Business finance salaries: What’s the Average Salary for a Finance Major?
What’s the Average Salary for a Finance Major?
What is the average salary that a finance major can expect? At first glance, it doesn’t appear that a degree in finance is the ticket to a career with stellar pay. The average recipient of a bachelor’s degree in finance takes in $101,038 a year. When you consider all bachelor’s degree recipients, the median (half earn less, half earn more) is just slightly lower: $93,664.
Dig a little deeper, however, and it becomes apparent just how many finance-related careers pay well above average. Here’s a look at how you can expect to fare in some of the field’s more common occupations.
Key Takeaways
- Graduates with a finance degree can work for a wide range of employers, from Wall Street banks and insurance companies to financial-planning firms.
- Some finance graduates go on to pursue a CPA license, although it will likely require additional accounting coursework at the undergraduate or graduate level.
- Financial analysts are among the better-paid professionals in the field.
- The types of jobs finance majors can choose from vary greatly, including investing banking, equity research, financial planning, budget analysis, and Treasury analysis.
Financial Planner
Some people feel less comfortable making financial decisions, such as buying life insurance and investing for retirement, than others do. That’s why there’s considerable demand for financial planners, who can help these individuals strategize.
Financial planners often work for insurance companies or brokerage houses, often as representatives who make commissions based on the products they sell. An independent advisory representative (IAR), on the other hand, works for fee-based (i.e. non-commissioned) advisory firms or sets up their own planning business. Often, IARs provide a broader range of services, such as budgeting and tax guidance, in addition to offering investment advice.
A personal financial advisor’s median annual compensation in 2021 (the latest data available) was $94,170, according to the U.
S. Bureau of Labor Statistics (BLS). What’s more, employment within the field is expected to increase by 5% between 2020 and 2030.
Corporate Finance Professional
Major corporations often have entire departments tasked with helping the company raise and manage the capital that fuels their operations. Finance majors can pursue a number of different paths in corporate finance, most of which tend to pay very respectably.
Those who work on the treasury team, for example, help the company manage its cash, develop a strategy for short-term investments, and analyze foreign exchange (forex) transactions. A job as an entry-level treasury analyst pays a median of $60,000 a year; however, corporate treasurers, who have more experience, make a median salary of $199,750.
Meanwhile, the median pay for budget analysts—the professionals who examine how the organization spends money—is a solid $54,750.
Wealth Manager
People who work in wealth management roles help high-net-worth individuals manage their assets, with an eye toward maximizing returns and mitigating financial risks.
Junior-level associates may find themselves handling an array of tasks, including helping to research different investment options and preparing presentations. Later in their career, however, they may take on management roles and shoulder greater responsibility for investment strategies.
To work in the financial sector, an individual does not need a finance degree, though it helps. Individuals with various majors work in finance and have high-paying and well-respected positions.
Individuals who develop this expertise typically make a good living, with the average wealth management professional enjoying an average base salary of $85,348, according to the job-search website Indeed.
Financial Analyst
While the responsibilities of financial analysts can vary based on where they work, their basic role is to help large organizations make prudent investment decisions. They may examine economic trends, meet with a company’s management team, and pore over financial statements in order to develop an appropriate investment plan.
Typically, they use that information to develop financial models that help predict the potential outcome of different strategies.
The work of financial analysts breaks down into two basic categories: Buy-side analysts often work on behalf of insurance companies, foundations, and other institutional investors, providing advice to the money managers responsible for those clients.
Sell-side analysts, on the other hand, are employed by brokerage firms and provide their clients with recommendations on whether to buy or sell certain securities.
The median pay for analysts in 2021 was $81,410 per year, according to the BLS.
Investment Banker
Major investment banks such as J.P. Morgan and Goldman Sachs need people who can advise companies on how to raise capital as well as how to go about acquiring or merging with other businesses.
It’s a fast-paced career that can involve some very long hours—especially at top Wall Street firms—but it certainly pays well for those who are successful.
Investment banking is one of the more financially rewarding careers, but those in entry-level jobs can work more than 80 hours a week at bigger firms.
According to data from Wall Street Oasis, analysts, who are on the lowest rung, start at anywhere from $100,000 to $120,000. Once you become an associate, you’ll likely bring in between $150,000 and $200,000 a year (and those who make it to “vice president” earn even more).
Management Consultant
The role of a management analyst—sometimes known as a management consultant—is another well-paid career you can seek out with a finance degree. According to BLS data, the median pay in 2021 was $93,000.
Management consultants help businesses identify ways to cut costs and boost revenue. To do that, they have to possess strong financial analysis skills as well as an understanding of the competitive landscape in which a firm operates.
They may, for example, help a company focus its resources on markets where the firm can achieve greater profitability.
Accountant
The most obvious path to becoming an accountant is to get a bachelor’s degree in—you guessed it—accounting. But an undergraduate finance degree lets you cast a wider net when it’s time to get a job. And with some extra coursework, you can still sit for the CPA exam, an accreditation that leads to higher pay than non-CPA accounting roles.
Most states require students to obtain 150 semester hours of coursework in order to obtain a CPA license. Strictly speaking, you don’t need a master’s degree to take the exam. But if you’re a finance major, getting there may require a graduate degree in accounting or a Master of Business Administration (MBA) with a concentration in accounting.
According to Payscale, the average annual salary for CPAs is $90,000.
Loan Officer
Before lending money to businesses or individuals, banks need to have a reasonable expectation that the borrower will pay them back. One of the main responsibilities of loan officers is to assess that risk.
They’ll often talk to loan applicants and evaluate their borrowing history before making a recommendation to the bank or mortgage company for which they work.
According to the BLS, the median pay for loan officers in 2021 was $63,380 per year. It appears that the job market for these professionals will remain fairly steady over the next few years, with the BLS estimating just 4,300 new loan officer jobs added between 2020 and 2030.
What Careers Can You Choose With a Finance Degree?
There are many careers those with finance degrees can pursue. Careers suitable for finance degrees include insurance agents, financial analysts, investment banking, commercial banking, real estate agent, accountant, risk management, and equity research.
Can You Make a Lot of Money With a Finance Major?
Yes, you can make a lot of money with a finance major. The ability to make a lot of money with a finance major comes down to the job an individual chooses. There are a variety of jobs in finance and not all pay equally.
Investment banking is one of the highest paying jobs in finance, with recent graduates making between $100,000 to $120,000. As an investment banking career progresses, so does the salary.
Is Finance a Hard Major?
Finance is a somewhat difficult major. It is much harder than certain liberal arts majors, such as history and philosophy; however, it is not as hard as the “STEM” majors: science, technology, engineering, and math. The difficulty with finance comes down to its concepts that students would not have experienced before in their lives, the financial lingo in the field, and the concentration of math in the subject.
The Bottom Line
While finance degrees overall may not pay more than other educational tracks, there are plenty of finance-related jobs that are very lucrative. Some of the careers that pay the most, such as investment banking, involve very long hours, so anyone concerned about work-life balance might want to look elsewhere.
Finance Salary and Job Outlook
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Exact salaries depend on the financial job you choose and on factors such as your education and experience.
The U.S. Bureau of Labor Statistics (BLS) reports that median salaries in this field range from between $77,250 (auditors and accountants) to more than $131,710 (financial managers) annually.
In this Article
- Salaries for Common Financial Jobs
- What Factors Would Affect Your Salary?
Those numbers are likely to grow over the next several years. The 2021 Association for Financial Professionals (AFP) Compensation Survey reports that financial professionals saw an average salary growth of 2.9% in 2020.
“Many people would be surprised to find out how well careers in financial services pay,” says Greg Wilson, a chartered financial analyst with more than two decades of experience in the financial industry.
Salaries for Common Finance Jobs
Finance is a large career field with many job options. One of the biggest factors in your salary will be the specific job you pursue and the career path (such as management or teaching) you take.
Salaries for some popular finance jobs are:
Source: U.S. Bureau of Labor Statistics’ 2021 Occupational Outlook Handbook
What Factors Affect Your Salary?
There are multiple factors that can influence your salary as a financial professional. No matter what your specific job title is, factors such as your education, experience, certifications, and even industries you work can impact your paycheck.
“In my over 22 years of experience in financial services, there are some core factors that impact salary,” says Wilson. “This includes being strong in financial skills, going after less traditional financial roles, and taking on risk and compliance positions.”
Geography
The 2021 AFP Compensation Survey reports that on average, financial professionals earn the highest salaries on the west coast and lowest salaries in the midwest. However, your state and even the city you live in can make a big difference in your take-home pay. Keep in mind that many areas with higher average salaries are also areas with higher overall costs of living.
That means that although your paycheck will be larger, it’s likely you’ll pay more for housing, utilities, food, transportation, and other essentials. It’s a good idea to compare salaries against numbers such as average rent to get an idea of how far your money will go.
Below are finance career salaries by highest paying metropolitan area.
Accountants
| Metro Area | Median Annual Salary |
|---|---|
| San Jose-Sunnyvale-Santa Clara, CA | $100,400 |
| New York-Newark-Jersey City, NY-NJ-PA | $98,920 |
| San Francisco-Oakland-Hayward, CA | $98,300 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | $95,880 |
| Napa, CA | $88,850 |
Budget Analysts
| Metro Area | Median Annual Salary |
|---|---|
| New York-Newark-Jersey City, NY-NJ-PA | $130,760 |
| Bridgeport-Stamford-Norwalk, CT | $119,660 |
| Manchester, NH | $102,310 |
| Portsmouth, NH-ME | $84,550 |
| Memphis, TN-MS-AR | $81,120 |
Financial Analysts
Financial Managers
| Metro Area | Median Annual Salary |
|---|---|
| New York-Newark-Jersey City, NY-NJ-PA | $206,300 |
| San Jose-Sunnyvale-Santa Clara, CA | $192,580 |
| Greeley, CO | $168,490 |
| Bridgeport-Stamford-Norwalk, CT | $168,330 |
| San Francisco-Oakland-Hayward, CA | $167,450 |
Personal Financial Advisors
| Metro Area | Median Annual Salary |
|---|---|
| East Stroudsburg, PA | $162,150 |
| San Francisco-Oakland-Hayward, CA | $150,580 |
| Barnstable Town, MA | $140,270 |
| Portland-South Portland, ME | $134,780 |
| New York-Newark-Jersey City, NY-NJ-PA | $130,110 |
Degree Level
Advancing your degree will help you increase your salary in just about any career field and financial jobs are no different.
In fact, the AFP compensation survey data shows that financial professionals with a Masters in Business Administration (MBA) earn an average of between 10 and 15% more than professionals with a bachelor’s or associate degree. Those interested in a more specialized focus on finance might consider a Master in Finance. Factors such as your experience, industry, and region will still apply, but going for an advanced degree is always a great way to potentially boost your salary.
Experience
Experience can take you further up the financial career ladder and help you increase your paycheck. With on-the-job experience, you might see opportunities for raises, bonuses, or the ability to take on higher-paying roles. For instance, with a few years of experience, you might be able to transition from a financial analyst role to a financial manager role. This could significantly increase your salary and help your career grow.
Certification
There are multiple certifications available to financial professionals.
Some of these certifications can influence your career and increase your salary. The AFP Compensation Survey shows that popular certifications such as Certified Public Accountant (CPA), Certified Treasury Professional (CTP), or the Certified Corporate Financial Planning and Analysis Professional (FPAC) may help increase your salary by 6-10%.
Financial services certifications such as Certified Financial Planner (CPF) and Chartered Financial Analyst (CFA) can also be potential salary boosters, says Wilson: “I have a CFA. That certification has three levels, and each time I took an exam to earn a higher level, I received a major pay boost.”
Industry
Financial professionals are in demand in a wide range of industries. Any business with a budget needs a skilled professional to manage that budget. That means everywhere from tiny non-profit organizations to large industrial centers can employ financial professionals. Some industries have higher average salaries than others.
For instance, the AFP Compensation Survey reports that financial professionals employed by energy and utility providers earn higher average salaries than financial professionals who work for government or non-profit organizations. Keep in mind that across all industries, factors such as your education, experience, certification, and job title will still make a big impact on your salary.
What Do Finance Jobs Pay? 20 Best Paying Careers in 2022
What is a Finance Major?
A finance major specializes in financial planning and money management. They learn about investments, banking, accounting, and insurance. With a finance degree, you can land various high-paying jobs in the business world.
Who Needs a Degree in Finance?
A finance major is a perfect degree for those who want to work in business or financial services. But what if you’re not sure that you want to commit to a four-year degree? Or maybe you are interested in finance but don’t want to go through the rigors of a full-time graduate program.
Don’t worry — plenty of best paying jobs in finance do not require a master’s degree. As mentioned earlier, many of the top positions in the financial industry only require a bachelor’s degree in a related field.
Valuable Skills Needed for the Best Paying Jobs in Finance
Every career requires skilled personnel to handle the various responsibilities and tasks associated with it. For finance majors, some of the essential skills to develop include:
- Mathematics: A solid foundation in mathematics is essential for success in any field of finance. Most financial calculations focus on mathematical principles, so a thorough understanding of these concepts is critical.
- Analytical Ability: Financial analysis is crucial for many finance-related jobs. Examining data and extracting meaningful information is essential in this field.
- Critical Thinking: Making sound decisions under pressure is crucial for anyone working in finance.
Critical thinking skills help when evaluating financial proposals or investment opportunities. - Communication Skills: Finance jobs often require interacting with people from a wide range of backgrounds. Strong communication skills are essential for conveying complex information to others.
- Teamwork: Many finance-related jobs require working with others to achieve common goals. Developing teamwork skills will help you be more successful in these environments.
Critical thinking skills help when evaluating financial proposals or investment opportunities.Finance majors who develop these skills will be well-prepared for a successful career in finance.
