Looking to pursue a career in finance? Whether you want to study it or enter the finance industry, it is first important to know where the best high paying finance jobs are.
In the UK, finance is one of the highest paying economic sectors. Being the most exciting professional environment in the world, the financial sector attracts thousands of candidates and job seekers from all over the world every year.
According to Glassdoor’s anonymous salary data, the average salary for a CFO is around £99,410 per year. It has even been listed as one of the most popular employment sectors by Indeed UK.
Nevertheless, you should know that pursuing a career in finance comes with long hours and exhausting days in the office. The upside is that those who stay in the profession are rewarded as they move up the corporate ladder. These include higher pay and shorter working hours.
There are many different roles in this field, from commercial banking to insurance. Recognizing the wide range and best paying finance jobs in the field will help you make your decision when pursuing a career in finance.
Here are five of the best paying finance jobs in the UK:
1. Chief Financial Officer (CFO)
A CFO is in charge of all of a company’s financial decisions. CFOs in the UK have a national average salary of £131,958 per yeartaking the top spot among the highest paying finance jobs in the country.
But with higher pay comes greater responsibility – and that’s exactly the case for a CFO. Their input will significantly affect a company’s investments and the decisions made regarding income and expenses. This comes with a long list of tasks, including: analyzing the financial health of a business, planning activities, budgeting, and ensuring that all financial reports are accurate and complete.
Although difficult, the work is extremely rewarding. To start your career as a CFO, you will first need a degree in the field of accounting and finance or something related to this field. The majority of CFOs continue their education with an MBA. Based on a survey of Fortune 100 CFOs, it was found that 54% of them have completed an MBA.
According QS World University Rankingsof of the top ten universities in the world for accounting and finance, the UK has three. This includes University of Oxford, University of Cambridge and The London School of Economics and Political Science.
2. Tax Director
Most of us dread the time of year when we have to file our tax returns. Tax managers do it every day.
Tax managers spend their day managing personal taxes. The difference is that they get paid a lot of money to do it. According to Glassdoor UK, the national average salary for a tax manager in the UK is around £117,161 a year.
Overseeing quarterly and annual regulatory and tax preparations, filings, and disclosures are just a few of the duties of a tax manager.
Obtaining a bachelor’s degree in a business field such as finance, accounting, economics, or business administration is the first step in pursuing a career as a tax manager. This is followed by taking higher education programs while working towards the qualifications needed to become a tax manager.
Although it may take a few years, aspiring tax managers must pass the exams offered by the ATT (Association of tax technicians) or the CIOT (Accredited Institute of Taxation).
3. Quantitative Analyst
A quantitative or “quant” analyst is responsible for planning and forecasting as well as accounting-related tasks. The average annual salary for a quantitative analyst in the UK is £79,948.
Quants find profitable investment options while minimizing risk. They use quantitative methods to aid business and financial decisions for investment banks, hedge funds, asset managers, and private equity firms.
The road to becoming a quantitative analyst is usually easier than that of other jobs. The minimum requirement for candidates is to have a bachelor’s degree which will allow them to acquire the necessary mathematical proficiency for the position. A bachelor’s degree in data science, computer science or statistics are some of the courses that will serve you well in this field.
For higher seniority positions, a master’s or doctoral degree in the field is required.
If you are a math expert, this career is for you. To become an actuary, one would need to have specialized mathematical knowledge, analytical and communication skills. Actuarial majors are trained to have specialized math knowledge, analytical skills, and computer savvy.
The job of an actuary is not an easy task. They manage risk, from assessing the chances of things happening to planning ways to prevent them from happening.
To become fully accredited, aspiring actuaries would first have to pass a series of actuarial exams. Although it is a long and difficult path to qualify as an actuary, once completed, actuaries are among the highest paid employees in the UK. Based on the national average salary, an actuary in the UK earns up to £76,001 per year.
Interested in taking the risk? Enroll in an actuarial science program in the UK. Many of their best universities offer the programs you need to get started in the field.
5. Investment banker
Investment banking is among one of the highest paying finance jobs in the industry and is a highly competitive field. Typically, an investment banker compensates up to £52,854 a year in the UK.
Investment banking associates are often employed by financial firms to perform client-facing duties. They are responsible for a wide range of tasks in the financial sector. This includes managing client relationships, building a portfolio of investment opportunities, and executing strategic financial transactions to support corporate profitability objectives.
In addition at Standard math and computing skills, investment bankers to have to be ready at work long hours and have a strong agreement of industry ethics. After everything, more of their work is spent to negotiate with clients and colleagues more the call. A context in banking, finance Where accounting is a solid foundation for this position.