Five Most Lucrative Jobs For Those With a Finance Degree
- Financial Software Developer
- Financial Planning and Analysis
- Financial Analytics
- Investment Banking Associate
- Private Equity
Finance degree jobs and the security they provide is arguably one of the biggest advantages of obtaining a college degree in finance. Given the plethora of opportunities in this field, finding a job is not hindered by unemployment rates, political situations, or the economy. In fact, financial experts are one of the few professionals that will always be needed regardless of the conditions in the market.
1. Financial Software Developer
Although financial software developers are primarily focused on working in the information technologies, they have to maintain a full grasp of applicable financial concepts. This is the only way for them to produce and oversee software that can be used to streamline the markets and increase efficiency. As far as prospective jobs, one can expect to find opportunities anywhere from small banks all the way to the Wall Street itself. Additionally, this job easily leads to a six-figure salary as one gains the necessary experience. The note-worthy compensation, however, is something that can also be attributed to the next four examples.
2. Financial Planning and Analysis
Commonly known as FP&A, financial planning and analysis experts are in-house operators who work internally. Meaning, their job is to inform the senior management of the company if the future decisions make financial sense. So, they conduct cost-to-benefits simulations and figure out what direction a corporation should go to maximize revenues. Besides finance, those who do FP&A also need a lot of management skills as well as a firm understanding of operational goals and underlying objectives. This is necessary in order to properly evaluate opportunities that the company may have to choose between.
3. Financial Analytics
Unlike the previous job, those who get finance degrees and become financial analysts will analyze the company’s existing ventures. Their role is to inform the superiors and senior management about unprofitable expenditures that could be eliminated. For example, if a business has multiple investments with similar risk factors, financial analysts are the ones who look for more lucrative opportunities while deciding if the returns on those investments are worth the wait. They deal with the time value of money, informatics, technological upgrades, research, and so on.
4. Investment Banking Associate
To simply describe what investment bankers do, one could think of them as the market’s middlemen. When a new corporation is planning to go public via an IPO (Initial Public Offering) where stocks are sold, investment bankers will connect the buyers to them. They mitigate transactions and enable companies to raise capital through crowdfunding. Their careers often consist of long-term ventures where they work with similar corporations over an extended period of time. Furthermore, these professionals also facilitate the allocation of the resources raised and offer financial advice to both buyers and sellers.
5. Private Equity
Although all of the jobs on this list are popular amongst the graduates with a finance degree, private equity is typically the most attractive career choice. It is a field where private equity firms make large investments by purchasing companies directly. That means that they often avoid raising capital to buy stocks. Instead, they simply offer full buyouts to businesses and purchase their entire organizations. Those who begin their career in this field usually must have prior experience in investment banking and be ready to handle analytics-related work. As their career progresses, however, they become more involved and start making high-level decisions themselves.
As with most other industries, the salaries in finance will be directly related to one’s experience. Working at a firm for a decade, per se, will generally come with a hefty compensation, bonuses, and benefits. Thus, the easiest way for one to obtain any of the lucrative finance degree jobs is to start low and climb up the organizational ladder.