Whether you graduate with your MSF or MBA, a high-paying position in the financial sector is the principle reason many candidates pursue a master’s degree in finance. There are myriad paths to the most lucrative jobs in the finance industry. We’ll discuss five of the most lucrative jobs in finance, nearly all of which can earn in excess of one million dollars annually.
Related Resource: 20 Best Online Master of Finance Degree Programs
Chief Risk Officer
This lucrative (but also sought-after) position involves analyzing risks to the company. This involves assessing risks of not only financial losses, but risks of:
- decreased reputation
- legal compliance
- business strategy, among others
The position of CRO is becoming increasingly important in the financial industry. This position works closely alongside that of the Chief Compliance Officer, which will also be discussed. A CRO may also be asked to assess tax, insurance, and information risks to ensure that the company stays as safe as possible:
- legally
- sociopolitically
- financially
Chief Compliance Officer
The Chief Compliance Officer is also becoming a much more common position among financial firms. This is mainly due to all the new financial sector regulations that were introduced after the Recession. The CCO’s duty is to ensure that the firm is in compliance with all regulations, laws, and ordinances relating to its practice. Many CCOs have degrees in law and accounting. They’re responsible for:
- overseeing internal audits
- drafting and instituting policies
- best practices to ensure compliance with law and regulations applicable to the finance industry
- working alongside the CRO to minimize risk to the company
Stock Broker
For those willing to work long hours on Wall Street, the position of stock broker remains one of the most lucrative in the financial industry, particularly for recent graduates. Stock brokers working at reputable and long-standing firms can earn six figures – or even more. Stock brokerage is an excellent starting position for graduates of finance. It can also act as a springboard into even more lucrative positions.
Hedge Fund Trader
This is possibly the most lucrative position on this list. The hedge fund trader can earn anywhere from two to 15 million dollars per year – or even more, depending on performance. This position requires not only a credential in finance, but dedication and discipline. It also takes an intensive study of, and networking in, the hedge fund industry. For those who are willing to apply themselves consistently to that goal, the dollars that can be realized are more than worth the effort.
Head of Research
The role of Head of Research at hedge funds is absolutely indispensable. It involves investment research and intensive data analysis. The Head of Research can make into the tens of millions per year depending on their individual performance and the performance of the fund. This position is responsible for assisting investors in making wise choices when it comes to where to invest their money. This is critical to the hedge fund’s success, as hedge fund investors are entrusting often many millions of dollars to the firm.
Conclusion
Each of these positions requires:
- many months and years of hard work
- very often a degree in finance from a top university
- long hours at the office
However, for dedicated and hardworking financial professionals, the amount of money that can be earned through these positions will ensure financial stability – something of indispensable value.
Related Resources:
