What do Finance Jobs Pay?
It is a fact that finance jobs pay well. The salaries of those employed in these roles can vary greatly depending on the specific job, location, and employer. However, finance jobs tend to offer high salaries on average with potential for even higher incomes as individuals work their way up the ladder.
Average Salaries for Different Finance Jobs
Financial Analyst: Average annual salary is between $60,000 and $90,000 in the United States.
Accountant: Salaries can range from $48,000 to well over $100,000 depending on the number of years of experience and the field they specialize in.
Financial Planner: Financial planning jobs have a wide range from the entry-level position at $150,0000 to $200,000 for experienced planners.
Corporate Finance Professionals: These professionals usually earn between $60,000 and $120,000 annually.
Bankers: Bankers tend to earn a slightly higher salary than those employed in most other finance positions. The salaries for bankers range from $50,000 for entry-level to over $200,000 for experienced bankers.
Factors Affecting Salary Levels
The salaries of finance professionals are usually determined by a variety of factors including:
- Type of Employer: Salaries can vary greatly between different employers. For example, the salary a person would receive at an investment bank compared to an independent financial advisory would be quite different.
- Location: Salaries may also vary depending on where the job is located. Those employed in financial positions in high cost of living areas may earn higher salaries than those employed in more rural areas.
- Experience: The length of experience in the field will also affect the salary a person can earn. Entry-level positions tend to start at lower salaries, but earning potential increases with each level of experience achieved.
- Employer Type: Salaries of most finance workers may vary depending on the type of employer they work for. For instance, experienced professionals that work for large corporations and financial firms may earn higher salaries than those employed at smaller firms or businesses.
- Education: The more education a person has, the higher salary they can expect. For example, commonly a Chartered Financial Analyst designation can help one to earn higher salaries.
- Location: Location also plays a role in determining salary levels and the cost of living in a given area. Those finance workers employed in major cities or states that have a high cost of living can expect to earn higher salaries than those in more rural locations.
Benefits Provided with Finance Jobs
In addition to salaries, finance jobs often come with a variety of benefits such as health insurance, paid vacation time, stock options, and retirement plans. Some employers also offer bonuses or other financial incentives to those who meet certain goals or performance objectives. The levels of these benefits will vary depending on the individual employer.
Additionally, most finance professionals have access to continuing education programs that can help to increase their skills and knowledge. These programs can also help to increase earning potential by allowing professionals to increase their qualifications and move up the ladder more quickly.
Conclusion
Finance jobs are among the highest paying careers and offer good benefits and job security. Salaries can range from entry-level to experienced professionals depending on a variety of factors such as experience, education, location, and employer type. Additionally, employers often offer bonuses and other financial incentives in addition to salary, and provide access to continuing education programs that can help to increase a person’s skills and earning potential.