What Are the Most Common Careers in Finance?

The most common careers in finance include personal financial advisors, actuaries, financial analysts, financial examiners and budget analysts, and these roles span banks, corporations, investment firms and insurance companies. Pay varies by role and experience, but several of these careers are projected to grow much faster than the average occupation over the next decade.

What does a career in finance actually involve?

At its core, finance is about managing, investing and growing money for individuals, businesses or institutions. Finance professionals analyze financial data, evaluate risk and help guide decisions about where money should go next. That can mean managing a company's cash flow, building an investment portfolio for a client or assessing whether a bank loan is a sound risk.

Unlike accounting, which focuses on recording and reporting what has already happened financially, finance is forward looking. Herzing University's finance program page frames finance professionals as focused on planning and strategy: analyzing investments, managing risk and using data to help organizations grow.

What are the most common careers in finance?

Forbes Advisor analyzed Bureau of Labor Statistics data on the field and found that some of the most common finance careers include:

• Personal financial advisors, who help clients manage investments and plan for retirement
• Actuaries, who calculate the financial cost of risk for insurers and other organizations
• Financial analysts, who evaluate investments and guide business decision making
• Financial examiners, who monitor financial risk and compliance at banks and other institutions
• Budget analysts, who help organizations plan and manage their finances
• Accountants and auditors, who prepare and review financial records
• Insurance underwriters, who evaluate applications and set coverage terms

Among these, personal financial advisors and actuaries tend to be among the highest paid, while budget analysts and accountants sit closer to the middle of the range. Even the lower paid roles on this list, however, typically earn well above the national median wage across all occupations, based on Bureau of Labor Statistics figures.

Why are these roles in such demand?

Growth varies by role and reflects different pressures across the industry. Actuary demand is climbing as organizations invest more in risk management, while financial examiner roles are expanding to help institutions navigate an increasingly complex regulatory environment. Personal financial advisors see steady demand as an aging population seeks more help managing investments and planning for retirement. Insurance underwriting is one of the few finance careers in decline, largely due to automation.

As Peter Watkins, senior director of university programs at CFA Institute, told Forbes Advisor, "amid shrinking talent pools, U.S. graduates are prioritizing careers that promise reliance, meaningful growth and lifelong learning opportunities, and they're finding those opportunities in the finance sector."

What education and certifications do finance careers require?

Most finance careers start with a bachelor's degree, though the right field and certifications vary by role:

• Financial analysts typically need a bachelor's in business or finance, and some employers prefer a master's degree or the CFA credential
• Personal financial advisors generally need a bachelor's degree, with certifications like the CFP often preferred and FINRA registration required to sell securities
• Budget analysts usually need a bachelor's in business or a math related field
• Financial examiners typically need a bachelor's degree with accounting coursework, plus credentials such as a CPA in some roles
• Actuaries need a math related bachelor's degree and certification from a group like the Society of Actuaries

Herzing offers both a Bachelor of Science in Finance and a Master of Science in Finance, with coursework in corporate finance, investment analysis, financial planning and emerging areas like fintech. The bachelor's program also allows students to earn dual credit toward a master's degree in finance or an MBA. Both programs help prepare students for certifications including the CFA, CFP and CTP designations.

What industries hire finance professionals?

Finance graduates can pursue opportunities across banks, investment firms, corporations, financial planning firms, fintech companies and government agencies. Investment banks are one well-known path into the field. Firms like Morgan Stanley actively recruit students, recent graduates and experienced professionals into their ranks.

Whether your goal is analyzing markets, managing portfolios or guiding individual clients toward their financial goals, a finance degree can help you build the credentials employers are looking for.