Ranking the Top 10 Jobs in Finance! (Based on Compensation, Reputation, and Difficulty Breaking In) #Finance

what’s up everyone and welcome to really quick careers today is going to be a bit of a controversial CashNews.co because i’m going to be ranking the top most common jobs in none;">Finance whether you’re ranking something like the best movie ever or the best basketball player ever things are always pretty subjective and everyone has different criteria and valid arguments and so what i’m trying to say is that this CashNews.co is just my own

personal opinion and there are really great things about every industry i’m going to cover there’s going to be pros and cons to each and ultimately what’s really important is you figuring out what industry is the best fit for your personality and what you’re looking for in

terms of work-life balance and other things like that and so please keep all of this in mind i’m not trying to look down on any Industries whatsoever now there are so many things to

consider when ranking different Industries but i focus just on three which each will have a worth of five points each for a total of 15 points first criteria is reputation and this kind of

just basically means prestige but i don’t like the word prestige so i’m gonna use the word reputation so reputation in the overall Finance world how do other

people in Finance view that particular industry the second criteria is how difficult it is to break into that industry and then the third criteria is compensation because

obviously that’s a huge factor when it comes to everyone choosing their jobs and especially in the Finance world two really quick things before i get started first if

you’re new to the channel and don’t really know my background i used to work as an Investment Banking analyst at jpmorgan for a few years and so that’s really how i gathered all this industry information i have a lot of friends who worked in a lot of the

href="https://cashnews.co/industries" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Industries we’re going to cover today and second wanted to give a shout out to our sponsor for today’s CashNews.co wall street prep for helping make this CashNews.co possible all

right now starting at number 10 we have private Wealth Management which is an industry where you’re helping wealthy individuals manage their investment Portfolios in Wealth Management you’re not doing a ton of fundamental research or

stock picking or running crazy algorithms in order to make the best Investments possible and just have like crazy returns you’re actually just usually investing in mutual funds or none;">ETFs or Bonds and your goal is to just understand your clients Risk Tolerance and kind of figure out where they really want broad-based exposure and ultimately the Wealth Management kind of industry becomes more of a sales job where

you’re just trying to maintain relationships and find new relationships with wealthy individual investors because the more money you’re managing the more fees you’ll earn going into my criteria and the ratings i would say that Wealth Management is not known to be

a super super reputable industry in the Finance world that mainly has to do with how easy it is to break in and as a case in point i actually interned at merrill lynch as a

private Wealth Management intern during my freshman summer and it was pretty easy to get that job pretty much just had to submit my resume and the last thing i’ll mention is the compensation which tends to be pretty low something around 40 to 60k for entry level positions but

as i kind of alluded to earlier on this position or this industry can also be pretty lucrative if you have like a really strong and large client base and the hours are not that bad either so this can be still a pretty solid job for a lot of people especially as you grow more senior next up at

number nine i’ve lumped together three different fields which are Accounting tax and audit and these are professional services offered and usually dominated by the big four which are deloitte kpmg pwc and ernst young each of these fields do have their stark differences in

comparison to one another but they are very similar in that they’re each helping companies understand their financial situations and you’re spending a lot of time digging into Financial Statements and helping companies really understand and abide by financial laws and

regulations going into the ratings in terms of reputation all three are kind of considered the same and they’re usually seen as stepping stones to other jobs in Finance

it isn’t super super hard to get a job or break into any of these Industries and the compensation also tends to be a bit higher than private Wealth Management at

something around 45 to 65k per year and i would also say that there’s a lot of job stability so if you want to stay in that field your pay actually increases a pretty solid amount over a span of 10 to 20 years and so i would say that it is still a pretty solid industry for a lot of people at

number eight we have commercial banking and this is a job that entails selling Credit products aka Debt products to companies and these can include things like term Loans revolving lines of Credit and other fixed

Income Securities ultimately your job is to provide financial advice to help your clients grow their businesses by funding things like buying new equipment or covering their working Capital to fund their day-to-day operations when it comes to

reputation commercial banking is not seen as super super reputable in the Finance world and i think that’s mainly because you’re really just selling very

commoditized financial products to companies and you’re just doing this over and over again it’s not super super interesting work compared to the other Industries later on in

this list breaking into commercial banking is not really super super hard but it’s also not super super easy either because there are relatively less spots than in comparison to something like Accounting audit or tax and i would also say in terms of compensation it’s

also notably a little bit better uh starting entry salaries are somewhere around 55k to 90k depending on the bank that you join next up at number seven we have Financial Planning and analysis also known as fpma and also Treasury roles and both of these roles are

internal roles within a company where you’re really just helping the company manage its Finances many people in the

