Finance Jobs : Personal Financial Advisors Finance Sector Jobs

Finance Jobs : Personal Financial Advisors Finance Sector Jobs Finance can be very competitive. It's also a highly paid industry that pays the top six to seven figures in salary and bonuses. Even the lowest rungs can expect to start at an excellent wage when compared to other fields.

Finance Jobs  Personal Financial Advisors Finance Sector Jobs, Finance Jobs, Masters Finance Jobs

Although you may not be able to land your dream job immediately, the good news about finance is that it is a large industry, so there is plenty of opportunities to grow, move around and find your niche. It would help if you first got to the entry-level door.


  • Finance-sector jobs pay much higher than the median salary, even at the entry-level.
  • The Bureau of Labor Statistics estimates that finance sector jobs are projected to grow 5% from 2019 to 2029.1
  • To get into finance, you don't have to be an Ivy League graduate. An undergraduate degree is recommended, but economics or math-oriented majors will be preferred.
  • The most popular entry-level jobs include analysts, tax associates, auditors, and financial advisors.
  • A Look At Entry-Level Careers In Finance

Entry-Level Salary

Entry-level finance compensation averages $88,774 a year, according to the job-search website Glassdoor, in January 2021.2 The National Association of Colleges and Employers (NACE) Winter 2020 Salary Survey projects starting paychecks in the finance, insurance, and real estate fields for the class of 2020 to range from $56,750 to $62,500 annually, as of Jan. 21, 2021.3

To get a sense of how high an income is: the median U.S. household income was $68,703 in 2019.4, And in the 4Q of 2020, the median individual income was $984 per week--according to the Bureau of Labor Statistics (BLS).5

What's more, the BLS estimates that employment in business and financial operations occupations is projected to grow 5% from 2019 to 2029--faster than the overall average for professions.6

Education Requirements

How do you get there? The good news is that you don't have to earn a Harvard Business School degree. The good idea is to have a lot of business or financial experience before applying for an MBA.

An undergraduate degree is necessary to work at any financial institution. Although companies may hire students from all majors, it is best to have a solid academic background that shows your ability to understand and work with numbers. This requires knowledge in economics, applied mathematics, and accounting.

NACE found that those who majored in engineering or computer science received the highest compensation, while those in sales and communications got the lowest. Minor in finance if your major is not in finance.

Internships Are a Stepping Stone

Internships are even more critical. Many companies visit campuses to find summer interns, hold workshops or provide networking opportunities, such as the Morgan Stanley Career Discovery Day or the Goldman Sachs Undergraduate Camp.

Although internships are not as easy as a job, they can prove to be invaluable. Internships are a great way to gain contacts and valuable experience. They also often lead to a spot on the company's training programs after graduation, or at the very least to the most exclusive circle of consideration.

Continuing Financial Education

You can also increase your financial knowledge by continuing your education. If you have a degree in finance, show your commitment to the financial sector. Depending on what area of finance you are interested in, certifications such as chartered financial analyst (CFA), Certified Public Accountant (CPA), or certified financial planner(CFP(r) could help improve your job prospects.

The United States requires that professionals who deal with finances and investments pass a series of licensing exams. To take any of these exams in the past, you had to be sponsored financially by an institution. The Financial Industry Regulatory Authority has now finalized the Securities Industry Essentials Exam (SIE), which anyone can take without sponsorship.

The exam is open to anyone 18 years old and over; the 75-question, 105-minute SIE is ideal for "demonstrating basic industry knowledge to potential employers," to quote the FINRA website.

The projected median pay in 2019 (the most recent figure, as of Jan. 21, 2021) for a financial analyst with a bachelor's degree in finance.7

Looking for Finance Jobs: Best Entry-Level Positions

It is essential to find the most lucrative entry-level positions in terms of future career prospects and salary. Also, think about your skills and interests. After narrowing down your goods, you can start your search.

Online job boards are an option to find entry-level finance jobs. There are many good websites like Indeed, LinkedIn, and Monster. It might still be more efficient to search for sites specializing in finance-industry jobs and resources like eFinancialCareers or Broker Hunter (for investment banking span>).

Financial Analyst

Financial analysts are employed by investment companies, insurance companies, and consulting firms. They are responsible for consolidating and analyzing budgets and income statements projections. They also prepare reports, conduct research, and create forecast models. 

Financial analysts study economic conditions, company fundamentals, and industry trends. They often suggest a course for investment, cost reduction, or improving financial performance.

A B.A. is required. Strong I.T. skills are needed for financial, accounting or economics. 

Analyst roles require strong I.T. skills.

