While salaries shouldn’t be the sole concern of one’s job hunt, it’s certainly important to consider what you ought to be making versus what’s being offered. Most people get into finance because they’re curious about this kind of monetary divide and how it can be rectified.
Finance is also a steady industry with a lot of rewarding work to be done – if you like handling and observing money, all the while making stacks of it yourself, this is probably the career path for you. Positions in insurance firms, financial services, investment management companies, venture capital, banking, and so many others, offer a great deal of benefits for individuals just beginning their careers. Everything from sign-on bonuses, company stocks, commission, and even annual bonuses are fair game in certain positions of power.
In short, both accounting and financing offer a lot more compensation than most people expect, depending on the particular kind of field you enter into.
In this sense, it’s necessary to know which jobs may pay more than others – the following list will outline precisely how and why some positions are more popular and competitive than others.
If you’re an overseer at a financial services corporation, you’re likely to be making somewhere in the six-digit range – the average salary of managing directors usually falls around $375,000 per year, with the possibility of growth over time. While this position requires a lot of commitment and hard work, it definitely pays off. While most positions in a company will find the best candidate with an executive search firm or a team of expert internal recruiters, managing directors usually are usually found by way of promoting a dedicated team member with years of experience and rapport under their belt.
Investment Banking Associates
These positions are often filled by only the best analysts in the business, with a minimum of two years of experience, as well as an MBA. In other words, they’re like analysts, but with more responsibilities, occasionally acting as a mediator between the vice presidents and the analysts they supervise. Their salaries are typically $235,000 annually.
This position usually caps off at around $200,000 per year – arguably, the position is underpaid, given how many responsibilities are shouldered onto any given company’s treasurer. More specifically, they are responsible for general financial oversight, funding and fundraising, financial reporting, book keeping, and fixed assets and stock.
Suffice it to say, treasures deal with capital, perhaps most of a company’s capital. It’s a stressful position, but one that is nonetheless highly laudable.
There are so many possibilities in the world of finance; no matter which high-paying position you’re seeking, you’ll need a lot of gumption – and a spotless resume – to land it. Be sure to give yourself a generous amount of time for each interview; you never know which meet-and-greet will change your life forever.