Is Finance A Good Career Path?

Finance career essentials:

Average US salary: $92,000 (entry-level $60,000-100,000+ depending on path)

CFO average: $421,000 | Investment banking analyst: $100,000+ starting

Stability varies: Accounting/insurance more stable, trading/banking more volatile

Key considerations:
Long hours and stress in high-paying roles (investment banking, hedge funds). Better work-life balance in mid-tier roles (corporate finance, accounting) with lower but solid compensation.

Best for: Strong numerical skills, analytical thinking, high-pressure tolerance, continuous learning mindset. Not ideal if you prioritize work-life balance over compensation.
Is finance a good career path for you?

Finance offers some of the highest-paying careers available, but compensation comes with trade-offs that many candidates don’t fully consider until they’re years into demanding roles.

The sector is incredibly varied — from stable accounting positions with reasonable hours to intense investment banking roles paying $150,000+ in year one but demanding 80-hour weeks. Understanding which finance path matches your skills, personality, and lifestyle priorities is crucial before committing.

Here’s an honest assessment of finance careers: the benefits, downsides, realistic salary expectations, required qualifications, and whether this path suits you.

Contents

What are the benefits of working in finance?
Are there downsides to working in finance?
Salaries in finance
Is finance a stable career long term?
Where do finance professionals work?
Popular jobs in finance
How to get started in finance
Does finance provide job satisfaction?
What skills & qualifications are needed in finance?
Is finance a good career path for you?
FAQs about a career in finance

What are the benefits of working in finance?

The finance sector entices many young professionals due to the high salaries on offer, with some finance positions being among the best-paid jobs in the UK. There are also many opportunities for progression which can happen quickly.

Opportunities to build skills in the finance sector as well as further training are often provided, and you can find a variety of fascinating positions in the industry. For example, you may find that you are managing and investing large sums of money, buying and selling company businesses, or supporting the financial management of major organizations.

With so many careers available in this area, there are always opportunities to find something new and exciting, and both public and private sector financial roles can give a good amount of job security.

Are there downsides to working in finance?

Working in finance can be a fantastic career, but it’s not without its downsides. Trying to find a work-life balance can be challenging, both at the early stages of your career and as you progress. The sometimes long hours and high-stress roles can cause burnout quickly, and fast career progression can sometimes come at the cost of personal relationships and outside interests.

Another added stressor is the fast-moving nature of the industry itself. The finance sector evolves and changes almost daily, and the need to keep your finger on the pulse can be difficult. Keeping skills and education consistently updated can make it even more challenging to “switch off”. And, because the sector is impacted so keenly by world events, some roles can have less job security due to certain happenings globally. Economic conditions may impact how secure your job is, especially in banking and similar roles.

Naturally, there are some jobs in finance that are less harshly affected by the economic climate, and where consistent upskilling is not necessary – these can afford more security. On the other hand, these roles can be repetitive and boring, rather than giving you the excitement you may want in your career.

Salaries in finance

The salaries in finance can vary quite widely based on the role you take on. The average finance salary in the US is a little over $92,000. However, this data is gathered using a huge variety of positions, some of which have very high salaries and some much lower.

The average salaries of other roles in finance are:One of the highest-paid financial positions is Chief Financial Officer, with an average salary of over $421,000.

US-based financial advisors can expect to earn an average of $94,000. Entry-level finance positions can pay less but are still higher when compared to other non-finance career paths.

Some of the best paying career paths however include the likes of investment banking; this sector can offer entry level salaries of $100,000+ in the US and rise quite significantly within a few years.

Is finance a stable career long term?

Finance may be seen as one of the most stable career options, but it’s worth reflecting on the fact that this can change due to economic challenges across the globe, and certain paths within finance are more stable than others. Those in some areas of banking such as trading, for example, are often fearful of their job security due to world events.

Meanwhile, accountancy is often seen as a more “boring” finance job but also a secure choice, as there are many different avenues that a qualified accountant can pursue as a career.

Where do finance professionals work?

There are a huge amount of different organizations that require finance professionals, from the very highest positions to lower-level roles.

Commercial banks and hedge funds employ a range of finance professionals including analysts, portfolio managers, and other investment specialists.

Private and public businesses often require accountants, chief financial officers, and risk managers, as well as those involved in a range of corporate finance positions. The insurance sector is another specialized area where there is a huge demand for candidates and is more stable than the banking sector.

Meanwhile, management consultants work across a range of industries, helping their clients to meet business objectives. This is a fast-paced role with a huge learning curve. While consultants typically work for a consultancy firm rather than directly for the businesses they are helping, their skills are in demand across a variety of sectors.

