The Best Highest Paying Finance Jobs
These are the same career paths in finance we have our students target, because of their high compensation levels, and because of the great exit opportunities you can get from them. This is Tier 1 Wall Street, where we help students and recent grads get the tools they need to land some of the highest paying jobs in finance.
So you know exactly what to target coming out of school. Let’s go. (energetic electronic music) Okay,
So for our first job, we have one that’s pretty little known and tends to fly under the radar. And that’s corporate development. What is corporate development? It’s essentially where you’re doing mergers and acquisitions work for like a big Fortune 500 company.
So think of a healthcare based company that grows by acquiring different surgery centers. You would be the analyst that does work in terms of identifying potential acquisition targets, putting together the models behind it, and doing a lot of other things related to that.
Corporate development is pretty similar to investment banking, which I’ll explain in a little bit, because you’re doing a similar type of work. But it comes with a much better lifestyle, ’cause you’re not gonna be working the same kind of crazy hours you would for something like investment banking. But even with that, you can still be making anywhere from 75,000 to $110,000 right out of school.
So if you’re looking for a really good analytical type job, where you can have a great lifestyle and make a good amount of money, corporate development’s a great fit. And the nice thing about it is you can use something like this to even leapfrog into a job like investment banking, which leads me into my next role, which of course, is investment banking.
Investment banking is probably one of the most lucrative, sought after entry level jobs in finance, probably because of its high pay. Within investment banking, you could be making anywhere from 90,000 to 140,000 in total compensation right out of school, which probably makes it one of the highest paying jobs in finance.
So what is investment banking? It’s essentially where you’re gonna be working on different deals and transactions that a bank would be doing for a company. So for example, you can be working on anything from a merger between two companies, an IPO of a new company, or even just a basic, you know, bond issuance deal.
And within an investment bank, it can be broken down in a couple different ways. One way is by industry, where you can be on a healthcare team, a TMT team, a natural resources team, et cetera. It can also be broken down into product groups, where you can be on the mergers and acquisition team, M and A, the leverage finance team, levfin, and of course, they also have the capital markets division, where that’s usually broken into equity capital markets and debt capital markets.
So like I said, investment banking comes with one of the highest comps you could possibly get right out of school, but it also comes with some of the highest hours you can be working out of school. You know, normally, you’ll be doing anywhere from 80 hours to 100 hours a week, sometimes even going up to 120 hours.
So as long as you can handle doing PowerPoints and building out models till two o’clock in the morning and being back there at seven, great. But the nice thing about investment banking is it comes with some of the best exit opportunities in the industry and is a great way to break into things like private equity and asset management, which I’ll explain later on. Next up, we have sales and trading.
So what is sales and trading? It’s pretty self-explanatory. It’s basically where you’re doing trading for a big name bank. And one of the big differences between sales and trading and investment banking is usually a little bit less hours with sales and trading, but it tends to come with higher pressure situations because you’re trading legit money.
So if you’re one of those people that would prefer less hours, but can handle the higher pressure situations and maybe just need to cool off at the end of the day, it’s a great role to get into. And at the same time, if you’re interested in things like investing and trading longer term, it’s a great place to start.
And within a job like that, you could be making anywhere from 90,000 to $125,000 in total comp right out of school. So depending on which route you wanna go, both investment banking and sales and trading are great jobs to get into. Very, very competitive, but at the same time, obviously some of the highest paying jobs within finance.
Next up, we have corporate banking. So what is corporate banking? It’s kind of similar to investment banking, but obviously it’s different at the same time. So, corporate banking, you’re more focused on analyzing a company’s credit worthiness, the terms of the loan and stuff like that.
Whereas within an investment bank, you’ll be focused more on like high yield bond issuances, and more like LBO type of stuff. But corporate banking is still a great role to get into, and you could be making anywhere from 90,000 to $125,000 right out of school.
Next up, we have equity research, and what is equity research? It’s essentially where you’ll be putting out research reports for a bank or even a small firm. So if you ever been on Yahoo Finance or Google Finance, and you saw an article about how a Morgan Stanley analyst put out this new report or this new price target on Tesla, that’s the equity research department.
So you’ll be analyzing different stocks, you’ll be putting together research on your opinions, you’ll be putting out reports after earnings, building out models, et cetera. Great job to get into, usually not as easy and direct to get into entry-level right out of school, but there’s still ways to do it, and if you’re able to do that, you can be making anywhere from 90,000 to $120,000 right out of school.
