Five High Paying Jobs in Finance and Banking
Working with money will make you money is not a cliche, at least not when you are hired for the following jobs
The banking and finance industry continues to be among the most competitive in terms of finding a job, as it’s almost entirely unheard of to build a successful financial career without starting from the bottom and gradually work your way up. Still, the desks (and Kalibrr accounts) of top executives continue to be filled with applications from aspiring financial professionals, as a lot can indeed be earned working in the industry.
While being comfortable working with money, having constantly expanding financial expertise, and possessing the needed licenses or certifications is significant when getting started and continuing to succeed in banking and finance, it’s also important to understand that not all jobs in the industry are created equal. Like in almost all others, some positions simply earn more than others in banking and finance, and knowing which these are can help you to better plan for and proceed with your financial career.
Finance manager positions currently top the highest paying jobs in banking and finance, with those new to the position having the opportunity to earn as much as over Php50,000 a month, while those with an extensive amount of experience and expertise can earn as much over Php84,000 per month.
The reason for such a high earning power is that as a Finance Manager, you are relied upon to provide sound strategic analysis, financial guidance, and support regarding investments, savings, pensions or insurance products to clients, colleagues, and even entire companies.
It does not end there. In addition to helping clientele arrive at sound business decisions, another responsibility of a Finance Manager is the development of financial management mechanisms that help minimize financial risk.
Not surprisingly, the next job currently considered among the highest paying in banking and finance is again managerial in nature.
An integral part of almost any company’s operations, Accounting Managers are typically tasked with overseeing the daily operations of their accounting department, analyzing accounting data, producing financial reports, and improving accounting processes.
A common requirement for the job is being a licensed as a Certified Public Accountant (CPA), which in itself commands you an average salary of over Php44,000 per month as an Account Manager at the entry-level. However with more experience, this can become around Php56,000 to Php61,000 per month, depending of course on your job level, and also varies between companies.
Financial analysts are responsible for financial planning, analysis, and projection for companies, leveraging backgrounds in accounting and compliance to analyze financial data and predict future trends to drive process and policy improvements.
Another job that requires having an accounting license and extensive financial expertise, Financial Analysts continues to be very much in demand, with even professionals comparatively new in the field able to earn as much as over Php25,000 per month.
The average salaries only increases from there, where being a more experienced and more knowledgeable Financial Analyst can have you earning an average of over Php35,000 per month at the supervisory level, to as much as Php60,000 per month at the managerial level.
A job which involves the systematic and independent examination of books, accounts, statutory records, documents and vouchers of an organization, Auditors themselves can be deemed a business, with companies established solely to offering auditing services.
Along with being a licensed CPA, Auditors must also be certified by the Commission on Audit. As a result of strict requirements on top of being a rather methodical profession, Auditor positions are not the easiest for employers to fill, and a modest average monthly salary of Php19,000 per month not being helpful.
However, if you are working as an Auditor, keep in mind that your pay can increase rapidly as you work, as those with only a handful of years of experience earning Php28,000 per month, and those at the managerial level earning over double at Php57,500 per month.
Accountancy is another job that is a business in itself, with firms established just to offer the service. As a licensed CPA, one can opt to work as part of such firms, or be employed as a company’s internal Accountant, or work as independent contractor.
Accountants fresh off of passing the licensure exam can earn an average of Php20,000 per month at the onset of their career. Don’t be discouraged if you are among them however, as gaining experience as a CPA means higher salaries down the line, and even opens the door to a career in the other jobs mentioned on this list.
At present, Accountants with about five years experience already earn an average monthly salary of over Php30,000 per month, while those who have worked their way to the mid or managerial level presently earn an average salary of over Php41,000 per month.
These are but the jobs presently paying the most in the banking and finance, with several others that can allow you to earn significantly, be it now or later on as you spend more time in the industry. Find more of the ones you can apply for now at Kalibrr.
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