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Examples Of Salary And Demand In Finance

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Salary and Demand in the Finance Industry

According to the U.S Bureau of Labor Statistics, employment opportunities for the sector of business and financial operations has estimated a growth of 632,400 new jobs, or an 8% rise from 2014 to 2024. In fact, the Bureau states that “the median annual wage for business and financial occupations in 2016 was 66,530, higher than the median annual wage for all occupations of 37,040” (U.S. Dept of Labor). As a future University of Houston-Downtown graduate obtaining a bachelor of Business Administration degree with a major in Finance and investment management, I hope to be able to pursue a successful career within the financial field. Seeking a career in the finance industry can lead to many …show more content…

In the following table (see table 1) we can further understand the projected salaries and demand of someone who might want to pursue a job within the finance and banking sector.

Table 1 Average national salary for various financial professionals in 2016 and 2017 and their expected job growth

Source: U.S. Department of Labor’s Bureau of Labor Statistics and Robert Half 2017 Salary Guide
Note. Exact salary varies due to factors affecting actual pay such as benefits, company size, experience, skills, certifications, and advanced education

Analyzing table 1, we can see that expected job growth from 2014 to 2024 for analyst positions and lower to mid- level employees to be 12%; much higher than the estimated 7% national average growth of all occupations combined. In fact, financial analysts are becoming one of the fastest growing jobs, especially as more organizations are relying on data provided from information systems and the demand for analysts to help provide insight and knowledge from this information. Salary for financial analysts is also increasing with the demand for experienced and qualified candidates as shown from the 4.1% increase of pay from 2016 to 2017. As the job title flows down the table and the level of skills and education increases, average pay rises to meet the level of work. However, we can also see that the % of change of salary from 2016 to 2017 as one rises to upper level management is decreasing. Additionally, job growth for

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