How Many Jobs Are Available in Finance? A Complete Guide for 2024

As of June 2023, the finance sector in the United States had approximately 209,184 active job postings. This number represented an increase of 4.4% month-over-month and a 0.86% increase since March 2023.

Additionally, in June 2023 alone, there were 73,460 new finance sector jobs posted, indicating a 2.99% increase compared to the previous month.

In this guide, we’ll provide comprehensive and up-to-date information on the job opportunities within the finance industry in the year 2024 that will serve as a valuable resource for individuals interested in pursuing a career in finance or those already working in the field.

Let’s get started.

What Is the Finance Industry?

The finance industry, also known as the financial sector, encompasses a wide range of businesses, institutions, and activities that manage and facilitate the flow of money, capital and financial resources in an economy.

It plays a crucial role in the allocation of funds, investment, risk management and the overall functioning of the economy.

The finance industry includes various components such as banks, investment firms, insurance companies, asset management companies, stock exchanges, credit unions and other financial intermediaries.

It also covers diverse services, including lending, investment management, financial planning, insurance and more.

Overall, the finance industry serves as the backbone of modern economies, helping individuals, businesses, and governments manage their financial needs, make investments and mitigate risks.

How Many Jobs Are Available in Finance?

The finance industry offers a wide array of career paths, each catering to different interests, skills and areas of expertise.

Some of the various career paths in finance include:

Investment Banking

• Investment Banker
• Mergers and Acquisitions (M&A) Analyst
• Capital Markets Analyst
• Private Equity Analyst

Corporate Finance

• Financial Analyst
• Treasurer
• Risk Manager
• Corporate Development Professional

Financial Planning and Analysis (FP&A)

• Financial Planner
• Budget Analyst
• Finance Manager
• Treasury Analyst

Asset Management

• Portfolio Manager
• Investment Analyst
• Hedge Fund Manager
• Mutual Fund Manager

Commercial Banking

• Commercial Banker
• Relationship Manager
• Credit Analyst
• Branch Manager

Private Banking and Wealth Management

• Private Banker
• Wealth Manager
• Estate Planner
• Trust Officer

Risk Management

• Risk Analyst
• Credit Risk Manager
• Market Risk Analyst
• Compliance Officer

Financial Services and Consulting

• Financial Consultant
• Management Consultant
• Financial Advisor
• Financial Services Sales Representative

Insurance

• Actuary
• Underwriter
• Claims Adjuster
• Insurance Broker

Real Estate and Mortgage Finance

• Real Estate Analyst
• Mortgage Broker
• Real Estate Appraiser
• Property Manager

Fintech and Emerging Roles

• Blockchain Analyst
• Data Analyst in Fintech
• AI and Machine Learning Specialist
• Cryptocurrency Analyst

Quantitative Finance

• Quantitative Analyst (Quant)
• Risk Quantitative Analyst
• Derivatives Analyst
• Algorithmic Trader

Compliance and Regulation

• Compliance Officer
• Regulatory Analyst
• Financial Examiner
• Anti-Money Laundering (AML) Analyst

Treasury and Cash Management

• Treasury Analyst
• Cash Manager
• Treasury Operations Specialist
• Payment and Settlements Analyst

Public Finance

• Municipal Bond Analyst
• Public Finance Advisor
• Government Financial Analyst
• Tax Consultant

Venture Capital and Startups

• Venture Capitalist
• Startup CFO
• Angel Investor
• Venture Capital Analyst

Academia and Research:

• Finance Professor
• Research Analyst
• Economist
• Financial Researcher

These are just some of the many career paths within the finance industry, and each path can lead to a variety of specialised roles and opportunities.

Your choice of career path should align with your interests, skills and long-term goals.

Entry Level Finance Jobs

Entry-level finance jobs are positions suitable for individuals who are just starting their careers in the finance industry or who have limited prior experience in the field.

These roles provide a foundation for building a career in finance and can serve as stepping stones to more specialised and advanced positions.

Here are some common entry-level finance jobs:

Financial Analyst

• Responsibilities – Analysing financial data, preparing reports, assisting in budgeting and forecasting and providing recommendations for financial decisions.
• Skills – Strong analytical skills, proficiency in Excel, financial modelling and data analysis.

