Hundreds of different positions could fall under the umbrella of finance and accounting. If you’re considering a position in one of these fields, you may feel overwhelmed by the sheer number of choices. One way to narrow down your options is by looking at which careers are most in-demand. This is an excellent place to start because no matter how appealing a career sounds or how good a fit it may be, pursuing the career has little value if you can’t get hired. With that in mind, here are the top ten careers in finance and accounting with the most projected growth over the next ten years.
1. Accountant
Accountants will always be in demand. Any organization with financial statements, and therefore every organization, will at some point or other need the services of an accountant. The exact duties of an accountant will depend on the role, but the ultimate goal of any accountant is to prepare, keep up with, and/or audit an organization’s financial statements to ensure accuracy. The average salary for an accountant is about $73,000.
2. Financial Analyst
Financial analysts review financial data to guide businesses. They often use past historical data to make projections relating to things like revenue or spending. Financial analysts provide a lot of value to companies because they help companies make more sound business decisions. The average salary for a financial analyst is around $84,000.
3. Financial Advisor
Financial advisors provide clients with guidance on how to handle their finances. Two things about this position set it apart from many other jobs in finance and accounting. The first is that the role is built on relationship building as opposed to many careers in finance and accounting that are built around gathering and analyzing data. The second noteworthy aspect of a career as a financial advisor is that it can be especially lucrative, with average salaries of around $91,000.
4. Management Analyst
Management analysts, also known as management consultants, are typically outsourced, consultants. Companies hire management analysts to help them increase revenue and cut costs by limiting operational inefficiencies. Management analysts make about $82,000, on average.
5. Financial Manager
Financial managers are some of the highest earners on this list, with average salaries of about $125,000. Even in finance, which is known for having lucrative careers, financial managers stand out. This higher compensation is due in part to a large amount of responsibility financial managers must handle, since a financial manager is responsible for the long-term financial health of an organization.
6. Budget Analyst
As the name implies, this role focuses on the creation, maintenance, and monitoring of budgets. A budget analyst is responsible for tracking spending to ensure that it aligns with the company’s future goals. For an organization to achieve its objectives, it needs a budget analyst who can ensure its budget is complete and accurate, as well as comply with all applicable regulations. Budget analysts can expect to make an average salary of about $75,000.
7. Auditor
When working internally, auditors identify an organization’s risks. They also ensure the organization complies with any applicable financial regulations. Specifically, auditors will test the effectiveness of various internal controls, find areas where the organization could improve, and work with other members of the organization to ensure the completion of these improvements. On average, auditors make about $69,000.
8. Tax Accountant
Tax accountants may work with either individuals or businesses to help them file taxes at either the federal, state, and/or local level. There are various roles for tax accountants, but senior tax accountants are the positions with the most demand. Senior tax accountants make an annual average salary of about $86,000.
9. Controller
A controller’s job is to prepare reports for an organization that summarizes its current business activities and financial position. A controller also makes predictions regarding the future financial position of the organization. Depending on the position, a controller may also help the organization create policies and procedures relating to an organization’s finances. Controllers are another one of the more lucrative in-demand positions, with average annual compensation of about $125,000.
10. Credit Analyst
A credit analyst’s main responsibility is to either approve or reject loan applications. A credit analyst does this by looking at the creditworthiness of the potential recipient and the potential profitability for the lender. Credit analysts review information from credit bureaus, reporting services, and banks. The average salary for a credit analyst is around $71,000.
Finance and accounting careers come with many benefits, including a challenging work environment and the potential for lucrative compensation. For those looking to enter the field of finance or accounting, pursuing an in-demand job can increase your chances of finding employment and the expected growth in demand for these positions means more job security.
