13 High Paying Jobs You Can Get with A Masters In Finance
If you’re a college student pondering the prospect of going to graduate school, it’s likely that you’ve been looking at business and law journals for ideas. There are plenty of reasons to go back to school and earn a masters in finance . You might want to make more money or you may be looking for a new challenge. Perhaps you want to try your hand at entrepreneurship, or you want to open your own financial advisor firm. No matter what your motivation is, certain fields will give you the best potential for a higher salary. Here are 13 high paying jobs you can get with a masters in finance
1. Personal Finance Manager
Personal finance managers are responsible for providing advice to individuals and families regarding their financial situations. However, these professionals are often in higher charge than financial advisors as they have the authority to make decisions on an individual basis about what changes should be made to their budgeting and spending habits.
As a personal finance manager, you will usually have a specific budget that you hope to stick to in order to ensure that your family is able to reach its goals. You may also recommend different types of financial products that can help your family achieve these goals including investments, retirement plans and insurance coverage.
Another area of expertise that you may be asked to provide services for is your client’s credit history. This will mostly be an issue for people who are trying to extend or purchase a new piece of real estate or get a loan against the equity in their home in order to make significant improvements to it. In order to work as a personal finance manager, education is not required beyond an associate’s degree in business or finance. However, having an MBA or CPA designation is recommended so that you can sit for the Certified Financial Planner exam as well as work at an accounting firm which offers these credentials.
2. Retirement Plan Analyst And Retirement Planning Consultant
A retirement plan analyst is one of the most important roles in the world of retirement planning. They usually work for a financial services firm that provides retirement plans such as a 401K or an IRA. Most people who work as a retirement plan analyst will also be responsible for reviewing the tax consequences of different financial decisions and they are often able to make recommendations that do not involve tax laws at all.
Most people who work as a retirement plan analyst will have their own internal clients and are paid by commission on the services they provide within their own organization. However, it is also possible to be employed by a pension fund or a private corporation and you can consult with other internal employees as well as external clients.
3. Banker
Average Annual Salary: $105,250
An MBA in finance can lead to a career in banking . While it is true that there are differences between the two – for example, certain colleges provide more financial training than others – there are many similarities as well. There is plenty of opportunity for advancement, and this can make up for earning less than bankers doing the same job with a business degree. The demand for bankers will also continue to grow over time. BLS predicts that 20,000 new jobs will be added by 2018, which means that you have an excellent chance of getting one of them.
4. Asset Manager
Average Annual Salary: $108,540
If you are looking to build wealth through investments, then you have your work cut out for you . The asset manager field offers plenty of opportunities for a high salary, as well as some unique career options as well. For instance, most asset managers enjoy traveling to meet with clients. If this is something you are interested in, then you can use your MBA to explore different career options.
5. Corporate Treasurer
Average Annual Salary: $108,960
Another great way to earn a high salary as an MBA in finance becomes a corporate treasurer . The median salary for this position is well above the national average at $108,960 per year. In fact, it is more than double the national average for $40,080 per year. You can also expect plenty of job satisfaction and the opportunity for advancement that comes with working for a large company or organization .
6. Portfolio Manager
Average Annual Salary: $109,630
A portfolio manager has the job of managing the money and investments of many people. These managers are responsible for balancing the funds that they receive from a variety of sources (such as retirement funds or government grants). On top of this high earning potential, you can expect to work in a fast-paced environment. The job is frequently technical, involving repetitive activities such as balancing a checkbook or analyzing investment data.
7. Investment Advisor
Average Annual Salary: $112,360
An investment advisor’s duties include helping people make informed decisions about their investments . This is accomplished by comparing investment options and making educated assessments of their value. Your MBA will make it easier to move out of the entry-level position, where you can earn less than $30,000 per year. You can expect to increase your salary as you advance through the ranks and gain experience.
8. Tax Consultant
Average Annual Salary: $112,800
Taxes! The tax consulting profession is highly demanding. You will spend a great deal of time analyzing tax returns and preparing them for audits . You also need to work closely with clients to help them determine how best to manage their taxes . The job generally has good benefits and leads to an excellent salary for those with a masters degree in finance.
9. Investment Banking Analyst
Average Annual Salary: $113,800
The investment banking analyst role is extremely demanding. Analysts must complete extensive research about companies that may be interested in a financial transaction . They must also determine exactly what these companies are worth and what it would take for them to make an offer. Your MBA will help you move up to an even higher earning potential.
10. Financial Analyst
Average Annual Salary: $115,420
The broad duties of a financial analyst are extremely varied and can be challenging, especially for those without an MBA. The job will include analyzing the financial state of a company and determining how a decision or new business venture might affect the organization . It can also entail developing economic forecasts for clients and helping them in other areas outside the typical finance field.
11. Market Research Analyst
Average Annual Salary: $116,020
Market research analysts generally look into what people want – not just now, but in the future as well. They are constantly scanning the market for trends, data and product developments. The job is extremely demanding and can take a toll on your health, but it will pay well. As a result, you will have a lot of job satisfaction in return.
12. International Business Consultant
Average Annual Salary: $118,700
International business consultants are in charge of advising their company’s clients on how best to expand or relocate within a particular field. You will be responsible for determining the most profitable markets in which your client can grow and helping them with other aspects of their global expansion. This type of consulting is extremely demanding and not a task that you should attempt if you are an entry-level candidate.
13. Financial Planner
Average Annual Salary: $118,720
Financial planners provide many services for their clients. The most basic services include helping them to plan for retirement, including structuring and funding retirement accounts. You will also provide everyone from the self-employed to executives of large companies with financial planning advice. That is a rewarding job that can pay extremely well if you have the necessary skills and experience.
If you are considering a career in finance, or if you already have a masters degree but need more income, then a good explanation of the most lucrative high paying job opportunities. There is never been a better time to get educated on finance and learn the skills that can propel your career. A Masters in Finance is an asset that can take you places; not just financially, but professionally too! Th post above gives an insight into some of the top positions within the industry and tips on how to land one of these lucrative jobs.