What state do finance majors make the most money?
The top 5 highest paying jobs in finance are investment banking, hedge fund management, CFO roles, private equity, and actuarial positions. These careers typically offer substantial salaries and the potential for significant bonuses.
- Financial Manager. Salary Potential: $208,000. ...
- Personal Financial Advisor. Salary Potential: $208,000. ...
- Securities, Commodities, and Financial Sales Agents. Salary Potential: $208,000. ...
- Actuaries. Salary Potential: $186,110. ...
- Financial Analyst. ...
- Accountant/Auditor. ...
- Budget Analyst. ...
- Cost Estimator.
The top 5 highest paying jobs in finance are investment banking, hedge fund management, CFO roles, private equity, and actuarial positions. These careers typically offer substantial salaries and the potential for significant bonuses.
Rank | State | Average Salary |
---|---|---|
1 | New York | $102,684 |
2 | Massachusetts | $82,758 |
3 | North Dakota | $65,397 |
4 | District of Columbia | $79,240 |
According to the U.S. Bureau of Labor Statics (BLS), careers in finance pay a median salary of $76,850 — 66% higher than the median salary for all occupations in the nation ($46,310).
in finance make, outline degree requirements for finance majors, discuss where finance majors can work after graduation and list some tips to help you start your finance career. Key takeaways: Depending on the job they accept, B.S. in finance graduates can earn competitive salaries of up to six figures.
Both finance and tech offer lucrative career opportunities, and the highest-paying field between the two can vary depending on various factors such as location, job role, and level of expertise. However, it is generally observed that the tech industry tends to have higher earning potential compared to finance.
- Chartered Financial Analyst (CFA) certification.
- Certified Public Accountant (CPA) certification.
- Financial Modeling & Valuation Analyst (FMVA) certification.
- Chartered Alternative Investment Analyst (CAIA) designation.
- Certified Financial Planner (CFP) designation.
Wealth managers and Private Bankers are stressful jobs in finance. Finishing near the top on some surveys and further down on others, wealth managers and financial advisors deal with one particular vehicle for stress: they eat only what they kill. Wealth managers get fired nearly as often as they get hired.
An individual with a major in finance has many career options in various industries where they can help businesses budget and manage their finances and accounts. They have advanced knowledge regarding financial management and financial risks, which can help qualify them for higher salaries.
What is the best city to live in for finance?
New York, New York, USA
New York City is typically considered the finance capital of the world. Many of the largest investment banks, including Goldman Sachs,15 Morgan Stanley,16 and Merrill Lynch,17 are headquartered in New York City. So too are several large banks, including Citigroup and JPMorgan Chase.
High earning potential: Many jobs in finance offer high salaries and growth potential, making it a lucrative career choice. Diverse career opportunities: With a finance degree, you can work in various roles and industries, from investment banking to risk management to financial planning.
Key things you should know about finance major salaries
The 2022 median annual pay was $96,220 for financial analysts, $139,790 for financial managers, and $76,850 for business and financial occupations (overall) (BLS, 2023).
Finance roles that typically pay the most include positions such as investment banking managing directors, hedge fund managers, or private equity partners. Chief financial officers (CFOs) of large corporations are also highly paid positions.
Finance degrees are generally considered to be challenging.
In general, it is not harder to find a job with a degree in finance than in accounting. However, there are a few factors that can make the job search more competitive in finance. Finance is a popular major, so there is a large pool of candidates. This can make it more difficult to stand out from the crowd.
It's normal to have these thoughts and it's good to ask these kind of questions before you get into it. Believe it or not, mastery of advanced math skills is not necessary to have a career in finance. With today's technology, all math-related tasks can be done by computers and calculators.
The U.S. Bureau of Labor Statistics (BLS) projects that business and finance jobs will be in demand from 2022 to 2032, with 911,400 openings on average each year. Certain roles within finance, like financial examiner, are expected to grow over six times faster than the rate for all occupations nationwide.
While both finance and accounting can be difficult majors, accounting is considered more difficult because it requires more discipline and a lot of math. Accounting is more complex because it relies on precise sets of arithmetic principles.
- Chief Executive Officer (CEO) Topping the list, being a CEO gets you the highest paying job in the world, no matter where you work. ...
- Anesthesiologist. ...
- General Surgeons. ...
- Psychiatrist. ...
- Data Scientists.
Is finance more stable than tech?
Finance is considered to be the most desirable, stable sector to work in among 18-25-year-olds, beating tech, health care and education, according to a new report from the CFA Institute, a non-profit focused on financial education.
