5 highest entry-level paying jobs in Finance sector in 2022

Overall, jobs in the Finance sector pay much higher than the median salary in other industries. That includes even salaries at the entry-level positions.?

When working in Finance, it is pleasant to read that according to the Bureau of Labor Statistics, finance sector jobs are expected to grow 5% from 2019 to 2029. This growth is expected to be faster than the overall average for occupations. (Bureau of Labor Statistics, 2021)

Harsh reality

With what seems a bright future in the financial field, it is essential to know that it is one of the most competitive industries. Thus, landing a job becomes more complex year by year with high numbers of applicants aiming for the same positions in the same institutions.?

With this level of competition, it is significant to know all the peculiarities of the application process to be fully prepared for that dream job in Finance.?

Overview

According to Glassdoor, entry-level finance compensation at the beginning of 2021 averages $88,774 a year. I will analyze the industry and tell you about the 5 most paid entry-level jobs in the Finance industry.?

Please note that all the annual salaries are indicated in American dollars ($) and are presented according to the US job market.?

So, first of all:?

?1.?????Hedge Fund Analyst

?Let's take an analyst with less than two years of experience to provide you with a clear picture. The analyst will command about $87,721 or more per year by overseeing the hedge fund's investments, according to Indeed.com.

Often salaries of hedge fund professionals are based on the "two and twenty" plan. Thus, it comprises a 2% management fee (applied to the total funds under management) and 20% of the sum that fund generates.?

?2.?????Investment Banking Analyst

With M&A being the most profitable business for investment banks, the specialist who can successfully manage important M&A deals earns one of the highest salaries in the sector.?

?Starting salary for an Investment Banking analyst is $85,000 in 2020 - according to LinkedIn Salary Survey.

3.?????Private Equity Analyst

?Being in a similar position as Hedge Fund Managers, specialists in Private Equity are among the best-paid professionals.?

With less than two years of experience, one can earn around $83,200 per year in this position. More experienced Private Equity Analyst (2-5 years of experience) may receive $94,100 as annual salary (with 38% raise comparing to the young specialist).?

4.?????Private Banking Analyst

Another high paid position in the Finance sector is a Private Banking Analyst, who can be expected to earn $80,000 per year, according to Glassdoor. Starting with this position, one might become a Relationship Manager later in his career by gaining experience and expertise.?

5.?????Financial Auditors

Finance auditors are definitely among the in-demand jobs in the financial field. With numerous requirements and regulations imposed by governments on businesses and investment practices since 2008, this role seems especially valuable and significant today.?

?The annual salary was $74,00 in 2021, and it is expected to grow by 4% by the year 2029.

?How to get that high paid entry-level position job??

?There are a couple of requirements, starting with (obviously) education.?

1.?Get at least a Bachelor Degree

?Having a degree in Finance will be a bare minimum for landing any job in the Finance sector. A degree from "IVY League Schools" is not necessary, so attending any other prestigious and well-ranked university and choosing their Finance Degree will work perfectly well.?

2. Apply strategically for internships.?

?Often getting an internship in a prestigious bank or financial institution is even more significant than the university's name on your diploma.?

?It will take attention to detail and the right amount of networking to get a good internship that could be a stepping stone in getting you a spot in a traineeship after your graduation.

?3. Create a strategy and be prepared in advance for the application process.?

?With a high level of competition and others having high GPAs, it is vital to be creative and come to the application process with an elaborate and intelligent strategy. Attending regular Free Webinars, Coaching Sessions, as well as Networking with professionals and graduates will give you clarity and direct tips on landing that dream job in Finance.?

Please click HERE to join the?Finance Community of MCG on Telegram to join Webinars, attending Networking Events and receive Job Offers.

Lisa Tyshchenko