So now that we’ve talked about the banks for a little bit, we’re gonna move on to a different section here, which is the big four accounting firms. Now normally, when you think of an accounting firm, you’re probably thinking audit or tax and all that kind of boring stuff. But within some of the accounting firms, they actually have some good departments which are good jobs to use to kind of leapfrog into some of those lucrative banking type jobs like I mentioned before.
One of those being corporate advisory, where essentially you’re doing advisory and consulting base work on different deals and transactions that the accounting firm might be working on. There’s also things like valuation, where you’ll be doing work in terms of valuing companies, certain parts of deals, et cetera, et cetera. And within these jobs, you can be making anywhere from about 75 to $85,000 right out of school.
So still a pretty lucrative career to get into if you can get into either of those departments, and both of those jobs are great to use if you’re trying to look for that kind of stepping stone job to kind of leapfrog you into one of those more lucrative banking type jobs like I mentioned before. Next up, we probably have our most lucrative group of the bunch, which is the buy side. And on the buy side, this is really where you start to see some of the highest paying jobs in finance.
So what is the buy side? The buy side is where you’re working at a firm that manages other people’s money and invests it in stuff. So our first group here is gonna be private equity. So what is private equity? That’s where you’re investing other people’s money into private companies, whether it’s a company that’s completely private, or it’s a company that’s public and you’re taking private via an LBO.
And you were probably thinking before, why do people do all those crazy hours in investment banking? Why do you put up with it? Obviously, comp’s great, but you know, it’s nothing like super.
So if you’re on a big-name private equity firm, like a KKR, you could be making anywhere from 100 to $250,000 in total compensation. That’s why people do investment banking because normally to get into a big-name private equity firm like that, it takes about a year or two of investment banking experience to make that leap. So the reason people do that crazy stuff within investment banking is to make the leap to the buy side, whether it’s a private equity firm, hedge fund, asset manager, whatever it is.
There are a lot of other small private equity firms out there as well, that you know, you obviously won’t be making the same kind of comp. To get into a really, really big name one, you know, right out of school, probably a little bit tricky, you know, you would probably need some serious internship experience under your belt with investment banking or other private equity firms, and you would need some pretty legit connections to help you get in, but it’s not completely impossible.
And like I said, there’s thousands of private equity companies out there, where you can have better odds of getting an entry level job right out of school, but you won’t be making that crazy comp like I said before. Next up, we have asset management. And here I’m specifically referring to like asset management within a big bank like a JP Morgan, or big firms like a Fidelity or a BlackRock.
Same kind of idea as private equity, except you’re pretty much investing in whatever the firm’s style is. So it can be anything from equities to debt to private companies to startups, whatever the firm’s strategy is, that’s what you’re investing in.
And within an asset management job at like one of the big banks or like a BlackRock, you can be making anywhere from 85,000 to $110,000 in total comp right out of school. So again, this is also a very, very competitive job within finance, you probably need some pretty solid internship experience on your belt, but it’s definitely something you can get into right out of school if you’ve played your card right.
And you might be thinking, why haven’t you talked about hedge funds? The big hedge funds, they pretty much always require a good amount of investment banking experience, it’s not something you’re really gonna get into right out of school unless you have some ridiculous connections and really know your stuff, which is why I haven’t mentioned it.
Last up, we have credit. It’s essentially where you’re doing work in terms of analyzing a company’s credit worthiness, a piece of debt’s credit worthiness, et cetera. So specifically, I’m gonna refer to the rating agencies like Moody’s, S&P or a Fitch. And within a rating agency like that, you could be making anywhere from 75,000 to $85,000 right out of school, which is still a pretty lucrative role to get into.
Because on the job, you’ll be doing stuff pretty similar to some of the things you would do at an investment bank. You’ll be working on deals, you’ll be building out models on companies, et cetera, et cetera. And working at a rating agency within the credit space is also a great thing to do if you’re looking for a job that can help leapfrog you into something more lucrative, like investment banking, or something on the buy-side.
Accounting assistant job description and salary
Accounting assistant job description and salary Accounting Assistants support a company in its day-to-day accounting duties.
Their typical job duties may include:
- Answer phone calls (interact with customers by phone and email).
- Upload and scan documents for entry into the company’s document-tracking software.
- Process sales invoices, company receipts, payments from customers and suppliers.
- Reconcile bank statements.
- Monitor accounts payable, following up on outstanding balances when required.
- File, sort, and fax documents and correspondence.
- Review documents for accuracy and completeness Work on spreadsheets.