There’s also scope for finance professionals to be self-employed. Accountants often set up their own practices to work with clients and private individuals, as do financial advisors and those involved in areas like private wealth management.

Popular jobs in finance

If you are good with numbers and want to pursue a job in finance, there is almost too many choices. Here are some of the most popular jobs in finance, including what makes them so rewarding and where you might find these roles.

Investment banking

Investment banking involves supporting larger organizations and businesses with fundraising, money management, selling or acquiring business assets. This can mean that you are dealing with mergers, advising on risk management, or underwriting for initial public offering (IPO), among other activities. You can find this position in insurance agencies or banks, as well as mutual fund companies.

Entry level roles are usually analyst positions, typically involving gathering and interpreting data to help the firm make investment decisions. Hours can be long, however salaries are typically high, with bonuses helping to make total compensation earned by those in investment banking amongst the highest in the financial sector.

Accounting

Accounting is one of the most popular and widely held positions in finance. There are a few paths that those working in the sector can follow including working for a specialist firm such as one of the Big Four, through to working within an internal accounting department in an organisation.

Though the salary may be a little lower than some of the best paying financial roles, accountancy is a secure and steady career with many options for where you pursue it.

An accountant provides advice to a company or client, carries out financial audits, and develops and manages processes to ensure that best practice is followed in accounting. You may work for a government organization such as a local council, an independent business, a large national or international company, or even private individuals. There are so many opportunities and organizations that require accountants, which makes it a flexible choice for finance professionals.

Financial analyst

A financial analyst needs a real grasp of the current state of the economic climate. As an analyst, you will provide guidance on where a client or business may wish to invest their money, giving them an accurate idea of how this might be a positive choice for them.

Financial analysts need to have their finger on the pulse of the market and have a strong understanding of the financial industry at large. This will help you to advise organizations on how to grow, using your knowledge of current financial and world news, ongoing and emerging trends, and data analysis.

A financial analyst may work for an investment bank, insurance company, for an individual, or for a large corporation.

Portfolio management

Portfolio management is a role which specializes in developing investment strategies for investment and building portfolios – sometimes from the ground up. They are especially focused on deciding when to make investments and when to sell them.

As such, a portfolio manager may work for a private individual to help them achieve their investment goals with well-thought-out and managed processes, but may also work for pension funds, hedge funds, or wealth management organizations with active or passive portfolios.

Portfolio managers can typically expect to earn an average of $124,000 in the US with a few years experience, excluding a bonus component which is dependent on fund performance.

Management consulting

While a management consultant doesn’t strictly deal with finance (unless it specializes in financial sector where its clients are banks, insurance firms etc), it’s a key element of the role. This position involves supporting businesses in finding solutions for ongoing issues, and strategizing with them to achieve growth and better performance. Part of this will inevitably mean organizing their financial matters for improved return on investment and overall profit.

A management consultant may be a specialist in a certain industry, such as the medical or software field, but may also be a qualified finance professional. They take their own specialist knowledge into an organization which can be of any size, and in a variety of industries.

Consulting can be a financially rewarding career, particularly at top firms. For example, in the US entry level analysts at good consulting firms would expect to take home up to $130,000 inclusive of bonuses, with salaries increasing quite significantly with experience.

Hedge funds

A hedge fund is an investment fund where investors pool assets for trading purposes. As one of the most prominent roles in the finance sector, working at a hedge fund requires you to oversee investments, make decisions, and continuously assess the operations of the hedge fund itself.

Managing a hedge fund is a high-pressure but lucrative job – you may be working on behalf of companies or private individuals. Competition for jobs at the top funds can be strong as this is amongst the best paid careers in finance, with entry level analysts able to earn well over $100,000 in their first year in the US.

Corporate finance

Working in corporate finance revolves around supporting businesses in finding funding options, decisions regarding investment, and how capital is used. The aim is to increase the company value to benefit shareholders, minimizing costs while building profits. A range of businesses require support with corporate finance, with some employing a finance professional directly. You can also work independently as a corporate finance consultant.

Corporate finance covers quite a broad range of roles, and salaries can vary depending on the size of the company you work for and your experience; average salaries in the US are $70,000+ for corporate finance jobs.

Risk management

As a risk management professional in finance, your role is to understand financial risk through close analysis of economic markets. This includes anticipating changes and designing strategies to futureproof the finances of an organisation.

