Currently, there are over 329,000 jobs available in Finance in the US, according to Glassdoor. The retail industry is a significant contributor to the global economy, with the market size projected to reach $31.88 trillion by 2023. As a result, there is a high demand for finance professionals in the retail sector to manage finances, analyze trends, and drive growth strategies.
What is Finance? Finance refers to the management of money and investments. It encompasses banking, investing, lending, and insurance. The finance industry plays a crucial role in the global economy, affecting businesses and individuals alike.
Overview of the Finance Job Market
The Finance job market is constantly evolving and competitive, with job opportunities ranging from entry-level positions to high-level executive roles. Over the years, there has been an increasing demand for skilled professionals. The demand is due to the increasing complexity of financial products and the need for expertise in risk management and regulatory compliance.
In general, industries such as Banking, Investment, Insurance, and Accounting are the primary employers of Finance professionals. There are also career path opportunities in government agencies, non-profits, and consulting firms. High-paying positions are however competitive, and candidates may need to obtain advanced certifications to stand out in the job market.
A Private Equity Associate conducts due diligence, evaluates potential investment opportunities, and manages portfolio of companies. This is the best paying job in Finance. Strong analytical skills, financial modeling skills, and the ability to work in a team are important for this role.
Private Equity Associates need a Bachelor’s Degree in Finance, Accounting, Economics, or a related field. The job outlook is positive with growth rate of 4% from 2021 to 2031, according to the BLS.
Financial Manager
Average Annual Salary: $146,830
Available Jobs: 679,600
A Financial Manager, like the name implies, is in charge of the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies to achieve the organization’s financial goals.
Financial Managers must possess a Bachelor’s or Master’s Degree in Finance, Accounting, Economics, or Business Administration Skills. Strong analytical skills, leadership, and decision-making skills are a must-have too.
The job outlook is positive with growth rate of 15% from 2021-2031, according to the BLS. This will create approximately 108,100 new jobs in the US.
Investment Banker
Average Annual Salary: $97,160
Available Jobs: Not specified
An Investment Banker advises clients on investment opportunities, helps companies raise capital, and provides financial expertise on mergers and acquisitions.
Analytical skills, communication skills, problem-solving skills, and sales skills are some of the skills an Investment Banker must have. A Bachelor’s Degree in Finance, Business, Economics, or a related field is the minimum educational requirement.
The job growth rate is positive, as the BLS projects a 7% growth from 2021 to 2031.
Financial Analyst
Average Annual Salary: $95,570
Available Jobs: 373,800
A Financial Analyst provides guidance to businesses and individuals regarding investment decisions. They analyze financial data to determine trends and make recommendations.
Financial Analysts must possess a Bachelor’s Degree in Finance or a related field. Strong analytical skills, attention to detail, and excellent communication skills are also required. The job growth rate is positive, as the BLS projects a 9% increase from 2021 to 2031. It will produce about 31,900 new job opportunities in the US.
A Personal Financial Advisor provides financial advice to individuals and families. They help clients set financial goals, develop investment strategies, and provide advice on insurance, taxes, and retirement planning.
Strong analytical skills, excellent communication skills, and the ability to build trust with clients are skills they should possess. A Bachelor’s, Master’s Degree and/or a professional certification in Finance, Accounting, Economics, or a related field are the educational requirements.
The job outlook is positive with 5% growth rate from 2021-2031, according to the BLS. This will create over 12,600 new job opportunities in the US.
Financial Examiner
Average Annual Salary: $83,540
Available Jobs: 72,100
A Financial Examiner ensures compliance with laws governing financial institutions and transactions. They review balance sheets, evaluate risk levels, and assess the accuracy of financial records.
Analytical skills, communication skills, critical-thinking skills, attention to detail, math skills are important skills for a Financial Examiner to possess. A Bachelor’s Degree in Finance, Accounting, Economics, or a related field is the minimum educational requirement.
The job growth rate is positive, as the BLS projects a 7% increase from 2021-2031. It will produce about 5,047 new job opportunities in the US.
Insurance Underwriter
Average Annual Salary: $76,880
Available Jobs: 128,300
An Insurance Underwriter evaluates and analyzes insurance applications to determine coverage amounts and premiums. Analytical skills, communication skills, critical-thinking skills, attention to detail, and math skills are important for Insurance Underwriters to have.
