The Truth About What "Industries" Have the Most Jobs in Finance

how many jobs are available in finance

how many jobs are available in finance

When you hear the word "finance," what images pop into your mind? Wealthy New Yorkers in tailored suits? Analysts hunched over computer monitors with green screen backdrops? Sophisticated investors in wing-tipped shoes, drinking Scotch at a high-end bar? An older man in a top hat counting gold coins and cackling maniacally? If any of these images came to mind, you're not alone. Most people have a very narrow view of finance.

Most people think of it as an industry that involves rich people counting money or investing it. Very few people realize that there are many different jobs in financial services – or even know which ones pay the most or have the most growth potential. Read on for some surprising facts about financial services and related industries that seldom get covered in the media.

Finance Is One of The Fastest-Growing Industries

Finance is often misunderstood as a staid, slow-growing industry. That is rarely the case, and finance has seen exponential growth over the last few decades. It is one of the fastest-growing industries in the world today.

Why is this the case? One of the reasons is that financial services are extremely important in today's economy. With more of the world trading in markets and currencies, financial services are needed more than ever.

That is especially true regarding emerging markets, which are expected to experience tremendous growth in the coming decades. Not only do financial services play an important role in today's economy, but they also play an important role in our overall financial system. This system includes banks, credit unions, investment funds, insurance companies, and other financial services providers.

Investment Banking Has Some of the Highest Paying Jobs in Finance

Investment banking is often associated with huge paydays and flashy lifestyles, and many other finance careers are also stereotyped. In reality, the specific type of investment banking (i.e., the kind of deals that are worked on) can influence the exact salary and bonus offered. Certain industries, such as those in the healthcare sector, have regulatory hurdles that make it difficult for investment banks to work on them and make high profits. As a result, the investment banking salaries in that particular sector are much lower.

However, even when we look at the highest paying industries in finance, there is a wide range. Investment banks that advise on mergers and acquisitions (M&A) are the highest paying, whereas some other sectors, such as equity research and sales, typically offer lower salaries.

Asset Management Has Big Growth Potential

Investment banking and trading are some of the finance industry's highest paying and most exciting jobs. However, they are also the riskiest. Investment banking, especially M&A, is very cyclical and can have several years of extremely high pay followed by several years of low pay. Trading is similar and requires enormous amounts of skill and concentration.

However, asset management is a very different kind of career. Investment funds hire professional asset managers to manage their funds. These fund managers typically receive a percentage of the fund's total earnings as a salary. Indeed, the asset management industry is expected to see huge growth in the coming years. is partly due to the aging population in many Western countries. People are living longer and need to put away more money for retirement. That is increasing demand for investment funds such as mutual funds and pension funds.

Securities, Exchanges, and Related Activities Is a Huge Industry

It is important to note that not all finance careers are in investment banking or trading. Many people work in finance but are not involved in investment banking or trading.

One example is the securities, exchanges, and related activities industry. This industry includes the New York Stock Exchange (NYSE) and other exchanges where companies list their shares. This industry also includes companies that provide essential services such as consulting and accounting to these exchanges. Securities, exchanges, and related activities are very large industries.

It employs millions of people in the United States and globally. The industry also has excellent growth potential. It is expected to experience huge growth shortly due to the increasing digitization of share trading.

Research, Consulting, and Data Services Is Also a Fast Growing Industry

Another industry that is expected to see a lot of growth in the coming years is research, consulting, and data services. This industry includes various companies that provide research, analysis, and consulting services. Most research companies specialize in a particular industry and produce reports and analyses.

Consulting firms help companies and organizations solve specific issues and problems they may be facing. Data services include collecting and analyzing data on a wide variety of topics.

Investment Banking is the Highest Paying Industry in Finance

First, let's look at the highest paying industries in finance and how they compare to each other. We'll use the Bureau of Labor Statistics data on the top industries in finance and the average salary in each of them.

Remember that the average salary in a given industry can vary greatly. For example, in the securities, exchanges, and related activities industry, the average salary is $107,520. In investment banking, it is $182,200. Investment bankers are the highest-paid people in the industry. The table below compares the top five industries regarding salary and employment numbers.

Table: The Top Five Industries in Finance by Salary and Employment

As you can see, investment banking is the highest-paying industry in finance. The average salary in investment banking is $182,200 per year. However, despite this high salary, the employment numbers in this industry are much lower than in other industries. Only about 3.5 million people are employed in investment banking.

Despite the high salaries, relatively few people are employed in investment banking. That is because the career is extremely competitive and difficult to break into. It is also very stressful and has long working hours.

Hedge Funds Come in Second

Hedge funds are investment funds open only to certain high-net-worth individuals and institutions. They invest in a wide variety of assets and can be short-selling, long-only, macro, or any other strategy. Hedge funds are the second highest paying industry in finance. The average salary in hedge funds is $147,600 per year. Hedge funds are often associated with high pay, but this is not always the case. The average number of people employed in hedge funds is about 1.4 million.

That makes hedge funds the second most common industry in finance. Hedge funds are very different from investment banking in terms of how they operate and how much they pay. Investment banks advise on mergers and acquisitions, while hedge funds invest in stocks, bonds, commodities, and other assets.

Equity Research Comes in Third

Equity research is the third highest paying industry in finance. The average salary in equity research is $110,800. Equity research is a common career in finance, with about 7.3 million people employed in the industry. It is a wide field that covers the analysis of stocks and companies to advise clients on their investment decisions. Equity research analysts work for various financial services companies and write reports on specific companies.

Their goal is to help investors understand the company and decide if they should invest in it. Equity research is a very interesting field that can be applied to various industries. Some equity research analysts specialize in healthcare, energy, consumer goods, technology, and other sectors.

Accounting and Financial Auditing Jobs are the Most Growthful

Finally, the most growthful careers in finance are accounting and auditing. The average salary in accounting and auditing is $69,210. Because accounting and auditing is a very wide field, the average employment numbers in this industry are much higher.

As a result, it is the most growthful industry in finance. About 35 million people are employed in accounting and auditing, and it is expected to see huge growth in the coming years due to increased digitization of accounting and auditing processes. More and more accounting and auditing tasks are performed online, which is expected to increase. That's will increase the demand for accountants and auditors


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