You may mitigate financial risks for multinational corporations or smaller businesses – these can include charities and government bodies or as part of a compliance and governance team. You can also work for a consulting firm. While not typically the very best paid career in finance, entry level junior analysts in the US can expect to earn an average of around $60,000 to start, with average salaries comfortably exceeding $150,000 at more senior levels.

How to get started in finance

With a wealth of opportunities in finance, how do you get started in your career? There are some qualifications and skills you may need to pursue in order to apply for entry-level roles, though bear in mind that some of these positions will also provide training on an ongoing basis.

Some finance professionals have degrees in finance, while others pursue on-the-job training to progress to higher-level positions such as risk management.

You should also ensure that you are seeking out internships or apprenticeships as a positive way to develop skills and learn more about this sector. This can help you to decide what area of finance most interests you, and where you might like to work.

Building connections is essential, and internships can be an excellent way to do this, as well as networking at professional events. Even basic skills such as knowing how to handle a telephone interview can go a long way to securing an entry-level position in finance, starting at the internship level.

Does finance provide job satisfaction?

Job satisfaction is an important part of deciding on a career, and the finance sector has both pros and cons when it comes to this.

Finance roles can provide a high level of job satisfaction, especially for those who value continuous development and a dynamic and fast-paced environment. Due to how the finance world is so closely connected with world events, this level of excitement and challenge can be immensely satisfying.

However, it can also be harmful to overall job satisfaction if you find that this environment is stressful and too challenging on a day-to-day basis. The impact that finance has on the world is undeniable, but it does lead to huge amounts of competition and pressure. The long hours necessary in some roles can be a big downside. For the right kind of person, though, finance can be one of the most satisfying careers to pursue.

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What skills & qualifications are needed in finance?

While it is not always necessary to enter the finance world with a roster of qualifications under your belt, there are some skills and educational achievements which can be highly beneficial. We take a look at the different qualifications you may need to secure your dream job, or to take your first steps into the finance sector.

Undergraduate degree

An undergraduate degree is often necessary to apply for finance roles. While this does not necessarily have to be a finance-specific qualification, a BSc or BA in finance, economics or accounting can help you to understand the basics of finance.

Master’s degree

A Master’s degree in a finance-related field can give you a deeper knowledge of the financial sector and help you to narrow down your areas of interest.

It can also make you stand out when applying for finance roles, where you may be competing for jobs with others who only hold undergraduate degrees.

Completing a master’s degree in a finance related field of study can show commitment and dedication to working in the sector, which can be valuable particularly if you’re looking to move into finance from another career path like engineering.

MBA

MBA in finance provides you with education in finance in a way that is not specific to a certain industry or even country. It can help you to learn more about leadership in business and management in a variety of disciplines.

Not only will you learn intricate details of this kind of work, but you will also stand out when applying for roles, particularly at executive or management level, and can make valuable industry connections while studying.

CFA

The Chartered Financial Analyst (CFA) qualification is usually best undertaken once you have achieved an undergraduate degree in finance. This is an additional certification for those interested in pursuing careers in areas like wealth management, portfolio management and investing.

Awarded by the CFA Institute, it provides you with the highest qualification in managing investments. A CFA can be a valuable asset for a range of financial roles, and can help you to earn a higher salary.

The exams are considered some of the most difficult in the world, being a CFA charterholder will equip you with in-depth knowledge on a range of areas including portfolio management, valuation and financial statement analysis.

FRM

The Financial Risk Manager (FRM) certification is vital for risk management professionals. This is a globally recognized qualification and is expected if you work in a bank or a global company.

The FRM is a demanding certification, which is often pursued as part of professional development and by those looking to further their career. It’s not usually required at the entry level, as you need at least two years of relevant experience to pursue this qualification. However, for risk professionals who want to increase their value, the FRM can be a good choice.

CAIA

If you want to work in alternative investments then the Chartered Alternative Investment Analyst (CAIA) certification is a good place to start. You may be starting out and looking to pursue hedge funds or venture capital positions, or perhaps you are already established and want to develop your knowledge.

CAIA is great for building your professional CV and has options for those learning the fundamentals, as well as higher-level professional development.

Is finance a good career path for you?

Finance can be a satisfying and rewarding career path, especially if you have excellent mathematical and analytical skills. It is also helpful if you have good communication skills, willingness to learn and work hard on the job to provide your own insights and knowledge.

A dedication to learning and evolving is essential, as is the ability to do well under pressure. Those who can devise strategies and solutions, and keep up with current trends, will really flourish in financial careers.

With so many different opportunities and roles available globally, finance can be a fulfilling and varied choice of career for those who are willing to pursue the right training and development, and are excited by fresh challenges.

