How Many Jobs Are Available in Finance?

The finance industry is among the most dynamic and lucrative sectors in the global economy. Financial analysis and investment banking, together with individual financial advice and fintech, are some of the many sectors that make up the financial sector. With so much significance placed on it, one would wonder, if to pursue a career in this sector: How many jobs are there in finance? And perhaps more importantly, what are the most in-demand jobs?

In this comprehensive guide, we're going to break down the current job scenario in finance, the kind of jobs being offered, anticipated growth, and how one's skills and qualifications can land them a job in a stable, high-paying job in the industry.

The Big Picture: Job Availability in Finance

Based on the most recent data from the U.S. Bureau of Labor Statistics (BLS), the finance and insurance sector employs approximately 9.5 million workers in the United States alone. That is a significant portion of the workforce, and it is only going to grow.

Projections from BLS anticipate that business and financial operations occupations will experience 7% growth between 2022 and 2032, higher than the average for all occupations. This translates to about 911,400 new jobs in the economy over the decade.

Globally, the numbers are even more impressive. With emerging economies opening up to financial services and technology changing traditional banking formats, there is an increasing demand for skilled finance professionals. India, China, and countries in the Middle East are witnessing a recruitment boom in banks, insurance companies, investment houses, and fintech firms.

Why Is Finance a Hot Job Market?

There are numerous important reasons finance continues to attract job seekers:

1. Diverse Career Choices

Finance is not all about Wall Street. No matter what your interest in data, whether you enjoy interacting with people, or have an affinity for numbers, there is a finance career for you.

Some of the most sought-after categories are:

Investment Banking Corporate Finance Financial Planning and Analysis (FP&A) Risk Management Insurance Accounting Fintech and Digital Banking Wealth Management Compliance and Regulatory Affairs

2. High Earning Potential

Careers in finance typically have high salaries, bonuses, and compensation. Junior roles even in financial institutions typically earn higher than the industry rate.

For example:

Financial Analysts earn a median annual income of $96,220 (BLS 2023). Personal Financial Advisors earn about $95,390 per year. Hedge Fund Managers and Investment Bankers can easily earn into six or even seven figures with experience.

3. Global Demand

As globalizations and the digital economy affect the business world, more than ever, financial skills are required. Financial professionals may work anywhere in the world, and foreign experience may be a very valuable asset.

How Many Jobs Are There in Significant Finance Segments?

Let's break down some of the most notable finance careers with regards to job availability:

1. Financial Analysts

Employment in the U.S.: Over 300,000 Projected Growth: 8% (2022–2032) Job Description: Analyze financial data to guide business investment.

2. Accountants and Auditors

Employment in the U.S.: Over 1.4 million Projected Growth: 4% (2022–2032) Job Description: Prepare and examine financial documents, ensure taxes are paid on time, and analyze financial performance.

3. Personal Financial Advisors

Major U.S. Jobs: About 280,000 Projected Growth: 13% (2022–2032) Job Description: Advise clients on investments, taxes, retirement, and estate planning.

4. Financial Managers

Current U.S. Jobs: Over 800,000 Projected Growth: 16% (2022–2032) Job Description: Oversee the financial health of organizations and guide long-term financial planning.

5. Insurance Underwriters and Actuaries

Current U.S. Jobs: Around 150,000 (combined) Projected Growth: 5% to 20% depending upon specialization. Job Description: Assess risk and determine insurance coverage terms and premiums.

6. Fintech and Blockchain Experts

Current Jobs Worldwide: Estimated 500,000+ and rising Projected Growth: Exponential (not yet fully accounted for by BLS) Job Description: Develop and deploy technologies that facilitate digital banking, crypto, and decentralized finance (DeFi).

What Education Is Needed for a Career in Finance?

The financial sector puts high premium on experience and education. Here are what employers value most:

Regular Degrees:

Bachelor of Finance, Accounting, Economics, or Business Master of Business Administration (MBA) for senior-level positions Certified Financial Planner (CFP) for financial planners Chartered Financial Analyst (CFA) for investment professionals CPA for accountants

Value-Added Certifications

CFA (Chartered Financial Analyst)

CPA (Certified Public Accountant)

CFP (Certified Financial Planner)

FRM (Financial Risk Manager)

Series 7 and Series 63 Licenses for stockbrokers

Skills That Set You Apart

Not all finance careers involve crunching numbers. The most successful finance professionals have a good foundation in both technical and soft skills, including:

Analytical reasoning Excel and financial modeling Data interpretation Communication and presentation Law and regulation knowledge Financial software knowledge (e.g., SAP, QuickBooks, or Bloomberg Terminal) Coding (Python, SQL) – especially for fintech roles

Where Are the Finance Jobs?

Finance jobs are found all over the country, but some cities and states are financial hotbeds:

In the United States

New York City, NY: Wall Street, investment banking, asset management Chicago, IL: Insurance, trading, accounting San Francisco, CA: Fintech, venture capital Charlotte, NC: Banking Boston, MA: Asset management, hedge funds

Global Hotspots:

London, UK Hong Kong Singapore Dubai, UAE Frankfurt, Germany Toronto, Canada

Remote work has also made finance job availability more accessible. Flexible or remote options are now available for many accounting, analysis, and consulting jobs.

Entry-Level vs. Senior-Level Job Availability

Entry-Level Roles:

Finance boasts a strong pipeline of opportunities for graduates. Standard entry-level jobs are:

Junior Financial Analyst Junior Accountant Risk Analyst Banking Associate Credit Analyst

These will include internships or co-op experience but are more accessible than many people understand.

Mid-to-Senior-Level Jobs:

With some experience under your belt and other qualifications or an MBA, you can progress to:

Finance Manager Investment Banker Senior Analyst Portfolio Manager CFO or Finance Director

These positions command higher wages and management responsibilities.

Future Trends Affecting Job Opportunity in Finance

The finance sector is changing rapidly. Here are some trends reshaping the jobs market:

1. Artificial Intelligence and Automation

Artificial Intelligence is automating a lot of the labor in finance. Rather than reducing job opportunities, though, it's creating jobs for data analysis, algorithmic trading, and AI auditing.

2. Sustainable Finance

ESG investing is on the rise. Companies are hiring sustainability analysts and green finance experts.

3. Blockchain and Cryptocurrency

DeFi, crypto analysis, and blockchain compliance jobs are gaining traction with these technologies becoming more prominent.

4. Regulatory Pressure

Post-2008 reforms and ongoing regulatory changes lead to more compliance officers, auditors, and risk managers being hired by companies.

Conclusion: Is a Career in Finance a Good Idea?

With millions of jobs available and even more in the works, finance remains one of the most attractive choices for ambitious careerists. Whether starting a career or considering a career change, finance offers stability, high compensation, worldwide potential, and lots of specialties to explore.

As the global economy develops, so will finance jobs. By remaining flexible, always being willing to learn, and being open to new technology, you'll be able to find a niche in this vibrant and expanding field.

Key Takeaways

The American financial sector has over 9.5 million workers. Financial careers are growing at a higher pace than the average, especially in advising, management, and analysis. Fintech, ESG investing, and AI are revolutionizing finance career jobs. Bachelor's degrees and certification give access to career entry positions in finance. The industry offers high compensation, high job security, and global mobility.

If you've ever questioned whether you're meant to be in finance—the answer could just be a resounding yes. With over a thousand job listings in banking, technology, accounting, and investing, the opportunities are as limitless as your ambition.