If you want to earn a lot of money, then the finance industry can be the place to do it. Recent figures put the average weekly earnings at £624 for finance workers, higher than the national average. There are plenty of jobs in the city that pay upwards of £70,000 as well as hefty bonuses for good performance and in some cases signing on bonuses. So what are the best paying jobs in finance?
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Best paying jobs in finance.
Management accountant.
A management accountant looks after a company’s figures and accounts. Typically, the role is a senior one and involves preparing financial statements, advising on business strategies and helping the management team make financial decisions, keeping to budgets, monitoring performance, analysing the impact of business decisions and implementing regulations and controls.
It’s a role which carries a great deal of responsibility and the average salary is around £36,650. If you gain chartered status or work for a large corporate you can expect to earn substantially more.
Salary Range: £32,590-£42,070+
Source - Randstad salary calculator
Financial controller.
A financial controller oversees the smooth running of a company’s accounts department. Although there will usually be a team of accountants taking care of the more administrative tasks, it is the job of the financial controller to produce periodic reports and identify trends, performance and cash flow forecasts. A financial controller will also have responsibility for auditing and ensuring compliance with financial regulations. Average salary for a financial controller in a city is around £50,000.
Salary range: £46,350-£62,690+
Source - Randstad salary calculator
Fund accountant.
A fund accountant is responsible for keeping all accounting aspects of the fund they work for in good order. On a daily basis this means preparing reports to show yields, net asset values and distributions as well as reconciling different accounts, preparing for and scheduling audits, identifying any irregularities and preparing reports on the fund. The average salary for a fund accountant is around £55,000 a year, depending on location.
Average salary: £41,230-£61,470
Source - Randstad salary calculator
Financial analyst.
A financial analyst collects and monitors financial data for a given organisation and then uses that data to identify trends and make recommendations to senior management. The role is one which requires a real aptitude for numbers and encompasses maths, accountancy and economics. A financial analyst also needs to be up to date with current trends in the industry they work, be able to make financial forecasts and make recommendations for improvements. Financial analysts are currently in very high demand.
Salary range: £72,940-£83,600
Source - Randstad salary calculator (salary based on working in banking, based in London with 5 years of experience)
Investment banker.
To be an investment banker you need to understand how money is made and invested. The role involves providing a range of financial services to different organisations and can include things such as mergers, acquisitions, lending, privatisation and initial public offerings. An investment banker might work in corporate finance, providing specialist knowledge on mergers and acquisitions or they might be in debt capital restructuring debt obligations.
Average salary: £56,620-£79,020
Source - Randstad salary calculator
For more information on the finance industry, we’ve compiled a page dedicated to accounting salaries based on data provided by the randstad salary calculator.
