Data drives the financial decisions that individuals and organizations make all around the world. The accuracy of these numbers, and the professionals who understand them, can be critical assets to any business. With that being said, a degree in finance can open the door to a variety of engaging and lucrative career options.
If you are at all interested in data and the financial markets, bonds, stocks, and other investment options, then pursuing an education in finance might be something worth considering. If you are still on the fence and want to know more about the possible career options that can be obtained with a degree in finance, here are 10 common careers and their average salaries (provided by Salary.com and Indeed.com) that finance graduates often pursue with their degrees.
1. Credit Manager
A credit manager is often times in charge of the whole credit granting process. They set the terms and are also in charge of recovering the credit when the due date arrives. Additionally, a credit manager is in charge of ensuring compliance with credit policies.
2. Trust Administrator
A trust administrator is in charge of the assets within a trust belonging to a beneficiary. Assessing the value of a trust’s assets is one of the first duties of a newly appointed trust administrator. Additionally, they are in charge of paying the associated federal and state taxes related to the trust.
3. Insurance Administrator
An insurance administrator makes insurance recommendations for their company based on the available information. They work to ensure their company has the proper insurance coverage. Additionally, an insurance administrator can also work for a third-party organization that strictly takes care of insurance administrative functions.
4. Director of Risk Management
Overseeing risk management within a company is the overall goal of a director of risk management, as they develop and create strategies to reduce risk. Creating educational material for the rest of the company can be a common way to help everyone understand the things that can expose a company to risk, such as lawsuits and insurance claims.
5. Financial Analyst
As one of the most popular career paths in finance, a financial analyst is someone who performs financial research and analysis in order to provide strategic business recommendations for an organization. They tend to work in a wide variety of industries.
6. Finance Manager
A financial manager is similar to a financial analyst, but is a more senior level position that can be responsible for the overall financial direction and health of an organization, where an analyst often assists a manager in financial strategies. They can also work in a wide variety of industries.
7. Investor Relations Associate
An investor relations associate helps in managing relationships with their organization’s investors and stakeholders. Creating and fostering streamlined channels of communication is a top priority, as an investor relations associate can be in charge of handling phone calls/emails, attending client meetings, and creating reporting documents.
8. Budget Analyst
If you see yourself as someone who is proficient with handling numbers and budgets, then consider pursuing a career as a budget analyst. As the name suggests, budget analysts help organizations manage their finances by sustaining a balanced budget. Running regular reports and communicating with fellow stakeholders is common, as funding needs and assessing budget decisions are things that will continuously needed to be decided on.
9. Credit Analyst
A credit analyst can determine the credit worthiness of current customers and potential customers by reviewing a borrower’s financial and credit history. These customers are often times securities, individuals, or organizations.
10. Commercial Real Estate Agent
Similar to your local real estate agent who helps individuals and families buy homes, a commercial real estate agent focuses on properties that will be used for business purposes. Buying, selling, or leasing are all financial needs that commercial real estate agents can help their clients with.