A Bachelor’s Degree in Finance, Accounting, Economics, or a related field is the minimum educational requirement.
The job outlook is negative, as the BLS expects a 3% decline from 2021-2031. This will result in a loss of 3,800 jobs in the US.
A Credit Analyst analyzes financial data to assess creditworthiness, evaluate credit applications, and determine loan terms. They must have good analytical skills, attention to detail, communication skills, and be proactive. The minimum educational requirement for Credit Analysts is a Bachelor’s Degree in Finance, Accounting, Economics, or a related field.
The job outlook is positive with growth rate of 3% from 2021 to 2031, according to the BLS. This will create over 2,157 new job opportunities across the US.
Accountant
Average Annual Salary: $73,560
Available Jobs: 1,436,100
An Accountant prepares and examines financial records, and ensures their accuracy. Attention to detail, strong analytical skills, and proficiency in accounting software are some of the skills an Accountant needs.
A Bachelor’s or Master’s Degree in Accounting or a related field is the educational requirement for an Accountant.
The job growth rate is positive, as the BLS projects a 10% increase from 2021-2031. It will produce about 142,400 new job opportunities in the US.
A Loan Officer works for banks, credit unions, and mortgage companies, evaluating, or approving loan applications for people and businesses. Strong communication, customer service, and analytical skills are important for Loan Officers to have.
The minimum educational requirement for a Loan Officer is a High School Diploma or equivalent; though a Bachelor’s Degree is necessary.
The job growth rate is positive, as the BLS projects a 3% increase from 2021-2031. It will produce about 9,900 new job opportunities in the US.
Other Jobs Available in Finance
Actuary ($111,030)
Risk Manager ($100,560)
Fund Manager ($95,380)
Tax Accountant ($79,520)
Treasury Analyst ($71,950)
5 Most Common and Available Entry-Level Finance Jobs
A Loan Processor verifies and reviews loan applications, ensuring that they meet the necessary requirements for approval. They work closely with loan officers and underwriters to ensure that all documentation is accurate and complete.
Loan Processors must have strong attention to detail, good communication skills, and be familiar with relevant software. The minimum educational requirement is a High School Diploma or an Associate’s Degree.
The job growth rate is negative, as the BLS projects a 5% decline from 2021 to 2031. It will result in a loss of about 6,460 job opportunities across the US.
Credit Counselor
Average Annual Salary: $49,130
Available Jobs: 37,800
A Credit Counselor advises clients on financial matters, creates debt management plans, and negotiates with creditors. Some of the skills they should possess include communication skills, problem-solving skills, and empathy. A Bachelor’s Degree in Finance, Accounting, Economics, or a related field is the minimum educational requirement.
The job outlook is positive with growth rate of 3% from 2021 to 2031, according to the BLS. This will produce about 1,200 new job opportunities in the US.
Accounting Clerk
Average Annual Salary: $42,410
Available Jobs: 1,443,300
An Accounting Clerk records and maintains financial transactions for businesses and organizations, preparing and processing invoices, accounts payable and receivable. Strong attention to detail, good communication skills, and familiarity with accounting software are necessary for Accounting Clerks to possess.
A High School Diploma or equivalent is the minimum educational requirement, though some employers may prefer candidates with an Associate’s Degree. The job outlook is negative, as the BLS projects a 4% decline from 2021 to 2031. This will result in a loss of about 57,732 job opportunities in the US.
Financial Services Representative
Average Annual Salary: $38,380
Available Jobs: 495,800
A Financial Services Representative works in banks and other financial institutions, providing customer service and support for various financial products and services. Strong communication and customer service skills are necessary for a Financial Services Representative to have. The minimum educational requirement is a High School Diploma or equivalent, and/or an Associate’s or Bachelor’s Degree.
The job outlook is positive with growth rate of 5% from 2021 to 2031, according to the BLS. This will create about 24,970 new job opportunities across the US.
A Bank Teller conducts financial transactions, provides customer service, and maintains financial records. They need impeccable customer service skills, attention to detail, and math skills. A Bachelor’s Degree in Banking and Finance, Accounting or a related field is also required.
The job growth rate is negative, as the BLS projects a 7% decline from 2021 to 2031. It will result in a loss of about 32,500 job opportunities across the US.
What is the Job Description of a Finance Professional?