Financial Planner/Advisor

• Responsibilities – The financial advisor job is to assist individuals and clients in managing their finances and providing advice on investments, budgeting and retirement planning
• Skills – Strong communication skills, knowledge of financial products and the ability to create financial plans

Accounting Assistant/Bookkeeper

• Responsibilities – Recording financial transactions, managing accounts payable and accounts receivable, and helping prepare financial statements
• Skills – Basic accounting knowledge, proficiency with accounting software and attention to detail

Credit Analyst

• Responsibilities – Assessing the creditworthiness of individuals or businesses applying for loans or credit, making lending recommendations.
• Skills – Analytical skills, knowledge of credit evaluation processes and risk assessment

Investment Banking Analyst (Analyst Level)

• Responsibilities – Assisting senior bankers in M&A transactions, financial modelling, industry research and pitch book creation
• Skills – Strong analytical and financial modelling skills and attention to detail

Bank Teller

• Responsibilities – Assisting customers with routine banking transactions, such as deposits, withdrawals and account inquiries
• Skills – Customer service, basic maths and familiarity with banking procedures

Financial Services Representative

• Responsibilities – Assisting customers with financial products and services, including banking, insurance and investment products
• Skills – Customer service, product knowledge and sales skills

Risk Analyst

• Responsibilities – Analysing and assessing various types of risk (credit risk, market risk, operational risk) within an organisation
• Skills – Analytical skills, knowledge of risk management concepts and the ability to identify potential risks

Treasury Analyst

• Responsibilities – Managing cash flow, optimising liquidity and ensuring efficient use of funds within a company
• Skills – Financial analysis, cash management and familiarity with treasury operations

Entry-Level Trader

• Responsibilities – Assisting in executing trades, monitoring market trends and managing trading systems
• Skills – Basic knowledge of financial markets, trading platforms and analytical skills

Financial Compliance Associate

• Responsibilities – Ensuring compliance with financial regulations, conducting audits and implementing compliance procedures
• Skills – Knowledge of financial regulations, attention to detail and data analysis

These entry-level finance jobs often require a bachelor’s degree, preferably in finance, economics, accounting or a related field.

Additionally, some roles may involve on-the-job training and mentorship to develop specific skills and industry knowledge.

As individuals gain experience and expertise, they can progress to more advanced and specialised positions in finance.

What Are the Roles and Responsibilities in Finance?

Roles and responsibilities in the field of finance can vary widely depending on the specific job or career path.

Here’s an overview of common roles and their associated responsibilities:

Investment Banking

• Investment Banker – Advising clients on financial transactions, such as mergers and acquisitions, raising capital and providing strategic financial guidance.
• Mergers and Acquisitions (M&A) Analyst – Analysing companies and market data to evaluate potential mergers, acquisitions and divestitures.
• Capital Markets Analyst – Managing financial products, like stocks and bonds to raise capital for clients.

Corporate Finance

• Financial Analyst – Analysing financial data, preparing forecasts, and making recommendations to support the financial decisions of the organisation.
• Treasurer – Managing a company’s financial assets, including cash and investments and overseeing risk management.
• Risk Manager – Identifying and mitigating financial risks to protect an organisation from potential losses.
• Corporate Development Professional – Evaluating and executing strategic initiatives, such as partnerships, acquisitions or divestitures.

Financial Planning and Analysis (FP&A)

• Financial Planner – Assisting individuals and organisations in creating financial plans, including budgeting and investment strategies.
• Budget Analyst – Developing and monitoring budgets to help organisations manage their finances efficiently.
• Finance Manager – Overseeing financial planning, budgeting, and reporting for a department or organisation.
• Treasury Analyst – Managing an organisation’s cash flow, liquidity, and financial risk.

Asset Management

• Portfolio Manager – Managing investment portfolios on behalf of clients, making decisions about asset allocation and investments.
• Investment Analyst – Researching and evaluating investment opportunities to inform portfolio decisions.
• Hedge Fund Manager – Managing a hedge fund and making investment decisions to generate returns for clients.
• Mutual Fund Manager – Overseeing the operations and performance of a mutual fund.

Commercial Banking

• Commercial Banker – Providing financial services and loans to commercial clients and managing client relationships.
• Relationship Manager – Building and maintaining relationships with commercial clients and providing them with banking services.
• Credit Analyst – Evaluating the creditworthiness of clients and assessing loan applications.
• Branch Manager – Managing the day-to-day operations of a bank branch.

Private Banking and Wealth Management

• Private Banker – Offering personalised financial services to high-net-worth clients, including investment advice and wealth management.
• Wealth Manager – Managing the financial assets and investments of wealthy individuals or families.
• Estate Planner – Assisting clients in planning the distribution of their assets and managing their estate.
• Trust Officer – Overseeing trusts, ensuring compliance, and managing trust assets.

Risk Management

• Risk Analyst – Identifying, assessing, and managing financial risks, including credit risk, market risk and operational risk.
• Credit Risk Manager – Assessing and mitigating the credit risk associated with loans and investments.
• Market Risk Analyst – Analysing and managing risk related to market fluctuations.
• Compliance Officer – Ensuring that a company complies with relevant laws and regulations.

These are just a few examples of roles and responsibilities within the finance industry.

Each role comes with its own specific duties and often requires a combination of financial expertise, analytical skills and knowledge of industry regulations.

The responsibilities may also evolve as individuals advance in their careers or specialise in specific areas of finance.