20 Best Paying Jobs in Finance
Finance majors can pursue various roles and opportunities in the financial field. Given a choice between many positions, why not reach for those that pay the most? The 20 best paying jobs in finance listed below earned top ranking based on their median annual salary.
1. Financial Manager
A financial manager oversees and directs an organization’s economic activities.
They create financial reports, manage budgets, and forecast future trends.
Salary
In 2020, the median annual take-home pay of financial executives came in at $134,180. The lowest 10% made less than $70,830, while the top 10% received more than $208,000. The high end of this salary range places this career in the top spot on our list of the best paying jobs in finance.
Note the difference in pay between the top and bottom earners. This large discrepancy depends on factors such as:
- Years of experience: Financial managers with more experience typically earn higher salaries.
- Company size: Larger companies tend to pay their employees more than smaller companies.
- Location: Financial managers in major metropolitan areas usually make more than those in rural areas.
Qualifications Needed to Become a Financial Manager
A bachelor’s degree in finance or a related field is the most common qualification for financial managers.
Many employers prefer candidates with a master’s degree or certified public accountants (CPAs).
Growth Potential for Financial Managers
Financial managers will be in high demand in the coming years. Their employment should rise 17% from 2020 to 2030, considerably faster than the average for all occupations.
A projected 64,200 financial manager jobs will be available each year throughout the decade. Many of these openings arise as employees transition to different careers or retirement.
2. Economists
Economists study the economy looking for trends in finances. They can work in various fields, from banking to the government. Economists need to be skilled in math and statistics to be successful.
Salary
In May 2020, the median yearly income for economists was $108,350. The lowest 10% earned less than $59,220, while the top 10% made more than $198,230.
Qualifications Needed to Become an Economist
Most economist jobs require a master’s degree in economics.
Recently, however, more employers have accepted just a bachelor’s degree. Many economics programs offer a joint degree in business or public policy for a broader education.
Growth Potential for Economists
Available positions for economists should increase by 13% from 2020 to 2030. This is significantly faster than the average for all other careers.
Every year, on average, about 1,600 jobs open up for economists. Many of these available positions will replace workers who move into different careers or retirees.
3. Chief Financial Officer
As a chief financial officer (CFO), you oversee all of a company’s financial operations. This includes budgeting, accounting, and financial reporting. To qualify for this position, you need a strong understanding of financial analysis and accounting principles.
Salary
The average chief financial officer salary in the US is $410,539 as of January 27, 2022. The range generally falls between $312,111 and $524,582.
Depending on various factors — education, certifications, unique talents, and the number of years of experience — salaries might differ considerably.
Qualifications Needed to Become a Chief Financial Officer
CFOs may only require a bachelor’s degree in finance or accounting, but a master’s degree is often preferred. Certification from the Institute of Management Accountants (CMA) or Association for Financial Professionals (AFP) can also be helpful.
Growth Potential for Chief Financial Officers
The US Bureau of Labor Statistics predicts that the annual increase of CFOs will average 4% through 2029, slightly lower than for all occupations.
4. Actuary
One of the most lucrative fields for finance majors is actuarial science. Actuaries assess financial risks and help companies plan for unexpected events. They typically have a strong background in math and statistics.
Salary
In May 2020, the median annual salary for actuaries was $111,030.
The Bureau of Labor Statistics reveals that the lowest 10% received less than $66,030 per year, while the top 10% earned more than $196,010 per year.
Qualifications Needed to Become an Actuary
To become an actuary, you will need a bachelor’s degree in actuarial science or a related field. For accreditation, you will also need to pass the Casualty Actuarial Society (CAS) or the Society of Actuaries (SOA) exams.
Growth Potential
According to the BLS, actuaries will have a lot of job opportunities in the future. The profession will have a 24 percent higher employment rate than typical jobs from 2020 to 2030.
Over the decade, 2,400 new actuarial job opportunities are expected each year, on average. Many of these openings will be available to replace employees who move into different career paths or leave the workforce, such as retirees.
5. Personal Financial Advisors
Personal financial advisors help people manage their finances by providing advice on investments, insurance, mortgages, and other financial matters.
These professionals analyze the business world to help make financial decisions for their clients.
Salary
According to the BLS, personal financial advisors earned a median annual salary of $89,330 in May 2020. The lowest 10% of earners made less than $44,100 per year, while the top 10% took home more than $208,000 per year.
Qualifications Needed to Become a Personal Financial Advisor
To become a personal financial advisor, you’ll typically need a bachelor’s degree in finance or a related field. It would help if you also obtained licensure to sell securities. Many employers require certification from the Certified Financial Planner Board of Standards.
Growth Potential for Personal Financial Advisors
Personal financial advisors will see a slower than average rate of growth over the next decade, according to employment prospects through 2030.
Despite a lack of job creation, the BLS predicts that the number of personal financial advisor jobs will remain at 21,500 per year over the next decade, on average.
The majority of those openings will replace workers who move into different occupations or leave the workforce.
6. Statisticians
Statisticians collect, analyze, and interpret data to help businesses and organizations make informed financial decisions. They typically have an undergraduate degree in mathematics, economics, or statistics.
Salary
In May 2020, statisticians made a median yearly salary of $92,270, according to the BLS. The lowest 10 percent earned less than $52,700 per year, while the top 10 percent earned more than $150,840.
Qualifications Needed to Become a Statistician
A bachelor’s degree in mathematics, economics, or statistics is necessary to become a statistician. However, employers often prefer candidates with a master’s degree. Strong analytical and mathematical skills are also essential.
Growth Potential for Statisticians
Analysis by the BLS indicates that the employment of statisticians will increase much faster than the average for all jobs.
The rise could be 33% from 2020 to 2030.
Over the next decade, there will be around 5,200 mathematics and statistician job openings each year, on average.
7. Financial Analysts
Financial analysts assess a company’s financial status and make recommendations to investors, management, and other stakeholders. An understanding of complex financial data is a must. Financial analysts work for banks, insurance companies, accounting firms, or investment firms.
Salary for Financial Analysts
In May 2020, the median annual pay for financial analysts was $83,660. The lowest 10% made less than $48,760 per year, while the top 10% earned more than $159,560.
Qualifications Needed to Become a Financial Analyst
Most financial analysts have a bachelor’s degree in finance or economics. However, employers may prefer candidates who have an advanced degree, such as a master’s in business administration (MBA) with a concentration in finance. Such an education benefits analysts to understand and analyze complex financial data.
Growth Potential
Financial analysts will see a 6% increase in employment between 2020 and 2030, roughly matching the growth rate for all jobs.
On average, the BLS predicts approximately 41,000 financial analyst positions to open each year during the next ten years.
8. Financial Examiners
Financial examiners ensure that businesses and individuals comply with economic laws and regulations. They conduct audits, investigate financial crimes, and help to prevent fraud.
This position of great responsibility requires a great deal of analytical skill.
Salary
In May 2020, the median annual wage for financial evaluators was $81,430. The top 10 percent earned more than $159,120, while the bottom 10% made less than $43,890.
Qualifications Needed to Become a Financial Examiner
You must have a bachelor’s degree in accounting, finance, or a related field for this position. Some employers prefer candidates who have also passed the Certified Public Accountant (CPA) exam.
Growth Potential for Financial Examiners
Predictions by the BLS show positions for financial examiners will increase by 18% between 2020 and 2030, considerably faster than the general trend for all occupations.
On average, 6,900 openings for financial examiners are expected each year during the decade.
9. Insurance Underwriters
Insurance underwriters evaluate the risk of insuring individuals, businesses, and properties. They work with insurance agents to recommend the best policies for their clients and help set premiums.
Salary
In May 2020, the median annual income for insurance underwriters was $71,790. Based on the Bureau of Labor Statistics data, the lowest 10% made less than $43,210, while the top 10% earned more than $129,550.
Qualifications Needed to Become an Insurance Underwriter
To become an insurance underwriter, you will need a bachelor’s degree in finance, business, or a related field.
You will also need strong analytical skills and knowledge of risk assessment.
Growth Potential for Insurance Underwriters
According to the BLS, the employment level of insurance underwriters will drop by 2 percent from 2020 to 2030.
Over the next decade, approximately 8,300 insurance underwriting positions should open each year on average, despite declining employment.
10. Budget Analyst
A budget analyst creates and oversees the budget for a company or organization. They work with senior management to forecast future revenue and expenses and recommend the best allocation of resources.
Salary
In May 2020, according to the BLS, the median annual salary for budget analysts was $78,970. The lowest 10 percent made less than $51,220 per year, while the top 10 percent earned more than $121,360 making it one of the best paying jobs in finance.
Qualifications Needed to Become a Budget Analyst
Budget analysts typically need a bachelor’s degree in finance or a related field.
Some employers require or prefer candidates with a master’s degree.
Growth Potential for Budget Analysts
The demand for budget analysts will grow by 5% from 2020 to 2030, slower than the overall employment growth rate. Although employment will rise by only 5 percent over the next decade, on average, 4,300 openings for budget analysts are expected each year during that time.
11. Accountants
Accountants have one of the most versatile careers in finance. They can work for companies, organizations, or individuals. Accountants record, classify and report financial information. They also provide advice on financial matters to clients or employers.
Salary
The median annual salary for accountants was $73,560 in May 2020. The lowest 10% made less than $45,220 per year, while the top 10% earned more than $128,680.
Qualifications Needed to Become an Accountant
To become an accountant, you must have a bachelor’s degree in accounting from an accredited school.
You will also need to pass the Certified Public Accountant (CPA) exam.
Growth Potential for Accountants
The demand for accounting services will grow 7% from 2020 to 2030. This is about as quickly as the average for all jobs.
Over the next ten years, on average, there will be approximately 135,000 job openings for accountants per year.
12. Purchasing Managers
Purchasing managers acquire materials and services for their organization. They work with suppliers to get the best prices and terms and develop contracts to purchase goods and services.
Salary
The median annual wage for purchasing managers was $125,940 in May 2020. The lowest 10% of earners made less than $74,570 per year, while the top 10 percent earned more than $197,630 per year.
Qualifications Needed to Become a Purchasing Manager
A bachelor’s degree in business administration, economics, or finance is the typical minimum education requirement for this job.
However, employers may prefer candidates with a master’s degree.
Growth Potential for Purchasing Managers
The BLS anticipates purchasing managers, purchasing agents, and buyers to lose 4% of their employment levels by the end of the current decade.
Over the next ten years, on average, there will be about 45,800 job openings for purchasing managers, purchasing agents, and buyers each year. This is a positive trend considering that the profession expects a 4% decline from 2020 to 2030.
13. Financial Services Sales Agents
Financial services sales agents sell financial products and services to individuals and businesses. To recommend the best products for their clients, they must understand financial products and services. These professionals typically work for banks, insurance companies, or investment firms.
Salary
According to the BLS, financial services sales agents made a median salary of $64,770 per year in May 2020.
The lower 10% made less than $36,910, while the top 10% earned more than $208,000.
Qualifications Needed to Become a Financial Services Sales Agent
To become a financial services sales agent, you typically need a bachelor’s degree in finance or a related field. Many employers also require several years of sales experience.
As for skills, you should be able to build relationships with clients, understand financial products and services, and negotiate prices.
Growth Potential for Financial Services Sales Agents
The BLS anticipates job openings for financial services sales agents to grow by only 4% over the decade. This is a slower rate than most occupations.
Despite a modest employment increase, an average of 42,500 jobs are anticipated each year over the decade.
14. Loan Officers
As you may know, a loan officer helps people obtain loans. They work with banks and other lenders to find loan products that fit customers’ needs.
Loan officers typically have a bachelor’s degree in finance or a related field.
Salary
In May 2020, the median salary for loan officers was $63,960. The bottom 10% earned less than $33,650, while the top 10% made more than $133,850.
Qualifications Needed to Become a Loan Officer
To become a loan officer, you need a bachelor’s degree in finance or a related field. You also need to have at least two years of experience working in banking or financial services.
Growth Potential for Loan Officers
Loan officers’ employment should remain unchanged over the next decade.
Despite this stagnation, about 25,000 loan officer job openings are expected each year on average throughout the decade.
15. Cost Estimators
Cost estimators calculate the cost of a product or service. They work with engineers, architects, and other professionals to develop an accurate estimate. As a cost estimator, you can work on many projects in various industries, including construction, engineering, healthcare, and manufacturing.
Salary
As depicted on the BLS site, cost estimators earned a median annual wage of $66,610 in May 2020. The lowest 10% took home less than $40,380 per year, while the top 10% made more than $114,360.
Qualifications Needed to Become a Cost Estimator
Like most finance jobs, you will need a degree to become a cost estimator. Most employers require a bachelor’s degree in business, engineering, or math.
You could also pursue certification in a specific field, such as construction estimating, to advance your career.
Growth Potential for Cost Estimators
Data from the U.S. Bureau of Labor Statistics shows the employment of cost estimators to remain flat throughout the next decade.
Although employment will stay constant, around 17,800 job openings for cost estimators are projected on average each year during the decade.
16. Tax Examiners and Collectors and Revenue Agents
Tax examiners, collectors, and revenue agents work with the Internal Revenue Service to ensure that everyone pays their fair share of taxes.
They collect taxpayer information, review tax returns, identify errors, and investigate tax fraud.
Salary
Tax examiners, collectors, and revenue agents earned a median yearly salary of $55,640 in May 2020. The lowest 10% received less than $33,180 per year, while the top 10% made more than $105,430.
Qualifications Needed to Become a Tax Examiner, Collector, or Revenue Agent
A bachelor’s degree in accounting, finance, or a related field is usually required to become a tax examiner, collector, or revenue agent. Employers often prefer candidates who have completed a post-secondary program, specifically in taxation.