A Finance professional is someone who plays a critical role in managing the financial health of individuals, businesses, and organizations. They help ensure financial stability and growth by managing assets, analyzing financial data, and making strategic financial decisions.
The job of a Finance Professional depends on the position and industry. However, some common responsibilities of a Finance professional include:
Analyzing financial data and creating financial reports.
Conducting financial research and forecasting financial trends.
Creating and implementing financial strategies and plans.
Advising clients or organizations on financial matters.
Managing financial transactions and investments.
Evaluating and managing financial risk.
Ensuring compliance with financial regulations and laws.
Getting a job in finance can be competitive, but there are steps you can take to improve your chances.
5 key steps to getting a job in finance
Determine an area of specialization
Finance is a broad field, and there are different areas you can specialize in, like investment banking, accounting, financial analysis, etc. Determine which area you are most interested in and research the qualifications and skills required for that specific area.
Get the relevant education
Most Finance jobs require at least a Bachelor’s Degree in Finance, Accounting, Economics, etc. After determining your area of interest, pursue a degree in it. In fact, getting a master’s degree in Finance or Business Administration can further improve your qualifications.
Consider certifications
Some Finance jobs require specific additional certifications, like the Certified Public Accountant (CPA), Chartered Financial Analyst (CFA), etc. Consider obtaining these certifications to make yourself more competitive in the job market.
Use recruiters
Third-party recruiters can help you find job opportunities that may not be publicly accessible. They will also provide you with guidance throughout the job search process. Research recruiters who specialize in finance jobs and consider reaching out to them for assistance.
Gain practical experience
Many finance jobs require practical experience, so consider internships or entry-level jobs in finance to gain experience and knowledge of the industry. The skills you need to succeed in your chosen role can only be developed on-the-job, through coursework, internships, etc.
How to get an entry-level job in finance
Develop your financial knowledge
Start by learning the basics of finance and accounting. You can take courses online or at a local college, read finance-related books and articles, or attend seminars and workshops.
Network
Attend career fairs, join professional organizations, and connect with people in the finance industry through social media platforms. This can help you learn about job opportunities that may not be publicly announced. You’ll also be able to connect with professionals who can offer advice and support.
Build relevant skills
Entry-level finance jobs require specific skills, such as proficiency in Microsoft Excel, attention to detail, and strong analytical and problem-solving skills. Look for ways to develop and showcase these skills, such as through internships, volunteer work, or personal projects.
Apply for opportunities
Don’t miss out on opportunities to enter into the financial industry, no matter how little they might seem. Apply for internship opportunities and entry-level job positions. They’re the best ways to get started.
Target companies hiring entry-level candidates
Some companies have specific programs or initiatives for hiring and training entry-level candidates in finance. Look for job postings that explicitly state they are seeking entry-level candidates.
Additional tips for finding available jobs in finance
Use online job search engines and finance-specific job boards like Indeed, Glassdoor, and eFinancialCareers.
Check out career pages on company websites to see what job opportunities they have available.
Set up job alerts to receive notifications when new finance jobs are posted.
Join professional associations or groups in the finance industry to stay up-to-date on trends and job opportunities.
Build your online presence through social media and professional networking sites like LinkedIn.
Look for opportunities to gain additional certifications or training that can set you apart from other job applicants.
Polish your resume and cover letter to highlight your relevant experience and skills.
Utilize your college or university’s career services center for job search resources and guidance.
Work with a staffing agency or headhunter that specializes in finance job placements.
Consider taking on freelance or contract work in the finance industry to build your experience and network.
What are the Educational Requirements and Training for Finance Jobs?
Educational Requirements
A High School Diploma or equivalent.
A Bachelor’s Degree in:
Finance
Accounting
Economics
Business administration
Any other related field.
Some higher-level finance jobs may require a Master’s Degree in Finance or a related field.
Training
On-the-job training is common for many finance jobs, especially for entry-level positions. Some finance firms may have formal training programs for new hires.
Certifications
Many finance jobs require a professional certification, such as:
Certified Public Accountant (CPA).
Certified Financial Planner (CFP).
Chartered Financial Analyst (CFA).
Certified Treasury Professional (CTP).
Some finance jobs may also require industry-specific certifications, such as:
Series 7 license for financial advisors
Certified Internal Auditor (CIA) certification for internal auditors.
Where Do I Find Finance Jobs?
