The Five Best Entry Level Finance Jobs for Finance Majors

If you’re looking for a career change or you’re fresh out of college with a finance degree in hand, you have a range of potential careers in front of you. Landing that ideal job, however, is a challenge, and you may wonder where to start looking. As such, here are some of the top entry level finance jobs for 2014.

Loan Officer

Banks, from the local one down the street to the gargantuan institutions with branches on every corner, invariably need loan officers. A loan officer, as described at wisegeek.com, “functions as the liaison or intermediary between an institution that provides personal and business loans to consumers and the applicants for a loan.”

One website shows that the national median salary for loan officers is only roughly $40,000. However, as your knowledge and experience grow, so do your potential for earnings. High-level commercial real estate loan officers have a median salary of $125,000. The bureau of labor statistics reports that employment in this occupation should grow 14% between 2010 and 2020, which is comparable with most other jobs.

Accountant

Accounting is one of the top careers in the financial industry because it’s such a valuable position to companies across the United States. The financial job statistics tell the story: Accounting positions make up about 28% of finance jobs. In fact, an article posted in June 2013 at journalofaccountancy.com says, “the profession is thriving — with college enrollments, degrees awarded, and demand for new accounting graduates all reaching all-time highs.”

The availability of positions is certainly a draw, but the average salary is only $63,000 a year. As someone just starting out, your pay would likely be much lower than that. Another drawback is that you may have to work very long hours — accountants must meet their deadlines, even if it means that they have to drink gallons of coffee and stay up until sunrise to do it.

Financial Analyst

There are several types of financial analyst jobs, but the basics of the position remain the same. An analyst reviews and considers various statistics on investments, and then offers opinions on which investments are wise and which are not. Being an analyst can give you a solid foundation for a good position at a money management firm. Investment analysts make a good salary, but it is a difficult field to break into. Investopedia.com gives more information on the different types of analyst jobs.

The average salary for an analyst is a little under $68,000, with much potential to earn even more. If you excelled in school and are ready for a challenging but rewarding career as an analyst, you may want to head to New York or Chicago. Both of these cities are home to a lot of opportunities in the financial sector.

Junior Tax Associate

As the cliché says, “the only things that are certain are death and taxes.” Many people are waiting on reform to make taxes simpler and ease the headache. However, even if the reform happens, people and businesses will still need help figuring out this aspect of their finances. That is why a position as a junior tax associate is one of the best entry level finance jobs.

The salary is not as shiny as some of the jobs listed above, but the experience and knowledge you gain can serve as a valuable launching pad for more opportunities later on.

Financial Auditor

An auditor keeps a close eye on a company’s financial statements, checking for accuracy and any red flags. This is a competitive field, since there is so much opportunity for growth and it is such a high-trust position. It isn’t unusual for auditors to have to work more than 40 hours a week, so it’s another job that might require high caffeine intake and a lot of personal ambition.

To increase your chances of landing a job as an auditor, consider specialty training beyond your bachelor’s degree. It will help you stand out in a pool of applicants.

In 2014, the world needs more number-crunchers and driven individuals to analyze, audit, and review its financial matters. Whether you’re stepping out of college with a shiny new degree or looking for an exciting career change, one of the above jobs could suit you well.

This article was brought to you by Annie Davis.