The necessary skills for this career include:
- Strong math skills
- Excellent communication and problem-solving skills
- Knowledge of tax laws and regulations
Growth Potential for Tax Examiner, Collector, or Revenue Agent
Tax examiners, collectors, and revenue agents should see a 4% decrease in employment from 2020 to 2030.
Even so, over the next decade, an estimated 4,400 tax examiner and collector and revenue agent job openings will be available each year on average, according to projections by the BLS.
17. Logisticians
Logisticians work with supply chains and inventory, ensuring delivery of the right products to the right places at the correct times. Experts in this field are well-known for their analytical skills and ability to think on their feet.
Salary
Logisticians earned a median annual salary of $76,270 in May 2020. The lowest 10% made less than $44,190, while the highest 10% earned more than $122,580.
Qualifications Needed to Become a Logistician
Most logisticians have a bachelor’s degree in logistics, business administration, or a related field. However, some employers prefer candidates with a master’s degree.
Growth Potential for Logisticians
The U.S. Bureau of Labor Statistics projects that the employment of logisticians will grow 30% from 2020 to 2030, much faster than the average for all occupations.
As companies continue to outsource their logistics operations, there will be a growing need for about 24,500 openings for logisticians to manage these functions.
18. Management Analysts
Management analysts work with organizations to improve their performance. They collect and analyze data to identify areas for improvement and develop plans and strategies to increase efficiency. These professionals can work in various industries, but they most commonly find employment in the finance, healthcare, and manufacturing sectors. Since these professionals work in many career sectors, it’s a great option for one of the best paying jobs in finance.
Salary
The BLS reports that management analysts made a median salary of $87,660 in May 2020. The lowest 10% made less than $50,990, while the top 10% earned more than $156,840.
Qualifications Needed to Become a Management Analyst
Most management analyst positions require a bachelor’s degree in business administration, finance, economics, or a related field.
However, some employers prefer candidates with an advanced degree.
While you do not need certification for this profession, it can help improve your chances of employment.
Growth Potential for Management Analysts
Management analysts will have increasing job opportunities between 2020 and 2030, faster than the average for all jobs.
On average, about 99,400 openings for management analysts are expected each year over the decade.
19. Market Research Analysts
Market research analysts study market conditions. They examine possible sales of a product or service. They help companies understand what products people want, how much they are willing to pay for them, and their target audience.
Salary
In May 2020, the median annual wage for market research analysts was $65,810. The top 10 percent of market research analysts made more than $127,410 per year, while the bottom 10% earned less than $35,380 each year.
Qualifications Needed to Become a Market Research Analyst
A bachelor’s degree in business administration, economics, mathematics, or statistics is the most common education for market research analysts.
However, employers often prefer candidates with a master’s degree in business administration or marketing.
The Growth Potential for Market Research Analysts
Market research analysts will see rapid growth during the next decade, with employment expected to rise 22 percent from 2020 to 2030, much faster than the average for all occupations. On average, there will be about 96,000 job openings for market research analysts each year during the decade.
20. Credit Analysts
Last on our list of the highest paying jobs for finance majors are credit analysts. Credit analysts evaluate a company’s credit risk and issue recommendations to lending institutions. This role may also involve creating presentations to summarize a company’s financial stability.
Salary
The BLS reports that the median salary for credit analysts was $74,970 in May 2020. Data showed that the lowest-earning 10% of workers in this occupation made less than $44,250, while the highest-earning 10% brought home more than $146,690.
Qualifications Needed to Become a Credit Analyst
A bachelor’s degree in finance or a related field is typically required to become a credit analyst. However, some employers prefer candidates to have a master’s degree.
That’s not all. Credit analysts need to read and understand financial statements. Therefore, strong math and accounting skills are necessary. They should also have excellent communication skills to explain their findings to others effectively.
Growth Potential for Credit Analysts
Like financial analysts, credit analysts are in high demand as the economy grows. The BLS projects that employment for credit analysts will increase by 6% from 2020 to 2030, which is faster than the average for all occupations.
Within the above 20 occupations, you have a good starting point for finding the best job fit for your skills and interests. No matter which field you choose, be sure to continue learning and developing your skills so that you can stay ahead of the competition.
FAQs: Best Paying Jobs In Finance
Can I earn a finance major online?
Yes. There are a growing number of online finance degree programs available. Still, not all programs offer the same level of quality or rigor. It’s essential to do your research before deciding on an online finance degree program.
GetEducated reviews and ranks online finance degree programs each year to assist you. The findings help you make informed decisions about your education. There are many accredited and affordable online bachelor’s degrees in finance and master’s degrees in finance.
What are the most common jobs for finance majors?
Now that we’ve answered the question, “what do finance jobs pay”, you may be wondering what are the most common jobs for graduate of a finance degree program. The most common jobs for finance majors lie in the financial services industry. Positions in this field include financial analyst, investment banker, and financial planner, among many more.
What do finance jobs pay?
Finance is a high-paying major. The average starting salary for finance majors is $55,000, and the average mid-career salary is $110,000.
Is finance a promising career in the US?
Yes. The finance field offers a promising career in the US with high salaries and opportunities for growth.
Take the Next Step into One of the Best Paying Jobs in Finance
Landing one of the best paying jobs in finance will typically provide a six-figure salary and plenty of opportunities for advancement.
Do you want to earn your finance major online? Check our online database of online finance degrees.
Earn your degree from a school that’s respected and accredited. Financial planning is a growing field, and an online finance degree can give you the skills you need to succeed.
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Business Manager-Finance Manager Salary (September 2022) – Zippia
Updated August 22, 2022
$106,036yearly
To create our salary estimates, Zippia starts with data published in publicly available sources such as the U.
S. Bureau of Labor Statistics (BLS), Foreign Labor Certification Data Center (FLC) Show More
$50.98 hourly
Entry level Salary
$73,000
yearly
$73,000
10 %
$106,036
Median
$152,000
90 %
How much does a Business Manager-Finance Manager make?
Business manager-finance managers make $106,036 per year on average, or $50.98 per hour, in the United States. Business manager-finance managers on the lower end of that spectrum, the bottom 10% to be exact, make roughly $73,000 a year, while the top 10% makes $152,000.
Location impacts how much a business manager-finance manager can expect to make. Business manager-finance managers make the most in California, Connecticut, Massachusetts, Oregon, and Delaware.
Highest Paying State
California
Highest Paying City
San Francisco, CA
Highest Paying Company
ZS
What Am I Worth?
Highest Paying State
California
Highest Paying City
San Francisco, CA
Highest Paying Company
ZS
What Am I Worth?
Highest Paying States For Business Manager-Finance Managers
The darker areas on the map show where business manager-finance managers earn the highest salaries across all 50 states.
- State View
- County View
Average Salary:
Business Manager-Finance Manager average salary by State
| Rank | State | Avg. Salary | Hourly Rate | Job Count |
|---|---|---|---|---|
| 1 | California | $125,674 | $60.42 | 8,685 |
| 2 | Connecticut | $117,703 | $56.59 | 891 |
| 3 | Nevada | $110,312 | $53.03 | 663 |
| 4 | Delaware | $115,379 | $55.47 | 318 |
| 5 | Massachusetts | $116,358 | $55.94 | 2,406 |
| 6 | New York | $109,819 | $52.80 | 3,815 |
| 7 | Montana | $109,733 | $52.76 | 278 |
| 8 | Maryland | $113,838 | $54.73 | 1,539 |
| 9 | Oregon | $116,141 | $55. 84 |
832 |
| 10 | Pennsylvania | $115,101 | $55.34 | 2,059 |
| 11 | Wisconsin | $92,837 | $44.63 | 1,672 |
| 12 | Alaska | $97,390 | $46.82 | 253 |
| 13 | District of Columbia | $103,929 | $49.97 | 595 |
| 14 | Virginia | $105,250 | $50.60 | 2,180 |
| 15 | Illinois | $95,722 | $46.02 | 3,225 |
| 16 | Washington | $97,422 | $46.84 | 1,946 |
| 17 | Arizona | $97,336 | $46.80 | 1,312 |
| 18 | Maine | $100,870 | $48.50 | 206 |
| 19 | Rhode Island | $97,186 | $46.72 | 217 |
| 20 | South Dakota | $91,193 | $43.84 | 236 |
| 21 | Utah | $85,144 | $40.93 | 1,186 |
| 22 | New Jersey | $96,638 | $46. 46 |
1,864 |
| 23 | Idaho | $96,463 | $46.38 | 272 |
| 24 | Alabama | $86,044 | $41.37 | 1,068 |
| 25 | New Mexico | $92,469 | $44.46 | 412 |
| 26 | West Virginia | $89,227 | $42.90 | 299 |
| 27 | Louisiana | $88,334 | $42.47 | 748 |
| 28 | Michigan | $83,452 | $40.12 | 2,218 |
| 29 | Vermont | $94,929 | $45.64 | 135 |
| 30 | Tennessee | $83,061 | $39.93 | 1,435 |
| 31 | Missouri | $82,331 | $39.58 | 1,728 |
| 32 | North Dakota | $84,820 | $40.78 | 210 |
| 33 | New Hampshire | $89,002 | $42.79 | 326 |
| 34 | Kansas | $84,401 | $40.58 | 684 |
| 35 | North Carolina | $85,196 | $40. 96 |
2,099 |
| 36 | Iowa | $80,156 | $38.54 | 935 |
| 37 | Indiana | $80,828 | $38.86 | 1,588 |
| 38 | Ohio | $79,056 | $38.01 | 2,566 |
| 39 | Oklahoma | $84,659 | $40.70 | 473 |
| 40 | Minnesota | $82,904 | $39.86 | 1,506 |
| 41 | Kentucky | $77,377 | $37.20 | 930 |
| 42 | South Carolina | $82,393 | $39.61 | 902 |
| 43 | Nebraska | $68,156 | $32.77 | 627 |
| 44 | Arkansas | $75,962 | $36.52 | 608 |
| 45 | Colorado | $76,338 | $36.70 | 1,410 |
| 46 | Hawaii | $61,974 | $29.80 | 215 |
| 47 | Texas | $76,341 | $36.70 | 4,307 |
| 48 | Mississippi | $76,884 | $36. 96 |
445 |
| 49 | Florida | $75,428 | $36.26 | 3,382 |
| 50 | Georgia | $74,915 | $36.02 | 2,225 |
| 51 | Wyoming | $74,820 | $35.97 | 118 |
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JobsTop Business Manager-Finance Manager Jobs Near You
Highest Paying Cities For Business Manager-Finance Managers
| Rank | City | Avg. Salary | Hourly Rate |
|---|---|---|---|
| 1 | San Francisco, CA | $132,738 | $63.82 |
| 2 | Missoula, MT | $116,105 | $55.82 |
| 3 | Philadelphia, PA | $116,102 | $55.82 |
| 4 | Beaverton, OR | $115,886 | $55.71 |
| 5 | Amherst, MA | $115,840 | $55. 69 |
| 6 | Wilmington, DE | $115,684 | $55.62 |
| 7 | Bethesda, MD | $113,459 | $54.55 |
| 8 | New York, NY | $110,056 | $52.91 |
| 9 | Arlington, VA | $106,622 | $51.26 |
| 10 | Seattle, WA | $98,198 | $47.21 |
| 11 | Evanston, IL | $96,737 | $46.51 |
| 12 | Newark, NJ | $96,715 | $46.50 |
| 13 | Morgantown, WV | $91,323 | $43.91 |
| 14 | Detroit, MI | $83,778 | $40.28 |
| 15 | Charlotte, NC | $83,501 | $40.14 |
Business Manager-Finance Manager Salary Details
Average Business Manager-Finance Manager Salary Graph, Trends, and Summary
What is a Business Manager-Finance Manager’s Salary?
| Percentile | Annual Salary | Monthly Salary | Hourly Rate |
|---|---|---|---|
| 90th Percentile | $152,000 | $12,667 | $73 |
| 75th Percentile | $128,000 | $10,667 | $62 |
| Average | $106,036 | $8,836 | $51 |
| 25th Percentile | $87,000 | $7,250 | $42 |
| 10th Percentile | $73,000 | $6,083 | $35 |
Average Salary By Related Titles
| Job Title | Annual Salary | Monthly Salary | Hourly Rate | Job Openings |
|---|---|---|---|---|
| Finance Planning Manager | $109,162 | $9,097 | $52. 48 |
120,588 |
| Finance Center Manager | $58,763 | $4,897 | $28.25 | 151,642 |
| Cash Manager | $93,363 | $7,780 | $44.89 | 60,517 |
| Finance Director | $118,518 | $9,877 | $56.98 | 90,012 |
| Banking Center Manager | $128,585 | $10,715 | $61.82 | 87,078 |
| Business Director | $124,563 | $10,380 | $59.89 | 137,880 |
Here are the five companies hiring the most now:
- Microsoft Jobs (8)
- Harley-Davidson Jobs (6)
- Cisco Jobs (87)
- Merrill Lynch Jobs (6)
- Nike Jobs (10)
Which Companies Pay Business Manager-Finance Managers The Most?
According to our most recent salary estimates, ZS and Citi are the highest paying companies for business manager-finance managers.
How Much Do Business Manager-Finance Managers Make In Different Industries?
Business manager-finance manager salaries can vary depending on the industry.
In fact, our data shows that the finance, technology, and retail industries tend to offer much higher salaries for business manager-finance managers. For example, business manager-finance managers make a whopping average salary of $115,910 while working in the finance industry. Meanwhile, other people in this field are making $110,340 in the technology industry and $99,847 in the retail industry.
Business manager-finance managers may want to avoid working in the hospitality industry as it offers the lowest average salary of $88,859.
