstances and to assess the financial consequences for those outcomes.
Actuaries manipulate software to perform calculations and represent their findings, present their findings to managers of the company’s they work for and convince others of the solidity of their findings.
On average, actuaries earn a whopping $108,345, with a 19% projected jobs growth from now to 2029, if you’re passionate about the financial world taking a finance career as an actuary might be a good option to consider.
3. Financial Planner
Finance majors learn about several types of investment, which helps financial planners advise their clients on how to manage their finances.
Financial planners often apply the principles of accounting to analyze trends in the security market and as well fabricate plans based on the analysis which will be suitable for individual investors and stand as guides in their planning sessions.
Finance majors with strong interpersonal skills and persuasive abilities will most likely succeed in this profession because they need to spur up trust in people and promote their services.
According to the Bureau of Labor Statistics (BLS), jobs for financial planners are projected to experience a 4% growth through 2029, and they earn an average salary of $87,850, making it one of the highest-paid finance degree jobs.
4. Financial Analyst
Financial analysts research stocks, bonds, companies, and industries to assist investors, bankers, and corporate finance officers with mergers, acquisitions, stock/bond offerings, corporate expansions, and restructuring. They maximize their finance major training to examine financial statements and other financial data.
Financial analysts conduct complex quantitative analyses to build financial models and produce reports according to their findings as they present their analyses to other finance or banking team members.
Expert predicts a 5% growth for financial analyst jobs in 2029, and they earn an average annual salary of $81,500, making it also rank among the top financial degree jobs.
5. Budget Analyst
Budget analysts apply principles of finance to project proposals in the business, governmental, educational, and non-profit sectors. They analyze budgets and evaluate the financial impact of continuing enterprises and new ventures.
Budget analysts use their analytical and communication skills to interview managers to gather information for proposals. They also train staff regarding the budget development processes for their organization.
A budget analyst earns an average salary of $76,530, with a 3% projected jobs growth through 2029 making it ranked among the highest paying finance degree job on the list.
6. Credit Analyst
Credit analysts analyze the financial standing of loan prospects and evaluate the risks involved in offering the loan. They learn to appraise the financial viability of entities and interpret their financial data and records.
They use their communication skills to get information from prospective clients and convey their analysis to their organizations.
Credit analysts earn a median salary of $73,600, annually making it also among the top finance degree jobs you can find.
An accountant is saddled with the responsibility of keeping and interpreting financial records. Most accountants are responsible for a wide range of finance-related tasks for individual clients or larger businesses and organizations.
To take a career as an accountant, you will have to earn at least a bachelor’s degree in accounting and you can decide to major as a public accountant, management accountant, or government accountant. In addition, to be a certified public accountant (CPA) you just passed the CPA exam and met state licensing requirements.
Experts predict a 4% growth for accounting jobs and they earn an average salary of $71,500, annually making it one of the highest-paid finance degree jobs.
8. Investor Relations Associate
Finance degree graduates with strong organizational, writing, and communication skills can thrive in this role. Investor relations professionals are saddled with the responsibility of preparing and presenting financial data about their company to analysts, investors, and business media.
Investor relations professionals often maximize analytical and software tools developed through their finance major training to digest, interpret, highlight, and present information from financial statements.
At the start of their career, investor relations associates earn an average salary of $61,000, making it also rank among the top finance degree jobs, and the salary increases as you advance in career and experience.
9. Commercial Real Estate Agent
If you’re sales-oriented and have good verbal skills then, you should consider a career as a commercial real estate agent. Commercial real estate agents analyze clients’ financial status and business plan to recommend appropriate spaces for their enterprises.
When listing a property, brokers must estimate the property’s value based on its financial potential for prospective buyers. Agents advise clients about options for financing property acquisitions and launching new businesses.
On average, commercial real estate agents earn a salary of about $41,900 making it rank among the top finance degree jobs.
10. Business Teacher
Business teachers tap a broad business knowledge as they instruct high school students about the fundamentals of accounting, management, marketing, and investments.
Finance majors with a curiosity about the business world and an enthusiasm for business issues are well suited for this role. Individuals who earn advanced degrees in business can also pursue teaching jobs at junior and four-year colleges. Business teachers earn an average salary of $41,654, per annum.
Bottom Line on the Highest-Paid Bachelor Degree Jobs
The finance world is a big ecosystem to mint good money although, making your way into the finance industry takes intense work and commitment because it’s a highly competitive industry.
Grow, build competence and credibility as much as you can and guard yourself with up-to-date knowledge on trends in your specific finance field.
If you can pursue further education, be optimistic, and don’t panic if your first job isn’t your dream job. Stay true to your course as you climb high into the finance world because you can bag a lot of money in the financial sector.
Frequently Asked Questions on Finance Degree Jobs
The highest paying finance degree jobs are investment bankers, actuaries, chief financial officers, and financial analysts.
An accountant typically works with taxes, audits, and budgets daily and provides a financial report on the evolving success of their business. While a financial analyst focuses on stocks and bonds and deduces good investment strategies to ensure that their finances grow with the evolving market. Finance focuses on a wider range of investment management.
Yes, you can get a CPA with a finance degree. A bachelor’s degree in finance will qualify you to sit for the CPA exam.
Since it’s an undergraduate degree, It takes four years to get a bachelor’s degree in finance, but if you decide to advance, a Master’s degree in finance takes two years to get.
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