For most people in search of career advancement or a job in a different industry, the decisive factor often boils down to one thing: money. And it should come as little surprise that positions in the finance industry tend to pay rather well in comparison to positions at similar levels in other industries. In other words, if you want to step up a few tax brackets, a finance career path may be just what you\u2019ve been looking for.<\/p>\n\n\n\n
While you can make a very fine living as an accountant or loan officer, if you want a finance job that commands a higher salary, you may want to consider becoming a management or compliance analyst. However, even these high-paying positions pale in comparison to the massive salaries that the world\u2019s top finance leaders command.<\/p>\n\n\n\n
Although it may take a while to reach any of the top ten best-paying jobs listed below, the years you spend in academic training and garnering professional expertise can pay serious dividends if you are diligent and persistent. After all, neither professional nor financial dreams tend to come to fruition overnight!<\/p>\n\n\n\n
According to the most recent data from the\u00a0US Bureau of Labor Statistics<\/a>,\u00a0the median annual salary for business and finance occupations is between $76,570 and $88,160. This means that even entry-level positions in the finance sector are significantly more lucrative than jobs in most other sectors.<\/p>\n\n\n\n While many lower-level finance positions require only an undergraduate degree, you can expand your career prospects considerably with a Master of Business Administration (MBA) or another relevant graduate degree. In fact, respected graduate programs such as those at the University of Tennessee at Chattanooga (UTC)\u00a0tend to offer an\u00a0MBA with a concentration in finance<\/a>.<\/p>\n\n\n\n With the proper college education and professional experience, you can climb up the career ladder to find a job you love that pays you well for doing it.<\/p>\n\n\n\n If you want a bit of inspiration as you ascend the finance industry career ladder, you\u2019ll want to consider the top 10 best-paying jobs that the industry has to offer. By matching your professional ambitions and finance skill set to one of these positions, there\u2019s no telling what you might be able to accomplish!<\/p>\n\n\n\n Although you may have to work your way through a handful of promotions before you become a serious contender for this position, the rewards associated with work as a\u00a0chief financial officer\u00a0(CFO) are considerable. In fact, the independent employee feedback resource\u00a0Top Workplaces<\/a>\u00a0estimates the average yearly salary for a CFO to range between $314,481 and $528,583. The top finance position in most large companies, the CFO generally heads all finance operations and strategies, from budgeting and analysis to accounting and compliance. In addition to acquiring an MBA, aspiring CFOs may want to consider a Certified Public\u00a0Accountant\u00a0(CPA), Chartered\u00a0Financial Analyst\u00a0(CFA), Certified Management\u00a0Accountant\u00a0(CMA), and\/or Chartered Global Management\u00a0Accountant\u00a0(CGMA) designation.<\/p>\n\n\n\n Another C-suite position, the chief compliance officer (CCO) of a company oversees all policy management and operational monitoring related to government and industry compliance standards and requirements for finance processing and reporting. All this responsibility warrants quite a hefty paycheck. According to Top Workplaces<\/a>, you can expect to command between $197,001 and $278,101 per year as a CCO. To increase your chances of rising to this top position, you should secure an MBA and perhaps become a Certified Regulatory Compliance Manager (CRCM) or obtain Series 14 licensure through the Financial Industry Regulatory Authority (FINRA).<\/p>\n\n\n\n With an average annual salary<\/a> that falls between $86,006 and $130,045,\u00a0hedge fund\u00a0managers out-earn most other finance professionals outside of the senior administrative boardroom. However, they often earn this salary in the form of long, irregular work hours as they strive tirelessly to monitor financial markets and protect investor assets. The principal responsibilities of the\u00a0hedge fund\u00a0manager range from balancing investor ROI goals with liquidity demands to avoiding the accrual of unnecessary transaction fees. Aspiring\u00a0hedge fund\u00a0managers can benefit from an MBA, a CFA, and any number of investment industry credentials.<\/p>\n\n\n\n The Career Guide of the online job marketplace\u00a0Indeed<\/a>\u00a0reports that the typical information technology (IT) auditor makes $101,751 per year in the United States. These professionals work for both public and private originations to ensure that all digital technology meets financial compliance and other enterprise needs. IT\u00a0auditors\u00a0must have a strong knowledge of operating systems and web technologies, as well as internal auditing, analytics, and other financial matters. Consider getting a Certified Information Systems Auditor (CISA) or a Certified in Risk and Information Systems Control (CRISC) credential if you want a career in IT auditing.