Highest Paying Industries For Business Manager-Finance Managers
| Rank | Industry | Average Salary | Hourly Rate |
|---|---|---|---|
| 1 | Finance | $115,910 | $55.73 |
| 2 | Technology | $110,340 | $53.05 |
| 3 | Retail | $99,847 | $48.00 |
| 4 | Manufacturing | $97,360 | $46. 81 |
| 5 | Government | $96,458 | $46.37 |
| 6 | Automotive | $94,362 | $45.37 |
| 7 | Hospitality | $88,859 | $42.72 |
High Paying Business Manager-Finance Manager Jobs
Business Manager-Finance Manager Salary Trends
The salary for a business manager-finance manager can vary depending on the years of experience that a person has, from entry level to senior level. Data on how experience level affects total compensation is provided by the Bureau of Labor Statistics (BLS) as part of their National Compensation Survey, which is based on factors such as knowledge, complexity, contacts, and environment.
Entry LevelAvg.salary$73k
Senior LevelAvg.salary$173k
Business Manager-Finance Manager Salary By Experience Level
| Experience Level | Avg. Salary | Hourly Rate |
|---|---|---|
| Entry Level | $72,900 | $35. 05 |
| Mid Level | $113,000 | $54.25 |
| Senior Level | $173,000 | $83.38 |
Average Business Manager-Finance Manager Salary Over Time
Compare salaries for individual cities or states with the national average.
Recently Added Business Manager-Finance Manager Salaries
Business Manager-Finance Manager Salaries FAQs
What state pays Business Manager-Finance Managers the most?
California pays Business Manager-Finance Managers the most in the United States, with an average salary of $125,674 per year, or $60.42 per hour.
How do I know if I’m being paid fairly as a Business Manager-Finance Manager?
You know if you are being paid fairly as a Business Manager-Finance Manager if your pay is close to the average pay for the state you live in. For example, if you live in Connecticut you should be paid close to $117,703 per year.
What type of Business Manager-Finance Manager gets paid the most?
Senior Business Manager gets paid the most.
Senior Business Manager made a median salary of $134,737. The best-paid 10 percent make $160,000, while the lowest-paid 10 percent make $113,000.
Have more questions? See all answers to common executive management questions.
Search For Business Manager-Finance Manager Jobs
Updated August 22, 2022
U.S. Bureau of Labor Statistics
PRINTER-FRIENDLY
- Summary
- What They Do
- Work Environment
- How to Become One
- Pay
- Job Outlook
- State & Area Data
- Similar Occupations
- More Info
Summary
Please enable javascript to play this video.
Video transcript available at https://www.youtube.com/watch?v=8ATMziMJ1fw.
| Quick Facts: Financial Managers | |
|---|---|
| 2021 Median Pay |
$131,710 per year $63.32 per hour |
| Typical Entry-Level Education | Bachelor’s degree |
| Work Experience in a Related Occupation | 5 years or more |
| On-the-job Training | None |
| Number of Jobs, 2021 | 730,800 |
| Job Outlook, 2021-31 | 17% (Much faster than average) |
| Employment Change, 2021-31 | 123,100 |
What Financial Managers Do
Financial managers create financial reports, direct investment activities, and develop plans for the long-term financial goals of their organization.
Work Environment
Financial managers work in many industries, including banks, investment firms, and insurance companies. Most financial managers work full time, and some work more than 40 hours per week.
How to Become a Financial Manager
Financial managers typically need a bachelor’s degree and 5 years or more of experience in another business or financial occupation, such as accountant, securities sales agent, or financial analyst.
Pay
The median annual wage for financial managers was $131,710 in May 2021.
Job Outlook
Employment of financial managers is projected to grow 17 percent from 2021 to 2031, much faster than the average for all occupations.
About 71,300 openings for financial managers are projected each year, on average, over the decade.
Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
State & Area Data
Explore resources for employment and wages by state and area for financial managers.
Similar Occupations
Compare the job duties, education, job growth, and pay of financial managers with similar occupations.
More Information, Including Links to O*NET
Learn more about financial managers by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
Financial managers perform data analysis and advise senior managers on profit-maximizing ideas.
Financial managers are responsible for the financial health of an organization. They create financial reports, direct investment activities, and develop plans for the long-term financial goals of their organization.
Duties
Financial managers typically do the following:
- Prepare financial statements, business activity reports, and forecasts
- Monitor financial details to ensure that legal requirements are met
- Supervise employees who do financial reporting and budgeting
- Review financial reports and seek ways to reduce costs
- Analyze market trends to maximize profits and find expansion opportunities
- Help management make financial decisions
Financial managers spend much of their time analyzing data and advising senior managers on ways to maximize profits. They often work on teams, acting as advisors to top executives.
Financial managers must have knowledge of the topics, tax laws, and regulations that are specific to their organization or industry. For example, government financial managers must be experts on appropriations and budgeting processes; healthcare financial managers must understand billing, reimbursement, and other business matters related to healthcare.
The following are examples of types of financial managers:
Controllers direct the preparation of financial reports that summarize and forecast an organization’s financial position. These reports may include income statements, balance sheets, and analyses of future earnings or expenses. Controllers also are in charge of preparing reports required by governmental agencies that regulate businesses. Often, controllers oversee the accounting, audit, and budget departments of their organization.
Treasurers and finance officers direct an organization’s budgets to meet its financial goals. They oversee investments and other plans to raise capital, such as issuing stocks or bonds, to support their organization’s growth. They also develop financial plans for mergers (two companies joining together) and acquisitions (one company buying another).
Credit managers oversee an organization’s credit business. They set credit-rating standards, determine credit limits, and monitor the collections of past-due accounts.
Cash managers monitor and control the flow of money into and out of an organization to meet business and investment needs. For example, they must project whether the organization will have a shortage or surplus of cash.
Risk managers use strategies to limit or offset an organization’s chance of financial loss or exposure to financial uncertainty. Among the risks they try to limit are those arising from currency or commodity price changes.
Insurance managers decide how to limit an organization’s losses by protecting against risks, such as for disability payments to an employee who gets hurt on the job or for costs imposed by a lawsuit against the organization.
Financial managers work closely with top managers and with departments that develop the data that financial managers need.
Financial managers held about 730,800 jobs in 2021. The largest employers of financial managers were as follows:
| Finance and insurance | 30% |
| Professional, scientific, and technical services | 15 |
| Management of companies and enterprises | 10 |
| Government | 7 |
| Manufacturing | 6 |
Financial managers work closely with top executives and with departments that develop data needed for analysis.
Work Schedules
Most financial managers work full time, and some work more than 40 hours per week.
How to Become a Financial Manager About this section
Financial managers usually have experience in another business or financial occupation such as a loan officer, accountant, auditor, securities sales agent, or financial analyst.
Financial managers typically need a bachelor’s degree and 5 years or more of experience in another business or financial occupation, such as an accountant, securities sales agent, or financial analyst.
Education
Financial managers typically need at least a bachelor’s degree in business, economics, or a related field. These disciplines help students learn analytical skills and methods.
Licenses, Certifications, and Registrations
Although it is not required, professional certification indicates competence for financial managers who have it. The Association of Government Accountants (AGA) offers the Certified Government Financial Manager (CGFM) designation to financial managers working with federal, state, or local government. To earn this certification, candidates must have a bachelor’s degree from an accredited college or university, pass examinations, and have professional-level experience in government financial management. To keep the certification, CGFMs must complete continuing professional education.
The CFA Institute confers the Chartered Financial Analyst (CFA) certification to investment professionals who have at least a bachelor’s degree or 4 years of work experience, or a combination of experience and education, and who pass three exams. The Association for Financial Professionals confers the Certified Treasury Professional (CTP) credential to those who have at least 2 years of relevant experience or 1 year of experience and a graduate degree in business, finance, or a related field. This association also confers the Certified Corporate Financial Planning Analysis Professional (FP&A) credential to those who have a bachelor’s degree or who are currently enrolled in an undergraduate program with a finance-related major and will graduate within 2 years. Both credentials require passing an exam.
Certified public accountants (CPAs) are licensed by their state’s board of accountancy and must pass an exam administered by the American Institute of Certified Public Accountants (AICPA).
Work Experience in a Related Occupation
Financial managers usually have experience in another business or financial occupation. For example, they may have worked as a loan officer, accountant, securities sales agent, or financial analyst.
In some cases, companies provide management training to help prepare motivated, skilled financial workers to become managers.
Advancement
Experienced financial managers may advance to become chief financial officers (CFOs). These executives are responsible for the accuracy of an organization’s financial reporting.
Important Qualities
Analytical skills. To assist executives in making decisions, financial managers need to evaluate data and information that affects their organization.
Communication skills. Financial managers must be able to explain and justify complex financial transactions.
Detail oriented. In preparing and analyzing reports, such as balance sheets and income statements, financial managers must be precise and attentive to their work in order to avoid errors.
Math skills. Financial managers need strong skills in certain branches of mathematics, including algebra. Ability to understand international finance and complex financial documents also is important.
Organizational skills. Because financial managers deal with a range of information and documents, they must have structures in place to be effective in their work.
Financial Managers
Median annual wages, May 2021
- Financial managers
-
$131,710
- Operations specialties managers
-
$127,140
- Total, all occupations
-
$45,760
The median annual wage for financial managers was $131,710 in May 2021.
The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $77,040, and the highest 10 percent earned more than $208,000.
In May 2021, the median annual wages for financial managers in the top industries in which they worked were as follows:
| Management of companies and enterprises |
$158,820 |
| Professional, scientific, and technical services |
158,770 |
| Manufacturing |
131,710 |
| Finance and insurance |
131,710 |
| Government |
123,010 |
Most financial managers work full time, and some work more than 40 hours per week.
Financial Managers
Percent change in employment, projected 2021-31
- Financial managers
- Operations specialties managers
- Total, all occupations
Employment of financial managers is projected to grow 17 percent from 2021 to 2031, much faster than the average for all occupations.
About 71,300 openings for financial managers are projected each year, on average, over the decade.
Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
Employment
Services provided by financial managers, such as planning, directing, and coordinating investments, are likely to stay in demand as the economy grows. In addition, several specialties within financial management, particularly cash management and risk management, are expected to be in high demand over the decade.
Companies, particularly those with operations in foreign countries, have accumulated more cash on their balance sheets in recent years. As globalization continues, this trend is likely to persist. This practice should lead to demand for financial managers, as companies will need expertise in managing cash.
There has been an increased emphasis on risk management within the financial industry, and this trend is expected to continue. Banking institutions are expected to emphasize stability and managing risk over profits. This emphasis is expected to lead to employment growth for risk managers.
| Occupational Title | SOC Code | Employment, 2021 | Projected Employment, 2031 | Change, 2021-31 | Employment by Industry | ||
|---|---|---|---|---|---|---|---|
| Percent | Numeric | ||||||
|
SOURCE: U.S. Bureau of Labor Statistics, Employment Projections program |
|||||||
|
Financial managers |
11-3031 | 730,800 | 854,000 | 17 | 123,100 | Get data | |
Occupational Employment and Wage Statistics (OEWS)
The Occupational Employment and Wage Statistics (OEWS) program produces employment and wage estimates annually for over 800 occupations. These estimates are available for the nation as a whole, for individual states, and for metropolitan and nonmetropolitan areas. The link(s) below go to OEWS data maps for employment and wages by state and area.
- Financial managers
Projections Central
Occupational employment projections are developed for all states by Labor Market Information (LMI) or individual state Employment Projections offices. All state projections data are available at www.projectionscentral.com. Information on this site allows projected employment growth for an occupation to be compared among states or to be compared within one state. In addition, states may produce projections for areas; there are links to each state’s websites where these data may be retrieved.
CareerOneStop
CareerOneStop includes hundreds of occupational profiles with data available by state and metro area. There are links in the left-hand side menu to compare occupational employment by state and occupational wages by local area or metro area. There is also a salary info tool to search for wages by zip code.
This table shows a list of occupations with job duties that are similar to those of financial managers.
| Occupation | Job Duties | ENTRY-LEVEL EDUCATION | 2021 MEDIAN PAY | |
|---|---|---|---|---|
|
|
Accountants and Auditors |
Accountants and auditors prepare and examine financial records.
|
Bachelor’s degree |
$77,250 |
|
|
Budget Analysts |
Budget analysts help public and private organizations plan their finances.
|
Bachelor’s degree |
$79,940 |
|
|
Financial Analysts |
Financial analysts guide businesses and individuals in decisions about expending money to attain profit.
|
Bachelor’s degree |
$95,570 |
|
|
Insurance Sales Agents |
Insurance sales agents contact potential customers and sell one or more types of insurance.
|
High school diploma or equivalent |
$49,840 |
|
|
Insurance Underwriters |
Insurance underwriters evaluate insurance applications and decide whether to provide insurance, and under what terms.
|
Bachelor’s degree |
$76,390 |
|
|
Loan Officers |
Loan officers evaluate, authorize, or recommend approval of loan applications.
|
Bachelor’s degree |
$63,380 |
|
|
Personal Financial Advisors |
Personal financial advisors provide advice to help individuals manage their money and plan for their financial future.
|
Bachelor’s degree |
$94,170 |
For more information about financial managers, including certification, visit
Global Academy of Finance and Management
For information about the Certified Government Financial Manager (CGFM) designation, visit
Association of Government Accountants
For information about the Certified Treasury Professional and the Financial Planning and Analysis Professional designations, visit
Association for Financial Professionals
For information about the Chartered Financial Analyst program, visit
CFA Institute
For more information about the certified public accountant designation, visit
American Institute of Certified Public Accountants (AICPA)
CareerOneStop
For a career video on financial managers, visit
Financial Managers, Branch or Department
For a career video on treasurers and controllers, visit
Treasurers and Controllers
O*NET
Financial Managers
Investment Fund Managers
Treasurers and Controllers
Suggested citation:
Bureau of Labor Statistics, U. S. Department of Labor, Occupational Outlook Handbook, Financial Managers,
at https://www.bls.gov/ooh/management/financial-managers.htm (visited September 08, 2022).