What Are the Best Paying Jobs in Finance?

The finance industry offers a wide range of career opportunities. The best salary in finance jobs can be often found at the senior or executive levels.

Compensation can vary based on factors such as location, industry, experience and education.

Here are some of the best-paying jobs in finance:

Chief Financial Officer (CFO)

• Responsibilities – Overseeing an organisation’s financial activities, including financial planning, budgeting, reporting and risk management.
• Average Salary – CFOs can earn substantial salaries, with many in large corporations earning well into the six figures or even exceeding a million dollars annually.

Investment Banking Managing Director

• Responsibilities – Managing investment banking teams, advising clients on complex financial transactions and overseeing the strategic direction of the department.
• Average Salary – Managing directors at investment banks can earn high salaries, often in the seven-figure range, due to the complex nature of their work.

Private Equity Partner

• Responsibilities – Managing private equity investments, raising funds, and overseeing the performance of the portfolio companies.
• Average Salary – Private equity partners can earn significant salaries, often with a substantial share of the profits generated by the fund.

Hedge Fund Manager

• Responsibilities – Managing hedge fund investments, making trading decisions and achieving high returns for clients.
• Average Salary – Hedge fund managers can earn substantial salaries and bonuses, which are often tied to fund performance.

Portfolio Manager (Asset Management)

• Responsibilities – Managing investment portfolios, making investment decisions and optimising asset allocation.
• Average Salary – Portfolio managers in asset management firms can earn competitive salaries, with significant bonuses based on performance.

Quantitative Analyst (Quant)

• Responsibilities – Developing complex quantitative models, algorithms and trading strategies for financial institutions and hedge funds.
• Average Salary – Quantitative analysts are often well-compensated due to the specialised skills required for their roles.

Chief Risk Officer (CRO)

• Responsibilities – Overseeing an organisation’s risk management functions and ensuring compliance with regulations.
• Average Salary – CROs typically earn high salaries, especially in financial institutions where risk management is critical.

Real Estate Investment Trust (REIT) Fund Manager

• Responsibilities – Managing real estate investment portfolios, including commercial and residential properties.
• Average Salary – REIT fund managers can earn substantial salaries and bonuses, particularly in the commercial real estate sector.

Global Head of Compliance

• Responsibilities – Leading and overseeing compliance functions to ensure an organisation’s adherence to regulatory requirements.
• Average Salary – Compliance leaders are often well-compensated for their critical roles in maintaining regulatory compliance.

Derivatives Trader

• Responsibilities – Trading complex financial derivatives, such as options and futures, to profit from market movements.
• Average Salary – Derivatives traders can earn significant salaries, and bonuses may be substantial during profitable trading periods.

It’s important to note that salaries in the finance industry can vary widely based on geographic location, experience and the specific employer.

Additionally, many high-paying finance jobs come with performance-based bonuses and profit-sharing arrangements, which can significantly boost overall compensation.

What Companies Are in the Finance Field?

The finance industry is vast and includes a wide range of companies and institutions that offer financial services and products.

Here are some categories of companies in the finance field and examples of well-known companies within each category:

Commercial Banks

• JPMorgan Chase
• Bank of America
• Wells Fargo
• Citibank
• Goldman Sachs

Investment Banks

• Goldman Sachs
• Morgan Stanley
• JPMorgan Chase
• Deutsche Bank
• Credit Suisse

Asset Management Companies

• BlackRock
• Vanguard Group
• Fidelity Investments
• State Street Global Advisors
• PIMCO

Hedge Funds

• Bridgewater Associates
• Renaissance Technologies
• Two Sigma
• Citadel
• D.E. Shaw

Private Equity Firms

• The Carlyle Group
• KKR & Co.
• Blackstone Group
• Apollo Global Management
• TPG Capital

Insurance Companies

• Berkshire Hathaway
• Prudential Financial
• MetLife
• AIG (American International Group)
• Allianz

Credit Unions

• Navy Federal Credit Union
• Pentagon Federal Credit Union
• State Employees’ Credit Union
• BECU (Boeing Employees’ Credit Union)
• SchoolsFirst Federal Credit Union

Stock Exchanges and Marketplaces

• New York Stock Exchange (NYSE)
• NASDAQ
• London Stock Exchange (LSE)
• Hong Kong Stock Exchange (HKEX)
• Euronext

Financial Technology (Fintech) Companies

• PayPal
• Square
• Stripe
• Robinhood

Real Estate Investment Trusts (REITs)

• Simon Property Group
• Prologis
• Realty Income Corporation
• Equity Residential
• Digital Realty Trust

Credit Rating Agencies

• Standard & Poor’s (S&P)
• Moody’s Investors Service
• Fitch Ratings
• Kroll Bond Rating Agency (KBRA)
• A.M. Best Company

