Ten Common Jobs a Degree in Finance Can Land Ranked By Pay
People with a degree in finance can work for many different companies. Some say that the possibilities are endless because every company needs help with its finances. At the same time, there are some jobs that are more common than others. Here are the 10 most common jobs, ranked by pay, for people with a degree in finance.
A treasurer will typically make around $97,000 a year. This is one of the highest jobs that someone with a finance degree can obtain because the treasurer basically functions as an overall manager for the whole financial department.
Treasurers might plan and oversee budgets, financial statements and accounts. They will typically work with the management staff so that they know about the budget, and they will help implement the budget so that no one spends too much. Treasurers must also help with sales and fundraising, reporting finances to auditors and CEOs and managing the company’s books.
You will typically need at least five to 10 years of experience to be considered for this position.
Personal Financial Adviser
People with this job often make around $85,000 a year. Most of these people are similar to freelancers because they have to build and maintain client relations. If you work for a firm, then clients might be supplied to you, but you’ll usually have to find your own clients.
It will be your job to manage a client’s finances and help him or her create an effective budget based on the client’s goals. For example, a client who wants to build wealth will need a different budget than someone who wants enough money for retirement. You will also have to contact clients to see if there are any changes in their finances.
Most financial analysts make about $73,000 a year. This job will require you to carefully look at a client’s or company’s finances to analyze its current financial situation. For example, is the business losing money? If so, then what can be done to alleviate the problem?
You will have to constantly look at different financial variables, check common analyzing trends and create spending plans and forecasts to help your client or employer. You’ll also be charged with correcting any wrong information.
Auditors will typically make $68,000 a year. These people are responsible for auditing certain parts of the company to ensure that internal controls and financial policies are being upheld. For example, an auditor might check a department’s spending and sales.
If there are any problems with the audit, then the auditor has to identify the issues and find a way to fix them. They must also assess risks to ensure that the company has the highest chance of succeeding against the competition. They might have to support external auditors with taxation issues.
A budget analyst will commonly make around $67,000 a year. While some budget analysts will work with individual clients to make a budget, these people usually serve entire companies. They will analyze the company’s spending, sales and assets to create an effective budget. If the company is very big, then the analyst might be responsible for a single department.
They must talk with managers to inform them about budget changes, and to help them implement the changes without causing any major disturbances. Budget analysts must create budgets that reflect the company’s immediate and long-term needs.
You will typically make $58,000 a year as a loan officer. Most of these people work for banks, and they commonly have to deal with customers. You will have to review a client’s credit score and financial information to see if he or she is eligible for a loan. If the person isn’t eligible, then you’ll typically give the information to a manager so that he or she can make a decision.
You will also have to explain the different loans that the bank offers. If the client isn’t eligible for a loan, then you might have to explain what prevented him or her from getting money.
Buyers will usually make $54,000 a year. Most buyers work for retail stores, but they can also work for universities, distributors and any other business that commonly buys products or supplies. You’ll be responsible for ordering products and effectively using the company’s money to ensure that the inventory is properly stocked.
You might have to communicate with department managers to see what items they need. If you need to make a large purchase, then you may have to speak with your managers to approve the purchase.
Most accountants will make $52,000 a year. Accountants typically work for a company, but they can also be self-employed. Their most common responsibility is computing taxes and ensuring that the client’s tax information matches the current tax laws.
Accountants are also charged with checking the client’s accounting records and balancing the finances, preparing financial statements or just ensuring that the client is making a profit. Some accountants will have to create a budget if a budget analyst isn’t available.
People with this career commonly make $33,000 a year. Collectors might work for the government, but most of them work for private companies. They will have to analyze delinquent accounts to see which clients owe money. They will then have to send letters, make phone calls or write emails to contact the account holder.
Finding delinquent accounts is usually easy, but dealing with the account holder might be difficult.
This is the lowest job on the list, but it’s one of the easiest to get and it might be considered an entry-level position that you need to go through before you can fill higher positions. Most bank tellers make $24,000 a year. You will usually help customers with their transactions. The most common responsibility is helping customers deposit or withdraw money from their accounts, but you might also have to tell them about how much money they have in their account or ensuring that they talk to the right department about getting a loan or starting an account.