Last Modified Date:
Thursday, September 8, 2022
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Work for a million: where top managers get paid the most. Forbes Ranking 2021
Executive compensation for the top executives of the largest companies has increased over the year in almost all sectors of the economy. In commercial banks – almost 80%
For 16 years Forbes has been analyzing data on salaries, bonuses and other types of monetary remuneration of top managers of the largest companies operating in Russia in various sectors of the economy. Every year we collect data from leading consulting agencies that specialize in Executive Search. Based on this data, we calculate how much top managers earn on average in various industries, select the 12 most generous from these industries and compile a rating in which industries are ranked by average compensation of the first person.
The oil and gas sector has been the leader of the rating for many years now – according to the latest data, company executives here earn an average of $3 million a year today, 9% more than in 2020. In second place is heavy industry ($2.2 million, 20% growth). On the third — telecommunications ($1.9 million, growth of 46%).
1. Oil and gas companies (revenue of $3 billion)
CEO/President
| Market average compensation in 2021, $ thousand | 3030 |
| average compensation in 2020, $ thousand | 2790 |
| Change, % | |
| Compensation (including monetary bonus) in 2021, min/Mox , $ thousand | 1040-11,000 |
| Fixed part of compensation (salary) in 2021, min/max, $ thousand | 550-7500 |
Vice President of Finance 9 9,000
| average compensation in the market in 2021, $ thousand | 1290 | ||
| average compensation in 2020, $ thousand | 1180 | ||
| Channel, % | |||
| Compensation (including cash bonus) in 2021, min/max, $ thous. |
Vice-President for Geological Bench
| Average compensation in 2021, $ thousand | 1250 |
| The average compensation in the market in 2020, $ | 1010 |
| Change, % | 24 |
| Compensation (including monetary bonus) in 2021, min/Max, $ thousand | 700 – 2700 |
| The fixed part of the compensation (salary) in 2021, min/max, $ thousand | 270-2200 |
Vice-President for processing and sales
| Average compensation in 2021, $ thousand | 1240 9000 9000 9000 | |
| Medium in 2020 in 2020 year, $ thousand | 1050 | |
| Change, % | 18 | |
| Compensation (including cash bonus) in 2021, min/Max, $ millennium | 700 – 2900 | |
| Fixed part of compensation (salary) in 2021, min/max, $ thousand | 240-2400 |
Vice President
| Average Mainstone Compensation in 2021 , $ thousand | 1100 |
| average compensation in 2020, $ thousand | |
| Change, % | 22 |
| Compensation (including monetary bonus) in 2021 in 2021 , min/max, $ thousand | 700 – 3000 |
| The fixed part of compensation (salary) in 2021, min/max, $ thousand | 250 – 2000 |
HR Director with
| Medium for Medium Medium for The compensation market in 2021, $ thousand | 750 |
| average compensation in 2020, $ thousand | 520 |
| Change, % | 44 |
| Compensation (including cash bonus) in 2021, min/max, $ ths. |
Law Department Director
| Average compensation in 2021, $ thousand | 740 |
| Average compensation average in 2020, $ | |
| Change, % | 3 |
| Compensation (including cash bonus) in 2021, min/Max, $ thousand | 140 – 2500 |
| Fixed part of compensation (salary) in 2021 in 2021 year, min/max, $ thousand | 170 — 2400 |
2. Heavy industry ($3 billion in revenue)
General Director/President
| Average compensation average in 2021, $ thousand | 2240 |
| Average compensation in 2020, $ 900 | 1870 |
| Change, % | 20 |
| Compensation (including cash bonus) in 2021, min/max, $ thous. , $ thousand | 300-5500 |
Vice-President of Finance
| Average compensation in 2021, $ thousand | 1130 9000 | |
| Medium for the market in the market in 2020. |
990 | |
| Change, % | 14 | |
| Compensation (including cash bonus) in 2021, min/Max, $ millennium | 390-3400 | |
| Fixed part of compensation (salary) in 2021, min/max, $ thous. | 610 | |
| average compensation in 2020, $ thousand | 570 570 | |
| Change, % | 7 | |
| Compensation (including monetary bonus) in 2021, min/Mac , $ thousand | 300-2000 | |
| Fixed part of compensation (salary) in 2021, min/max, $ thousand | 180-1000 |
Vice-President of Sales
| Mredar The compensation market in 2021, $ thousand | 850 |
| average compensation in 2020, $ thousand | 790 |
| Change, % | 8 |
| Compensation (including cash bonus) in 2021, min/max, $ ths. |
Vice-President for production
| Average compensation average in 2021, $ thousand | 790 |
| Average compensation in 2020, $ thousand | 750 |
| Change, % | 5 |
| Compensation (including cash bonus) in 2021, min/max, $ thous. /Max, $ thousand | 180-2000 |
Vice President of investment
| Medium compensation in 2021, $ thousand | 750 |
| Market average compensation in 2020, $ thousand | 710 |
| Change, % | 6 |
| Compensation (including cash bonus)9 in 2021, min/max 9010-max, $ thousand | |
| The fixed part of the compensation (salary) in 2021, min/max, $ thousand | 115-1700 |
HR for
| Average Mainstone Compensation in 2021 in 2021 , $ thousand | 550 |
| average compensation in 2020, $ thousand | 480 |
| Change, % | 15 |
| Compensation (including monetary bonus) in 2021, min/MACS/MIN , $ thousand | 135-1230 |
| Fixed part of compensation (salary) in 2021, min/max, $ thousand | 120-800 |
Director of the Law Department
9000 9000 9000 9000
| average compensation in the market in 2021, $ thousand | 570 |
| average compensation in 2020, $ millennium | 580 |
| Change, % | -2 |
| Compensation (including cash bonus) in 2021, min/max, $ thous. |
Source: Ward Howell, RosExpert, Odgers Berndtson, Horton International, Transearch, Recruitment boutique S.M.Art.
3. Telecommunication companies (revenue from $ 1 billion)
CEO
| Average compensation in 2021, $ thousand |
|
| The average for the market compensation at 2020 , $ thousand | 1310 |
| Change, % | 46 |
| Compensation (including cash bonus) in 2021, min/max, $ thous. | 600-1700 |
Financial Director
| average compensation in 2021, $ thousand | 640 |
| The average compensation in 2020, $. | 610 |
| Change, % | 5 |
| Compensation (including monetary bonus) in 2021, min/Max, $ thousand | 210-1800 |
| The fixed part of compensation (salary) in 2021, min/Max, $ thousand | 210-600 |
Corporate strategy
| average compensation in 2021 in 2021, $ thousand | 517
020 |
| average compensation in the market in 2020, $ thousand | 460 |
| Change, % | 12 |
| Compensation (including monetary bonus) in 2021, min/max, $ | 220-1000 |
| Fixed part of compensation (salary) in 2021, min/Max, $ thousand | 160-550 |
Marketing Director
| Average Medium according compensation in 2021, $ thousand | 550 |
| average compensation in 2020, $ thousand | 550 |
| Change, % | 0 |
| Compensation (including monetary bonus) in 2021, min/M. |
230-1700 |
| Fixed part of compensation (salary) in 2021, min/max, $ thousand | 140-550 |
9000
| average compensation in the market in 2021, $ thousand | 480 |
| average compensation in 2020, $ thousand | 480 |
| Change, % | |
Director for working with personnel
| Average compensation average in 2021, $ thousand | 400 |
| average compensation in 2020, $ thousand | |
| Change, % | 8 |
| Compensation (including cash bonus) in 2021, min/max, $ thous. , $ thousand | 180-300 |
Law Department Director
| average compensation in 2021, $ thousand | 480 |
| Medium for the market compensation in 2020, $ . |
480 |
| Change, % | 0 |
| Compensation (including cash bonus) in 2021, min/Max, $ thousand | 170-1700 |
| Fixed part of compensation (salary) in 2021, min/max, $ thousand | 130-500 |
The best results among all industries were shown by commercial banks (4th place), here the salaries of managers grew by an average of 76%, to $1.85 million. growth of 53%) and insurance companies (8th place, $1.6 million, growth of 52%).
4. Commercial banks (TOP-30)
Chairman of the board
| Average compensation in 2021, $ thousand | 1850 9000 | |
| The average compensation in 2020, the market in 2020. $ thousand | 1050 | |
| Change, % | 76 | |
| Compensation (including cash bonus) in 2021, min/Max, $ millennium | 480-10 000 | |
| Fixed part of compensation (salary) in 2021, min/max, $ thousand | 340-3500 |
0
The Deputy Chairman of the Retail Business 9000 HR Director with Director of the Legal Department Recruitment boutique S. Managing Director 0 Corporate Finance Director Director of the Analytical Department Asset Management 250-4000 Executive Director/ Head of the BEC Office 9,0004 HR Director of Director of the Law Department CEO Financial Director Marketing Director 900 20 Development Director Operations Personnel Director of Director of the Law Department , Recruitment boutique S.M.Art. CEO 0 Financial Director Executive Director Development Director Director for personnel Director of the Law Department CEO Financial Director Product Line 9000 Marketing Deputy General Director Deputy General Director for Sales/Regional Development 250
Deputy General Director of Anderraiting 0 HR Director with The Law Department Director Why such results in the financial sector? Oksana Morsina, managing partner of RosExpert consulting company, head of the Banks, financial institutions and fintech practice, identifies three points of growth in remuneration in commercial banks: increasing efficiency and profitability through digitalization, building ecosystems, and the explosive growth of interest in retail investment products. “Retail banks in Russia were among the first to embark on the path of digital transformation and, in terms of the level of digitalization, they can easily outperform the world’s largest banks, such as Capital One,” she says. For investment banks, according to Morsina, 2021 was the most successful year in the last 10 years. “The IPO boom, high activity in the capital markets allowed many people to meet their annual budget in September,” she says. The insurance business, she said, was brought out of hibernation by the pandemic. “Accelerated digitalization required the involvement of expensive professionals,” which led to an increase in the income of top managers of insurance companies. Ward Howell partner Veronika Zagieva notes that the increase in total remuneration across certain positions and industries in 2021 is not only due to the payment of higher bonuses due to the good performance of companies. “Not many industries could boast of a good performance last year. But we must not forget about the second factor – the growth of remuneration due to the hiring of new managers from the market. This may explain the high growth in remuneration in the transport industry, one of the hardest hit by the corona crisis. Here, the growth of the average remuneration of the head was 66% (7th place, $1.36 million). Nina Medovaya, partner at the RosExpert consulting company, head of the Industry practice, says that rapid transformation processes are underway in the transport and logistics sector: “This requires the involvement of new and rather expensive competencies from donor sectors, such as e-commerce, technology sector, retail, where salary expectations are already too high. The competition for the best of the best is growing. The picture was reversed in the pharmaceutical industry — the industry itself flourished during the pandemic, but the heads of pharmaceutical campaigns, on average, increased their income by only 7%, to $440,000 per year. The industry remains at the bottom of the list of 12. CEO/President Vice-President of Finance 0005 Vice-President of Real Estate Management Vice-President of Sales Vice-President of investment 0 Director of the legal department Source: Ward Howell, RosExpert, Odgers Berndtson, Horton International, Transearch, Recruitment boutique S.M.Art. CEO Financial Director 9009
Marketing Director Sales/Sales Logistics Director Director for personnel Director of the Law Department CEO 0 Financial Director Executive Director Director for working with Law Department Director General Director 9000 9000 Commercial director Personnel Director of Director of the Law Department The ranking of the 12 sectors of the Russian economy with the highest level of payment for top managers this year is based on data from six consulting agencies specializing in the selection of senior executives: Ward Howell, RosExpert, Odgers Berndtson, Horton International, Transearch , Recruitment boutique S.M.Art. The rating is based on the amounts of remuneration that companies paid to top managers in 2020 or appointed in 2021. The conversion rate of 74.6 rubles per dollar was taken into account (the average rate for the period from October 1, 2020 to October 1, 2021). The industries in the rating are arranged in accordance with the average annual compensation of the first person of the enterprise. For each industry and for each position, the range and average value of the annual remuneration are indicated, taking into account all examples known to headhunters. The maximum amount of compensation is given without taking into account exceptional cases that stand out against the general background. Layout prepared with the participation of Maxim Shchedrin co-founder of Rincon Venture Partners
When we look at the startups we want to invest in, we always ask how much the founders expect to earn. We pay attention only to those who do not expect a market-level salary, but are ready to limit themselves in finances. Experienced entrepreneurs understand that investments are very “expensive” money. Of course, money is an important part of business. But they shouldn’t bother the founder. The salary should be enough to cover the rent – this headache must not distract him. It is also impossible for him to be distracted by the choice of a new house, which he will buy with his high salary. But when the company proves that it feels great in the market, salaries should be raised to the market average. At the same time, even in the first more or less prosperous period, when it seems that the company is no longer on the verge of extinction, one should remain sober when calculating the salaries of managers. This should take into account human productivity and incentives that will increase it. Y Combinator partner