The reason for higher fintech salaries is pretty clear: these cutting-edge firms must not only compete for talent with the traditional finance sector, but also deep-pocketed tech giants such as Google and Microsoft that have no compunctions about paying whatever it takes to secure the talent they need.
People who choose to major in finance are interested in numbers, financial markets, and finding ways to make money. They tend to be natural problem-solvers who like setting goals and researching ways to reach them.
Most finance programs require a minimum cumulative GPA of 2.0-3.0. Some schools also require minimum SAT or ACT scores.
- Finance. Finance majors learn how to make financial decisions for organizations. ...
- Economics. Economics majors learn to decode the systems behind what can often appear impossible to understand. ...
- Business Administration and Management. ...
- Accounting. ...
- International Business.
References
- https://online.wilson.edu/resources/accounting-vs-finance/
- https://www.forbes.com/sites/rachelwells/2024/01/15/10-high-paying-finance-jobs-in-2024/
- https://www.linkedin.com/pulse/quietly-building-success-introverts-guide-financial-practice-torrey
- https://www.brightnetwork.co.uk/career-path-guides/accounting-audit-tax/differences-big-four-firms/
- https://en.amazingtalker.com/questions/1498
- https://www.indeed.com/q-400k-salary-l-california-jobs.html
- https://www.indeed.com/career-advice/finding-a-job/highest-paying-finance-jobs
- https://memoryos.com/article/10-careers-that-require-the-highest-iq
- https://corporatefinanceinstitute.com/resources/career/top-finance-certifications-list/
- https://www.careerexplorer.com/degrees/finance-degree/satisfaction/
- https://hbr.org/2023/03/is-a-career-in-finance-right-for-you
- https://work.chron.com/high-iq-careers-16001.html
- https://www.zippia.com/finance-professional-jobs/best-states/
- https://www.shiksha.com/studyabroad/top-10-highest-paying-jobs-in-the-world-articlepage-155431
- https://www.intelligent.com/best-online-finance-degree-programs/is-a-finance-degree-worth-it/
- https://www.investopedia.com/articles/personal-finance/042215/what-do-investment-bankers-really-do.asp
- https://www.sciencefocus.com/science/who-has-the-highest-iq
- https://fortune.com/ranking/best-workplaces-financial-services-insurance/
- https://www.8b.africa/non-traditional-stem-designated-degrees-for-international-students/
- https://www.forbes.com/advisor/education/business-and-marketing/careers-in-finance/
- https://www.assessments24x7.com/blog/financial-genius-are-you-one-peter-lynch-is
- https://www.gleim.com/cpa-review/how-hard-is-the-cpa-exam/
- https://money.usnews.com/careers/best-jobs/financial-advisor/salary
- https://www.coursera.org/articles/finance-major
- https://gitnux.org/average-iq-of-doctors/
- https://www.wallstreetoasis.com/resources/careers/salary/six-figure-salary
- https://www.investopedia.com/personal-finance/best-entry-level-finance-jobs/
- https://www.joinleland.com/library/a/top-ten-investment-banks
- https://www.investopedia.com/articles/financialcareers/08/make-million.asp
- https://en.wikipedia.org/wiki/Financial_quotient
- https://www.franklin.edu/blog/is-a-finance-degree-worth-it
- https://www.efinancialcareers.com/news/finance/the-most-and-least-stressful-jobs-in-banking-and-finance
- https://bigfuture.collegeboard.org/explore-careers/career-clusters/finance/5-majors-to-consider
- https://www.investopedia.com/articles/professionals/080615/5-biggest-financial-advisory-firms-us.asp
- https://www.efinancialcareers.com/news/banking-jobs-with-the-best-lifestyle
- https://www.efinancialcareers.com/news/2016/12/iq-on-wall-street
- https://www.greatvaluecolleges.net/highest-paying-finance-degree-jobs/
- https://www.forbes.com/advisor/banking/largest-banks-in-the-us/
- https://themilitarywallet.com/best-careers-to-get-rich/
- https://poetsandquants.com/2023/01/28/best-investment-banks-to-work-for-in-2023/4/
- https://www.investopedia.com/terms/b/bigfour.asp
- https://money.usnews.com/careers/articles/is-finance-a-good-career-path-for-you
- https://www.indeed.com/career-advice/finding-a-job/highest-paid-banking-jobs
- https://www.techtarget.com/whatis/definition/Big-4-Final-4
- https://news.ycombinator.com/item?id=36559111