Financial Consulting and Advisory Firms

• Deloitte
• PricewaterhouseCoopers (PwC)
• Ernst & Young (EY)
• KPMG
• McKinsey & Company

Financial Services and Payment Processing Companies

• Visa
• Mastercard
• American Express
• PayPal
• Square

Online Brokerage Firms

• Charles Schwab
• E*TRADE
• TD Ameritrade (now part of Charles Schwab)
• Interactive Brokers
• Robinhood

Mortgage Lenders and Servicers

• Quicken Loans (Rocket Mortgage)
• Wells Fargo Home Mortgage
• JPMorgan Chase Home Lending
• Fannie Mae
• Freddie Mac

These are just a few examples, and the finance industry includes a diverse array of companies, from traditional banks and financial institutions to innovative fintech startups.

Depending on your interests and career goals, you may find opportunities in various sectors within the finance field.

What Skills and Education Are Required to Work in Finance?

Working in the finance industry typically requires a combination of specific skills and education.

The specific skills and educational qualifications can vary depending on the role and subfield within finance, but there are some common requirements:

Skills Required

• Analytical Skills – The ability to analyse financial data, market trends, and economic conditions is crucial in finance. You should be able to interpret complex data and make informed decisions.

• Numerical Proficiency – Strong math skills are essential for finance professionals. You’ll need to work with numbers, perform financial calculations and analyse data accurately.

• Critical Thinking – Financial professionals must be able to think critically, evaluate risks and opportunities and make strategic decisions.

• Problem-Solving – Finance often involves addressing complex financial problems and finding effective solutions.

• Communication Skills – Effective communication is crucial, as you’ll need to explain financial concepts, present recommendations and work with clients or colleagues.

• Attention to Detail – In finance, even small errors can have significant consequences. Paying attention to detail is essential to avoid costly mistakes.

• Financial Software Proficiency – Familiarity with financial software and tools, such as spreadsheet software (e.g., Excel), financial modelling software and trading platforms, is important.

• Ethical Judgment – Finance professionals should have a strong sense of ethics and the ability to make ethical decisions, especially in roles involving investments and managing other people’s money.

• Time Management – Efficiently managing time and meeting deadlines is crucial, especially in roles that involve financial reporting and compliance.

Educational Qualifications

• Bachelor’s Degree – Many entry-level positions in finance require at least a bachelor’s degree. Common majors include finance, economics, accounting or business.

• Advanced Degrees – Depending on the career path, some finance professionals pursue advanced degrees, such as a Master of Business Administration (MBA) or a Master’s in Finance, to enhance their knowledge and career prospects.

• Certifications – Certain roles and subfields may require specific certifications, such as the Chartered Financial Analyst (CFA) designation for investment professionals, Certified Public Accountant (CPA) for accounting and auditing, or Certified Financial Planner (CFP) for financial planning.

• On-the-Job Training – In many finance roles, on-the-job training and mentorship are important for developing practical skills and industry knowledge.

• Continuing Education – Staying updated on industry trends and regulations through continuing education is often necessary in finance. This can involve attending seminars, workshops or earning additional certifications.

• Networking – Building a professional network is essential in finance. This can help you access opportunities, learn from experienced professionals and stay informed about industry changes.

It’s important to note that the specific requirements may vary based on factors such as the type of employer, job level and geographic location.

Additionally, some finance roles may require specific industry knowledge or expertise, such as healthcare finance or real estate finance.

Therefore, it’s essential to research the requirements for the specific career path you’re interested in and consider pursuing relevant educational and professional development opportunities.

Frequently Asked Questions

Final Thoughts

The finance industry continues to evolve with changing economic conditions, emerging technologies, and regulatory developments.

While specific job prospects can vary, the finance sector offers a wide range of opportunities for individuals with the right skills and qualifications.

It’s important to recognise that the finance industry is not a one-size-fits-all field.

There are diverse career paths within finance, catering to various interests and skill sets.

Aspiring finance professionals should carefully consider their individual goals and choose a path that aligns with their strengths and passions.

In today’s competitive job market, those pursuing careers in finance can enhance their prospects by acquiring a strong educational foundation, gaining practical experience through internships or co-op programs, developing sought-after skills and continuously networking within the industry.

Staying up to date with industry trends and fostering adaptability will also be key to success in finance.

Moreover, the finance industry’s future holds promise, with the potential for innovation and growth, especially in areas like fintech, sustainable finance and risk management.

As the global economy evolves, finance professionals may find themselves at the forefront of critical decisions and strategies that have far-reaching impacts.

Ultimately, while the finance field may present its challenges, it is a field where dedication, knowledge and an appetite for learning can lead to rewarding and fulfilling careers.

Whether you are interested in investment banking, asset management, financial planning, or any other finance role, numerous opportunities await those who are prepared to pursue them with passion and commitment.