A business founder’s salary should be based on his needs. A 21-year-old startup who rents an apartment with friends should be making less than a father of three. First, how much money do you need to live outside of work? Perhaps the company is your passion, and you will work around the clock, even on weekends. But still, your salary should allow you to relax with friends or family from time to time. Second, how long are you going to live on this money? If you have enough savings to pay yourself below market wages and live like this for a year, you can save company capital. The main thing, therefore, is to observe the golden mean – to assign yourself not too little, but not too much either. The research company 80,000 Hours analyzed the companies of the Y Combinator accelerator and found out that the minimum salary for the founders of the company is $50,000 per year. If a company raised money from a venture fund, this amount could double. CEO of investor search service Covestor and founder of CircleLending, acquired by Virgin Calculating salaries is more of an art than a science. It’s hard to settle on one universal solution here: some companies work great when all founders get the same, others feel just as good with a noticeable difference in income. What criteria to choose when calculating salaries? – Salaries should not depend on experience – they should only be related to work efficiency. For a start-up, the obvious criterion in the formation of salaries will be the real income that this or that employee brought. In rare cases, an exception can be made: if an employee is exceptionally good at his tasks, but has not yet brought money to the company, you can also invest in his future financial performance. – Salaries should not be based on the average market salary – startups often pay 30 percent less than the market average. – To save on salaries, there are a few tricks. Firstly, you can hire mothers with small children – this is the secret weapon of many startups. Young mothers spend a lot of time at home, they are bored and want to work, and many of them even have good experience – but due to the flexible schedule, they can be paid twice as much. – Don’t cheat your employees with deferred pay or exorbitant bonuses that will follow after some time. Many companies do this – but it is better to assure your employees of something else: that their salary will increase in proportion to the success of the company. This will stimulate their work much more. – You should also not promise your employees options or other intangible bonuses instead of their fair salary. You can’t know if your company will ever become profitable, so it’s hardly fair compensation. – Use the work of interns and volunteers – but in moderation. Often unpaid staff is the most logical solution in the early stages of a startup – and recent students compete among themselves to gain experience from you. At the same time, do not forget to think about motivation: you do not pay them, and other management methods should work here. Talk to the interns about their life goals, what they want to achieve – and remember to meet with them from time to time to follow their progress. – Think about possible income. What if you need to hire three people, but now there is money to pay the salary of only one? Figure out how to increase income, and be the first to hire the person who can increase this income so that there is something to pay the salary of the remaining two. Marina Antsiperova #entrepreneurship #startup #advice #finance #salary Mikhail Kotyukov: Children should be involved in financial matters as early as possible. Photo: press service of the Ministry of Finance of the Russian Federation What, again a new lesson? No, everything is within the framework of courses in mathematics, algebra, computer science, social science, the world around us and geography. Mikhail Mikhailovich, according to surveys, every second teacher believes that the modern school lacked the basics of financial literacy. Why did the lessons appear right now? Mikhail Kotyukov: The financial literacy project was launched back in 2010 as part of cooperation with the World Bank. In 2017, the National Strategy for Improving Financial Literacy was adopted, the implementation of which is the responsibility of the Ministry of Finance and the Bank of Russia. Other departments have also become involved in this work. At first, the work was carried out in pilot regions, today children will learn financial literacy both in compulsory school subjects and as part of extracurricular activities. Now we are adding information about anti-fraud, digital security. And a very important block is about public finances: what are taxes, why they need to be paid, what is the budget, what opportunities the budget provides for the family, how you can influence the decisions that are made by the authorities in the distribution of budgetary resources. Where do you start at school? Mikhail Kotyukov: Of course, from the family budget: what to spend on, where to save money, take a loan or installment plan, make a contribution or put it aside “in the nightstand”. Financial well-being begins with financial planning, and this should be learned as early as possible. In addition, we want people to understand the difference between “white” and “gray” wages, starting from the earliest years, to understand that working “white” is better than receiving a salary in an envelope. Maybe at the moment it is a little less than you want, but in the future it gives completely different horizons. The Ministry of Finance prepared financial literacy textbooks for grades 1-11. Examination passed, books are awaiting inclusion in the federal list of textbooks Do you think first-graders will be hooked by stories about “white” wages? Not boring? Mikhail Kotyukov: Naturally, it is necessary to speak with each age group in an understandable, accessible language. For the smallest, the Ministry of Finance, together with the professional community, developed various games. There are even special editions of favorite children’s cartoons on the topic of finance, such as Prostokvashino. By the way, there already in the first seasons Matroskin demonstrates excellent financial preparation. Remember how he buys a cow with an eye on both milk and calf. The children of these heroes love and trust them. There is also a series of materials for older children in addition to what they will learn at school. The project “Pushkin Knows!” is just about to start for high school and university students. These are video podcasts on various topics of personal finance management: savings, financial risks and financial security, the first independent earnings and others. Why Pushkin? Just a classic knew firsthand about loans and debts. Both cartoons and podcasts can be watched on our special portal moifinansy.rf. How will everything be at school? Mikhail Kotyukov: Let me emphasize once again: there will be no separate subject “financial literacy”. But the elements of the theme within the framework of the Federal State Educational Standards are integrated into those school subjects that are most disposed to this. For example, in elementary school, in mathematics lessons, children learn how to check receipts if you buy something in a store, how to count change, and compare the usefulness of a product with its price. On the “environment” they will talk about the family budget and the protection of personal data. Starting from the fifth grade, everything is more serious. As part of the course of mathematics and algebra, students will get acquainted with the concept of “tax”, “tax deduction”, learn about bank deposits and interest rates. Geography will talk about how the economic situation in the country affects personal well-being. In social studies, they will learn how to fill out tax returns, apply for tax benefits, and learn how to open their own business. In computer science, they will try to create a personal business plan using spreadsheets, learn about the protection of funds and personal data when shopping online. Where will all this knowledge come from for teachers of mathematics, informatics, and social studies? Mikhail Kotyukov: We have been holding advanced training courses for teachers at the RANEPA and the Higher School of Economics for a long time. By the way, the Days of Financial Literacy started in September in the form of open lessons throughout Russia, which are conducted by employees of the federal and regional ministries of finance and financial agencies, the Bank of Russia and many other experts to help teachers. We launched this project as part of the 220th anniversary of the Ministry of Finance. I was at a school in Cheboksary with students in grades 9-11. We bought a smartphone together – we figured out what was more profitable: saving up or borrowing it. Business and finance will now be taught at school and shown in textbooks. Photo: press service of the Ministry of Finance of the Russian Federation There are over 2,000 publications in the Federal List of textbooks, but there are none yet in terms of financial literacy. What books to study? Mikhail Kotyukov: There are textbooks. From 1st to 11th grade. Now preparations are underway for their inclusion in the federal list. The expertise of the Ministry of Education on many of them has been received, we are waiting for the registration of the order in the Ministry of Justice. These textbooks are accompanied by workbooks and manuals for teachers. There are also resources for parents. It’s good if, after coming home from class, the children could talk about the topic, because it is also urgent for parents. We want the child to ignite the family with the idea, for example, of family budget planning, if this has not yet been practiced in the family. And all the materials that I mentioned above – cartoons, educational programs, and so on – to help parents. Our task is that by 2030 any citizen, making a financial decision, be informed or be able to make a request and receive a prompt response or advice on how to behave in each specific situation. And the system of financial education, of course, allows and helps us to convey these “signals” in a targeted way. What about universities? After all, students also need to know the basics of economics? Mikhail Kotyukov: We work a lot with students. For specialized areas of undergraduate education, this has long been a part of educational programs. For all other areas there is a universal competence “financial literacy”, a skill that needs to be mastered. In universities, all this is also implemented through different disciplines. In addition, one cannot help but recall the Olympiads for schoolchildren and students on financial literacy. Parent question At what age can children be given pocket money? Mikhail Kotyukov: Children should be involved in financial matters as early as possible. But first of all, you need to understand why. After all, what is “give money”? First of all, this is to give the child the opportunity to try on the responsibility of choice, the responsibility of making a decision – how to spend it? And there is a difference – cash, paper, or non-cash, on the card. When you see that you are giving “live” money – this is one thing. If the amount is debited from the card – there is no feeling of spending, and the expense is perceived differently. When parents plan the family budget, let’s say they take out a loan for something, it’s not a bad idea to involve children as well. We have the following problem in our lessons: should a loan taken by a family be in the column “income” or “expense” in the family budget? Children often answer – “income”. But it’s not. This, of course, is an expense, because then you have to give your money back. Through such examples, we want to convey to the guys: the principle “measure seven times, cut once” in matters of finance is more important than anywhere else. Study Abroad: Career Do you want to do business? Do you dream of starting your own company one day? Studying business abroad will help you achieve this goal! Business and Management is one of the most popular areas among students who go to study in Europe, America and Asia. Such education is universal, relevant and in demand in any country in the world. In addition, a business education abroad is almost always a guarantee of a high salary. We at Hotcourses.ru want to tell you about the most popular and highly paid professions for business school graduates abroad. Accountant
Accountants help companies organize their finances, comply with laws, save money, and increase profits. They use the financial knowledge and skills they gained in college to make the right decisions about a company’s resources and investments. Accountants provide audit, advisory and tax planning services. They often move into senior positions in the finance department of their organization or client organizations. In addition, accountants are in high demand. Their services are used by a wide variety of clients, from small businesses to government and non-profit organizations. At business school, you can choose to major in accounting or study accounting as one of the subjects in your program. This specialization is available in all schools and departments of business, up to the MBA. Average salary: $71,550 Where to study : UNSW Sydney, University of Brighton, Southern Illinois University, Suffolk University, Auckland University of Technology Financial analyst
Financial analysts learn to assess the strengths and weaknesses of a business and analyze trends across industries. They use these skills to evaluate companies, industries and related investments of clients or employers. Financial analysts interpret financial statements, calculate ratios and other measures, and make investment and corporate resource allocation recommendations. A financial analyst can be either a full-time employee of one particular company or an independent specialist providing services to different clients. Financial analysts are already one of the most in-demand professions in the business world, and employment rates for financial analysts are expected to rise by another 5% by 2030. In many universities, business analytics can be chosen as a separate additional or main specialization. In doing so, you will study both general subjects such as business and management, as well as accounting, finance, economics and mathematics. Average salary: $81,590 Where study : Trent University, Hong Kong Baptist University (HKBU) School of Business, Dublin Business School, Stevens Institute of Technology, Ngee Ann Polytechnic Management Consultant
If you are a natural problem solver and would like to help others improve the way they do business, you may want to consider becoming a management consultant. This work is aimed at improving and developing the business, planning the future of the company, increasing revenue and increasing employee productivity. Management consultants usually work on several projects at the same time, so this job is suitable for those who like variety. The presence of specialized education is especially important for a management consultant, because you must not only thoroughly understand various aspects of doing business, but also gain effective skills in logical thinking and analysis, problem solving, teamwork, communications, collecting and systematizing information. Business education abroad provides all this knowledge. By the way, many management consultants get their own experience in management work, after which they enter the MBA to gain deeper knowledge and specialize in management consulting. This is not surprising, because consultants receive really high salaries, and the demand for their services by 2030 should increase by 11%. Average salary: $85,260 Where study : University of Bradford, Victoria University, St. Actuary
Another business profession that will be increasingly in demand in the future is the actuary. We are talking about specialists in insurance mathematics who are engaged in actuarial calculations. Thanks to their knowledge of economics and finance, they solve the problems of financial security, risk assessment and the development of mathematically sound insurance financial and investment projects. In addition, the actuary performs statistical analysis to determine the probabilities of risks and insured events, illnesses and deaths, damages from natural disasters, catastrophes, etc. Abroad, the profession of an actuary is one of the most demanded and highly paid. Actuaries work not only in the insurance and investment business, but also in companies in other industries. To work as an actuary, you must have a higher business education, excellent understanding of accounting, finance and economics, have skills in analytical writing, reporting and preparing presentations. You can get this knowledge both in standard business programs and in business school programs with a narrow specialization in actuarial business. With actuarial vacancies expected to increase by as much as 20% over the next 10 years, now is the time to study actuarial science! Average salary: $108,350 Where to study : Heriot-Watt University, Western Kentucky University, INTO University of East Anglia, Universita Cattolica del Sacro Cuore, University of Delaware Health administrator
It’s no secret that work in the field of medicine and health care is one of the most profitable abroad. The experience of recent years has shown that this work is not only important, but also very promising, because the healthcare industry around the world is actively developing and expanding. You don’t have to be a doctor to work in the medical field. Many business school graduates find themselves in administrative and managerial jobs in the healthcare industry. Many foreign business schools offer programs with a narrow specialization in health care or programs that involve the parallel study of business, health and medicine. In addition to studying the subjects listed above, students in these programs also develop the teamwork and communication skills needed in this area. Speaking of other professions, we mentioned that many of them will become more in demand in the coming years. So, among all professions, it is healthcare administrators who will have the best professional prospects. It is expected that the employment rate of health administrators will increase by 32%, the number of vacancies and salaries for professionals in this field will increase significantly. Average salary: $100,980 Where study : TAFE Queensland, University of Ottawa, Portland State University, Curtin University, University of British Columbia What else to work after business school?
