While people generally see the finance sector as a great arena to earn big, fat paychecks, the reality is that there are only some particular positions which ensure good salary packages. In this article, we speak about those best-paying designations, so that the job aspirants get a better, overall understanding of the field they want to enter and make money.
These professionals help businesses raise capital by creating investment portfolios like stocks and bonds, apart from advising companies on mergers and acquisitions, public offerings, restructuring, and more. The base salary for this designation is USD 143,000 per year with bonuses ranging up to USD 100,000 or above.
This designation requires the professional to help individuals/businesses make financial decisions by analyzing their current market situation and providing advice on budgeting, investments, taxes, retirement planning, insurance needs etc. The average base salary for this position is around USD 90,000 per year with bonuses potentially reaching up to USD 50,000.
Accountants help businesses to track finances accurately while meeting the regulatory environments. They are supposed to examine financial documents, provide advice on tax implications, prepare audit reports for internal decision-making, detect fraud, monitor the company’s compliance standards, prepare yearly operational budget plans, and much more. The average pay for this role is approximately USD 75,000 per year including bonus potentials (depending on experience levels).
Quantitative Analyst/Risk Manager
Professionals under this category use mathematical models to analyze data to measure risk associated with investments/other activities involving money/assets. The job description also involves developing portfolio strategies. The average salary for this position comes to around USD 130,000 per year with bonus potentials going up to around USD 80,000.
An auditor evaluates the accuracy of financial statements prepared by businesses. This job requires knowledge of accounting theory, along with top-notch organizational skills, as the work involves reviewing complex documents and checking out for accounting errors. The base salary for an auditor is USD 70,000 per year including bonus potentials up to around USD 25,000.
Mergers & Acquisitions Specialist
Specialists in this field help companies identify prospective acquisition targets and manage the whole merger process. The base yearly salary for this position comes to around USD 170,000 with bonus potentials reaching USD 120,000.
Financial analysts evaluate past performance trends and prospects related to stocks and bonds and then use the information to create personalised investment portfolios. These professionals also advise their clients on taxation, estate planning, insurance coverage, and retirement preparation. Financial analysts have an average yearly income rate topping out nearly USD 100,000 plus additional earnings through bonuses.
Tax attorneys specialize in advising clients about legal issues related to taxation; while representing them in front of governmental authorities in case of disputes arising over alleged unpaid amounts. Tax attorneys usually possess both a Juris Doctorate along with a Master’s Degree in Taxation plus additional certifications. These professionals command large yearly salaries averaging at least USD 120,000 plus bonuses potentially going beyond USD 50,000.
Some of the other similar highly-paid designations involve Chief Financial Officer, Capital Markets Specialist, Insurance Underwriter, Portfolio Manager, Financial Services Representative, Investment Advisor, Actuary, Financial Compliance Officer, Budget Analyst, Credit Analyst, Private Banker and Commercial Banker.