Financial careers are well-known as lucrative, high-paying paths for aspiring wealth builders. But not all finance jobs pay the same. A recent article appearing in Business Insider, in collaboration with the social website LinkedIn, reveals which finance jobs are the highest paying.
The article incorporated salary and compensation data from jobs “in the banking, capital markets, financial services, insurance, investment banking, investment management, venture capital, and private equity industries.” Keep in mind that many of these jobs provide total compensation packages beyond base salary, often including sign-on bonuses, stock options, annual bonuses, and commissions. The rank is ordered against Total Median Salary (TMS), which includes these extra compensations. TMS is often substantially larger than base salaries for financial jobs.
TMS = $375,000. The managing director of a company is in charge of the whole business and included the big picture, the day-to-day stuff and everything in between.
TMS = $236,000. The holder of this position is a senior partner in the firm, charges with the overall practice, management and operations of the business.
Investment Banking Associate:
TMS = $235,000. The Investment Banking Associate helps in raising capital to enable the business to conduct their profit-making activities and to fund future growth.
TMS = $200,000. Treasurer is charged with managing the cash and cash-flow of the firm, with the overall goal of forecasting and developing future cash management for the firm.
Director of Analytics:
TMS = $192,000. The holder of this position supervises the team that analyzes business performance against specific targets, metrics and benchmarks, with the goal of identifying area that need improvement.
TMS = $190,000. The Research Director plans and directs the activities and deliverables of the research staff, ensuring the research results are provided in a timely fashion to impact the organization.
TMS = $187,000. Responsible for tax compliance, tax planning and income-tax accounting, the tax director often assists the Treasurer of the firm in assuring that taxes are payed in accordance to regulations while also ensuring that the company’s profitability is maximized.
Director of Financial Planning and Analysis:
TMS = $180,000. The person with this title is in charge of business forecasting. By scrutinizing the firm’s financial trends, this person recommends strategies for performance improvement.
Private Equity Associate:
TMS =$180,000. The focus in this position is to attract capital to the firm from institutional investors as well as from individuals who have major funds and are sympathetic to the business.
Director of Product Management:
TMS = $170,000. A critical job, this person develops and oversees the company’s product line, with an eye to maximizing business deliverables.
In summary, not all finance jobs are created equal but many are very high paying. Finance continues to be an arena where talented individuals will be compensated handsomely for the value they provide.