A Guide to the Highest-Paying Finance Jobs for 2024

Generative AI, cloud technologies, cyber risk, and more are disrupting the technology industry in 2024. With so many technological changes, the financial industry has to become more flexible than ever in response. But if history is any indicator, financial professionals will be the ones who help others navigate these big changes, making it a great time to consider entering the field. 

In high-paying finance roles, you can find several types of positions across sectors, allowing you to explore positions that match your interests and skill sets. Below, you can explore some of the highest-paying finance jobs: investment banker, personal financial advisor, chief financial officer, and financial analyst. Discover what these roles entail, how much you can expect to earn, and the job outlook for the field. 

What types of jobs are there in the finance industry? 

Common finance jobs include accounting, banking, corporate, financial planning, financial advising, and investment. According to the US Bureau of Labor Statistics (BLS), the need for professionals in business and finance will grow faster than the average for all other occupations between 2022 and 2032. The BLS expects about 963,500 openings in this area each year [1].

What are the educational requirements for working in finance? 

A bachelor’s degree in finance, business, or a related field will allow you to work in entry to mid-level roles in finance. Not only will it teach you about finance, but you'll also hone important human skills, like communication and leadership, that can help you further your education and advance your career. 

A master's degree in finance or business administration (MBA) may not be necessary for your desired role, but it can offer several advantages. It can help set you apart from the competition when applying for a job and prepare you for advancement into management positions. An advanced degree can also help you learn new trading or risk management skills.   

What are the highest-paying finance jobs? 

The world of finance is vast, with positions ranging from intern to chief executive. Explore the highest-paying finance jobs, the responsibilities for each position, how much they make, and the projected job outlook to explore whether one of these positions may be right for you.

Investment banker 

Average annual US base salary (Glassdoor): $173,659 [2]

Job outlook (projected growth from 2022 to 2032): 8 to 16 percent [3, 4] 

Requirements: You will need a bachelor’s degree at a minimum, a registry with FINRA, and licensure. A four-year bachelor’s degree in a finance-related area is typically required to enter the field of investment banking. Many employers also seek candidates with graduate degrees, such as an MBA. Investment bankers must pass the Series 79 licensing exam and register with the Financial Industry Regulatory Authority (FINRA). 

Investment bankers are finance professionals who help companies searching for funding find investors with adequate capital to meet their needs. As an investment banker, you would accomplish this by selling company equity, issuing debt, conducting market research, overseeing mergers, preparing legal documents for transactions, and more.

According to Glassdoor (July 2024), investment bankers in the US earn an average yearly base pay of $173,659. However, the estimated total pay is $392,853 after factoring in additional compensation such as bonuses, commissions, or tips [2].

Personal financial advisor 

Average annual US base salary (Glassdoor): $91,785 [5]

Job outlook (projected growth from 2022 to 2032): 13 percent [3]

Requirements: You will need a high school diploma, at minimum, with licensure. Formal degrees are not required to work as a personal financial advisor; however, many advisors hold a four-year degree in a related field. Some advisors may also earn a graduate degree to boost job prospects. Financial advisors must gain licensure by passing specific licensing exams, depending on the position and job responsibilities. Certifications are an optional step that a financial advisor may take as they gain years of experience in this role. 

Personal financial advisors are finance professionals that help clients manage their money. As a personal financial advisor, you might provide clients additional services such as budgeting, portfolio building, tax, and estate planning. 

Financial advisors can earn an average of $192,922 annually after factoring in commissions, bonuses, and other sources of additional pay, over doubling the total from base earnings [5]. 

Financial manager 

Average annual US base salary (Glassdoor): $102,339 [6] 

Job outlook (projected growth from 2022 to 2032): 16 percent [4]

Requirements: You will need a bachelor’s degree at a minimum and at least five years of experience in a related role, such as an accountant, to become a financial manager. 

