If you want to work with money as a profession by looking through hedge fund jobs, accounting jobs and other careers in finance during your job hunt, you may find yourself earning a very big paycheck. People love working in finance for many reasons – because it’s competitive and high-pressure, because it allows employees to work with with culturally relevant individuals, and it lets workers help other individuals by improving their economic standing. However, there’s another major benefit offered to individuals when they choose to work in the finance sector – it affords them a great opportunity to achieve salaries well above the national norm.
Yet what are the highest paying jobs in the finance sector? Not everyone is aware. Listen below are some of the highest-level, highest paying positions available to workers within the field. If you accept any of these positions, your talents will be tested on a daily basis. There’s a major trade-off that comes with working in the finance field: you’ll be working long hours, and you’ll constantly have to defend you expertise. Employee turn-over rates are high within the field. Yet if you can establish yourself, you’ll be rewarded with some of the largest paychecks available to workers within any industry.
Are you cut out to work any of these jobs? Earning the interviews and offers will be a challenge – but actually completing the assignments attached to each of the following job titles is even harder. If you work your way up the corporate ladder far enough at your place of employment, you may be able to find out if you’re up to the task.
Chief risk officer
Steve Potter, a recruiter for provide brief description Odgers Berndtson, recently told Business Insider that chief risk officers receive some of the highest salaries in the entire finance industry. In fact, he noted that chief risk officers have become very in-demand since the crash of 2008, and as such are receiving higher paydays than the position has ever commanded before.
Chief risk officer jobs in the finance industry can pay up to seven figures, Potter told Business Insider. He noted that some individuals working this position can even bring in up to $3 million on an annual basis. Potter said that a CRO is likely to have come from the trading side of the industry, and has experience with the fixed-income trading route. However, that’s not enough: he also said the ideal candidate has to have demonstrated multifaceted skills in a number of areas, and be able to understand complex products in terms of risk and reward analysis.
Head of research at a hedge fund
At a hedge fund, the head of research is responsible for digging up data and performing analysis’ that will help the firm to more wisely invest their money. As a result, the people working this position are extremely important to the success of the overall firm. Potter told Business Insider that, as a result, individuals working head of research hedge fund jobs may find themselves making between $2 and $3 million dollars yearly – with some making many multiples of that, according to the report.
However, the payout depends entirely on the success of the fund, illustrating that there’s no easy way to get a huge paycheck in the finance industry – you need to earn it with your performance.
Chief trader at a hedge fund
The chief trader at a hedge fund also has a huge responsibility. Glenn Stevens, also of Odgers Berndtson, told Business Insider that individuals working this job could find themselves being paid anywhere from $1 to $20 million dollars.
“More sales and trading are working their way into hedge funds,” Stevens told the news outlet. “Hedge funds and private equity are the highest payers in the financial universe no doubt.”
Financial managers don’t make quite as much as the individuals working the other positions here: according to the U.S. & World News Report, the median salary for this career is slightly more than $107,000. However, this may be the perfect job for an individual who wants a high salary, but doesn’t want to take on the responsibilities of accepting an executive position.
Financial managers oversee the finances of corporations, agencies and all other organizations. They need to make sure that the organizations they represent comply with various laws and regulations – meaning these workers often put in long hours, and are forced to complete tasks with an extreme attention to detail.
Still, if you’re hoping to find a well-paid finance career without having to take on the responsibilities of being an executive, working as a financial manager may be the career for you. After all, it does fulfill the most important factor of a career in finance: it provides workers with an extremely healthy salary.