Careers in Business Finance

Business finance is a big world with quite a few career opportunities and a wide pay range depending on the area of business finance you work in. Whether you've been in the field for a while or you're just graduating from college, business finance has a wipe variety of opportunities from chief financial officers to a financial planner. Let's take a look at some of the highest paying careers in business finance.

Corporate Finance

A career in corporate finance is all about finding money to run the business, grow the business, and plan for its financial future. Problem solving skills in this field are a must as they will be put to the test almost daily. Careers in corporate finance are generally stable, and success isn't always immediately apparent. When you work in corporate finance you have to view the big picture and work for future growth. It generally doesn't depend on how well you do today, but how well you perform over the long run. Some of the benefits of working in corporate finance are working within a team, you tackle business problems that really matter, you have opportunities to travel and meet new people, and generally the pay is very good.

One of the highest paying careers in corporate finance is that of a chief financial officer, or CFO. This position of management comes with a lot of responsibility, but with a lot of opportunity to prove your worth. The CFO is the one primarily responsible for managing the company's financial risks. They are responsible for record keeping, financial planning, budgeting and reporting. In some companies the CFO is also responsible for communicating financial forecast and performance to the analyst community. Obtaining a position as CFO is usually not something you can do right out of school, but is a position that can be gained through longevity with a company and proving yourself. A CFO position usually requires 10-19 years of experience in corporate finance, but pays $100,000 plus per year on average.

Accounting

If you are looking for a career that pays well right out of school, then you may look into becoming an accountant. On average, accounting graduates make $45,000 per year. A career in accounting is all about crunching numbers. An accountant records, verifies, and reports financial information for their clients. They help their clients prepare their business taxes and tax reports throughout the year. An accountant can work independently for several different clients or be employed full time by one client, as their employee.

One of the highest paying careers in accounting is to become a certified public accountant, or CPA. On average, a CPA makes $56,000 a year, but if you have your CPA license, you are more often considered for management positions, like a CFO, which can pay double, or even triple that. If you decide to work independently, what you are paid is directly dependant on how many clients you have and if you are in a management position in an accounting firm on not. This can be a very lucrative career if you are good at what you do.

Investment Banking

If you are looking for a career in helping companies grow, look no further than investment banking. An investment banking firm helps companies and the government issue securities, help investors purchase securities, manage financial assets, trade securities, and provide financial advice. An investment banker helps their clients raise money for projects, set up merger deals, fund projects without it going on the company's balance sheet, and redirect cash flow so a company's investors are getting more. If you are more the entrepreneurial sort, a career in investment banking just might be your cup of tea.