The Top 13 Best-Paying Jobs in Finance in 2024

Finance is one of the most favored career paths chosen by students all around the world. This popularity is owed to the high salaries, stable job market, and rewarding benefits a long-term career in the finance industry brings. 

However, this industry is also one of the most cutthroat in terms of competition, with each entrant more qualified than the last. The following list of the best paying jobs in finance in 2023 for all recent graduates looking to start their careers in the direction that will give them the most financial success

Why Choose Finance as a Career Path?

Unlike other industries that may become obsolete with time, finance is a field that never dies, as the entire industry revolves around money. Whether there is an economic boom or recession, people will always be looking for advice on how to invest their money. This industry is also very vast and there are multiple occupations an entrant can specialize in.

The four major career pathways in the finance cluster are banking and related services, business financial management, financial and investment planning, and insurance services. Each pathway varies in the salaries, hours, and benefits they offer.

Best Paying Jobs In Finance

Now, let’s take a look at the following list to find out more about the top paying jobs in finance in 2023:

1. Financial Analyst

One of the most in demand jobs in the finance sector is that of a financial analyst. As the name suggests, financial analysts are responsible for guiding their clients to making the best financial decisions. The advice they offer comes after careful calculation of previous investments, current economic trends, and business goals the company or individual may have. Their job description consists of a variety of different tasks like creating presentations, gathering data, generating reports, and forecasting future trends. 

Financial analysts are hired by organizations to analyze their current financial position and provide solutions on how to grow capital efficiently. It is a well paying job with salaries averaging about $70,000 a year.

2. Investment Banker

Investment banking is a field that is notorious for its high stakes and higher salaries. One of the best jobs to opt for in the finance industry in terms of pay, investment bankers are primarily responsible for fundraising capital for their clients. These clients range from private companies and organizations to even governments. Other duties an investment banker may have is conducting research and valuations, providing advisory services, and assisting in mergers and acquisitions.

Even at an entry level position, investment  bankers can make six figure salaries a year, making it one of the best paid jobs in the world of finance. Additionally, this job comes with many benefits and additional bonuses awarded multiple times a year. As of August 2022, an investment banker in the United States earns on average an annual salary of $102,000 according to pay scale data.  

3. Hedge-fund Manager

Hedge fund managers oversee the activities of a hedge fund, which are investment pools that contain the investment of multiple partners. The goal of a hedge fund is to help all the members achieve returns on their investments using a variety of different trading strategies which are often very risky. These tactics include long/short equity, market neutral, and merger arbitrage.

A hedge fund is often seen buying assets with borrowed money and short selling stocks for maximum gains. The clientele of a hedge fund is typically very wealthy and managers of hedge funds charge accordingly. 

To succeed as a hedge fund manager, being well versed in financial market trends and portfolio construction is essential. It is a job that deals with high value risks on a daily basis. The  salaries of hedge fund managers range from $150,000 a year to north of $500,000 on average, depending on economic conditions and clientele. 

4. Private Equity Associate

A position that falls under the umbrella of investment banking, private equity associates are some of the highest paid professionals in finance. This job requires not only top-notch knowledge on current economic conditions but also soft skills like relationship building and lobbying. The complex nature of this profession is what makes it so rewarding. 

Private equity associates are tasked with recruiting investors for a particular firm. This requires them to persuade potential candidates by forming relations with them. In addition, this job requires ample knowledge of the equity market as private equity associates are responsible for providing advice and guidance to existing clients too.

This is not a job that a fresh graduate can tackle and requires a seasoned experienced professional to execute. Salaries of private equity associates range between $135,000 to $155,000, not to mention additional performance bonuses throughout the year.

5. Personal Financial Advisor

Personal financial advisors deal with an array of clients who wish to receive any type of financial advice. These clients include parents looking to save a college fund for their children, adults saving for retirement, and business owners looking for advice on how to grow their investments. 

To succeed in this field, personal financial advisors should have strong interpersonal skills and stellar communication, as their work revolves around speaking to clients and explaining to them their future options. Depending on their clientele and niche, a personal financial advisor can make anywhere between $60,000 to $150,000 a year.  

6. Budget Analyst

Hired by companies to keep their finances in check, the work of a budget analyst is essential in making sure everything runs smoothly. Tasks like tracking expenses, ensuring compliance of regulations, and analyzing spending trends to see how money can be saved are all a part of a budget analyst’s job. Organizations place their financial future in the hands of budget analysts, and they are trusted with providing accurate feedback and proposing efficient solutions. 

Typically, a budget analyst’s salary ranges between $50,000 to $120,000 a year. In addition, it is one of the more stable positions in the finance industry.

