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What Do Finance Jobs Pay In 2022?

What Do Finance Jobs Pay In 2022?

September 15, 2022

The finance sector is one of the most important in the economy, and it is constantly changing. Around 1.1 million people work in finance in the UK, making it a popular yet competitive sector. In order to stay ahead of the curve, it’s important to know what to expect in terms of wages and salaries. This can help you to choose the right path early in your career.

In this article, we will explore what finance jobs will pay in 2022. We will look at different positions within the finance industry and how much employees can expect to earn. By understanding where the industry is headed, you can make better choices about your career path.

What is the financial sector and what does it include?

The financial sector is a broad term that includes jobs in banking, insurance, accounting, and investment. It also includes jobs in the stock market and other financial markets. The sector is important because it helps to allocate resources and manage risk. It is also responsible for creating economic growth.

There are many different types of finance jobs, but they can be divided into three main categories: investment banking, commercial banking, and central banking. Investment bankers help companies raise money by issuing stocks and bonds. They also work on mergers and acquisitions. Commercial bankers lend money to businesses and consumers. 

Within companies, there are also roles such as financial directors, financial managers and financial assistants. These roles are essential to allow businesses to operate efficiently and in line with regulations.

The rise of Financial Technology (fintech) has also opened up many new avenues to explore. Financial technology is a term used to describe companies that use technology to provide financial services. These companies are often startups that are looking to disrupt the traditional banking system.

What Do Finance Jobs Pay In 2022? CMD Recruitment

What do finance jobs pay in 2022?

The finance sector is well-known for being high risk and high reward. Those who choose to pursue a career in finance can expect to work in a highly pressured and stressful environment, but the potential rewards on offer are considerable.

In order to get an idea of what finance jobs will pay in 2022, we looked at salary data from Glassdoor, Total Jobs and Prospects to determine what you can expect to earn in different sectors. Here is a breakdown of what experts think you can expect to earn in different finance jobs in 2022:

Chief financial officers: £53,000 to £159,000

Finance directors: £95,000 to £120,000

Investment bankers: £30,000 to £165,000

Commercial bankers: £24,000 to £90,000

Financial controllers: £40,000 to £60,000

Finance managers: £27,000 to £60,000

Financial analysts: £23,000 to £52,000

Risk analysts: £24,000 to £57,000

Finance assistants: £21,000 to £24,000

This is just an overview of some of the most popular finance job titles at the moment, and actual salaries may vary between companies. When comparing remuneration packages, it’s important not to compare salaries directly. You also need to factor in benefits and bonuses, which can make a big difference to your overall earnings.

Benefits and bonuses in finance

The finance sector is one that is known for its high-risk and high-reward mentality. This means that salaries are often high, but so are the expectations. Many finance jobs come with long hours and a lot of pressure. In order to attract and retain the best talent, companies often offer generous benefits and bonuses.

Benefits can include private healthcare, pension contributions, gym memberships, and company cars. Bonuses are also common in finance, and they can be worth a considerable amount of money. Some will earn a percentage of what they have earned for their clients, while others will enjoy a share of the profits of their company. 

They are often performance-based, which means that they can fluctuate from year to year. Securing a bonus is never guaranteed, so it should never be part of your affordability planning, as this could lead you to live outside your means. While you could use a bonus as part of a deposit for a house or a car, it’s unlikely that it would be factored into affordability calculations, as it is not a guaranteed part of your income.

Career progression in finance

The finance sector is very competitive, and it can be difficult to progress your career if you’re not performing at the top of your game. That being said, there are many opportunities for those who are willing to put in the time.

The key to moving forward in the finance sector is to continually update your skills and make sure you have good commercial awareness. This means an awareness of what is happening in the financial sector, and how things like global political decisions will impact your sector. 

As the financial world becomes more centralised and connected, the risk to companies has increased. This means that financial security is going to be a key area of focus moving forward. Everyone in the finance sector could benefit from additional training in this sector, not just those that are tasked with managing security. 

What are the most in-demand finance jobs?

The most in-demand finance jobs at the moment are those that involve financial analysis and risk management. Companies are increasingly looking for employees who can help them make sense of complex financial data and identify risks

There is also a growing demand for financial technology experts. As more companies move into the digital world, they need employees who can help them navigate the new landscape. Fintech startups are particularly keen to hire workers with coding skills and experience in artificial intelligence and machine learning.

What does the future hold for the finance sector?

The future of the finance sector is difficult to predict, but it is clear that change is on the horizon. The introduction of new technologies is making traditional banking obsolete, and this is likely to continue in the years to come.

The rise of AI investing could reduce the need for individuals to make decisions, but there will still need to be some oversight. However, there will always be a need for experts who can help companies make sound financial decisions. As the sector evolves, those who are able to adapt and change with it will be the ones who succeed.

It’s also worth noting that the finance sector is becoming increasingly globalised. With the rise of online banking and mobile payments, it’s easier than ever for people to conduct financial transactions across borders. This is likely to lead to more opportunities for those with international experience.

In conclusion, the finance sector is evolving rapidly, and this is likely to continue in the years to come. Salaries are expected to remain high, but the nature of work is changing. Those who want to pursue a career in finance should be prepared to adapt to change and embrace new technologies.

What are some of the best finance jobs for those just starting their careers?

There are a number of entry-level finance jobs that are ideal for those just starting their careers. Here are some of the best options:

  1. Financial analyst
  2. Risk analyst
  3. Finance assistant

With a few years of experience, you could advance to a finance manager role, or begin training for an investment role. These are just a few of the many different finance jobs that are available to those just starting their careers. Salaries will vary depending on the specific role, but there is generally good potential for growth in the sector. So if you’re looking for a challenging and rewarding career, finance could be the perfect choice for you.

What skills do you need to work in finance?

There are a number of skills that are essential for those working in finance. There is an assumption that only those with strong numeracy skills will succeed in this sector, but that isn’t always the case. Here are some of the most important:

  • Analytical skills – You will need to be able to understand and interpret complex financial data.
  • Commercial awareness – You need to be up-to-date with what is happening in the financial sector and how it could impact your role.
  • Communication skills – You will need to be able to explain financial concepts to non-experts in a clear and concise manner.
  • IT skills – With more and more companies using digital platforms, you will need to be comfortable using computers and various software applications.
  • Problem-solving skills – You will often be confronted with complex problems that will require creative thinking to solve.

If you have these skills, you could be well-suited to a career in finance.

Closing thoughts

The finance sector is constantly changing, and this can make it difficult to predict what the future holds. However, one thing is certain: there will always be a need for experts who can help companies make sound financial decisions. If you’re interested in a career in finance, be prepared to embrace change and adapt to the ever-changing landscape. With a little hard work and dedication, you can achieve success in this exciting and challenging field.

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