The finance sector is a pivotal element of a nation’s economy. Finance professionals are multitalented experts who help identify the best ways of dealing with financial issues or challenges. They help organizations keep up with departmental and overall finances while also handling the core financial operations. Besides being one of the most lucrative career options, the finance industry demands an unprecedented amount of analytical labor. Naturally, finance professionals must be competent analytical thinkers who can identify new possibilities for financial gains.
As it is one of the world’s leading financial hubs, the US finance market is tricky to permeate through due to the highly competitive industry requirements. However, the right set of skills and educational background can help you step into one of the most dynamic career opportunities in the US.
Finance majors seeking job opportunities in the US finance sector are welcome to learn more through this detailed guide to acquaint you with the most lucrative career options in finance.
Top finance career options in the US
1. Investment Banking
The job profile includes all things money and the proper participation in the market to make it grow. In simple terms, investment banking deals with advising clients on innovative financial remodeling to raise capital through different functions that include various investment opportunities, bonds, managing IPOs, assisting mergers and acquisitions, etc. The clients may range from being private corporations or the government.
Investment banking is a prestigious field enjoying an average salary of $65,234 per annum, making it an attractive career opportunity for young finance graduates. Although the post-pandemic market volatility has complicated the market behavior, investment banking continues to thrive under the fluctuating market situation.
2. Financial Analyst
As the name suggests, financial analysts deal with company data to evaluate and deliver the most effective solutions through their strong financial modeling skills. The offered advice comes from a detailed analysis of historical trends and future projections to produce a company’s most well-rounded business decisions. Your financial analyst career may start from handling the junior analyst post that primarily involves collecting and maintaining data. Senior financial analysts further analyze this data to extract meaningful patterns and compile well-informed financial recommendations for clients.
3. Insurance Advisor
Career opportunities as an insurance advisor entail representing insurance companies and selling insurance policies to clients. However, contrary to an insurance agent, a career as an insurance advisor goes far beyond the selling part. With thorough knowledge of the insurance market and rising trends, an insurance advisor is driven to offer sound financial advice for buying the most profitable insurance schemes, investing opportunities, and retirement plans to individuals/companies. Individuals with excellent research skills interested in taking over customer service can go for this job without a second thought.
4. Financial Advisor
Ranking among the top 12 highest paying finance jobs by Indeed, financial advisors enjoy an elevated position amid various other options competing in its league. The career path demands that professionals are equipped with the proper financial training and skills to advise clients over varying financial decisions. Financial advisors help individuals and businesses reach their maximum profitability by winning over their financial goals in a limited time. Planning finances, managing taxes, seeking profitable investment opportunities, and projecting long-term goals for sustained growth are a few responsibilities of a financial advisor.
Typically, financial advisors have a bachelor’s degree in finance and other relevant fields like economics, business, or accounting.
5. Tax Lawyers
Fortunately, legal entities can enjoy career opportunities in the finance sector too. With growing finances comes the need to deploy a responsible figure to head the finance-related legal matters. And who better than a tax attorney to head the job?
Tax attorneys handle the legal aspect of finances while researching the acquired client data to make well-informed decisions. From filing an error-free tax return to heading the numerous aspects of mergers and acquisitions, tax lawyers enjoy a vital role in an organization’s financial and legal proceedings. Reports also speak in favor of tax attorneys looking forward to a brighter future through the post-pandemic era.
Accountants monitor and maintain financial records, help advisors and analysts with the same to create future predictions, and continuously interact with clients to deliver better results. Essentially, accountancy deals with several finance aspects to keep a company’s finances afloat.
This high-ranking profession amid best business jobs is also said to experience a surge of 4.3% employment growth between the year 2019 to 2029, offering a bright future career option for finance graduates.
Actuaries own the right soft and technical skills to solve financial problems. With statistical data and mathematics as weapons, an actuary measures potential risk factors and uncertainty attached to financial deals. An amalgamation of excellent business skills with analytical thinking and relevant soft skills is necessary to win over this career path.
As the US Bureau of Labor statistics reflects a growth in the career option, faster than any other average financial occupation, an actuary is bound to become one of the leading professions in no time. Owning the right set of skills may lead learners to aim for a successful career in the field.
Few other career options at a glance
Willing to keep a few more finance-based career options at hand? We’ve got you covered. Here are some more high-ranking career options for finance aspirants in the US. These roles demand at least a basic bachelor’s degree to proceed further in the finance sphere:
- Loan Officer
- Budget Analyst
- Compliance Officer
- Portfolio Management
- Corporate Finance
- Management Analyst
Brush up your Career with an MBA degree
Are you hoping to polish your knowledge further to pursue a successful career in finance?
A master’s degree in a relevant discipline can help you achieve it better than a run-of-the-mill bachelor’s program. upGrad offers the Master of Business Administration (MBA) for learners worldwide to kickstart their finance journey on an elevated level. In association with the prestigious Liverpool Business School, the course structure includes analytical, marketing, finance, and other invaluable skills to prepare learners for a smooth transition into the corporate world.
With a successful learner base extended over 85+ countries, upGrad has successfully compiled this program with the help of industry professionals and faculty experts.
The 18-month course is highly detailed and flexible, designed to create industry-ready professionals. Education service offered by upGrad includes developing a peer learning network, live sessions, and 360-degree career guidance for ensured student support. Students or working professionals, all eligible individuals, are welcome to get enrolled in the MBA program.
Before going for a finance major in masters, evaluate your options wisely. The mentioned disciplines may not resonate with your field of interest, but that shouldn’t stop exploring more. Finance extends a diverse range of career options containing opportunities for everyone. As long as you carry the right skills and are willing to upskill to keep pace with the dynamic industry, you have a promising career ahead of you!
Are finance jobs in demand?
Financial industry is evolving, and it is widely evident in the issued reports by industry professionals. The Bureau of labor statistics tends to agree with its report on the future of financial occupation projects growth by 10% in the following years, creating around 750,800 new jobs. Therefore, it is a suitable time for finance students to upskill and proceed in their interested areas of specialization.
Is studying finance challenges?
Just like any other subject and field, finance constitutes unique learning challenges and opportunities. From expert mathematical skills to deep analytical thinking, many traits are relevant to this career option. Therefore, any learner stepping into the finance sector must be ready to acquire the relevant skills with patience and dedication.
Does finance require a lot of math?
Finance primarily revolves around numbers and logic, so it is natural for the field to contain mathematical sections. However, if you develop a basic understanding of the fundamental maths concepts, you should be good to go.