Due to low unemployment and great salaries and benefits, the personal finance jobs sector continues to recruit top talent. Forecasts indicate that the financial industry will have above-average job growth over the next decade. By 2030, the business and finance sector will have added 7,50,000 jobs or 8% of the total employment.

According to the US Bureau of Labor Statistics, the median salary for business and finance positions was $76,570 annually in 2021. According to other sources, the typical starting pay for a finance professional is $88,160. A bachelor’s degree is often required for employment in the financial and banking industries to work in these job titles. Beneath, we have mentioned the top 10 best personal finance jobs with high pay.

1.   Financial Analyst

Finding out how markets, industries, or the best finance companies to work for are performing financially is what financial analysts do for a living. Financial advisors help clients or employers by collecting and analyzing data from company financial statements, economic indicators, and market movements. Investment professionals evaluate potential investments, project their future performance, and calculate the level of risk involved using various methods. They usually have a master’s or bachelor’s degree in this field.

Financial advisers are indispensable when managing financial risks, advising investors, and directing corporate strategy as it is one of the finance jobs that pay over 200k. You must have strong analytical skills and a firm grasp of economic concepts and markets to succeed. One of the highest-paid jobs in banking is financial analysis, which pays an average of $78,811 annually in the US. Read through the Financial Planning & Analysis and Performance Management (Wiley Finance) to become a great financial analyst to get more insight on being a financial analyst.

2.   Chief Financial Officer (CFO)

Managing the company’s finances is a top priority for chief financial officers. They oversee the budget, planning, and reporting to keep the company’s finances in order. Chief financial officers advise the chief executive officer and board of directors on strategic issues and make important choices about investments, mergers, and acquisitions.

Many individuals who want to be CFOs start as accountants or financial analysts so they can grasp financial management well. They may begin in an entry-level role and work their way up to become the CFO of a much bigger company.

The ability to effectively oversee a company’s financial strategies is a key factor in the salary of senior executives known as chief financial officers (CFOs). As of September 25, 2023, the average salary for this role is $433,088 if you work for the best finance companies. Depending on the industry and the company’s size, the exact amount might range from $328,098 to $555,618 annually. To earn this amount and become an expert CFO, skin through The Chief Financial Officer (Economist Books).

3.   Investment Banking

When governments, businesses, and other organizations need assistance generating funds via the issuance of bonds or stocks, they often turn to investment bankers and get jobs in investment. They also provide strategic financial advice for monetary transactions like mergers and acquisitions. Working long hours under continual pressure is a requirement for this position.

Most people working in investment banking begin their careers as entry-level analysts. A promotion to associate level is common after an analyst has worked for the company for a few years. To climb the corporate ladder and become a managing director, director, or vice president, you need experience and prove yourself worthy.

As of September 25, 2023, the average yearly pay for investment banking, one of the highest-paid vocations in the financial business, is $265,972. Salaries in this field vary from $56,256 to $475,687, not including bonuses when it comes to the finance jobs that pay over 200k.

4.   Hedge Fund Manager

Hedge funds use complex strategies to ensure their clients get big returns on their investments. Their duties in jobs in investments include overseeing the portfolio, selecting investments, and evaluating potential hazards. The fund’s health will determine how well you do in your position.

The typical hedge fund management path begins with a lower-level position, such as an analyst or trader. If you want to make it big in the hedge fund industry, you could get a promotion at your current company or start your own. Hedge fund managers may expect to earn a salary anywhere from $105,451 to $115,451 per year, with the exact amount depending on profit-sharing agreements and the funds’ success. If you want insight into a hedge fund manager’s life, read a real-life book named Diary of a Very Bad Year: Confessions of an Anonymous Hedge Fund Manager. This is an amazing book that I personally really enjoyed reading.

5.   Private Equity Associate

Companies that utilize private equity partners often invest in privately held businesses. Investment due diligence, transaction structuring, and active management of portfolio best finance companies to work for to increase value are all components of their job description. You need to be able to spot jobs in investment opportunities and have great analytical skills; the task is challenging.

Typically, a private equity associate begins their career as an analyst and advances to the associate and vice president levels as they gain experience and knowledge in the field. Eventually, they can want to start their own private equity company or join an existing one as a partner.

