Hundreds of roles exist in the fields of finance and accounting that are in high demand and pay well. What you can do in finance and accounting is vast, from general accounting helping small businesses to more specialized work, such as budget analysis. Someone wanting to go into this work area may want to consider where they would be the best fit.
Before settling into a career, many candidates navigate the industry with contract finance jobs. They will help you gain experience and try different positions before you choose your ideal long-term prospect.
Here are the best careers in finance and accounting that pay well, offering lots of opportunities:
1. General Accountant Careers
An accountant prepares and examines financial records on behalf of small businesses. They ensure what is in these records complies with the law and is accurate.
Continually, a general accountant helps businesses of all types, shapes, and sizes year-round manage and prepare financial statements. Every organization needs an accountant.
2. Investment Banker Careers
An investment banker is a financial advisor to the corporation. Investment bankers help a business raise capital by issuing stocks and bonds. They help advise on mergers and acquisitions and complex financial transactions.
Investment bankers examine revenues and profits and seek to help companies maximize them through smart investments and careful financial movements.
3. Auditor Careers
An auditor is typically hired by an organization to look at risk and ensure an organization fully complies with regulations. They test internal controls and find areas of improvement.
Sometimes, an auditor may be hired independently or work for an organization that audits other companies, such as a regulatory body.
4. Revenue Officer Careers
A revenue officer works on behalf of a government agency, such as the Canada Revenue Agency or a private collection agency. Their job is to collect taxes or fees on behalf of the organization.
At times, one is also tasked with evaluating a payer’s situation to determine if a payment plan is appropriate or what the best way forward is to collect what is owed.
5. Financial Analyst Careers
A financial analyst interprets financial data and advises businesses on key financial moves. An analyst examines economic and business trends, investment opportunities, and financial risks.
They make projections based on historical data to ensure a business makes informed, educated financial decisions.
6. Financial Advisor Careers
While a financial analyst works for businesses, a financial advisor works for everyday individuals. A financial advisor guides clients on how to best manage their finances.
They let clients in on the best financial products for their long-term goals and often work across the long term to keep individuals on the right path.
7. Risk Manager Careers
A risk manager identifies a business’s financial risks and looks at ways to minimize the potential of financial damage to the organization.
Risk managers collaborate with others, particularly operation managers, to best manage these risks and forecast the likelihood of future threats. They also advise on insurance policies and the use of risk management tools.
8. Budget Analyst Careers
A budget analyst focuses exclusively on how to best manage a budget. They monitor budget performance and track spending, ensuring that how the company behaves financially aligns with what was planned in the budget.
A budget analyst must ensure the budget is accurate, complete, and reasonable. It is also up to them to ensure the budget complies with all internal standards and industry regulations.
9. Chief Accounting Officer Careers
A chief accounting officer, or CAO, is the leader of a business’s accounting department. They manage the day-to-day operations of an entire organization’s accounting.
They prepare budgets, and financial reports, lead staff, assemble audited financial statements, and author presentations relating to the financial position of a business.
10. Chief Financial Officer Careers
A chief financial officer, or CFO, is a senior corporate officer who oversees and manages the financial risks of a corporation. They are involved with financial planning, handling cash flow, company performance, liability, shareholder relations, and budget and expenses and report to the CEO.
After someone reaches this level in their finance and accounting career, it can be considered the pinnacle of how far one can come, at least working for a single organization.
11. Controller Careers
A controller is a position just below the CFO. They oversee finances and review financial data, generating reports based on this analysis and research before presenting them to top-level management.
A controller is all about preparing reports and making predictions and may also be involved in creating policies and procedures. Controllers also work with compliance specialists to verify that the financial information analyzed adheres to all relevant laws and regulations.
12. Credit Analyst Careers
A credit analyst is a person who approves or rejects loan applications for an organization. Credit analysts exist for both individuals and businesses. They must evaluate an applicant’s creditworthiness and analyze the profitability on behalf of the lender.
Credit analysts examine the information provided by credit bureaus, reporting services, and banks before making a final decision.