Didn’t find a suitable option? Here are some more promising professions for business school graduates that will make good money: Would you like to learn more about studying business and management abroad? Download free brochures of foreign universities with cool business programs right now! Why study business abroad? All about getting an MBA degree abroad Why do we want to work? To earn money, or not so? Does salary matter? And then how to manage the money so that there is enough for everything and still left? There is no culture of dealing with money in society. School doesn’t teach it. And not every parent explains to their children how to deal with finances, because often they themselves do not know how to find a common language with them. Therefore, Work.ua raises this topic: in order for money to come into your life, you need to develop the right attitude towards it and adhere to certain rules for attracting them, which say this. There are many temptations in life. Think seven times every time whether or not to take another loan. The correct answer is “Don’t take it!”. Don’t buy what you can’t afford. To do this, you need to develop certain skills of control and containment. “Setting aside money is a compromise. You take a little away from your today to improve your tomorrow” , – Bodo Schaefer. You need to learn how to “pay yourself.” That is, to fix a certain part of the monthly income in personal “stabilization funds” or with the help of good habits: 1. Personal pension fund. Long-term deposit with interest capitalization. Here we allocate 5-7% of the monthly income. In the future, you will be very grateful to yourself, who 20 years ago made the decision to save for a comfortable old age. 2. Personal insurance fund. This is your fund to cover various contingencies. We allocate 10-15% of monthly income for it. 3. Habit “purse of greatness” or “piggy bank”. The principle of use is as follows: For example, you need to pay 400 conventional units of money. So, there should be 440 in the main wallet, of which you first take 40 and transfer them to your “greatness wallet” with the words: “I am rich! I am strong! I can!”. It is extremely important to support and praise yourself. We have to like habits. What if there are only 400 standard units of money? Either save 40 and buy for 360 if possible, or don’t buy. Another very important rule of money is to create assets. Assets in this sense are sources of permanent passive income. The more such sources you have, the more cash flow they will generate. Most common asset options: Money loves a count. Wages (and income in general) are less controllable than our expenses. Post your income and expenses daily. Analyze and optimize expense items. You can do this in Excel. But there are many programs and mobile applications to automate this process. As a conclusion, after optimization, you should start to budget and strictly adhere to it. The main and only rule is to spend money wisely. Resist the insidious temptations to buy a useless thing, fight laziness and do not miss great offers. With this approach, you do not have to rummage through the pockets of a winter jacket, hoping to find 50 hryvnia. It’s always nice though! A large number of wrong negative attitudes related to money, as well as habits programming for poverty, can be hardwired into your head. Your goal is to consciously replace them with positive, positive ones. It’s simple – for money to love you, you need to love it. This is also the rule of money! Everything happens in life: houses burn down, accidents happen, and so on. Do not waste time, insure yourself against the main risks. The more you give, the more you get – this law of the universe really works! It is ideal to give another 10% of your income for these purposes. But you can start with 1%. One must learn to sacrifice voluntarily and with a light heart. Including financial education. Indeed, everyone can learn to manage cash flows and properly invest their funds. And the sooner you start, the sooner the positive effect will come. A characteristic of many real millionaires is the lack of a cult of money. 1270
average compensation in 2020, $ thousand
730
Change, %
74
Compensation (including monetary bonus) in 2021, min/Mox , $ thousand
230-8000
Fixed part of compensation (salary) in 2021, min/max, $ thousand
150-3000
Mredar The compensation market in 2021, $ thousand
910 910
average compensation in 2020, $ thousand
720
Change, %
26
Compensation (including cash bonus) in 2021, min/max, $ thous.
2000
Average compensation in 2021, $ thousand
320
Average compensation average in 2020, $ 9 thousand thousand thousand thousand0020
330
Change, %
-3
Compensation (including cash bonus) in 2021, min/Max, $ thousand
87-3000
Comed part of compensation (salary) In 2021, min/Max, $ thousand
82-600
Average compensation in 2021 in 2021, $ thousand
520 9,0004 9,000
average compensation in the market in 2020, $ thousand
460
Change, %
13
Compensation (including monetary bonus) in 2021, min/max, $
130-1500
Fixed part of compensation (salary) in 2021, min/max, $ thousand
120-1000
M.Art.
5. Investment banks (TOP-15)
Average compensation in 2021, $ thousand
1580
The average compensation in the market in 2020, in 2020, in 2020 $ thousand
1030
Change, %
53
Compensation (including cash bonus) in 2021, min/Max, $ millennium
500-15000
Fixed part of compensation (salary) in 2021, min/max, $ thous. thousand
770
average compensation in 2020, $ thousand
700
Change, %
10
Compensation (including monetary bonus) in 2021, min, min, min, min, min. /max, $ thousand
160-4000
Fixed part of compensation (salary) in 2021, min/max, $ thousand
120-580
Medium for the market for the market Compensation in 2021, $ thousand
620
average compensation in 2020, $ thousand
570
Change, %
9
Compensation (including cash bonus) in 2021, min/max, $ thousand
150-3000
Fixed part of compensation (salary) in 2021, min/max, $ thousand
average compensation in 2021, $ thousand
550
average compensation in 2020, $ 900 thousand thousand thousand thousand0019 510
Change, %
8
Compensation (including cash bonus) in 2021, min/Max, $ millennium
210-1800
Fixed part of compensation (salary) in 2021 in 2021 in 2021 year, min/max, $ thousand
100-800
average compensation in 2021, $ thousand
650
The average compensation in the market in 2020, $ thousand
470
Change, %
38
Compensation (including monetary bonus) in 2021, min/Max, $ thousand.
The fixed part of compensation (salary) in 2021, min/ max, $ thousand
150-1000
average compensation in the market in 2021, $ thousand
480
average compensation in 2020, $ thousand
270
Channel, %
78
Compensation (including cash bonus) in 2021, min/max, $ thous. 500
average compensation in 2021, $ thousand
360
Average compensation in 2020 in 2020, $ 900
420
Change, %
-14
Compensation (including cash bonus) in 2021, min/max, $ thous. max, $ thousand
100-1000
Average compensation in 2021, $ thousand
250
The average compensation in the market in 2020, in 2020, in 2020, in 2020, in 2020.
$ thousand
230
Change, %
Compensation (including cash bonus) in 2021, min/Max, $ thousand
100-800
The fixed part of the compensation (salary) in 2021, min/Max, $ thousand
100-300
average compensation in 2021, $
370
average compensation in the market in 2020, $ thousand
410
Change, %
-10
Compensation (including monetary bonus) in 2021, min/Muccan $ thousand
150-1200
Fixed part of compensation (salary) in 2021, min/max, $ thous. , Recruitment boutique S.M.Art.
6. Retail chains (revenue from $500 million)
Market average compensation in 2021, $ thousand
1460
The average compensation in the market in 2020, $ thousand
870
Change, %
68
Compensation (including monetary bonus) in 2021, min/Max, $ thousand.
380-8000
The fixed part of compensation (salary) in 2021, min/max, $ thousand
260-1200
Medium Medium for the market compensation in the market compensation 2021, $ thousand
620
average compensation in 2020, $ thousand
470
Change, %
32
Compensation (including monetary bonus) in 2021, min/Mox , $ thous.
200-1500
Fixed part of compensation (salary) in 2021, min/max, $ thous.0004
average compensation in the market in 2021, $ thousand
500
average compensation in 2020, $ thousand
450
Change, %
11
Compensation (including cash bonus) in 2021, min/max, $ thous. -500
average compensation in 2021, $ thousand
370
average compensation in 2020, $ 900
Change, %
12
Compensation (including cash bonus) in 2021, min/Max, $ thousand
150-600
Comeded part of compensation (salary) in 2021, min, min.
/max, $ thousand
100-300
average compensation in 2021, $ thousand
350
Average compensation average in 2020, $ 7 .
270
Change, %
30
Compensation (including cash bonus) in 2021, min/Max, $ thousand
110-330
Fixed part of compensation (salary) in 2021, min/max, $ thousand
100-240
Average compensation in 2021, $ thousand
540
The average compensation in the market in 2020, $ .
430
Change, %
26
Compensation (including cash bonus) in 2021, min/Max, $ thousand
160-900
Fixed part of compensation (salary) in 2021, min/max, $ thousand
100-500
Average compensation in 2021, $ thousand
Medium for the market compensation in 2020, compensation in 2020, compensation in 2020, compensation in 2020.
$ thousand
270
Change, %
15
Compensation (including cash bonus) in 2021, min/Max, $ millennium
120-1000
Fixed part of compensation (salary) in 2021, min/Max, $ thousand
100-500
Average compensation in 2021, $ thousand
380
average compensation in the market in 2020, $ thousand
300
Change, %
27
Compensation (including cash bonus) in 2021, min/MAKS, mines/MIKS, mines/MUSKI $ thousand
140-400
Fixed part of compensation (salary) in 2021, min/max, $ thousand
80-215
7. Transport companies (revenue from $300 million)
Market average compensation in 2021, $ thousand
1360
The average compensation in the market in 2020, $ thousand
820
Change, %
66
Compensation (including monetary bonus) in 2021, min/Max, $ thousand.
350-2000
The fixed part of compensation (salary) in 2021, min/max, $ thousand
170-1000
MPEC 2021, $ thousand
590
average compensation in 2020, $ thousand
520
Change, %
13
Compensation (including monetary bonus) in 2021, min/Maca , $ thousand
300-1300
Fixed part of compensation (salary) in 2021, min/max, $ thousand
140-600
average compensation in the market in 2021, $ thousand
530
average compensation in 2020, $ thousand
470
Change, %
13
Compensation (including cash bonus) in 2021, min/max, $ thousand
350-1100
Fixed part of compensation (salary) in 2021, min/max, $ thousand
average compensation in 2021, $ thousand
520
Average compensation in 2020, $ millennium 900 900
Change, %
68
Compensation (including cash bonus) in 2021, min/max, $ thous.
$ thousand
150-450
average compensation in 2021, $ thousand
280
Medium for the market compensation in 2020, compensation in 2020, compensation in 2020, compensation in 2020. $ thousand
210
Change, %
33
Compensation (including cash bonus) in 2021, min/Max, $ millennium
150-650
The fixed part of the compensation (salary) in 2021, min/max, $ thousand
90-320
average compensation in 2021, $
330
average compensation in the market in 2020, $ thousand
230
Change, %
43
Compensation (including cash bonus) in 2021, min/Max, $, $ thousand
205-1600
Fixed part of compensation (salary) in 2021, min/max, $ thous. , Recruitment boutique S.M.Art.
8. Insurance companies (collections from $750 million)
Market average compensation in 2021, $ thousand
930
The average compensation in the market in 2020, $ thousand
610
Change, %
52
Compensation (including monetary bonus) in 2021, min/Max, $ thousand.
390-3900
Fixed part of compensation (salary) in 2021, min/max, $ thousand
1
1
Medical 2021, $ thousand
340
average compensation in 2020, $ thousand
280
Change, %
21
Compensation (including monetary bonus) in 2021, min/Mac , $ thousand
170-800
The fixed part of the compensation (salary) in 2021, min/Max, $ thousand
90-550
average compensation in the market in 2021, $ thousand
280
average compensation in 2020, $ millennium
260
Change, %
8
Compensation (including cash bonus) in 2021, min/max, $ thousand
110-700
Fixed part of compensation (salary) in 2021, min/max, $ thousand
average compensation in 2021, $ thousand
210
Average compensation in 2020, $ thousand
220
Change, %
-5
Compensation (including cash bonus) in 2021, min/max, $ thous.
max, $ thousand
70-400
Average compensation in 2021, $ thousand
Medium for compensation in 2020 , $ thousand
240
Change, %
4
Compensation (including cash bonus) in 2021, min/max, $ thousand
110-702 1100025
The fixed part of compensation (salary) in 2021, min/max, $ thousand
80-480
The average compensation in the market in 2021, $ who, $ .
220
Average compensation in 2020, $ thousand
220
Change, %
0
Compensation (including monetary bonus) in 2021, min/ mines/ mines/ mines max, $ thousand
110-600
Fixed part of compensation (salary) in 2021, min/max, $ thousand
100-300
Medium for Middle for Middle Medium The compensation market in 2021, $ thousand
180
average compensation in 2020, $ thousand
160
Change, %
13
Compensation (including cash bonus) in 2021, min/max, $ ths.
Average compensation average in 2021, $ thousand
220
Average compensation in 2020, $
Change, %
5
Compensation (including cash bonus) in 2021, min/Max, $ thousand
100-600
The fixed part of compensation (salary) in 2021, min/max, $ thousand
110-300
And this means that top managers in Russian banks can receive compensation for their work no worse than in Western ones.
The more transitions within the industry, the greater the total remuneration, since companies are forced to “outbid” leaders from each other,” says Zagieva. According to her, this situation is typical of times of crisis, when “the shortcomings of current leaders become especially noticeable and long-awaited personnel decisions are being implemented.”
At the same time, the transport and logistics sector itself is unfamiliar to the Vikings from other industries, so the increase in wages here is, among other things, a payment for the risk of moving into a new sector.”
9. Construction/development companies (assets over $1bn)
Market average compensation in 2021, $0,000
790
average compensation in the market in 2020, $ thousand
670
Change, %
18
Compensation (including cash bonus) in 2021, min/max, $ thousand
320-320- 6000
The fixed part of compensation (salary) in 2021, min/max, $ thousand
160-3000
Average compensation average in 2021 in 2021 year, $ thousand
390
average compensation in 2020, $ thousand
430
Change, %
-9
Compensation (including monetary bonus) in 2021, min/ mines/ mines/ mines/ mines max, $ thousand
150-1700
Fixed part of compensation (salary) in 2021, min/max, $ thousand
130-1500
average compensation in the market in 2021, $ thousand
340
average compensation in 2020, $ thousand
360
Channel, %
-6-6
Compensation (including cash bonus) in 2021, min/max, $ thous.
-1000
Average compensation average in 2021, $ thousand
230
Average compensation average in 2020, $ thousand thousand thousand thousand thousand thousand thousand
210
Change, %
10
Compensation (including cash bonus) in 2021, min/Max, $ thousand
100-500
Fixed part of compensation (salary) in 2021 year, min/max, $ thousand
80-400
Average compensation in 2021, $ thousand
330
MPECTIONALY Compensation in 2020, Compensation in 2020. $ thousand
310
Change, %
6
Compensation (including cash bonus) in 2021, min/Max, $ millennium
220-1500
Counted part of compensation (fixed part of compensation ( salary) in 2021, min/max, $ thousand
120-1000
Average compensation in 2021, $ millennium
340
Medium for the market in the market in 2020.
