The average starting salary for someone with a finance degree is $60,000. This figure makes a finance degree one of the top most valuable college degrees and one of the only degrees associated with high entry-level pay rates not in a tech field. Other majors such as Computer Science, Electrical Engineering, Mechanical Engineering, Chemical Engineering and Industrial Engineering, are also classified among the majors with the top salaries.
The amount earned from a finance career varies based on which type of position is pursued. For example, a financial analyst with a finance degree is likely to earn an average salary of nearly $77,000, while a real estate appraiser with the same degree is likely to earn around $49,000.
Type of Career Affects the Finance Major Salary
Accountants and auditors earn a median yearly salary of $63,500, while budget analysts earn $69,000. Finance majors who pursue careers as compensation, benefits and job analysis specialists or cost estimators make salaries between $58,000 and $59,000 on average. These professionals organize a business's benefits programs or estimate the cost that it takes to create a certain product. In contrast, financial examiners who advise businesses on investment strategies earn average salaries of $75,000 to $76,000.
Those who graduate with a finance degree and opt for a business career in a bank or insurance company typically spend their days evaluating bank loans or insurance applications, both of which pay between $59,000 and $62,000.
Many people use their finance degrees to become analysts. For example, market analysts project how well a product will sell, and management analysts analyze how to make companies more productive. Management analysts earn average yearly salaries of $77,000, while market analysts earn just over $60,000. (For related reading, see: A Guide to Financial Careers.)
Different Finance Major Careers
There are numerous careers you can explore with a finance major. Others include:
- Financial Advisor
- Financial Manager
- Investor Relations Associate
- Credit Analyst
- Commercial Real Estate Agent
- Business Teacher
There are a number of other types of careers associated with finance degrees. The salaries of each will vary depending on the position and the company. Finance occupations are expected to continue to be in demand, specifically those in fields such as financial analyst and business systems analyst. Those who are fresh out of college and seeking entry-level positions can also expect to find continued job growth. Because of this, job applicants should be prepared for a competitive career field.