FAQs about a career in finance

Does finance pay well?

Yes, finance typically pays above average across all career levels. Entry-level positions in investment banking or hedge funds start at $100,000-150,000 in major US cities, while corporate finance analysts begin around $60,000-70,000. Mid-career professionals (5-10 years experience) earn $120,000-250,000 depending on the path, and senior roles like CFO or portfolio manager average $300,000-500,000+.

However, highest compensation correlates with longest hours and highest stress. Investment bankers earning $200,000+ in year three typically work 70-90 hour weeks. Corporate finance professionals earning $100,000 at similar experience levels work standard 40-50 hour weeks.

Location significantly impacts pay—New York, London, Hong Kong, and Singapore offer 20-40% premiums versus smaller financial centers.

For detailed salary breakdowns by role, see our Investment Banking Career Guide.

Are finance professionals in demand?

Demand varies significantly by specialization. Accounting, risk management, and compliance roles remain consistently in demand as regulatory requirements increase globally. These positions offer stable job security even during economic downturns.

Investment banking and trading roles are more cyclical—high demand during economic expansions, significant layoffs during recessions. Hedge funds and private equity are extremely competitive with limited positions available relative to applicants.

Emerging areas show strongest growth: fintech roles (combining finance and technology) are expanding rapidly, ESG investing creates demand for sustainability-focused analysts, and quantitative finance needs data science skills.

Overall outlook remains positive—finance employment is projected to grow 7-9% over the next decade, matching or exceeding overall job market growth. However, automation threatens some traditional roles like basic financial analysis.

For growth areas, see our Fintech Career Path Guide.

What is the highest-paying job in finance?

Chief Financial Officer (CFO) positions at large corporations average $421,000 but can exceed $10 million with bonuses and equity at Fortune 500 companies. However, reaching CFO level typically requires 15-25 years of progressive experience.

For earlier career stages, hedge fund and private equity professionals earn the highest compensation. Hedge fund analysts can earn $150,000-300,000 in years 1-3, while senior portfolio managers at top funds earn $1 million+ annually plus performance bonuses that can reach eight figures.

Investment banking managing directors (10-15 years experience) average $500,000-2 million at elite firms. Top traders at major banks or proprietary trading firms earn similar compensation but with higher variability based on performance.

For detailed compensation breakdowns, see our guides on Hedge Funds and Private Equity.

Is finance a stable career?

Stability varies dramatically by specialization. Accounting, insurance, and corporate finance roles offer above-average job security — these functions are essential regardless of economic conditions, making layoffs less common even during recessions.

Investment banking, trading, and sales positions face cyclical instability. Banks regularly cut 5-15% of staff during economic downturns, and entire trading desks can be eliminated if unprofitable. Hedge fund analysts face similar risks—funds close frequently, eliminating positions.

Geographic stability also varies. Major financial centers (New York, London, Singapore) offer more opportunities to transition between firms if laid off. Smaller markets provide fewer alternatives, making job loss more disruptive.

Overall, finance offers moderate-to-high stability, better than tech startups or retail but less stable than government or healthcare positions. Building diverse skills and maintaining professional networks significantly improves career resilience.

Is finance a stressful career?

Stress levels vary dramatically by role. Investment banking analysts and hedge fund managers experience extreme stress—90+ hour weeks during deal cycles, constant pressure to perform, demanding clients, and job security tied to deal flow or fund performance. Burnout rates in these roles are exceptionally high.

Corporate finance, accounting, and risk management positions typically involve moderate stress — deadline pressure around quarter-end or annual reporting, but generally predictable hours and lower stakes. These roles rarely require weekend work outside month-end/year-end periods.

Portfolio management and financial advising fall in between—moderate day-to-day stress with intense periods during market volatility. Managing other people’s money creates psychological pressure even during standard 50-hour work weeks.

If stress tolerance is low, target roles like corporate finance or accounting. If you thrive under pressure, investment banking or trading might suit you better.

Is finance hard to get into?

Breaking into finance is moderately difficult and varies significantly by target role. Entry-level corporate finance or accounting positions are accessible with a relevant undergraduate degree and strong internship experience—competitive but achievable for most finance students.

Investment banking, hedge funds, and top-tier consulting are extremely competitive. Elite firms recruit almost exclusively from target schools (Ivy League, top state universities, London School of Economics, etc.) and hire under 5% of applicants. Without target school credentials, breaking in requires exceptional networking, relevant experience, or alternative paths like starting in corporate finance then transitioning.