7. Management Analyst

Often referred to as management consultants, management analysts are highly paid in finance positions. They are hired to take a look at the current state of a company’s structure and provide managerial solutions to tackle them.

While budget analysts are only concerned with examining the financial aspect of an organization, management analysts are tasked with profiling the company’s formation as a whole. After careful analysis of the systems in place, these professionals provide recommendations on how to boost efficiency and improve communication both internally and externally.

A management analyst makes on average $95,000 a year, but more experienced professionals earn even more.

8. Loan Officer

Loan officers are employed by institutions that require loan approval on a regular basis. Examples of entities where a loan officer would be found are credit unions, mortgage companies, independent lenders, and banks. The primary job description of a loan officer is to assist interested applicants in applying for a loan.

A loan officer is responsible for evaluating a candidate’s employment history, credit history, current financial situation, and other eligibility criteria. Recommendation for loan approval is provided by the loan officer, so it is an important position to hold at any organization. 

Salaries of loan officers range from $50,000 at a beginner’s level to upwards of $150,000 at a more advanced position a year.

9. Chief Financial Officer

Arguably the most important financial position at an organization, a Chief Financial Officer is answerable for the entire financial outlook of the establishment it is employed by. It is a job that has layers in terms of what it entails on a day to day basis, as there is not just one domain a CFO is responsible for. Budgeting, tracking of cash flow, management of investments, analysis of financial weaknesses, and risk management are all tasks a CFO is responsible for.

The pay of a Chief Financial Officer reflects that it is not just a financial role, but also one that requires leadership. Salaries of CFOs are some of the highest in the industry, with professionals making anywhere between $100,000 up to $500,000 a year.

10. Tax Director

The position of Tax Director is one of the highest paying and most in demand job in the world of finance. A Tax Director is in charge of the preparation and filing of tax returns and other relevant documents. In addition, they are to oversee all tax related plans and strategies of the company to ensure all activity is compliant with regulations. Activities a tax director would tackle include tax calculation error handling, tax reduction proposals, and intra-organization tax policy creation.

A Tax Director on average makes about $187,000 a year. This is just the median income figure for this position, so you can imagine how high paying the profession is with experience.

11. Financial Analyst

Responsible for the research, analysis, and evaluation of the finance matters of an organization or company, the position of financial analyst is respectable and well paid. The key role of a financial analyst is to provide advice on which financial decisions the company’s best interest lies. In addition, this role includes examination of the current economic conditions and investment market as well as planning and strategizing on the finances of future endeavors.

Salaries for financial analysts vary depending on which stream of finance they specialize in. On average, the median income of this position is between $75,000 to $85,000 a year. 

12. Private Wealth Advisor

A job that falls under the umbrella of financial advisory, the role of private wealth advisor is one of the top jobs in finance. As a private wealth advisor, you are answerable for all of the client’s financial advisory. It is a position where clients are usually wealthy individuals looking to find guidance on how to manage current and plan future finances in the most efficient manner.

Examples of tasks a private wealth advisor would handle are retirement fund planning, tax preparation and filing, and management of property and estates. Private wealth advisors offer their services for a set fee, so their pay varies depending on their clientele and the depth of their services.

The average salary reported falls in the range of $90,000 to $130,000 a year.   

13. Venture Capitalist Investor

Venture capitalist investing is a profession that features high risks at a higher reward. At any point in time there are always new businesses and startups launching in the business sector. These companies are usually very small scale and require capital and investment to aid their development.

This is where a venture capitalist investor comes in. In exchange for a seat on the board of directors and a certain cut of the company’s equity, venture capitalist investors provide their investment and advisory. This is a job that comes with high risk as both extreme success and complete loss of investment are possible. 

The best venture capitalist investors earn extremely high annual salaries, so it depends entirely on how successful investments play out to be. In the United States, the average salary for a venture capitalist investor is about $150,000. 

What skills do you need for finance jobs?

Finance jobs require a varied skill set, as the tasks required to succeed in the industry are multi dimensional. Finance professionals do it all, from filing paperwork and generating reports to conducting studies and delivering presentations.

In addition, finance jobs entail a lot of risk taking, as forecasting of stock markets and economic conditions is something certain positions require on a day to day basis. This is why a good mesh of soft skills and strong educational background are a must to do well in this field

Which finance job pays the most?

Top paying jobs in the finance world include Chief Financial Officer, Investment Banker, and Hedge Fund Manager. This is because in addition to base salary, such positions are also awarded with quarterly and yearly bonuses, which can boost income to great heights. The clientele that services are being provided to also affects the pay of a finance job. That is why hedge fund managers are paid so much, they typically provide services to the wealthiest stream of investors.