Being the professional behind the scenes, keeping track of the money typically pays well.
Whether you're keeping the books or working to bring in the cash flow, your employer depends on you for precision, discretion and honesty.
Add to that the fact that you need strong analytical skills to manage numbers, and you can see why employers are often willing to pay to hire the best talent in the accounting and finance spaces.
Whether you're ready to fight for the compensation you deserve or you find salary negotiation intimidating, as a finance professional, you have opportunities to earn more.
Check out the best-paying jobs in finance.
credit and collections professional
Collections and credit professionals help keep business bottom lines positive by working past due accounts.
Duties can include identifying accounts that need remediation, using all legal methods available to collect funds and working with customers on payment arrangements that work for everyone.
Starting pay for these types of jobs is around $105,000 per year, and with 10 years of experience, you can make up to $125,000. Successful collections professionals can earn more with bonuses and other compensation.
Credit and collections professionals can be one of the best-paying finance jobs.
controller
Controllers can work for any size business, and their duties vary depending on the type of organization they work for. Typically, this is a management or even executive-level accounting position.
In smaller organizations, controllers may oversee all financial decisions and reports. In enterprise organizations, the controller's responsibilities may be strictly related to regulatory financial reporting and ensuring the overall quality of accounting activities in the company.
Most controller positions require degrees in finance or accounting and numerous years of experience. On the low end, these positions pay around $115,000 to $189,000 annually.
On the high end, professionals can earn $195,000 to $315,000 or more annually, making it one of the best-paying finance jobs.
payroll manager
Businesses need someone to manage their payroll operations. This requires a lot of organization, attention to detail and knowledge of government regulations related to pay structure, taxes and employee benefits.
Payroll managers typically have a degree in HR or accounting and several years of experience in the field.
Not only do payroll managers play a critical role in the workplace, but they also are one of the best-paying jobs in finance, more than other accounting and finance positions.
The salary for payroll manager positions ranges from $89,000 to $120,000 annually after 4 to 10 years of service.
Additionally, successful professionals can expect bonuses and other compensation when they exceed performance expectations.
A job as a payroll manager is an excellent way to earn a strong salary with benefits.
financial analyst
Financial analysts are similar to business analysts, but they work exclusively in the realm of money.
They look at trends and data to provide businesses and others with advice and strategies for earning or making more money.
Financial analysts might work for banks or brokers, but they can also work for enterprise organizations.
New financial analysts with the right qualifications and skills can make $80,000 to $100,000 annually and up to $120,000 with 4 to 10 years of experience.
Professionals in cities such as Montreal and Toronto tend to earn more than their counterparts in other areas.
accounting manager
Accounting managers are central to an organization's financial management, overseeing financial reporting, budgeting, and ensuring the company's financial well-being.
They create and analyze financial statements, manage cash flow, and collaborate closely with top executives, including Chief Financial Officers (CFOs).
Starting salaries for accounting managers can be substantial, frequently exceeding $112,000 annually.
With years of experience and a successful track record, seasoned accounting managers can earn annual incomes of $160,000 or more.
Their high compensation reflects their critical role in managing and optimizing an organization's financial resources, which is essential for its growth and sustainability.
assistant controller
Assistant Controllers hold key positions within an organization's finance and accounting departments, providing crucial support to the Controller and Chief Financial Officer (CFO).
They are responsible for various financial functions, including financial reporting, budget management, and compliance with accounting standards.
Salaries for Assistant Controllers can vary based on industry, location, and experience. However, they typically enjoy competitive compensation, with starting salaries often exceeding $100,000 per year.
As they gain experience and expertise, Assistant Controllers can see their annual incomes rise to $150,000 or more, reflecting their integral role in maintaining the organization's financial health.
finance director
Finance Directors hold top-tier positions in an organization's financial leadership hierarchy, overseeing all financial operations and strategies.
Finance Directors work closely with executive teams, including the Chief Financial Officer (CFO) and other senior managers, to provide financial guidance and support strategic decision-making. They often have extensive experience in finance and hold advanced degrees or certifications.
Compensation for Finance Directors is substantial and commensurate with their level of responsibility.
Starting salaries can exceed $100,000 per year, and experienced Finance Directors can earn annual incomes well above $150,000 or even higher, reflecting their critical role in driving the financial success and sustainability of the organization.
enjoy competitive pay in your next finance and accounting job
Pay isn't everything, and you should consider negotiating other perks and compensation when you take on a new position. But pay is important, so you should consider all your options before saying yes to an offer.
By preparing yourself with the latest industry knowledge, you'll be well-positioned to land a lucrative finance and accounting job that offers excellent pay and many other benefits.
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