Corporate finance tends to follow the same boom-and-bust pattern as the broader stock market and consumer economy, since corporations hire more people when they’re performing a bit better compared to the market. When those same companies go through hard times, it’s the finance professionals who often suffer the worst at the hands of job cuts and pink slips. With that saId, the Bureau of Labor and Statistics estimates that the profession will grow by a somewhat healthy rate of 5 percent over the next several years. That number is lowered somewhat by an economy that has remained uncertain in its future prospects.
Salary numbers in this field are healthy, even if growth is slower than positions in traditional accounting and forensic services. Pay varies quite a bit based on the size of the company and the experience level of the worker doing the job, so those factors are important to keep in mind when looking at salary averages across the board.
Corporate Finance Salaries: A Breakdown According to Experience
Growth and salaries within the broader corporate finance occupation are tracked by a number of organizations, including the Bureau of Labor and Statistics, Salary.com, and the Journal of Accountancy. All three of these organizations ten to roughly agree on salary numbers pertaining to experience levels across corporations of all sizes.
For those who are entirely new to the profession, the salaries paid will be the lowest of the bunch. That’s to be expected, however. Entry level candidates who have less than one year of experience can expect to earn a starting salary of between $43,000 per year and $55,000 per year, based largely on the size of the company that hires them and the nature of their undergraduate degree in a related field. Experience via internships may also play a role in first-year compensation.
Junior-level corporate finance professionals, defined as those with between one and three years of experience in the profession, can expect to earn a bit more per year. These individuals typically take home between $51,000 per year and $68,750 per year based on the size of the company they work for and the number of years of experience that they bring to the table.
Senior-level employees in this trade make quite a bit more, though not as much as management. Those with between 3 and 20 years of experience in corporate finance can expect to earn an annual salary of between $66,500 and $85,000. This level of compensation depends, once again, on how experienced the individual is and how large the company is that employs their services.
Corporate finance managers easily make the highest salary in the broader occupation, with entry-level managers at smaller companies earning $78,250 per year while those at larger corporations start in the six-figures at about $102,000 per year. This is a pretty impressive number, and it only increases as managers gain more experience on the job.
Corporate Finance is a Great Choice for Dedicated Accountants and Managers
Managing a company’s finances is no easy task, and the compensation given to professionals at all levels in this industry reflects that fact. While entry-level salaries are low, pay raises are robust and demand remains stable. That’s good news even for those aspiring to management, where salaries are higher and the benefits exceed virtually all other positions in this segment of corporate governance.