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance roles that we covered previously in this CashNews.co often times enter into these fp a or Treasury roles and that’s because usually when you’re on the client side it’s a little

bit more like you’re not really building anything and people are kind of crave wanting to build some kind of like business or product or just see something grow over time right and so that’s why a lot of people exit into this industry as a result i would say that fp a and

Treasury roles are a bit more reputable in the Finance world overall but of course it really will depend a lot on which company you join breaking into these

internal Finance roles can be a bit more challenging because usually companies hire more on a needs basis and there aren’t these kinds of normal recruiting cycles with

a ton of spots that are available as in the other Industries that i mentioned earlier on in this CashNews.co lastly compensation is super super variable so i can’t really give you a

range it’s also very very hit or miss depending on whether or not you earn Stock Options as part of your compensation which if you’re joining a really successful startup then that compensation could really amount to a lot or if you join a startup that doesn’t

really amount to anything then your Stock Options really aren’t worth anything now if you’re interested in any of the fields that we discussed today and you’re just interested in a career in color: #1a73e8; text-decoration: none;">Finance one resource that i highly recommend is wall street prep wall street prep offers a ton of different courses that can help you prepare for almost any text-decoration: none;">Finance interview but the two i particularly recommend are the Accounting course if you don’t have any prior Accounting knowledge and the premium modeling package which goes over all the key eValuation

concepts i learned in banking like dcfs comps accretion dilution and lbos wall street prep has been around since 2004 and they train interns new analysts and employees at all of the top banks and they also partner with the top institutions including wharton which is where i’m currently

getting my mba and they actually just sent me an email this past week saying that i have access to a bunch of wall street prep materials if i want to learn more about modeling if any of this sounds interesting to you make sure to use my code rare liquid because that’ll give you 20 off

i’ll leave a link to wall street prep down in my description below feel free to check them out if you’re interested in a career in Finance all right now going

back to our rankings at number six on the list we have three different Investment Banking divisions which are sales and trading Equity research and Asset Management going into each of these pretty quickly in sales and trading on the sales side

you’re encouraging institutional investors to purchase a wide variety of different financial Securities and then on the trading side you’re helping these clients execute on these trades by getting the best possible price for Equity research your job

entails doing a ton of fundamental research about companies and Industries and you create reports that you sell to other institutional investors lastly in Asset Management

you’re working with institutional investors to give them exposure to a wide variety of Assets and help them reach their financial goals with their Portfolios by understanding their Risk Tolerance going into the ratings the reason these three

fields are kind of grouped together is because they’re all divisions within an investment bank and really they kind of have the same reputation it really just depends more on what you prefer to work on the difficulty in terms of getting into any of these fields are also very similar and there

are very few spots for any of these Industries within each of the top banks and compensation tends to be somewhere around 90k to 120k for entry level positions next up at number five we

have corporate development and you can think of this as an internal Mergers and acquisitions arms within a company so your job is to help your company grow through acquisitions corporate development usually is a career path that you join after Investment Banking

and so it’s seen as pretty reputable but people don’t necessarily kind of just join corporate development because that’s more reputable in a sense it’s usually because they get tired of banking and want to leave the kind of professional services industry and want to join

something where they help building or helping a company grow it’s also pretty tough to join corporate development because you normally need a background in banking or maybe management consulting and the pay is actually a lot less than banking usually you take a pretty big pay cut in order to

join a corporate development team and that’s usually because your hours are a lot more chill but as it is with other kind of internal roles at companies if you do have Stock Options for a highly successful startup or a public company then these can actually be worth a lot in

the future next up at number four in the list we have Investment Banking which is a field in which you’re helping clients with two types of transactions the first are Mergers and acquisitions and the second are the raising of funds either through

Equity or Debt transactions if you want to learn more about Investment Banking i do have a guide to the overall industry right here and i also have a day in the life CashNews.co right there and so if you’re interested in either i’ll

leave links to both of these down in the description below now when it comes to ratings Investment Banking is viewed pretty favorably in the Finance world

because there are just so many exit opportunities that you can get after joining an investment bank and people understand that you’re willing to work or also able to work super super long hours and lastly of course the compensation is also super great banking is also one of the most

competitive fields to get into and also compensation as i discussed earlier is pretty strong with analysts typically earning anywhere from 140k to 200k in their first year and associates earning anywhere from 250 to 400k in their first year if you’re interested in recruiting for

Investment Banking or just any field in Finance in general i am selling the resume and cover letter that got me into jpmorgan down in my description below at

rareliquidcareers.com i also have a guide that i created for just like an overall industry guide and i also am building out a how to get into Investment Banking course which you can sign up for down in the description as well i’m giving huge discounts to people who sign up

early alright going back to our rankings we’re finally down to our top three and i would say that these next three are pretty interchangeable with one another but i did force myself to rank them but if you join any of these fields they’re kind of known as the holy grail of