<\/p>\n\n\n\n Private equity\u00a0associates occupy niche positions with investment banks, networking with affiliated investors to acquire\u00a0private equity\u00a0for promising businesses. While these businesses receive essential funding, the investors benefit by adding to their diversified portfolio of assets. Both Top Workplaces<\/a> and Indeed<\/a> calculate the average\u00a0private equity\u00a0associate salary at just under $100,000 per year. Many\u00a0private equity\u00a0associates have an MBA as well as a CFA and\/or a Certified\u00a0Private Equity\u00a0Professional (CPEP) designation.<\/p>\n\n\n\n There is a wide range of earning potential among financial\u00a0advisors. This fact reflects the wide disparity of wealth in the United States, as different financial\u00a0advisors\u00a0in various sectors representing diverse populations of investors stand to have radically different incomes. Indeed<\/a> calculates the average salary of an American\u00a0financial advisor\u00a0at just over $74,000 per year, while Top Workplaces<\/a> claims the average salary range tops out at $147,000. In addition to completing undergraduate and possibly graduate-level finance programs, financial\u00a0advisors\u00a0commonly hold Series 7, Series 63, and Series 65 FINRA licensure.<\/p>\n\n\n\n Occupying a unique place in the rapidly growing financial technology (fintech) space, financial software developers average $93,817 per year, according to Indeed<\/a>. Some of these developers come from a more technical background, others possess more finance expertise, but the most successful benefit from a balanced combination of both. To best meet the needs of the financial institutions and end-users who benefit from their digital programs and platforms, financial software developers hold a wide variety of college degrees and industry designations.<\/p>\n\n\n\n Making roughly $67,000 to $89,000 per year according to Top Workplaces<\/a> and Indeed<\/a>, the average\u00a0investment banker\u00a0brings home significantly less than the average\u00a0hedge fund\u00a0manager, even though they both manage pooled capital investments, The discrepancy in pay reflects the generally lower levels of risk and reward (and therefore stress) that the portfolios of investment bankers present. Investment bankers can benefit from an MBA as well as Series 7, Series 63, Series 66, and Series 79 licenses through FINRA.<\/p>\n\n\n\n Like financial\u00a0advisors, insurance\u00a0advisors\u00a0have a diverse array of professional focuses and client bases that create a tremendous amount of discrepancy in salaries. However, it is safe to assume that you can make between roughly $50,000 and $90,000 annually as an insurance advisor according to Top Workplaces<\/a> and Indeed<\/a>. These professionals help customers find insurance products to meet their specific needs in areas that include health, life, home, auto, and investments. Key credentials for an insurance advisor include the Certified Insurance Counselor (CIC), Certified Insurance Service Representative (CISR), and Accredited Advisor in Insurance (AAI).<\/p>\n\n\n\n Commanding a salary range<\/a> of roughly $67,000 to $82,000 per year, financial analysts commonly work under CFOs to catalog and evaluate personal or business assets while ensuring full compliance with all relevant legal and regulatory standards. Their specific areas of expertise may include corporate valuation, SEC filings, data analytics, and financial modeling, among other financial matters. Financial analysts hold bachelor\u2019s degrees in finance-related fields and often MBAs or other relevant graduate degrees. They might also hold any combination of Series 7, Series 63, and Series 65 FINRA-specific product licenses.<\/p>\n\n\n\n With the right university degree and professional certification, you can reach incredible professional heights in today\u2019s finance sector. An MBA with a concentration in finance from the UTC Gary W. Rollins College of Business<\/a> can open countless career doors for the hardworking and ambitious.<\/p>\n\n\n\n An MBA program in finance exposes students to the same general principles and basic training as a general MBA, then goes beyond to provide comprehensive targeted training in the field of finance. The finance MBA<\/a> at UTC requires students to take a total of nine elective credit hours that cover topics ranging from US financial institutions to international financial management.<\/p>\n\n\n\n To learn more about our finance MBA and the other MBA program options at the UTC Gary W. Rollins College of Business, visit our official MBA homepage<\/a> today.<\/p>\n","protected":false},"excerpt":{"rendered":" For most people in search of career advancement or a job in a different industry, the decisive factor often boils down to one thing: money. And it should come as little surprise that positions in the finance industry tend to pay rather well in comparison to positions at similar levels in other industries. In other… <\/p>\nThe 10\u00a0Best-Paying\u00a0Finance Jobs<\/h2>\n\n\n\n
1. Chief Financial Officer<\/h3>\n\n\n\n
2. Chief Compliance Officer<\/h3>\n\n\n\n
3. Hedge Fund Manager<\/h3>\n\n\n\n
4. Information Technology Auditor<\/h3>\n\n\n\n
5. Private Equity Associate<\/h3>\n\n\n\n
6. Financial Advisor<\/h3>\n\n\n\n
7. Financial Software Developer<\/h3>\n\n\n\n
8. Investment Banker<\/h3>\n\n\n\n
9. Insurance Advisor<\/h3>\n\n\n\n
10. Financial Analyst<\/h3>\n\n\n\n
Ready to Expand Your Finance Career? Earn Your Finance MBA at UTC<\/h2>\n\n\n\n