- Track inventory The accounting assistant may report directly to a Senior Accountant or Controller. Typical work schedule Most Accounting Assistants work typical business hours between 9 a.m. and 5 p.m., Monday through Friday.
However, some of them work longer hours during busy periods, such as at the end of the financial year and tax time (when they assist with completing financial reports and tax returns). Required experience Since an accounting assistant is usually an entry-level position, employers may not require a significant amount of accounting experience from the candidate.
If you already have experience in accounting, your chances of getting hired are higher. Accounting programs knowledge: You would need to have experience using office computer programs, like: spreadsheets, databases, word processing software.
Salary According to PayScale: The average Accounting Assistant hourly pay is 16.59 Career perspectives: Accounting assistants with a Bachelor’s degree in accounting (or a related field) may advance to a role as a Staff Accountant, and Auditor, or an Accounting Manager.
They also may work as Certified public accountants (CPAs) after obtaining CPA certification. CPA’s may often perform audits, advise on taxation matters, investigate fraud, and/or conduct business valuations. The average Certified Public Accountant (CPA) salary is $35/hour
Finance and Insurance Careers | Career Cluster / Industry
A majority of careers in the finance and insurance industry require a four-year degree, however, some require only a high school diploma, such as tellers and account clerks, while sales agents may have no specified education requirement.
Although some entry-level careers are shrinking as technology automates tasks, job opportunities will continue to be available due to retirements and turnover, likely with some role changes. Apprenticeship programs are available in some states for careers that include claims adjusters, insurance underwriters, and credit coordinators.
An associate degree or a certificate typically qualifies candidates for jobs such as auto damage insurance appraiser, loan interviewer, insurance claims clerk, or insurance policy processing clerk. With a bachelor’s degree or further education, in-demand careers include brokerage clerks, securities and commodities traders and sales agents, loan officers and interviewers, actuaries, and financial advisors.
Licensure to practice is required in some states for several of these occupations, such as mortgage brokers and accountants. Is a career in the finance and insurance industry for you? Keep these points in mind: Most careers in this industry require the skills to work meticulously with documents and policies, maintain records, and interpret government regulations and laws regarding their work. You may be liable if an action does not meet compliance.
The finance and insurance industry typically has a more formal dress code than many other industries. Employees’ appearance contributes to a company’s impression as being trustworthy, upright, and reliable. Work schedules typically follow a routine 9-to-5, but work hours may extend for those who work for clients or need to be available when opportunity strikes. When it comes to managing investments, your coworkers are often your competitors; if you don’t capitalize on an opportunity, they might.
Entry level interview questions for Accounts, Accounting, Finance Jobs
I would like to share with you some important and yet common questions for the entry level positions in accounts accounting or finance.
These are some common questions and yet no two employees might ask the same question so better be prepared for as many as possible lesson again question number one why did you select accounting as your profession question number two what did you do in your last job Christian number three.
Where do you see yourself in the next two to three years question number four what is the most recent skill you have learned how many invoices on an average you process or prepare on a daily basis or on a weekly basis what would you do if you notice discrepancies in the invoices prepared by someone else in your office.
How do you define departmental accounting define fictitious assets by saying perpetual or periodic inventory system what do we mean in accounting how do you define premises living do you possess any knowledge about Accounting Standards true do you think accounting standards are mandatory.
And why 13 define executive accounting footing define public accounting 15 have you ever made suggestions to your seniors tell us about that and in addition to these questions there may be equation why should we hire you.
Entry level finance jobs salary
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.
Entry level finance jobs for recent graduates
- Actuary. Actuaries calculate the financial cost of risk in order for companies to estimate the potential impact of various events.
- Financial Analyst.
- Credit Analyst.
- Data Analyst.
- Budget Analyst.
- Insurance Underwriters.
- Insurance Claims Adjusters.
- Compensation and Benefits Specialists.
List of careers in finance
- Investment Banking. If you wish to follow in the footsteps of one of the most successful and thriving investors such as Mr.
- Corporate Finance.
- Public Accounting.
- Portfolio Management.
- Financial Planning.
- Stock Broking.
- Risk Management.
Entry level finance jobs near me
Entry level finance degree jobs
The most popular entry-level jobs include analysts, tax associates, auditors, and financial advisors. “Entry Level Finance Jobs in the USA”. Financial Analyst Entry Level Jobs: Credit Analyst · Corporate banking · Credit policy · Tools · Monthly reports · Financial statement analysis · Financial services. Best Entry-level Finance Jobs By Salary and Growth Rate · Accountant · Actuary · Financial analyst