In this role, you might work in various industries, creating action plans to help your organization meet its long-term financial goals and improve its health. Your duties might include preparing financial reports and forecasts, analyzing market trends, and helping management make financial decisions. 

On average, financial managers earn a total compensation of $142,664 yearly, including commissions, bonuses, and other additional pay [6]. 

Chief financial officer 

Average annual US base salary (Glassdoor):  $201,971 [7] 

Job outlook (projected growth from 2022 to 2032): 3 percent [8]

Requirements: As an upper-level management position, this role requires a four-year bachelor’s degree in finance or a related field like accounting, as well as extensive experience in varying finance roles. Many CFOs also hold a master’s degree in business administration or finance. As with other titles within the financial profession, certifications are not required but are highly encouraged to demonstrate proficiency in finance. 

A chief financial officer (CFO) oversees the organization’s financial operations. This might include managing cash flow, creating financial forecasts, and evaluating investment opportunities.

From 2022 to 2032, the US Bureau of Labor and Statistics estimates a 3 percent job growth for top executives, which includes chief financial officers [8]. This is an average job growth compared to other US professions. A CFO's average total wages in the US, including cash bonuses, commission, and tips, average $327,116 each year [7]. 

Financial analyst 

Average annual US base salary (Glassdoor): $79,269 [9]

Job outlook (projected growth from 2022 to 2032): 8 percent [10]

Requirements: Financial analysts must earn a four-year bachelor’s degree in a related field, usually business. Most financial analysts will need a license to sell financial products. Certifications and advanced degrees are optional.

As a financial analyst, your primary focus is to help individuals and businesses decide how to invest and diversify their money.  You might do that by staying on top of current economic trends and evaluating your employer's historical and financial data. 

The total compensation, including tips and commissions, for financial analysts in the US averages $110,807 annually [9].

How can I move into higher-paying positions in finance?

Common ways to move into higher-paying positions in finance include advancing your education level, completing industry courses, and gaining entry-level work experience. Taking steps to increase your knowledge and experience shows potential finance employers that you are willing to learn and committed to the industry. 

Degrees

You need a bachelor’s degree for employers to consider you for most finance jobs. While a master's degree is not always required, it’s likely to increase your odds of being hired for a higher-level position. 

According to the BLS, earning more advanced degrees leads to greater earnings and employment opportunities. For example, in 2023, someone with a bachelor's degree earned an average median weekly salary of $1,493 and faced an unemployment rate of 2.2 percent. Compare that to someone with a master's degree who made an average median weekly salary of $1,737 and faced a slightly lower unemployment rate of 2 percent [11]. 

Certifications 

Some employers may require certification as a qualification for certain job openings in finance. While generally optional, these credentials can help you land an entry-level job in the finance sector with little to no relevant experience or an unrelated degree. Common financial certifications you may pursue include:

• Certified Financial Planner (CFP) offered by the CFP Board

• Certified Management Accountant (CMA) offered by the Institute of Management Accountants 

• Financial Risk Manager (FRM) offered by the Global Association of Risk Professionals

Experience 

A 2022 National Association of Colleges and Employers study shows employers prefer experienced candidates [12]. Your background can be something other than directly finance-related, but you would ideally share strengths and skill sets with potential finance jobs. You can even start while getting your degree by completing an internship, which allows you to get practical, hands-on knowledge and experience in your desired field. 

Advance your finance career with Coursera

Finance is a growing industry that offers job security and, depending on what you do, high and competitive salaries. The more experience and education you have, the more likely you will earn a higher salary. 

Ready to begin your journey to a high-paying finance job? Consider enrolling in one of the many finance courses offered on Coursera. Coursera partners with world-class organizations, educational institutions, and businesses worldwide to offer continuing education courses, Professional Certificate programs, Specializations, and Degree programs.  

If your career goals include moving into one of the highest-paying jobs in finance, a CFO, consider the Think Like a CFO Specialization. For high-paying careers in investment management, consider the Investment Management Specialization.