High Paying Financial Industry Jobs
If you work in the financial industry, you better make money - otherwise, you aren't very good at your job, are you? Financial industry jobs are abundantly available, even when the overall job market is challenging.
In this industry, it is all about climbing the corporate ladder. The first job you take in the financial world may not give you that six-figure paycheck you want, but the good news is that talent is rewarded quickly in this industry. After just a few years of experience under your belt, you could easily be in the $100,000+ range.
When you say "financial industry," most people immediately think of bankers and stockbrokers. Those jobs are definitely available, but they do pose some problems. To become a banker, you need time.
Usually, bankers start out as low-level bank clerks, working their way up through the chain over several years. So, it may be a decade or more before you're in a $100,000-salary job.
Stockbrokers are the opposite. The problem here is that working with the stockbroker is extremely risky, especially if you are involved in day trading. One day you could make a million and the next you could lose it all.
Want a more stable $100K career? The financial industry has a lot of other jobs to offer. Consider the following career paths:
- Accounting: Not every accountant has a six-figure income, but the potential is definitely there, no matter where you live. To become a CPA, you need a master's degree or a bachelor's degree and year of auditing experience. You also need to pass a difficult four-part accounting test. The top accounting jobs pay well over $100,000 a year, so the time and schooling is definitely worth the payoff.
- Credit/Financial Analyst: Credit analysts and financial analysts play with other people's money. They are like financial advisors for a business. As a credit analyst, you'll prepare reports that outline the risks and benefits of loaning money to someone, and as a financial analyst, you'll prepare reports that outline the risks and benefits of long-term investments. In both cases, your salary depends on your location and employer, but if you work in a city for a large firm, you can easily make over $100,000.
- Financial Examiner: A financial examiner is the person in a company that makes sure every investment is legal and follows company regulation. The most money can be made if you work for a government organization or a Fortune 500 company, but be warned that this is a career for the detail-orientated - if you make a mistake, you could cause huge legal problems and lose your job.
- Personal Financial Advisors: By far, one of the most lucrative careers in the financial industry is becoming a personal financial advisor. You'll work one-on-one with individuals to recommend investments, helping them make money. If you work for a single person, like a celebrity, you could make way more than $100,000 annually - sometimes, advisors even approach the million-dollar mark.
In the financial world, branching out on your own in a number of industries can also help you make money. For example, in the real estate industry, you can make a lot of money by starting your own agency. There are definitely opportunities here, and once you're experienced in a financial career, you won't just make a six-figure income; you'll know how to invest it to make even more money.