The finance industry offers a diverse range of career opportunities, attracting professionals with a variety of skill sets and interests. Salary expectations in finance can significantly vary based on the specific job role, the level of experience, the industry sector, and the location.

In this article, we will explore some of the most common jobs in finance and provide salary ranges for each based on experience levels. Additionally, we’ll delve into a day in the life of professionals in each career category to offer a glimpse into the daily routines and responsibilities.

Investment Banking

Analyst (Entry-Level): Salary Range: $70,000 – $100,000 per year. A day in the life of an investment banking analyst involves conducting financial analysis, creating pitch books, building financial models, and supporting senior bankers in deal execution. This high-paced role requires long working hours, intense research, and attention to detail.

Associate (Experienced): Salary Range: $100,000 – $150,000 per year (plus bonus). As an investment banking associate, professionals take on more responsibilities in deal execution, client communication, and project management. They work closely with analysts and senior bankers, playing a crucial role in the transaction process. Associates often work long hours during deal execution periods.

Corporate Finance

Financial Analyst (Entry-Level): Salary Range: $60,000 – $80,000 per year. Financial analysts in corporate finance analyze financial data, create forecasts, and assist in budgeting and financial planning. They collaborate with various departments to gather financial information and present insights to management. This role requires strong analytical skills and attention to detail.

Finance Manager (Experienced): Salary Range: $80,000 – $120,000 per year. Finance managers oversee financial operations, develop strategies for cost optimization, and prepare financial reports. They play a key role in decision-making and work closely with senior management to set financial goals and strategies.

Financial Advisory Services

Financial Consultant (Entry-Level): Salary Range: $50,000 – $70,000 per year. Financial consultants assist clients with financial planning, investment advice, and retirement planning. They conduct risk assessments and recommend suitable investment products. Building a client base is crucial for success in this field.

Certified Financial Planner (Experienced): Salary Range: $80,000 – $120,000 per year. Certified Financial Planners (CFPs) provide comprehensive financial planning services to clients, including retirement, tax, estate, and investment planning. They may work independently or with financial advisory firms.

Private Equity

Analyst (Entry-Level): Salary Range: $80,000 – $100,000 per year (plus bonus). Private equity analysts conduct due diligence on potential investments, assist in deal sourcing, and build financial models. They work closely with senior team members to evaluate investment opportunities.

Vice President (Experienced): Salary Range: $200,000 – $400,000 per year (plus bonus). Vice Presidents in private equity are responsible for managing deal teams, sourcing new investments, and building relationships with portfolio companies. They also participate in fundraising efforts and investor relations.

Financial Technology (FinTech)

Data Analyst (Entry-Level): Salary Range: $60,000 – $80,000 per year. Data analysts in FinTech companies work with large datasets, analyze customer behavior, and provide insights to optimize product offerings. They collaborate with software engineers and product managers to enhance user experiences.

Product Manager (Experienced): Salary Range: $100,000 – $150,000 per year. FinTech product managers oversee the development and launch of new financial products and services. They work with cross-functional teams to define product strategies and drive innovation.

Interested in the best companies to work for in finance? Read our article about it here “The Best Companies in Finance.”

Is a Finance Job Right for You?

The finance industry presents a wide array of fulfilling careers, each offering varying salary ranges depending on experience and specialization. Whether you are considering investment banking, corporate finance, financial advisory services, private equity, or FinTech, it’s essential to assess your skills, interests, and career goals to determine if a finance job is the right fit for you.

Professionals in finance can expect dynamic and challenging roles that require analytical acumen, attention to detail, and a dedication to continuous learning. If you thrive in fast-paced environments and are motivated by the intricacies of financial markets, a finance career might be an excellent choice.

Keep in mind that finance roles often demand long working hours, especially in certain positions like investment banking and private equity. Thus, a strong work ethic and adaptability are crucial for success in the industry. Additionally, finance professionals often interact with clients, colleagues, and stakeholders regularly, necessitating excellent communication and interpersonal skills.

Before embarking on a finance career path, consider exploring internships, networking with professionals in the field, and gaining exposure to different areas within finance to identify the area that resonates most with your passions and strengths.