The highest-paying jobs in finance include top-level executive positions and relatively entry-level careers, like financial analysts. Careers in business and finance have a median annual salary of $76,570 — significantly higher than the national average for all occupations ($45,760.) In other words, the finance industry pays well across the board.
Using data from the U.S. Bureau of Labor Statistics (BLS), we’ve pulled together some of the best-paying jobs in the financial sector and identified a few high-salary entry-level finance careers you can get even if you don’t have a degree!
15 Best Paying Jobs in Finance
While these are some of the best-paying jobs in finance, you may see higher or lower wages depending on your location, company, and experience level.
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1. Chief Executives
Average annual salary: $246,440
Projected growth rate from 2021 to 2031: -7%
Education requirement: A bachelor’s or master’s degree and extensive experience
Chief executives, such as chief executive officers (CEOs) and chief financial officers (CFOs), are responsible for overseeing all activities within a company. This may be one of the best paying jobs in finance, but that high salary comes with a lot of responsibility. CFOs in particular manage the finances of a company. Since this is a top-level position, this role requires many years of experience in the industry. Being a chief executive is also one of the highest-paying jobs overall. While the average salary is less than certain medical careers, many of the wealthiest people in the world are CEOs.
2. Financial Managers
Average annual salary: $166,050
Projected growth rate from 2021 to 2031: 17%
Education requirement: A bachelor’s degree in a relevant field and several years of experience in a financial role
Financial managers are high-ranking professionals who work to create long-term financial plans for organizations. A financial manager may take on different and specific job titles, such as treasurer, controller, or cash manager. These job titles signify the financial manager’s specialization and area of expertise. This isn’t an entry-level position. Rather, it’s a career for someone with extensive experience working in places like investment firms, insurance companies, and banks.
>>MORE: Discover if a career in finance is right for you.
3. Personal Finance Advisers
Average annual salary: $137,740
Projected growth rate from 2021 to 2031: 15%
Education requirement: A bachelor’s degree in any field, though finance, business, and economics degrees are especially helpful
Personal finance advisers, and financial advisers in general, are responsible for guiding clients through challenging financial decisions. For example, some personal financial advisers specialize in estate planning and retirement funds. Financial advisers who manage investments (like stocks and bonds) may be required to register with the Securities and Exchange Commission (SEC). Additionally, certain certifications, like a certified financial planner (CFP) designation, can be beneficial for career advancement.
4. Economists
Average annual salary: $128,180
Projected growth rate from 2021 to 2031: 6%
Education requirement: A master’s degree in economics, though some entry-level positions may accept applicants with only a bachelor’s degree
Economists research and report on issues related to fiscal policies, the use of goods and services, and economic trends. Some economists specialize in a specific area of the economy, such as health care or manufacturing. To advance in this career, you may eventually need a Ph.D. in economics. A related career path, becoming a college professor in economics, is also a great career option with an annual salary of $122,750 on average and a similar growth rate over the next decade.
5. Financial Risk Specialists
Average annual salary: $116,140
Projected growth rate from 2021 to 2031: 8%
Education requirement: A bachelor’s degree in a relevant field
Financial risk specialists are a specific type of financial analyst that specialize in assessing risks for companies. These risks include things like taking on a new investment or changes in the economy at large. A financial risk specialist’s goal is to ensure the company they work for is able to weather whatever risks it undertakes. In addition to researching and analyzing risks, these specialists make recommendations on how the company can improve its standing and maximize profits.
6. Data Scientists
Average annual salary: $115,240
Projected growth rate from 2021 to 2031: 36%
Education requirement: A bachelor’s degree in a relevant field
While data science isn’t only for the finance industry, financial institutions rely heavily on the data-driven decision-making power of data scientists. Data science is a rapidly growing field, and the skills used in this field strongly overlap with financial analyst roles, especially quantitative analysts. Some colleges and universities offer degrees specifically in data science, but a foundation in coding, statistics, and mathematics is vital for data scientists.
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Avg. Time: 5 to 6 hours
Skills you’ll build: Communication, data visualization, mathematical modeling, model evaluation, business understanding, client communication
7. Financial and Investment Analysts
Average annual salary: $108,790
Projected growth rate from 2021 to 2031: 9%
Education requirement: A bachelor’s degree in a relevant field
A financial analyst typically works under a financial manager, forecasting a company’s financial future. They exist in many different sectors of the finance world, including banking, insurance, and private equity. Certain specialized financial analysts, like investment bankers, often see even higher salaries, particularly if they work for a major investment banking company. Many financial and investment analysts focus on one sector or industry, like real estate, mergers and acquisitions, or foreign exchange markets.
>>MORE: Find out if investment banking is a good career path for you.
8. Securities, Commodities, and Financial Services Sales Agents
Average annual salary: $100,740
Projected growth rate from 2021 to 2031: 10%
Education requirement: A bachelor’s degree in a relevant field
Securities, commodities, and financial services sales agents is a broad classification that includes a variety of different roles. These roles include investment bankers, brokers, financial planners, and insurance sales agents. Working in financial sales often requires being registered with the SEC, and having a master’s degree or a Master’s of Business Administration (MBA) can be helpful for career advancement.