- https://www.bestcolleges.com/business/bachelors/finance/program-guide/
- https://online.wilson.edu/resources/is-a-finance-degree-worth-it/
- https://www.universityliving.com/blog/admission-guide/toughest-courses-in-the-world/
- https://www.quora.com/What-would-someone-with-a-5000-IQ-be-able-to-do-What-would-they-act-like-Or-would-they-kill-themselves-instantly
- https://mergersandinquisitions.com/hedge-funds/
- https://www.linkedin.com/posts/asimq_i-was-recently-asked-if-most-investment-bankers-activity-7133780785127387136-JEkv
- https://memoryos.com/article/who-has-the-highest-iq
- https://www.wallstreetoasis.com/forum/investment-banking/where-are-smartest-guys-in-finance
- https://www.cnbc.com/2023/06/28/finance-is-the-no-1-industry-gen-z-wants-to-work-in-says-new-research.html
- https://unacademy.com/content/general-awareness/list-of-top-10-finance-companies-in-india/
- https://www.investopedia.com/articles/financialcareers/08/five-undergrad-tips.asp
- http://blog.funeducation.com/blog/kids-iq-test-information/top-5-college-majors-by-iq
- https://bau.edu/blog/why-major-in-finance/
- https://news.ycombinator.com/item?id=8553015
- https://www.northcentralcollege.edu/news/2022/09/12/finance-degree-hard
- https://analystprep.com/cfa-level-1-exam/quantitative-methods/decision-rule-power-of-a-test/
- https://www.reddit.com/r/Accounting/comments/z2yrlu/what_do_you_guys_think_the_average_iq_of_a_cpa_is/
- https://www.wgu.edu/blog/finance-degree-difficult2301.html
- https://www.oliveboard.in/blog/highest-paying-bank-jobs-india/
- https://training-you.fr/the-most-and-least-stressful-jobs-in-banking-and-finance/
- https://www.investopedia.com/financial-edge/0912/how-intelligence-relates-to-wealth.aspx
- https://www.quora.com/Is-it-harder-to-find-a-job-with-a-degree-in-finance-than-in-accounting
- https://www.wsj.com/articles/svb-silicon-valley-bank-collapse-chief-risk-officer-f6e1fcfd
- https://research.com/careers/finance-major-salaries
- https://www.buysidehustle.com/how-much-do-people-in-finance-make-lets-just-say-millions/
- https://mergersandinquisitions.com/investment-banking-career-path/
- https://www.uopeople.edu/blog/is-a-finance-degree-worth-it-everything-you-need-to-know/
- https://www.indeed.com/career-advice/pay-salary/how-much-do-finance-majors-make
- https://northwest.education/insights/careers/top-5-highest-paying-jobs-in-finance/
- https://topworkplaces.com/highest-paying-finance-jobs/
- https://www.dice.com/career-advice/fintech-vs.-traditional-finance-which-pays-tech-pros-more
- https://companiesmarketcap.com/financial-services/largest-financial-service-companies-by-market-cap/
- https://www.ambitionbox.com/awards/best-financial-services-companies-to-work-in-india-2022
- https://www.ziprecruiter.com/Salaries/Finance-Degree-Salary--in-California
- https://growthequityinterviewguide.com/how-investment-banks-make-money
- https://www.investopedia.com/financial-edge/0112/financial-careers-with-excellent-salaries.aspx
- https://en.wikipedia.org/wiki/IQ_classification
- https://www.quora.com/Who-are-the-most-intelligent-people-in-finance-and-trading
- https://www.forbes.com/2007/02/25/wall-street-retirement-lead_achieve07_cx_lm_0301number.html
- https://www.indeed.com/career-advice/finding-a-job/jobs-paying-over-300k
- https://www.indeed.com/career-advice/pay-salary/how-much-do-bs-finance-graduates-make
- https://www.zippia.com/answers/is-finance-harder-than-accounting/
- https://www.careervillage.org/questions/788850/what-level-of-math-do-you-need-to-complete-to-be-in-finance
- https://www.investopedia.com/ask/answers/120214/whats-average-salary-someone-finance-major.asp
- https://online.wharton.upenn.edu/newsroom/ebooks/investment-banking-stress-work-life-balance-for-finance-professionals/
- https://www.investopedia.com/articles/financialcareers/top-10-financial-career-cities.asp
- https://www.investopedia.com/articles/career-compensation/091716/career-investment-banking-worth-it.asp
- https://www.linkedin.com/advice/0/how-can-investment-bankers-manage-stress-levels-ibr5c
- https://www.quora.com/Which-career-field-pays-the-most-finance-or-tech
- https://online.maryville.edu/online-bachelors-degrees/finance/resources/finance-degree-vs-accounting-degree/
- https://csuglobal.edu/blog/finance-hard