7 Careers You Can Do with a Finance Degree Other Than Banking

Accountancy is always a popular career path for finance graduates. Accountants are employed by companies and individuals to assist with financial business issues such as taxation, analyzing profit and loss, budgeting and detecting fraud. Very close attention to detail is essential, plus communication skills to convey complex financial information to colleagues, senior management and clients. In-house accountants prepare profit and loss statements, accounting reports and key information for annual reports, plus other financial tasks. Alternative career paths in accountancy include forensic accounting, tax advisors and chartered accountancy.

Typical salary: According to US News, accountants in the US made a median salary of US$69,350 in 2017. The best paid 25 percent made US$91,770 that year.

A financial manager or CFO (Chief Financial Officer) is responsible for providing financial guidance and support to clients and colleagues. Employers come from a wide range of industries in both the public and private sectors. In larger companies the role may be more concerned with strategic analysis, while in smaller businesses you might be responsible for the collection and preparation of accounts. Other responsibilities can include managing budgets, arranging new sources of finance and liaising with auditors to ensure annual monitoring is carried out. Financial manager/CFO are senior roles so will require progression within a company.

Typical salary: According to Indeed.com, the average salary for a financial manager in the US is US$84,109 per annum, but salaries as high as US$208,000 are reported.

Actuaries evaluate, manage and advise on financial risk. They use financial and statistic theories to assess the likelihood of a particular event and the possible financial costs. With this knowledge they can design creative ways to reduce the likelihood of undesirable events occurring and decrease the impact of undesirable events that do occur. The study of uncertain future events by actuaries are of special concern to insurance and pensions companies, but actuaries can work in a wide range of sectors. They are highly skilled individuals and as such are often in high demand. Work is high-pressured and you may be expected to work overtime frequently.

Typical salary: Actuaries tend to receive very good remuneration, with Indeed.com reporting that the average salary for an actuary in the US is US$112,085 a year, but it can be much higher, with salaries of US$240,000 also reported.

External auditors examine financial records and other data to provide businesses, investors and regulators with a clear idea of how they’re performing, plus recommendations for improvement. Their work can be split into two distinct areas – a financial audit, examining a company’s financial statements and records, or a corporate/non-financial audit to help companies solve specific business problems. There are many companies who employ external auditors, most famously the ‘big four’ accounting firms: Ernst & Young, Deloitte, KPMG and PwC; however, there are many other mid-tier and smaller firms also providing rewarding employment.

Typical salary: Indeed.com reports the average salary for an external auditor in the US is US$60,658, although salaries of up to US$141,000 are reported.

Financial analysts collect and analyze financial data to guide the investment decisions of their employer – this could be an individual, a corporation, a non-profit organization or the government. You’ll recommend the best course of action when identifying challenges and need to stay aware of market trends and investment opportunities in your specialist area. A career as a financial analyst will suit data-focused and computer literate finance graduates, with great strategic thinking skills and an affinity for statistics. Other related roles include credit analysts and budget analysts.

Typical salary: US News reported that financial analysts made a median salary of US$84,300 in 2017, with the best-paid 25 percent making US$114,980 that year.