Salary Statistics: What’s the average salary for a graduate career in the Business Finance industry?
How much can I earn on average with a career in the Business Finance industry?
Because of the technical and specific skills required of Finance professionals, in general, their salaries tend to be higher than in other industries. An average salary for entry-level graduates is $52,400 and an average salary for experienced professionals $73,500, with some occupations making significantly more than this at both levels. According to the Bureau of Labor Statistics, employment within the Business and Financial industry is expected to grow 10% by 2026.
What occupation within Business Finance pays the most?
According to average salary statistics taken from PayScale.com, Finance Directors on average pay the most ($73,000) at the graduate level, while experienced Finance Directors can expect to earn $129,000 on average. Accounting Assistants and Bookkeepers seem to have the lowest average salaries ($32,500 at entry-level and $39,500 for experienced professionals) as well as the smallest salary-growth potential across their career.
Average salaries of popular occupations within Business Finance Majors
| Occupation | Average entry-level salary (0-5 years experience) | Average experienced salary (10+ years experience) |
|---|---|---|
| Finance Director | $73,000 | $129,000 |
| Finance Manager | $72,000 | $99,000 |
| Financial Advisor | $52,000 | $98,000 |
| Financial Controller | $66,000 | $87,000 |
| Financial Analyst | $57,000 | $70,000 |
| Auditor | $51,000 | $63,000 |
| Credit Analyst | $45,000 | $54,000 |
| Accounts Payable Manager | $43,000 | $56,000 |
| Accounting Assistant | $33,000 | $39,000 |
| Bookkeeper | $32,000 | $40,000 |
Do I need to study to work in Business Finance?
In general, working within the Finance industry will require a minimum of a bachelor’s degree in a field related to Business or Finance. But this is not always the case. According to PayScale.com, only 21% of Buyers hold a university degree with a business finance major. In contrast, 76% of Certified Public Accountants held a business finance degree.
You can see the full breakdown of occupations vs percentage of workers who hold majors below:
| Occupation | % workers with major |
|---|---|
| Certified Public Accountant | 76% |
| Staff Accountant | 71% |
| Auditor | 69% |
| Financial/Securities/Investments Analyst | 69% |
| Cost Accountant | 67% |
| Corporate Controller | 67% |
| Accounting Supervisor | 64% |
| Accounting Manager | 64% |
| Financial Controller | 62% |
| Internal Auditor | 61% |
| Accounting Analyst | 57% |
| Accounting Assistant | 57% |
| Full Charge Bookkeeper | 56% |
| Bookkeeper | 54% |
| Credit Analyst | 51% |
| Finance Director | 51% |
| Vice President (VP), Finance | 51% |
| Financial Analyst | 50% |
| Portfolio Manager | 49% |
| Human Resources (HR) Generalist | 47% |
| Accounts Payable Specialist | 46% |
| Financial Advisor | 45% |
| Accounts Payable Manager | 42% |
| Payroll Manager | 39% |
| Finance Manager | 39% |
| Supply Chain Analyst | 37% |
| Payroll Specialist | 35% |
| Payroll Administrator | 31% |
| Supply Chain Manager | 31% |
| Buyer | 21% |