Finance
This career area revolves around managing financial assets and tracking financial records. You can manage a million-dollar portfolio or work with people in debt to get them living on a budget. Careers span from Loan Officers to Accountants to Investment Fund Managers.
- This area employs around 4,720,200 people, about 3.1% of the entire workforce.
- By 2030, the projected number of jobs is set to increase by about 6.12%.
- The mean wage is about $33.17 an hour or $69,003 annually.
There are 5 main areas or pathways to consider in Finance-
- Accounting – Focuses on recording and analyzing financial information and business transactions like payroll, billing and bookkeeping.
- Banking Services – Focuses on everyday cash management for individuals including depositing and withdrawing money, paying bills, and issuing mortgages and other loans.
- Business Finance – Focuses on managing an organizations money, budget, taxes, and investments. Including policy and strategy development for the organizations future state.
- Insurance – Focuses on providing insurance to companies and organizations that protects people, businesses, and assets from risk and financial loss.
- Securities and Investments – Focuses on managing investments like stocks and bonds, business assets, and overall financial planning.
Industries In Finance –
- Commercial Banking and Savings – Comprised of organizations that accept deposits, cash checks, and other general banking functions.
- Credit Intermediation – Comprised of organizations that lend money and provide related services that support loans and borrowing.
- Funds, Trusts, and Other Financial Vehicles – Comprised of organizations or legal entities that pool assets and securities on behalf of shareholders or beneficiaries.
- Insurance Carriers – Comprised of organizations that underwrite or assume risk by selling insurance and benefit policies.
- Lessors of Nonfinancial Intangible Assets – Comprised of organizations that handle the regulation and issuing of patents, trademarks and other identifying rights.
- Management of Companies and Enterprises – Comprised of organizations that manage or have established equity in other companies.
- Monetary Authorities, Central Banks – Comprised of organizations that manage the nation’s money supply, issues currency and processes deposits from other banks.
- Real Estate – Comprised of organizations that handle the renting, buying selling, and leasing of real estate and properties.
- Securities, Commodity Contracts, and Other Financial Investments – Comprised of organizations that issue and exchange assets, securities, and commodities.
Careers In Finance –
| Job Title | Median Hourly Wage | Projected Growth By 2030 | Minimum Education Required | Average Years Of School & Training | Average Debt From School & Training |
|---|---|---|---|---|---|
| Accountants and Auditors | $39.26 | 1.6% | Bachelor’s Degree | 4 to 5 Years | -$25,000 |
| Actuaries | $59.22 | 13.7% | Bachelor’s Degree | 4 to 5 Years | -$25,000 |
| Bill and Account Collectors | $19.53 | 7.2% | High School Diploma or Equivalent | None | None |
| Billing and Posting Clerks | $20.00 | -3.9% | High School Diploma or Equivalent | None | None |
| Bookkeeping, Accounting, and Auditing Clerks | $21.20 | -24.9% | Some College, No Degree | 1 to 2 Years | -$10,000 |
| Brokerage Clerks | $28.11 | -18.4% | High School Diploma or Equivalent | None | None |
| Budget Analysts | $39.75 | 7.0% | Bachelor’s Degree | 4 to 5 Years | -$25,000 |
| Claims Adjusters, Examiners, and Investigators | $33.97 | 13.7% | High School Diploma or Equivalent | None | None |
| Credit Analysts | $41.43 | 33.3% | Bachelor’s Degree | 4 to 5 Years | -$25,000 |
| Credit Authorizers, Checkers, and Clerks | $20.95 | 7.4% | High School Diploma or Equivalent | None | None |
| Credit Counselors | $24.01 | 5.4% | Bachelor’s Degree | 4 to 5 Years | -$25,000 |
| Financial and Investment Analysts, Financial Risk Specialists, and Financial Specialists | $46.46 | 9.2% | Bachelor’s Degree | 4 to 5 Years | -$25,000 |
| Financial Clerks | $22.26 | 16.8% | High School Diploma or Equivalent | None | None |
| Financial Managers | $72.84 | 8.3% | Bachelor’s Degree | 4 to 5 Years | -$25,000 |
| Insurance Appraisers, Auto Damage | $32.95 | 17.5% | Postsecondary Nondegree Award | 2 Years | -$15,000 |
| Insurance Claims and Policy Processing Clerks | $21.67 | -4.0% | High School Diploma or Equivalent | None | None |
| Insurance Sales Agents | $33.22 | -3.8% | High School Diploma or Equivalent | None | None |
| Insurance Underwriters | $38.65 | 7.5% | Bachelor’s Degree | 4 to 5 Years | -$25,000 |
| Loan Interviewers and Clerks | $20.57 | -11.4% | High School Diploma or Equivalent | None | None |
| Loan Officers | $36.99 | 7.8% | Bachelor’s Degree | 4 to 5 Years | -$25,000 |
| New Accounts Clerks | $19.17 | -0.4% | High School Diploma or Equivalent | None | None |
| Personal Financial Advisors | $58.89 | 21.9% | Bachelor’s Degree | 4 to 5 Years | -$25,000 |
| Property Appraisers and Assessors | $31.55 | 6.4% | Bachelor’s Degree | 4 to 5 Years | -$25,000 |
| Securities, Commodities, and Financial Services Sales Agents | $46.41 | 16.4% | Bachelor’s Degree | 4 to 5 Years | -$25,000 |
| Tax Preparers | $25.34 | 12.8% | High School Diploma or Equivalent | None | None |
| Tellers | $15.85 | 9.0% | High School Diploma or Equivalent | None | None |
| Title Examiners, Abstractors, and Searchers | $25.46 | 9.1% | High School Diploma or Equivalent | None | None |
Resources:
U.S. Bureau of Labor Statistics. “Occupational Employment and Wage Estimates, https://www.bls.gov/oes/2020/may/oes_nat.htm.” Accessed December 13, 2021.
U.S. Bureau of Labor Statistics. “Occupational Projections and Worker Characteristics, www.bls.gov/emp/tables/occupational-projections-and-characteristics.htm.” Accessed December 13, 2021.
U.S. Bureau of Labor Statistics. “Occupational Outlook Handbook, https://www.bls.gov/ooh” Accessed December 13, 2021.