7 online platforms tailored to finding finance jobs
CareerBuilder
CareerBuilder is a job search platform that allows you to search for finance jobs based on job title, location, company, and salary.
eFinancialCareers
eFinancialCareers is a job search platform that specifically caters to the finance industry, providing job listings for finance-related jobs globally.
The Ladders
The Ladders is a job search platform that offers high-end finance jobs such as C-suite and senior management positions.
Wall Street Oasis
Wall Street Oasis is a community website that provides finance job listings, career advice, and industry insights.
FinancialJobsWeb
FinancialJobsWeb is a job search platform that provides job listings for finance-related jobs in the United States.
SimplyHired
SimplyHired is a job search platform that provides job listings for finance-related jobs globally.
ZipRecruiter
ZipRecruiter is a job search platform that provides job listings for finance-related jobs globally.
What are the Skills Needed to Get a Job in Finance?
To get a job in finance, there are several skills that are essential.
5 essential skills to land a job in finance
Analytical skills
Finance professionals need to have strong analytical skills to understand complex financial data, identify trends, and develop effective financial strategies.
Communication skills
Finance professionals need to be able to communicate financial information clearly and effectively to both financial and non-financial stakeholders. This includes presenting financial reports, making recommendations, and explaining financial data to others.
Attention to detail
Finance professionals need to have a strong attention to detail to ensure accuracy when working with financial data. Small errors can have significant consequences, so it’s crucial to be meticulous when working with numbers.
Technical skills
Finance professionals need to have a strong understanding of financial software, spreadsheets, and databases. This includes knowledge of financial analysis software, accounting software, and financial modeling tools. Proficiency in Excel, and other data analysis tools may also be required.
Time management skills
Finance professionals often work on multiple projects simultaneously and need to be able to manage their time effectively to meet deadlines and complete tasks on time.
Gaining practical experience through internships, volunteering, or freelance financial projects can help you build these skills and stand out to potential employers.
What are the Factors Affecting the Availability of Jobs in Finance?
There are several factors that can affect the availability of jobs in finance.
5 critical factors affecting the availability of jobs in the finance sector
Changes in economic conditions
The economy is closely tied to the financial health of businesses and individuals. Any change, whether positive or negative, can have a major impact on the finance industry.
Technological advancements
The finance industry has undergone significant changes in recent years due to advancements in technology. While this has led to increased efficiency in some areas, it has also resulted in job losses in others. As new technologies continue to be developed, certain roles within finance may become obsolete.
Regulatory changes
The finance industry is heavily regulated, and changes in regulations can have a significant impact on the availability of jobs. For example, new regulations may require financial institutions to increase compliance staff, while reducing the need for other types of roles.
Globalization
The finance industry is increasingly global, with many firms operating in multiple countries. This can create both opportunities and challenges for job seekers, as some roles may require international experience or language skills.
Industry consolidation
The consolidation of companies in the finance industry, such as mergers and acquisitions, can decrease the number of available jobs. Newly formed entities may eliminate redundant positions.
FAQs on How Many Jobs are Available in Finance
What is the most common job in finance?
The most common job in finance is that of an Accountant. This is because Accountants are needed in virtually every work setting, from schools to hospitals and offices.
What roles are available in finance?
Some of the roles available in finance include Accountant, Financial Analyst, Financial Advisor, Loan Officer, Bookkeeper, Investment Banker, etc.
Are there a lot of jobs in finance?
Yes, there are many jobs in finance, with a variety of roles and positions available at different levels of experience and education. Currently, there are over 329,000 jobs available in Finance in the US, according to Glassdoor.
Are finance jobs easy?
Finance jobs can be challenging and complex, requiring a strong analytical mindset and attention to detail.
What is the hardest finance job to get?
Some of the hardest finance jobs to get include investment banking, hedge fund management, private equity, and venture capital. These jobs are highly competitive and may require advanced degrees, extensive experience, and specialized certifications.
What is the difference between accounting and finance?
Accounting is focused on the recording, reporting, and analysis of financial transactions, while finance deals with the management of money and assets.
Conclusion: How Many Jobs are Available in Finance?
According to Glassdoor, there are currently over 329,000 jobs available in Finance in the US. Finance is a vast industry with job opportunities ranging from entry-level positions to executive roles.
The industry offers competitive salaries and benefits, and the demand for finance professionals is projected to grow in the coming years. With the right education, training, skills, and experience, anyone can land a rewarding job in finance.
