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The financial services industry is booming in the United States. According to a recent study by Zippia, 6.55 million Americans were working in the financial industry in 2022, up from 6.1 million in 2016.
The sector offers many different employment options, depending on your education and interests. A career in finance involves a lot of problem-solving and decision-making. Here are some of the best career options for people who want to work in finance.
Financial Examiner
A financial examiner is an accountant who examines a company’s financial statements. They evaluate the reliability of the numbers presented in these statements and make recommendations based on their findings. Financial Examiners work for companies that are required by law or regulation to file financial reports with government agencies like the Securities and Exchange Commission (SEC) or Federal Deposit Insurance Corporation (FDIC). Financial Examiners also work directly with investors, creditors, and other stakeholders to ensure accurate reporting of information about publicly traded companies’ finances. The average salary for this role in the US is $65,000 per year.
Public Accountant
Public accountants are responsible for reviewing financial statements and ensuring they accurately reflect the company’s financial health. They also help prepare tax returns and business plans, evaluate investments, manage risk management strategies, and more. Public accountants can be found at banks or accounting firms working with internal audit teams or external auditors. You generally need a bachelor’s degree in Business Administration in Accounting to work as a public accountant. You can expect an average salary somewhere between $65,000 and $80,000 per year in the US.
Investment Banker
Investment bankers are responsible for raising capital for companies, which they do by selling stocks and bonds. They also help companies acquire other companies and advise them on mergers and acquisitions (M&A). Investment banks offer many opportunities for growth within their organizations as well as in the field of financial services overall. As an investment banker, you can expect to earn around $113,000 per year in the US.
Corporate Finance
A position in corporate finance generally involves reviewing and analyzing financial statements, compiling projections about future earnings, managing relationships with investors and clients, and negotiating deals with other companies to raise funds for your client’s projects. The average salary for this role in the US is $92,000 per year.
Securities Analyst
As a securities analyst, you’ll be responsible for analyzing stocks and bonds. You’ll use financial models to predict market trends and help clients determine the best investment strategy for them. Analysts typically work as part of a team that provides advice on investing client money. They’ll help investors identify stocks that are likely to perform well in the future. The average salary for this position is $78,000 annually in the US.
Portfolio Manager
Portfolio managers are responsible for managing a portfolio of investments, usually on behalf of a company or individual investor. They make investment decisions based on their knowledge of the markets, economic conditions, and their own research. Portfolio managers also monitor how well their investments are performing against certain benchmarks, such as market indices or similar sectors. As a portfolio manager, you can earn around $154,000 annually in the US on average.
Credit Manager
A credit manager is a financial professional who manages the loan portfolio for a lender or other financial services company. They are responsible for analyzing and managing the risk associated with loans, including evaluating consumer histories and credit scores. Credit managers also manage customer accounts, set credit limits on borrowers, and monitor their payment history over time to determine whether they’re meeting their obligations. The average salary for this position is $65,000 annually in the US.
Insurance Agent and Underwriter
Insurance agents and underwriters are the people who sell insurance policies. They’re responsible for finding clients, negotiating contracts, and handling claims on behalf of those clients. As a result, you’ll need to have strong communication skills and work well under pressure—a skill that comes in handy when dealing with angry customers or trying to close a deal at one of your appointments. As an insurance agent, you can expect to earn around $50,000 per year in the US.
Budget Analyst
An ideal candidate for the budget analyst position is someone comfortable working with financial data and has good analytical skills and attention to detail. The job requires an understanding of accounting principles and methodology. The average salary for this role is $71,000 annually in the US.
Financial Clerks, Tellers, and Service Representatives
Financial clerks, tellers, and service representatives are responsible for providing customers with financial services. They can work in banks, credit unions, insurance companies, and other financial institutions. The average salary for this role is $40,000 annually in the US.
Loan Officer and Broker
Loan officers and brokers help people get mortgages, auto loans, quick online loans, and other types of loans. They work with banks and other financial institutions to get the job done. They help clients with their financing needs by finding them the best loan terms possible based on the client’s financial information. You can earn around $55,000 per year on average in the US as a loan officer.
Management Analyst
Management analysts are in charge of managing and monitoring a company’s finances. They analyze data, make strategic decisions, and create reports that can be used to make informed business decisions. These reports may include budgeting, forecasting future financial results, analyzing trends in the industry or market as a whole, or determining how best to allocate resources across multiple departments within an organization. Management analysts must have extensive knowledge of accounting principles and understand how these principles apply to specific industries or sectors within an organization’s overall operations structure. The average salary for this role is $85,000 annually in the US.
Conclusion
A career in finance can be rewarding and exciting, but it does require a lot of hard work. If you’re looking for something that will help you build your skills, then consider taking courses in finance at your local community college or university.
