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 eight jobs in accounting and finance below that pay well.
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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 $50,000 per year, and with 10 years of experience, you can make up to $75,000. Successful collections professionals may also be able to earn more with bonuses and other compensation.
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.
The majority of controller positions require degrees in finance or accounting along with numerous years of experience. On the low end, these positions pay around $80,000 to $90,000 annually. On the high end, professionals can earn $120,000 to $150,000 or more per year.
Accounting supervisor is an umbrella term that refers to professionals that manage accounting teams or departments. They might oversee departments such as accounts payable, accounts receivable or even payroll. Pay depends on experience and the size of the department being overseen.
Starting pay for accounting supervisors can be around $60,000 to $70,000. With five or more years of experience, professionals in these positions can earn as much as $80,000 to $90,000 per year.
Business analysts use a variety of skills, including data analysis, accounting, critical thinking and report writing, to help organizations make data-backed decisions and plan for the future. The duties of business analysts vary by company but might include responsibilities such as trending hiring and attrition numbers to help make staffing plans and creating financial reports to support accounting decisions.
Starting out, qualified business analysts can make $72,000 to $85,000 per year. With 10 or more years of experience, professionals in these positions can command annual salaries of $85,000 to $100,000 or more.
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External auditors are certified accountants that audit the financial records of companies to provide necessary certifications for tax, regulatory, compliance, or reporting purposes. These accountants can work for themselves as independent contractors who build their own client list or for companies that offer external auditing services.
Either way, start pay ranges from around $65,000 to $80,000 per year. External auditors with 10 years of experience can earn as much as $100,000 annually.
Bookkeepers do exactly what the title suggests: They keep the books for businesses of all sizes. That means entering debits and credits, ensuring books and reports balance and potentially completing some other basic accounting work.
Earning potential depends on the type of company you work for, your own experience and your geolocation. In larger cities, such as Toronto, Calgary, Vancouver and Ottawa, for example, bookkeepers may be able to start at $60,000 to $80,000 per year. In non-metro areas, average starting pay is around $50,000. Bookkeepers can earn more with experience, reaching annual salaries as high as $70,000 to $80,000.
risk management analyst
Rick management analysts work to evaluate the financial risk of a business or various business activities, including expansions, new product lines or mergers and acquisitions. They also work with leadership teams to create strategies to minimize financial risks for the business.
Starting salaries for financial professionals in this niche are $60,000 to $75,000 a year. Earning potential typically rises with experience, moving as high as $95,000 annually on average.
Financial analysts are similar to business analysts, but they work exclusively in the realm of money. Typically, they look at trends and data to provide businesses and others with advice and strategies on how to earn or make 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 $60,000 to $75,000 annually and up to $95,000 with more experience. Professionals in cities such as Montreal and Toronto tend to earn more than their counterparts in other areas.