Certifications help but aren’t magic bullets. The CFA improves prospects for investment management roles, but won’t overcome poor academic credentials or lack of relevant experience.

Strategy: Pursue internships aggressively (sophomore and junior years), network extensively, and consider less competitive entry points if target firms don’t materialize.

For networking strategies, see our Easy Networking Tips.

Can I break into finance without a finance degree?

Yes, but it requires strategic positioning. Many finance professionals have degrees in economics, mathematics, engineering, or business—these backgrounds are readily accepted, especially if you complete relevant coursework (accounting, corporate finance, statistics).

For career changers from unrelated fields, you’ll need to demonstrate finance competency through other means: complete a finance-focused MBA, earn the CFA charter, or gain finance experience through career-adjacent roles (equity research from journalism, corporate finance from engineering project management).

Investment banking and hedge funds heavily favor target school graduates regardless of major—a computer science degree from Harvard opens more doors than a finance degree from a non-target school.

Accounting is the easiest finance specialization to enter without a finance degree—many accountants studied business, economics, or even liberal arts then completed accounting-specific coursework.

For career transitions, see Engineering to Finance Career Change.

What’s the typical career progression timeline in finance?

Investment banking follows a clear path: Analyst (2-3 years) → Associate (3-4 years) → Vice President (3-5 years) → Director (3-5 years) → Managing Director. Total timeline to MD: 12-15 years. However, many exit after analyst or associate level to private equity or hedge funds.

Corporate finance progression is slower: Analyst (2-4 years) → Senior Analyst (2-3 years) → Manager (3-5 years) → Director (5-7 years) → VP/CFO (varies). Reaching CFO typically requires 15-25 years total.

Asset management varies widely. Portfolio manager roles require 7-12 years minimum to build track record and credibility. Some analysts transition to PM within 5 years at smaller firms, while others spend 15+ years as senior analysts.

First promotion typically occurs within 2-3 years across all finance paths. Stagnation beyond 4-5 years at entry level signals need to change firms or specializations.

Is remote work common in finance?

Remote work availability varies dramatically by role type. Corporate finance, risk management, and accounting positions increasingly offer hybrid arrangements (2-3 days remote weekly) or full remote options, especially post-COVID. These roles involve computer-based analysis that doesn’t require physical presence.

Investment banking, trading, and hedge funds strongly resist remote work. Banks demand in-office presence for relationship building, client meetings, and team collaboration. Some firms allow 1 day remote weekly for senior staff, but junior employees typically require full-time office presence.

Financial planning and wealth management increasingly allow remote work since client meetings occur virtually. Many advisors now work fully remote, meeting clients via video conference.

Geographic location matters—New York and London firms tend to be stricter about office presence, while smaller markets or newer firms offer more flexibility. Expect limited remote work early career regardless of specialization.

How important are certifications like CFA for finance careers?

Importance varies significantly by career path. For portfolio management, equity research, and asset management roles, the CFA is highly valued—many job postings list “CFA or progress toward” as preferred qualification. The charter demonstrates investment knowledge and commitment, often leading to 10-20% salary premiums.

Investment banking rarely requires the CFA—MBA from a top school matters more. Same for private equity and hedge funds, where deal experience and track record outweigh certifications.

Corporate finance and accounting benefit more from CPA or MBA credentials than CFA. Risk management values FRM certification specifically.

Don’t pursue certifications just to “check a box”—they require 900+ hours of study. Only pursue if: targeting roles where it’s valued, genuinely interested in content, or seeking to overcome weak academic credentials.

For detailed certification comparisons, see our CFA vs CPA and CFA vs MBA guides.

What personality traits succeed in finance?

Analytical thinking is essential across all finance roles—you must process complex quantitative information, identify patterns, and draw logical conclusions. If math and data analysis feel burdensome rather than engaging, finance will be a constant struggle.

Stress tolerance separates top performers from burnouts. High-paying finance roles involve intense pressure: tight deadlines, demanding clients, high stakes decisions. If you need calm, predictable environments to perform well, target lower-stress finance roles (corporate finance, accounting) or consider other careers entirely.

Detail orientation matters tremendously—small errors in financial models or analysis can cost millions. Perfectionists often excel in finance, while those prone to carelessness struggle.

Communication skills are underrated—especially for client-facing roles (advisory, wealth management, investment banking). You must translate complex financial concepts for non-finance audiences.

Competitive drive and ambition help in high-pressure roles but can be counterproductive in team-oriented positions.

Phew, we hope the above gave you a good overview and framework to decide if finance is the right career for you.

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