According to the BLS, there were approximately 487,800 jobs as financial analysts in the U.S. economy in 2010. They projected a faster than average growth rate of 5% through 2029. According to the latest figures from BLS, the median annual salary for financial analysts was $81,590 as of January 2021.

Investment Banking Analyst

One of the most highly regarded areas in the financial sector is investment banking. Investment banking professionals help individuals, corporations, venture capital companies, and governments with capital requirements. Investment banks can help with new debt and equity for all kinds of corporations. They also aid in the sale of securities and take companies public.

Analysts are usually employed in entry-level roles at an investment bank or hedge fund. These are the most common tasks:

  • Producing deal-related materials.
  • Performing industry research and financial analyses of corporate performance.
  • Collecting materials for due diligence.

Recommendations based on the interpretation of financial data often play a role in determining whether certain activities or deals are feasible.

Finance Jobs  Personal Financial Advisors Finance Sector Jobs, Masters finance Jobs, Finance Jobs

The average investment banking analyst starting salary was $67,817 in November 2020 (the most recent figure, as of January 2021), according to PayScale, a compensation-analysis site. Although candidates have a Bachelor's degree in management, economics, or finance, this job requires an M.A. These areas are helpful.

Junior Tax Associate/Accountant

Specific financial services are still in demand, particularly those that deal with taxation. This is because it is necessary to keep up with the Internal Revenue Regulations (IRS) and other local and state laws. These professionals develop and implement policies related to taxes. This includes calculating and estimating payments and conducting research.

The duties may sound arcane, but tax-related jobs can often lead to corporate positions like the controller (also known as a comptroller), accounting manager, budget director, and even treasurer or chief financial officer.

Candidates need to have a bachelor's in accounting or, at the very least, some accounting skills. If they wish to move up, they will also need a CPA license. Companies often allow employees to get one while they work.

This is why a junior tax associate role is excellent for college students looking to gain work experience in the financial industry. The BLS reported that the median annual salary in 2019 was $54,890. However, this field could see a 4% drop in employment by 2028.

Financial Auditor

Today, the role of the financial auditor is vital. Since the global recession of 2007-2009 and the financial crisis of 2009, governments and regulators have placed more stringent requirements on investment, financial transactions, and business operations. Companies are now more vigilant in their reporting and self-policing.

While the work of auditors overlaps that done by accountants, their mandate is much broader. Auditors perform risk assessments and ensure compliance with regulations. Auditors examine the financial statements of companies and make sure that they are compliant with current legislation. Auditors review the books, general business practices, and procedures of companies and make recommendations for reducing costs, increasing revenues, or improving profits.

According to the BLS, the median annual salary for auditors is $71,550. This number is expected to rise by 4% by 2029. Auditors can also hold degrees in economics and corporate finance. A graduate degree in accounting can help you improve your prospects.

Another field in which a CPA license is required is this. A certified internal auditor (CIA) is another valuable credential that is internationally recognized.

Personal Financial Advisor

Individual financial advisors help clients evaluate their financial needs and make decisions about saving, investing, and budgeting. Advisors assist clients in achieving their short- and long-term financial goals. This includes retirement planning, tax planning, estate planning, and retirement planning.

Advisors can offer tax services, sell insurance and provide financial advice. Advisors might provide financial products, such as mutual funds, or manage investments directly or act as a liaison between an individual and an asset manager.

According to the BLS, the median annual income for personal financial advisors is $88,850 in 2019. The BLS projects a 4% growth rate for personal financial advisors through 2029/11, the average. It cites demographic trends such as the retirement of Baby Boomers, increasing self-employment, and shrinking private-sector pension plans. All of these factors drive the need for advisory services.

No bachelor's degree is required for this profession. Financial advisors may benefit from studying finance, math, and economics. Because they have to explain complex topics to non-experts, they need to be excellent communicators. Liberal arts degrees can help with critical thinking, analytical, and writing skills.

Individual financial advisors must pass several licensing exams to sell, buy, or trade stocks, bonds, insurance policies, or give investment advice. This is done on the job, as you must be sponsored or employed by a securities firm to pass them. Anyone can take the basic Securities Industry Essentials exam. Advisors can also obtain industry credentials such as the Certified Financial Planner credential to increase their visibility and network opportunities.

While financial jobs often come with high pay and prestige, they are also stressful; early career burnout is not uncommon.

The Bottom Line

It takes a lot of preparation and dedication to get your foot in the door of finance. This is a competitive industry, so you should treat it as a job. Make sure to network and stay up-to-date with the latest financial news. Keep learning, take further education, and be proactive.

Finance Jobs : Personal Financial Advisors Finance Sector Jobs

If you are a good searcher, the world of finance can be yours. Don't be discouraged if this is not your dream job. The goal is to get into that fortress. The rest can be done from there.

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