Bank of America Investment Banking
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Avg. Time: 5 hours
Skills you’ll build: SWOT analysis, financial analysis, M&A screening, debt capital markets, communication, business development
9. Financial Examiners
Average annual salary: $95,610
Projected growth rate from 2021 to 2031: 21%
Education requirement: A bachelor’s degree in a relevant field
Financial examiners specialize in the intersection between finance and law — they ensure companies comply with regulations and that nothing is mismanaged. This career typically requires at least a bachelor’s degree, and financial examiners can progress in their career through certifications from the Society of Financial Examiners (SOFE).
10. Budget Analysts
Average annual salary: $87,680
Projected growth rate from 2021 to 2031: 3%
Education requirement: A bachelor’s degree in a relevant field
Put simply, budget analysts analyze budgets — they review an organization’s spending and find ways to improve the company’s financial situation. A budget analyst can work for any type of organization, company, institution, or government entity. Budget analysts generally benefit from certain finance-focused certifications, such as the Certified Government Financial Manager (CGFM) credential.
11. Accountants and Auditors
Average annual salary: $86,740
Projected growth rate from 2021 to 2031: 6%
Education requirement: A bachelor’s degree in a relevant field
Accountants and auditors often deal with taxes for a company, but they are also key players in analyzing a company’s finances to find areas of improvement, auditing a company’s financial records to ensure compliance with laws, and recommending ways companies can minimize risk. It is possible to get into accounting without a bachelor’s degree by starting as a bookkeeper or accounting clerk. However, accountants who file reports with the SEC need certified public accountant (CPA) certifications.
JPMorgan Chase Internal Audit Analyst
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Avg. Time: 5 hours
Skills you’ll build: Communication, analysis, attention to detail, fieldwork, testing, analytics, auditing, reporting
12. Loan Officers
Average annual salary: $84,160
Projected growth rate from 2021 to 2031: 4%
Education requirement: A bachelor’s degree in a relevant field
Loan officers assist clients looking for types of financing like personal loans, mortgages, and business loans. They help determine what loans their client is eligible for based on certain risk factors such as debt and credit score. Depending on their area of expertise, loan officers may need specific licenses. For example, mortgage loan officers must be licensed as mortgage loan originators (MLOs).
>>MORE: Learn the difference between loan officers and underwriters.
13. Insurance Underwriters
Average annual salary: $82,990
Projected growth rate from 2021 to 2031: -4%
Education requirement: A bachelor’s degree in a relevant field and specialized certifications
Insurance underwriters are the gatekeepers to getting an insurance policy. They review applications for insurance coverage and determine how risky it would be to offer a policy. Underwriters may need specific certifications for the insurance products they underwrite, such as a particular designation for underwriting life insurance or health insurance. As technology advances, some aspects of the underwriting process are being automated through algorithms and artificial intelligence. As a result, employment of underwriters is expected to decline over the coming decade.
14. Market Research Analysts
Average annual salary: $78,880
Projected growth rate from 2021 to 2031: 19%
Education requirement: A bachelor’s degree in a relevant field
Market research analysts work in a variety of industries determining how much or how well a product or service can sell. They pour through data on demographics and market trends to help companies determine what products consumers want and how much they’re willing to pay. Market and marketing analysts typically need a bachelor’s degree in something statistics- or research-intensive. Additionally, experience or interest in marketing can be useful for this career.
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Avg. Time: 2 to 2.5 hours
Skills you’ll build: Project management, strategic and analytical thinking, market research, user research, communication
15. Claims Adjusters, Examiners, and Investigators
Average annual salary: $73,380
Projected growth rate from 2021 to 2031: -6%
Education requirement: A high school diploma, though a bachelor’s degree is often preferred
When someone files an insurance claim, someone needs to investigate the details of the claim to figure out how much the insurer should pay. That’s where claims adjusters come in. They are experts on what is not covered by an insurance policy and negotiate settlements with insured parties. Similarly to underwriters, certain aspects of the claims investigation and adjustment process are being automated with technology, so employment of claims adjusters, examiners, and investigators is not expected to increase in coming years.
>>MORE: See what some of the highest paying jobs in the U.S. are for 2023.
High-Salary Entry-Level Finance Careers
Finance is a rapidly growing industry — according to the Bureau of Labor Statistics, business and finance occupations are projected to add more than 700,000 new jobs between 2021 and 2031. There are ample opportunities to break into a career in finance, even if you’re just starting out or don’t have a college degree.
Some of the best-paying jobs in finance that are entry-level or attainable without a degree include:
- Real estate broker: requires a high school diploma or GED and has an average salary of $90,930
- Tax examiner: requires a bachelor’s degree and has an average salary of $64,410
- Financial clerk: requires a high school diploma or GED and has an average salary of $49,710
- Bookkeeper: usually requires some college but no degree and has an average salary of $47,440
- Bank teller: requires a high school diploma or GED and has an average salary of $36,800
We asked students who got hired at JPMorgan, Bank of America, Wayfair, and Walmart to share their top tips on what actually works to get a finance or software engineering internship:
Ready to start learning the skills you need for a career in finance? Check out Forage’s free job simulations.
Source: Salary and job growth data accessed from the U.S. Bureau of Labor Statistics, May 2023.
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