$ thousand
270
Change, %
26
Compensation (including cash bonus) in 2021, min/Max, $ millennium
250-600
Fixed part of compensation (salary) in 2021, min/max, $ thous.
240
average compensation in 2020, $ thousand
220
Change, %
Compensation (including cash bonus) in 2021, min/M. , $ thousand
200-150
Fixed part of compensation (salary) in 2021, min/max, $ thousand
90-300
Medium for the market compensation for the market compensation In 2021, $ thousand
290
average compensation in 2020, $ thousand
280
Change, %
4
Compensation (including cash bonus) in 2021, min/max, $ ths.
10. Consumer goods manufacturers ($500 million in revenue)
average compensation in the market in 2021, $ thousand
560
average compensation in 2020, $ thousand
560
Change, %
0
9
Compensation (including cash bonus) in 2021, min/max, $ thous.
240-2000
Fixed part of compensation (salary) in 2021, min/max, $ thous.
Average compensation average in 2021, $ thousand
330
Average compensation in 2020, $ thousand
, %
18
Compensation (including cash bonus) in 2021, min/max, $ thous.
thousand
130-300
average compensation in 2021, $ thousand
300
The average compensation in 2020, $ .
300
Change, %
0
Compensation (including cash bonus) in 2021, min/Max, $ thousand
85-650
The fixed part of compensation (salary) in 2021, min/max, $ thousand
70-300
average compensation in 2021, $ millennia
300
MP for the market compensation in 2020. $ thousand
300
Change, %
0
Compensation (including cash bonus) in 2021, min/Max, $ millennium
130-600
Counted part of the compensation ( salary) in 2021, min/max, $ thousand
120-300
average compensation in 2021, $ thousand
260
The average compensation in the market in 2020, $
240
Change, %
8
Compensation (including cash bonus) in 2021, min/Max, $ thousand
120-450
Fixed part of compensation (salary) in 2021, min/max, $ thousand
110-270
average compensation in 2021, $ thousand
Medium for the market compensation in 2020, compensation in 2020, compensation in 2020, compensation in 2020, compensation in 2020 $ thousand
320
Change, %
-16
Compensation (including cash bonus) in 2021, min/Max, $ millennium
110-400
Fixed part of compensation (salary) in 2021, min/Max, $ thousand
100-220
Average compensation in 2021, $ thousand
210
average compensation in the market in 2020, $ thousand
270
Change, %
-22
Compensation (including monetary bonus) in 2021, min/Maxim , $ thousand
90-386
Fixed part of compensation (salary) in 2021, min/max, $ thous. , Recruitment boutique S.M.Art.
11. Agricultural holdings (revenue from $400 million)
Market average compensation in 2021, $ thousand
20
average compensation in the market in 2020, $ thousand
510
Change, %
-10
Compensation (including monetary bonus) in 2021, min/Max, $ thousand.
240-1300
The fixed part of compensation (salary) in 2021, min/max, $ thousand
130-600
2021, $ thousand
220
average compensation in 2020, $ thousand
240
Change, %
-8
Compensation (including monetary bonus) in 2021, min/ mines/ mines/ mines Max, $ thousand
110-500
Fixed part of the compensation (salary) in 2021, min/max, $ thousand
110-300
average compensation in the market in 2021, $ thousand
230
average compensation in 2020, $ thousand
230
Change, %
0
Compensation (including cash bonus) in 2021, min/max, $ thousand
180-400
Fixed part of compensation (salary) in 2021, min/max, $ thousand
average compensation in 2021, $ thousand
150
average compensation in 2020, $ 900
160
Change, %
-6
Compensation (including cash bonus) in 2021, min/max, $ thous.
/max, $ thousand
72-180
average compensation in 2021, $ thousand
1904
Medium for the market compensation in 2020, $
200
Change, %
-5
Compensation (including cash bonus) in 2021, min/max, $ thous.0019 Fixed part of compensation (salary) in 2021, min/max, $ thousand
50-200
12. Pharmaceutical companies (revenue from $ 300 million)
Average compensation in 2021, $ thousand
440 9000
Market average compensation in 2020, $ thousand
410
Change, %
7
Compensation (including cash bonus)9 in 2021, min/max, $ thousand
The fixed part of compensation (salary) in 2021, min/Max, $ thousand
120-500
Average compensation in 2021, $ thousand thousand thousand thousand thousand .
300
average compensation in 2020, $ thousand
310
Change, %
-3
Compensation (including monetary bonus) in 2021, min/ mines/ mines/ mines/ mines. Max, $ thousand
120-550
Fixed part of compensation (salary) in 2021, min/max, $ thousand
100-380
average compensation in the market in 2021, $ thousand
250
average compensation in 2020, $ thousand
230
Compensation (including cash bonus) in 2021, min/max, $ ths.
Average compensation average in 2021, $ thousand
290
Average compensation in 2020, $ thousand
9001 %
7
Compensation (including cash bonus) in 2021, min/max, $ thous.
.
100-300
Average compensation in 2021, $ thousand
1904
The average of the market compensation in 2020, in 2020, compensation in 2020, in 2020. $ thousand
170
Change, %
12
Compensation (including cash bonus) in 2021, min/Max, $ thousand
80-380
The fixed part of the compensation (salary) in 2021, min/Max, $ thousand
80-210
average compensation in 2021, $
190
average compensation in the market in 2020, $ thousand
190
Change, %
0
Compensation (including monetary bonus) in 2021, min/Max, $ thousand
75-700
Fixed part of compensation (salary) in 2021, min/max, $ thous. , Recruitment boutique S.M.Art.
How we calculated
The amount of compensation in the table is given before tax.
how much startup founders should receive — T&P
Business founders are often free to set their own salaries. But how to determine the optimal amount? On the one hand, I want financial independence, on the other hand, a high salary can affect the development of the company. How much to pay employees so that they do not go to competitors and work with maximum efficiency? T&P remembered how well-known business experts answered these questions and translated the most useful tips.
John Greathouse,
They know that every dollar they put in their pocket—especially at the start of a company’s journey—will weaken the company.
Aaron Harris,
Thinking through your salary, do not forget about your main expenses – food, apartment, insurance. There are two key questions to ask yourself.
How much do founders pay themselves?
But the majority of startups surveyed considered this amount to be excessive. The optimal salary was from $50,000 to $75,000.
How much to pay employees
Ashish Advani,
Other non-monetary incentives—parties, corporate holidays and vacations, and so on—actually cost a lot more than a pay raise would. Despite the fact that employees are very fond of cocktail parties, soberly assess whether you can actually afford them now.
Tags
0020
Broker
145,000 ₽
Intermediary services in the field of insurance, real estate, finance – the main activity of the broker. Also, he is engaged in analytics and selection of goods and services suitable for the client. A successful job requires higher education.
Accountant
100,000 ₽
An accountant is a specialist in the financial activities of an enterprise who maintains documentation on taxes, employees and settlements with partners. The profession is in demand in Russia and requires higher education.
Banker
190,000 ₽
A banker’s duties depend on the position held. This is mainly work with clients: servicing, advising on various issues, as well as analytical activities, planning, forecasting
Credit officer
40,000 ₽
assessment of credit risk, study of information provided by a potential borrower about his income and business.
Loan officer
120,000 ₽
The bank’s profit largely depends on the professionalism of loan officers who develop new lending schemes, train loan officers, so this profession is suitable for responsible people with an analytical mindset.
Tax inspector
65,000 ₽
Tax inspector is a public service specialist who controls the payment of taxes by citizens and organizations. This profession is considered prestigious, and also provides some privileges and benefits to civil servants.
Actuary
(not specified)
An actuary is a specialist in insurance mathematics who owns the theory of actuarial calculations.
Collector
65,000 ₽
The profession of a collector implies a high financial responsibility and risk to life and health, and, accordingly, a decent salary.
CFO
200,000 ₽
Money should make money, and this is the task that the CFO takes on.
Underwriter
70,000 ₽
Today, underwriting is one of the key business processes in any insurance company, because the underwriting policy determines whether the organization will make a profit or suffer losses.
Bank cashier-operator
37,000 ₽
Stress resistance, responsibility, tact, attentiveness and quick response are the main qualities of a cashier.
Currency teller
40,000 ₽
A foreign exchange teller must have remarkable perseverance and the ability to do monotonous work.
IFRS specialist
230,000 ₽
In the list of requirements that employers put forward to applicants, knowledge of a foreign language, usually English, is most often in the first place.
International economist
(not specified)
The profession of an international economist has always been considered an elite, highly paid and prestigious profession.
IPO specialist
100,000 ₽
The specialist must understand economics, financial reporting, and know the exchange market. To work in the international market – to have fluent English.
Financial advisor
150,000 ₽
A financial advisor comes to the rescue when you need to make some strategic decisions, assess the financial situation or choose the best investment option.
Economist
120,000 ₽
The profession “economist” is in high demand on the labor market. The versatility of the profession allows you to find work in any field of the economy. With special economic knowledge, you can safely open your own business without the risk of becoming unprofitable.
Collector (work with debts)
120,000 ₽
The collector represents the interests of the creditor when working with the debtor.
This is a job for stress-resistant, sociable people who are well versed in finance and jurisprudence.
Currency trader
200,000 ₽
Requires a good memory, the ability to concentrate and distribute attention, stress resistance.
Insurance agent
110,000 ₽
An insurance agent must have a good knowledge of insurance legislation, the types and conditions of insurance provided by his insurance company, and be able to draw up insurance documents.
Auditor
45,000 ₽
Audit can be both internal and external. Internal is typical for large organizations with branches. External – for small companies that attract specialists from audit firms.
Financial project coordinator
100,000 ₽
Such a specialist needs to be organized, responsible, attentive, diligent, work with numbers requires these qualities like no other.
Offshore specialist
130,000 ₽
Offshore specialists are often called “professionals on the verge of the law”.
Calypso system maintainer
(not assigned)
The Calypso system enables real-time monitoring of a company’s business across all assets and functions.
Clearing specialist
250,000 ₽
Clearing is a form of non-cash settlements in which obligations and claims are offset between organizations for goods, securities or services sold to each other.
Budget Specialist
150,000 ₽
Draws up a budget for a given period, monitors its implementation, analyzes various data, keeps records
Financial analyst
120,000 ₽
Being a financial analyst means being able to perfectly navigate the market and be able to make the most profitable decisions.
The profession is suitable for diligent people with good concentration and a penchant for mathematics.
Cashier
75,000 ₽
A cashier is a person responsible for financial transactions. The activity does not require complex professional knowledge, you can start working after the 11th grade, after going through a quick training.
Financier
100,000 ₽
Financier is a profession for people with pronounced analytical skills who are not afraid of responsibility. She needs a higher education and a good professional flair.
Loan manager
200,000 ₽
Loan manager helps to find a loan, checks solvency, draws up documents, accompanies the transaction. This profession provides an excellent start for career growth in the financial sector.
Appraiser
100,000 ₽
Appraiser is a common but highly demanded profession.
Specialists evaluate apartments, private houses, businesses, intellectual property and much more. The term of appraiser training exceeds 5-6 years.
Financial economist
70,000 ₽
Financial economist is a highly paid profession related to financial reporting, investment and analytics. Work in this area requires higher education, continuous professional development.
* Salary as of September 2022, data taken from the website
hh.ru.
The advantage of a “white” salary and maintaining the family budget: Deputy Minister of Finance of the Russian Federation Mikhail Kotyukov told what schoolchildren will be taught in financial literacy lessons
But it is mandatory – for students 1-9classes. Together with the Ministry of Education, the Ministry of Finance of the Russian Federation is developing finance curricula for schoolchildren. Deputy Finance Minister Mikhail Kotyukov told Rossiyskaya Gazeta about what schoolchildren learn and why it is important.
Matroskin-financier
Social, medical security, the formation of a credit history for the bank – in all these aspects, of course, the “white” salary plays a key role.
Therefore, together with Soyuzmultfilm, we will continue to create new series. Now our dog Sharik is talking about a credit card: what it is, how to use it, how not to become a victim of scammers.
Five according to the business plan
Optional. But we understand that it is physically impossible to conduct a large-scale retraining of all school teachers in the country at two universities. Each subject has an institute for the development of education or an institute for advanced training. At RANEPA and HSE, we will train the employees of these institutions, and they, having returned to the region, will help local teachers “enter” the subject. In general, by 2030, about 250,000 teachers need to be trained.
They determined what a “clean” salary is and what its benefits are.
Calculated with school
They give participants additional points for admission. Now we are working on the opportunity to make the All-Russian Olympiad in financial literacy, so that the winners and prize-winners have additional advantages for entering any university in this area. But so far, not everything is simple – there is no such separate subject “finiteness”. Looking for options.
Business professions: how to work abroad?
Thus, in a business school, you not only master the profession of an accountant, but also gain a broad understanding of the financial and business sector.
In addition, you will be able to specialize and work with companies in a particular industry such as healthcare, finance, education, etc.
Lawrence College, Oklahoma State University, National University of Ireland
For this, it is important to have knowledge in the field of accounting, budgeting, human resources, marketing, management, commercial law, ethics and information technology. Business school students study all these subjects.
How to handle money so as not to live from paycheck to paycheck — Work.
ua
An article for those who have ever held money in their hands. Check if you know how to attract, save and increase money.
Do not get into debt
When you put your personal finances under control, you will have a very nice bonus – make expensive purchases without loans. With own funds. Not a bad incentive, right?
Save money
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Create additional sources of income
Count your money
You need to learn how to count all your personal or family income and expenses. If you want to take control of your finances and create conditions for a permanent increase in wealth, you have to do it.
Get rid of negative financial attitudes
They can be caused by upbringing, your character traits, negative personal experiences.
Do not skimp on insurance
Give some of your money to charity
Invest in your development and education
Treat money as a tool, not the main goal