9 Job Roles With Salaries in Corporate Finance

One of the most common career paths after an MSF degree is getting a job in corporate finance. In this article, find out about the top 6 jobs in corporate finance and their salaries.

What is corporate finance?

Corporate finance is a term given to a range of finance jobs that help a company run. These jobs are specifically dedicated to track finances, increase profits, and cut down costs in a corporation. Professionals in corporate finance carry out certain common duties, such as analyzing revenue and expenses, handling mergers and acquisitions, and writing financial reports and statements. Although the actual job titles and responsibilities differ depending on the size of the company.

Why consider a career in corporate finance?

There are several reasons why a lot of people opt for a career in corporate finance. Some of the top reasons are mentioned below.

1. High compensation: A corporate finance job pays quite well compared to jobs in other domains. Some of the entry level positions in corporate finance are considered as the highest entry level jobs.
2. Variety of jobs: In corporate finance as well there are different types of roles such as analyst, wealth manager, financial planning, etc. The job profiles also vary depending on the industry of the company that you are working in.
3. Job stability: Considering finances is the backbone of any company there are always jobs available in the finance department.
4. Room for growth: The finance vertical is quite vast. There are different roles that go to the executive level, thus there is a lot of scope for growth.
5. Work-life balance: Unless required to work extra time, these jobs operate at the same time as regular corporate jobs where you can maintain work-life balance.

Qualifications for jobs in corporate finance

A career in corporate finance is geared completely toward the finance vertical; hence, there are certain qualifications that one must have to apply for any role in this domain.

1. Bachelor’s degree: A bachelor’s degree in accounting, finance, or a related field is a must for getting an entry-level job in this domain.
2. Master’s degree: To advance in corporate finance one needs a master’s degree in finance or business administration. Mentioned below is a program which will help you go ahead in this field.
   1. Global Master of Science in Finance (Global MS in Finance) from the Richard DeVos Graduate School of Management at Northwood University: The program helps develop the acumen to play an important role in the ever-changing and expanding world of global finance. It is a highly accredited program like this, and is sure to help you get a head start on your financial career. This program offers international participants a chance for OPT – Optional Practical Training program upon the completion of their MSF degree.
3. Additional certification: Certifications such as Chartered Financial Analyst (CFA), Certified Public Accountant (CPA), Association of Certified Chartered Accountants (ACCA), and Chartered Alternative Investment Analyst (CAIA) help you advance in specific positions at a faster pace. For example, the ACCA certification is helpful to someone in an accounting position.
4. Appropriate experience: Hands-on experience is very crucial to accelerate your career in corporate finance. A few ways to do it are:
   1. Interning in a financial firm while studying
   2. Work in an auditing team or accounting firm
   3. Get experience in public accounting

Job roles in corporate finance

There are different roles in corporate finance, but we will focus on some of the more popular job roles within corporate finance at different levels.

Entry level roles

1. Financial analyst: A financial analyst evaluates and analyzes different aspects of financial records, such as expenditure on capital, rate of return, operating costs, financial statements, etc. According to Indeed.com, the average salary of a financial analyst is $70,381 per year.
2. Cost analyst: This job is similar to a financial analyst but a cost analyst is focused on the company’s expenditure. They maintain records of different costs, analyze the various expenditures, and report them to management. A cost analyst on average earns $72,553 per year, according to Indeed.com.
3. Business analyst: The scope of business analyst is much larger than the previously mentioned jobs, as a business analyst is supposed to analyze business processes and try to understand the expenditure of them. They are also responsible for finding problem areas and making recommendations within processes to cut costs. The average salary of a business analyst is $81,500 per year, according to Indeed.com.

Mid-level roles

1. Mergers and acquisitions (M&A) manager: M&A managers are in charge of overseeing the mergers and acquisitions for the company. Their responsibilities include devising strategies, identifying mergers and acquisitions sectors, and doing due diligence of finances. According to Indeed.com, the average salary of an M&A manager is $94,793.
2. Cash manager: A cash manager as the name suggests is someone who handles the financial transactions of the company. A cash manager is responsible for fund allocation for different departments, loans, and investments. They also oversee implementation of monetary policies, and monitoring cash flow. A cash manager earns around $101,451 per year on average, as per Salary.com, and earn as high as $117,178 per year.
3. Strategic planner: A strategic planner is in charge of developing financial strategies. They essentially specify which projects to prioritize and how the funds should be allocated to each project. The average salary of a strategic planner according to Talent.com, is $106,902 per year.

Senior-level roles

1. Chief financial officer (CFO): A CFO is an executive-level position who is in charge of handling all the financial aspects of a company. They are also the link between different financial departments and the other executive level officers and responsible for making strategic suggestions based on the company goals. The average salary of a CFO is $122,747 per year, according to Indeed.com.
2. Treasurer: A treasurer is a senior level position responsible for managing the general finances of the organization. They track and plan the organizational budget and conduct several related activities such as collecting funds, writing cheques, and presenting budgetary reports. The average salary of a treasurer according to Salary.com, is $224,461 per year.
3. Controller: A controller is in charge of controlling i.e., coordinating and preparing internal and external financial statements. They essentially plan all accounting functions that are necessary for consolidation of accounting data. A controller’s average salary, according to Salary.com, is $240,082 per year.

These are a few of the most important jobs in corporate finance; the titles and salaries of these jobs change depending on the company’s size and industry. After considering everything, a career in corporate finance is a lucrative career.