According to statistics from the US department of labour, jobs in the finance sector are predicted to increase by 8 percent by 2024. The study also revealed that the median salary for finance careers was $65,710 per year compared to the median salary for all occupations which stood at $36,200 per year. Salaries vary from country to country. The salary figures presented here are for people working in the United States.
1) Chief Investment Officer
A chief investment officer earns between $98,000 and $306,000. The median salary is $146,000 per year. The main role of chief investment officer is to raise capital and negotiate deals on behalf of the company. They are equally responsible for designing investment portfolio in accordance with the company’s goals.
2) Vice President, Finance
The vice president finance of a company is close to the apex of a business structure. They earn between $89,000 and $237,000 per year. This means that an average earning vice president will pocket about $134,000 per year. Part of their work is to minimize spending and ensure profitability of the business is maintained.
3) Chief Financial Officer
Chief financial officers earn between $70,000 and $257,000 per year. The median pay is $127,000 per year. The main roles include overseeing the financial operations of the company and the provision of leadership to the accounts and finance departments so that they can operate efficiently and in accordance with the company’s goals.
4) Finance Director
The salary of a finance director ranges between $56,000 and $182,000 per year. This translates to a median salary of $108,000. Part of a finance director’s work is financial modelling, strategic planning, and forecasting.
5) Financial Controller
The work of a financial controller involves the management of a company’s financial departments. The department includes accounting department, audit department, and budget department. A financial controller earns between $51,000 and $125,000, translating to an annual median pay of $80,000.
6) Senior Accountant
The salary of a senior accountant ranges from $51,000 to $82.000. In effect, an averagely paid senior accountant earns $65,000 per year. Some of their roles include ensuring that the company is always financially organized and supervising other accountants in the firm.
7) Investment Analyst
Investment analysts earn between $44,000 and $102,000. The median salary for a person in this career is $61,000 per year. The main role of this professional is to review and approve investment products. They also undertake research and analysis to evaluate how the company is performing financially.
8) Financial Planner
A financial planner earns a salary of between $40,000 and 120,000 per year. The median salary is $61,000 per year. Their main role is to offer investment advice to customers and sometimes invest on their behalf especially when he/she works for an investment company.
9) Bank manager
A bank manager is charged with the responsibility of overseeing the day to day operations of a bank branch. Their salary ranges between $47,000-87,000 per year. This translates to an average of $60,000. In addition to overseeing the administration of a bank’s policies within their branch, they also supervise other employees
10) Account Executives
Account executives earn between $35,000 and $99,000 per year. This makes their median salary to be about $50,000 per year. However, some companies such as Proctor and gamble pay account executives an average of up to $90,000 per year.
If you have passion in finance and have been wondering which specific area to specialize in, this information will help you to make an informed decision. The variation in the salaries is dependent on skills, employer, experience and the region in which you work.