Everyone in life has a different calling. Some are drawn to the arts while others thrive in politics. But if there’s one path that’s proven more lucrative than most, it’s having a career in finance.
When a job is monetarily rewarding, people automatically think that it’s dull and boring. But for people who love numbers, the fact that they earn more is just an added bonus (pun intended).
So, if you’re great with math and would like to find a career in finance, then you’ve come to the right place. Here are the top choices for you.
12. Management Accountant
Average salary: $58,509 | £45,920
Management accountants are in charge of handling sensitive financial documents. They also advise leaders of companies on how to better manage their finances, make strategic business decisions and create budgets. To succeed in this role, you’ll need to work your way up the ladder from a financial accountant.
11. Personal Financial Advisor
Average salary: $60,697 | £47,634
As the name suggests, financial advisors help people achieve their goals by assessing their financial needs and advising them on their investments. Apart from knowing economic trends, advisors must also have great interpersonal skills in order to gain their clients’ trust and make them feel comfortable when making big financial decisions.
Average salary: $73,682 | £57,822
If you love data and analysing economic trends, this could be the ideal job for you! Economists are trained to collect data on how a specific society or a country distributes and utilizes its resources. By analysing this data, they’re able to create economic forecasts and strategies to help drive economic growth. To succeed in this role, you must be able to write reports and have knowledge of basic mathematical modelling techniques.
9. Internal Auditor
Average salary: $74,020 | £58,000
To be an auditor, you should have great attention to detail and be investigative by nature in order to identify signs of fraud and intentional misstatements. As a professional in this field you’ll also validate other accountants’ works and see if there are any discrepancies.
To earn more money as an auditor, it would be best to find work within a large organisation. Internal auditors are compensated well because they’re entitled to other benefits like bonuses and the 13th-month salary.
8. Financial Software Developer
Average salary: $81,860 | £64,160
Do you love coding, solving problems and creating a safer online environment for financial users? If so, becoming a financial software developer should be on the top of your list. As a developer, you’ll be responsible for creating and modifying programs that are used within the financial industry; which can include portals like bank websites, payment gateways and credit card processors.
Average salary: $84,924 | £64,737
The path to becoming an actuary is a long and arduous process but if you’re great with numbers and have a knack for steering people into making better decisions, then this is definitely the job for you. To succeed, you’d need to undergo meticulous training to better analyse and calculate risks but you’d get compensated very well for ensuring that insurance companies and other businesses don’t go bankrupt.
6. Product Development Specialist
Average salary: $84,969 | £66,701
Product developers identify and develop new opportunities for financial products through research and market analysis. They must always keep a pulse on their customers’ needs and create new products that cater to them. While challenging, product developers thrive in competitive environments and love innovation.
5. Corporate M&A Manager
Average salary: $98,000 | £76,853
As its name suggests, Merger & Acquisitions (M&A) managers are responsible for consolidating or acquiring business assets and investments for the good of the company they’re working for. Depending on the status of the company, they may either recommend to downsize or grow a business based on their analysis. Their other duties include conducting research on market conditions, providing financial solutions and identifying strategic opportunities to invest or divest.
4. Equity Research Analyst
Average salary: $133,000 | £104,336
If you love data and would like to use your knowledge to advise some of the world’s top decision-makers, you could consider becoming an equity research analysts. Equity research analysts are crucial in making wise investment decisions and help drive the sales of the company, and increase trading activity by monitoring and analysing companies across a variety of industries. They create financial reports, spot trends and provide a valuation analysis for investors and hedge fund managers. Apart from that, they also present and hold regular meetings with CFOs and CEOs to discuss their recommendations.
3. Bank Traders
Average salary: $145,000 | £113,740
There are many kinds of traders as there are different kinds of trading but the ones that get the most earnings work for Corporate or Investment Banking. Essentially, a trader’s job involves buying and selling financial products like bonds, assets or shares for the company or client they work for.
To be a trader, you need to be a confident and straightforward risk-takers. If you have these qualities and impeccable mathematical skills, then you can make a killing as a trader.
2. Investment Brokers
Average salary: $157,000 | £122,194
As a broker you’ll mediate between buyers and sellers, meaning that great customer service skills are essential for the job. Your main duties will be to execute trades for clients or investors, and you can choose to work independently or for a big brokerage firm like Merrill Lynch or Charles Schwab, depending on the work-life balance that you want.
On top of their basic salary, investment brokers make hefty commissions on the investments they pursue which is why they’re ranked high in the list of top earners in the financial industry.
1. Hedge Fund Managers
Average salary: $158,104 | £124,000
In essence, a hedge fund manager oversees the operations of an investment partnership which generally happens between the fund manager or general partner and the limited partners, also called investors. Their primary role is to maximize returns for their client. Apart from getting paid a management fee, hedge fund managers also get a certain percentage from what they earn for their investors which makes a large portion of their earnings.
So, if you’re the type who can handle big money and even bigger personalities, then this is a great choice.
Unsurprisingly, all the gigs listed above come with a hefty paycheck but in order to survive in the financial world, you need to have a love for a number and a specific type of personality. If you have the tools to succeed, financial jobs can lead to an encouraging and rewarding career.
What kind of career in finance would you like to have? Let us know in the comments section below.
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Salary information is based on data compiled and published by PayScale and Emolument. Currency conversions are based on rates supplied by XE.com on 13 August 2018.