The finance and accounting job industry has many opportunities for people looking to grow in the field and move up the ladder. For Instance, from 2020 to 2030, the U.S. Bureau of Labor Statistics predicts an 8% increase in employment in the financial industry. Therefore, with such an optimistic forecast, companies are attempting to acquire fresh finance and accounting expertise as the financial industry changes. This is a prime opportunity for students to get experience and break into the field and for existing patrons to move into new opportunities.
The financial industry is quite competitive. After all, it is a famously high-paying sector. Here are the finance and accounting jobs in high demand nowadays:
Portfolio Management jobs
Portfolio managers, informally referred to as money managers, have enormous authority and responsibility since they actively supervise institutional and retail client investments in their day-to-day jobs.
They advise clients on tailored investment plans. In addition, to their particular investment choices. Focused firms hiring portfolio managers look for people with backgrounds in research and analysis. Others have larger mandates, like a multi-asset class approach. Therefore, these companies frequently seek managers with a comparable breadth of investing experience and understanding.
Median annual salary: $81,590
High earners: $156,150
Corporate Finance and Accounting jobs
The financial division of a company offers other career opportunities in the field as diverse industries use specialists. . The job title with vital positions for companies in 2022 are:
Controllers play a critical part in many organizations aiming to bounce back from economic loss in the pandemic. They oversee all financial functions, including inventory, accounts payable and accounts receivable, and payroll. In addition, they ensure general ledger transactions comply with governmental and professional standards.
Median annual salary: $225,258
10-year growth projection: 17%
Financial managers are among the highest-paid positions in the finance sector and are employed by every firm. The financial manager is responsible for the financial stability of the company. Above all, they assist in achieving the company’s long-term goals by providing financial reports and creating plans. They are in charge of risk management, planning, bookkeeping, and financial reporting, as well as all financial elements of the company.
Median annual salary: $134,180
10-year growth projection: 17%
The accounting manager oversees the preparation of ledger accounts and financial statements. For instance, they analyze and report financial data, aid with tax processing, and prepare the financial statements to present to the board of directors.
Median annual salary: $79,000
10-year growth projection: 7%
Credit risk, market risk, operational risk, and liquidity risk are just a few of the traps that may befall firms, and risk managers stay on top of them all. To monitor, manage, and reduce these risks, businesses are spending a massive amount of money on both sophisticated technology and skilled personnel.
Median annual salary: $166,950
High earners: $230,280
Traders frequently receive higher capital allocations. At commercial and investment banks, asset management companies, hedge funds, and other places, there are trading opportunities available that can land early learners on a flourishing path where they can grow.
Above all, wherever they operate, traders aim to increase the bid-ask spread to make money for their employer or clients. When trading on behalf of a customer, traders for asset management companies look for the best price for the securities. Traders for hedge funds take proprietary positions to profit from anticipated market changes.
Median annual salary: $91,000
Investment banking jobs
Investment banks frequently provide capital-raising assistance to businesses, governments, and other significant financial institutions, as well as strategic advice. They support mergers and acquisitions, make investments in start-ups, and float businesses. A variety of financial items, including stocks, bonds, and other securities, are also commonly bought, and sold by them.
Some of the jobs in higher demand in the industry are:
Mergers and Acquisitions
Bankers that specialize in M&A are experts in giving strategic counsel to businesses. For instance, seeking to combine with rivals or acquire smaller companies. Financial modeling is a tool used by M&A bankers to assess these possible large-scale transactions. However, these positions often include dealing with high-profile executives. Therefore, M&A experts must be able to persuade the executives of the merits of their proposals and also be able to work well with clients.
Median annual salary: $126,439
High earners: $177,500
Even though private equity positions are often found at smaller, specialized organizations, many investment banks have private equity divisions. Bankers in this field raise money for businesses and non-profit organizations while keeping a percentage of whatever profits they can make from the transactions. Private equity specialists frequently have experience at investment banks in addition to having strong academic qualifications.
Median annual salary: $96,243
High earners: $121,226
In conclusion, professionals in accounting and finance are in great demand across almost every industry. Find what you are good at, you may work in a company’s finance division, the banking or financial services industry, investment banking, or the financial markets, whatever your choice you are supported by the demand that’s driving it.