According to the latest data, as of September 25, 2023, private equity associates may expect to earn an average of $118,844 per year, with a salary range of $100,050 to $133,078. However, their total income may rise substantially as it becomes one of the finance jobs that pay over 200k. I learned a lot from this book, “Mastering Private Equity,” so you should get it, too!

6.   Actuary

Actuaries, who are mathematical and statistical experts, are trusted to evaluate risks related to financial and insurance concerns. They could help financial institutions like pension funds, insurance companies, and banks with pricing, underwriting, and investment decisions.

Most ambitious actuaries want to earn professional certifications after starting their careers as entry-level analysts. With time and more certifications under their belts, they may work up to senior actuary, chief actuary, or consultant status. Annual salaries for actuaries may vary from $114,075 to $117,075 depending on location, industry, and degree of experience for doing jobs in investment. This is a rewarding and secure profession.

7.   Private Banking Analyst

Private banking analysts are bankers who focus on serving the unique needs of very wealthy customers by developing personalized financial plans. Along with private bankers or relationship managers, they are responsible for conducting economic research, keeping clients informed, and creating individualized financial plans based on the client’s risk tolerance, financial objectives, and other factors.

Analysts in private banking generally build varied investment portfolios, analyze market movements, and conduct comprehensive research on investment alternatives to help their customers reach their financial objectives while avoiding risk.

Plus, they could be in touch with clients often to discuss investing strategies, field questions, and update them on the status of their finances. They are very analytical and have a solid background in finance. With an average annual compensation of $89,614 in the US, a private banking analyst is among the highest-paid positions in the financial industry.

8.   Economist

If you want to know how a country’s economy works, ask an economist about its production, distribution, and consumption habits. Economists seek to fulfill basic wants and needs by studying the decision-making processes of governments, businesses, and individuals regarding resource allocation.

A bachelor’s degree in finance or a closely related field is required for consideration for this position. One may focus on macroeconomics, which examines aggregates like national income, employment, and inflation, or microeconomics, which examines particular markets and decision-making units.

Universities departments, government agencies, research centers, financial institutions, corporations, and non-governmental organizations (NGOs) commonly employ economists. Economists study various topics, including development, finance, the environment, and labor. Economists in the United States earn an average of $114,112 annually, among the highest salaries for financial experts.

9.   Financial Risk Manager

Financial risk managers are experts in recognizing, evaluating, and controlling monetary dangers. The organization’s economic health and performance are vulnerable to several risks, such as regulatory changes, operational breakdowns, insufficient liquidity, loan defaults, and volatile markets. Hence, having a solid background in accounting or finance is essential for doing jobs in investment.

Firms may use risk management approaches, statistical analysis, and sophisticated quantitative models to negotiate regulatory requirements better, secure investments, maximize risk-return trade-offs, and comply with unpredictable economic situations. Once such threats have been identified, they are mitigated or eradicated.

You should be proficient in mathematics and have an in-depth knowledge of financial goods and markets to be considered for this position. Financial risk managers are among the highest paid in the banking industry, with yearly salaries averaging $137,690 in the US.

10.                Credit Risk Analyst

Credit risk analysts typically make $71,520 per year, and this will possibly become easier if you read the Credit Analyst’s Survival Manual: A Practitioner’s Guide to Active Credit Risk Management and Analysis. This book can give you insight into the workings of a credit risk analyst and how to handle problems that come with the role. Credit ratings impact every level of society, from individuals to whole countries. Better housing and personal finance jobs prospects are within reach, with a high credit score. It is easy for a firm to get investors for its projects when it shows fiscal discipline.

Many things will need your verification, doing jobs in investment and credit risk analysing. Factors to be considered include the current economic situation, the companies’ credit records, and their financial situations. Your credit risk assessment determines the interest rates and loan conditions. Based on your findings, a corporation could be experiencing moderate financial difficulties.

You should charge them more or provide stricter terms to lend that company more money. There is evidence that a certain company is likely to pay back its debts when they are due. An option you might propose is raising the credit limit. Stay away from high-risk loans; it’s your responsibility. Additional investment options may present themselves to you after you get into the personal finance jobs.