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance in general because they’re all on the buy side and the buy side just means that you’re making actual Investments into companies aka that’s why

or that’s why it’s called the buy side and as i said you’ll be you can be super successful in any of these three fields it’s really more of a matter of what kind of work you’re personally interested in with that said at number three we have venture

Capital and this is an industry in which you’re making minority Investments in the earlier stages of companies and hoping that they eventually ipo or get acquired so you can make some insane returns if you’re interested in learning more about venture

Capital feel free to check out this CashNews.co right here which goes over the entire industry and a deeper dive into what venture Capital is all about venture Capital is often seen as the sexiest of the three by side roles and that’s usually

just because you’re working with the hottest companies in any given industry and especially if you’re working in tech they’re really on the bleeding edge of technology but i will say that after speaking with a lot of people in vc and also in other buy-side roles the work is

actually not as glamorous as it may seem on the outside it is extremely hard to break into venture Capital and you can only really break in if you have previous experience in Investment Banking management consulting startup experience or if you’re a founder

yourself and there are really really few spots available for every single kind of venture Capital team because the teams are super lean lastly when it comes to compensation venture Capital usually pays the least of the three buy side rolls and oftentimes investment

bankers actually get paid more than venture Capital investors at the entry level positions but i will say that over time venture Capital investors can earn a ton of money you can become billionaires and especially just if you’re at a really top firm your

growth your compensation growth just can grow exponentially and so there’s a ton of opportunity to just earn a ton in venture Capital it’s just that in the earlier stages you’re typically not earning as much next up at number two on the list we have private

Equity and this is an industry in which you’re purchasing 100 of a company and funding that purchase with a lot of Debt in order to boost your returns and this is a transaction often known as the Leveraged Buyout it is many a young investment

banker’s dream to break into private Equity and the field is extremely hard to enter into because they typically only hire from people who have previous Investment Banking or top management consulting experience at mckinsey bain or bcg the compensation in

private Equity is extremely attractive usually after two years in banking you’ll be offered total compensation in private Equity anywhere from 250k to 400k and your pay just increasingly rapidly grows as you become more senior and so compensation is a huge

reason why a lot of people really want to break into private Equity finally at number one we have the almighty hedge fund and in Hedge Funds you’re investing large amounts of Capital into public companies through a wide variety of different

strategies they can entail anything from long only to long short to fundamental research to algorithmic trading there’s a ton of different strategies and a lot of people in none;">Finance want to break into Hedge Funds but it’s one of the toughest fields to break into just overall i wouldn’t say just in none;">Finance i would say overall in general going into our ratings while i wouldn’t necessarily say that everyone in the Finance world wants to work at a

hedge fund i would say that most people do respect people who work at Hedge Funds the most in a sense just because the industry is so selective and so tough and there’s really an up or out kind of policy where if you’re not performing you can get kicked out kind of

right away and so Hedge Funds typically hire the smartest people in Finance and they can include anywhere from the best software engineers if they’re

more like algorithm algorithmic in their kind of trading strategy or people who previously worked at investment banks or also private Equity and so the number two and also one of the hardest fields to get into is kind of a prerequisite to also work at a hedge fund um not a 100

necessarily that you have to work in private Equity to get into a hedge fund but your chances become much higher and people do make that move um but to be clear a lot of people want to stay in private Equity and never want to work at a hedge fund so really it

depends on what you want to do but i would say that in terms of reputation and in terms of how hard it is to break in Hedge Funds are the hardest in the none;">Finance world lastly because it is so hard to break into Hedge Funds compensation typically tends to be the highest usually at a minimum of 300k if you end up joining a fund after a few years in banking or private Equity and it can go anywhere

into the millions pretty quickly especially if that fund has good performance so that concludes our rankings but here is a list that you can check out in order to just compare all the different none;">Industries against one another let me know down in the comments if you disagree with anything as a friendly reminder this is just one man’s opinion and i really really am not trying to look down on any given industry just want to provide a perspective of what people kind of say or

see in the Finance world if you’re interested in recruiting for Investment Banking i am building out a how to get into Investment

Banking course feel free to use my google form link down in the description to sign up i’m giving away huge discounts to people who sign up early i also wanted to give you guys a friendly reminder about wall street prep if you really want to learn more about how to build financial

models or you want to learn about Accounting or you know just check out a bunch of the different courses they have use my link rare liquid you get 20 off of any course highly highly recommend them and with that said thank you all so much for watching the CashNews.co hope to catch

you in the next one thanks so much and peace out you