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Going to business school gives you the chance to learn more about the industry and to improve your skills while gaining practical business experience. You have the option of earning an associate’s degree, a bachelor’s degree or even an MBA. Before you enroll though, you likely want some idea of how much you can make with your degree. The best way to find out that information is with a look at some of the average salaries of the best jobs. Working in any of the 10 highest paying careers in business can help you earn a significant amount every year.
1. Chief Investment Officer
As a chief investment officer (CIO), you are the one who makes investments on the behalf of your clients. Clients will typically give you a set amount of money that you use to invest in companies and products to help grow or enhance their portfolios. A CIO is unique because this professional will usually work for one company and both manage and maintain its portfolio. You must know how to recognize potential risks, explain your methods and actions to investors and create profit and loss statements each quarter.
2. Chief Accounting Officer
The accounting department within a company or organization is responsible for all financial aspects of that business or group. When you take on a role as a chief accounting officer (CAO), you must follow all financial laws and principles, keep accurate financial records, report profits and losses to executives and keep track of all employees working in your department. Companies may hire workers with an advanced degree and less experience, though some will hire those with just a bachelor’s degree and more accounting experience. The median salary for this position is around $151,000 a year, but the salary can reach as high as $250,000 a year, according to PayScale.
3. Tax Director
Tax directors work with both the accounting department and any other financial offices within an organization or corporation. Directors oversee all aspects of taxes, including the deductions that clients take, when clients file their taxes and when they pay their taxes. They are the ones who create records based on financial transactions and ensure that clients comply with all tax laws. As a tax director, you may advise your clients on what deductions they can take to bring their tax bills down and offer help in regards to setting up payment plans with the Internal Revenue Service.
4. Internal Audit Director
Financial auditors can either work internally or externally. An internal audit director is someone who works within a specific company and in a salaried position. They look over financial statements and documents to determine why and how a company loses money and what changes that company can make to save money each year. Directors will work in the financial department and meet with employees working in other departments to get feedback about those changes. Though the median salary for an internal audit director is around $124,000, the top 10% of all workers make more than $160,000 a year.
5. Chief Financial Officer
With an MBA and some financial experience, you might find work as a chief financial officer (CFO). A CFO handles duties relating to the financial risks that a company takes on each year, but some officers work for organizations in the nonprofit sector. You’ll need to weigh the risks and rewards of all financial transactions carefully to determine if your company should proceed. This may relate to issues such as acquiring another company or merging with another business as well as investing in foreign markets and buying goods from companies based overseas.
6. Chief Credit Officer
Chief credit officers work with companies and deal primarily with the loans that the company takes out as well as any loans that the company makes. They are the ones responsible for looking over the loan documents to ensure that each loan complies with all state and federal laws as well as creating loan documents that help borrowers and lenders work together towards one shared goal. They will also prepare regular reports that alert executives about any potential issues.
7. Director of Accounting
When you take a job as a director of accounting, you are responsible for the daily operations of the accounting department and for all employees working in that department. This position will require that you spend more time supervising workers than working with financial documents, though you may need to look over those documents and work with accounting software daily. The median salary for an accounting director is more than $92,000 a year.
8. Regional Controller
Working as a regional controller gives you the chance to oversee all the financial operations of a company within a specific market or region. This job requires strong budgeting and reporting skills as well as the ability to prevent market trends in the future. Knowledge of those trends helps you make the best decisions for your employer. Regional controllers earn a median salary of around $103,000 a year.
9. Bank Examiner
All financial institutions operating in the United States today must follow federal banking laws and regulations when loaning money to and opening accounts for customers. A bank examiner is a type of auditor who works for those financial institutions to ensure that each one meets all those laws and regulations. They prepare detailed reports that clearly explain any issues uncovered and statements that offer solutions to those problems. The top 10% of bank examiners make $152,000 a year, according to CNN Money.
10. Finance Director
Financial directors and managers ensure the financial security of a company or organization. They can create plans that help the company reach its financial goals, prepare statements that explain what steps the company must make to reach those goals and help the company decide which investments to make. The median salary for financial directors is $117,990 a year, and the market will grow by 7% by 2024, according to the Bureau of Labor Statistics.
Related Resource: 10 Great Scholarships for Business Majors
Though you may find fewer job opportunities open to you with just an associate’s degree or a bachelor’s degree than you would with an MBA, you can still earn $50,000 a year or even more. As you look at the 10 highest paying careers in business today, you can see which jobs pay the most and the education and experience that you need to work in those positions.