Breaking into the Field: Entry-Level Finance Analyst Jobs Demystified

Finance is a competitive industry with high-paying entry-level positions. Aspiring finance analysts often wonder how to secure these coveted roles and what qualifications are required. In this article, we will explore the world of entry-level finance analyst jobs, providing valuable insights and guidance for those looking to kickstart their finance careers.

Key Takeaways:

  • Finance offers lucrative entry-level job opportunities for those willing to put in the effort.
  • An undergraduate degree, preferably in economics or math-oriented fields, is typically required.
  • Popular entry-level finance roles include analysts, tax associates, auditors, and financial advisors.
  • The average salary for entry-level finance jobs is approximately $52,609 per year.
  • Diversity is lacking in the financial industry, but initiatives are underway to address this issue.

Entry-Level Salary Expectations

When considering a career as a finance analyst, it’s important to have a clear understanding of the salary expectations for entry-level positions. In this section, we’ll explore the average salaries for finance analyst entry-level jobs and provide insights into starting salaries for related majors.

Entry-Level Salaries for Finance Analyst Jobs

According to Glassdoor, the estimated total pay for an entry-level finance job is $52,609 per year, with an average salary of $49,360 per year. This serves as a benchmark for aspiring finance analysts entering the field.

Starting Salaries for Related Majors

The National Association of Colleges and Employers (NACE) 2022 Salary Survey provides insights into starting salaries across various majors. The following figures represent the median starting salary for business, finance, accounting, insurance, and real estate majors:

Majors Median Starting Salary
Business $60,695
Finance $60,695
Accounting $60,695
Insurance $60,695
Real Estate $60,695

It’s worth noting that computer science majors have the highest starting salaries at $75,900 per year, making it an attractive field for those interested in higher earning potential right from the start.

Education Requirements for Entry-Level Finance Analyst Jobs

When it comes to securing entry-level positions in finance, having the right education is crucial. While an Ivy League background is not essential, employers often prefer candidates with majors in economics or math-oriented fields. These disciplines provide a strong foundation for the analytical and problem-solving skills required in finance analyst roles.

While pursuing an undergraduate degree, gaining knowledge in various subjects related to finance can be advantageous. Having a deep understanding of economics, applied mathematics, accounting, business, and computer sciences can give finance analysts a competitive edge in the job market. This multidisciplinary approach equips professionals with a well-rounded skill set, enabling them to tackle complex financial challenges with ease.

For individuals who did not major in finance-related fields, there are opportunities to enhance their credentials. Non-finance majors can consider minoring in a finance-related area to supplement their education. By specializing in a specific aspect of finance, such as financial planning or investment analysis, candidates can demonstrate their commitment and expertise to potential employers.

Overall, securing entry-level finance analyst jobs requires a solid educational foundation in finance-related disciplines. Whether through a specialized major or adding a minor, investing in a comprehensive education enhances job prospects and paves the way for a successful career in finance.

Recommended Majors Beneficial Knowledge Areas
Economics Economics
Mathematics Applied Mathematics
Accounting Accounting
Business Business
Computer Science Computer Sciences

Internships as a Steppingstone in Finance

Internships play a crucial role in launching a successful career in finance. They provide invaluable experience, networking opportunities, and can even lead to job offers or entry into prestigious training programs after graduation. Many firms actively recruit interns by visiting college campuses, hosting workshops, and organizing networking events. Taking advantage of these internship programs can significantly enhance your chances of securing a finance analyst position.

One example of a notable finance internship program is the Goldman Sachs Undergraduate Camp. This highly competitive program offers students the chance to gain hands-on experience in various areas of finance, including investment banking, asset management, and sales and trading. Participants have the opportunity to work on real-life projects, collaborate with industry professionals, and develop essential skills for a career in finance.

Another esteemed internship opportunity is Morgan Stanley’s Career Discovery Day. This program allows students to explore different areas within finance and gain exposure to the daily operations of a leading financial institution. Through workshops, panel discussions, and networking sessions with Morgan Stanley professionals, participants can learn about the diverse career paths available in finance and make valuable connections for future job opportunities.

Participating in finance analyst internships like these not only allows you to gain practical experience and industry knowledge but also helps you build a strong professional network. These connections can prove invaluable when seeking future career opportunities in finance.

Furthermore, completing internships shows potential employers that you are proactive, motivated, and dedicated to pursuing a career in finance. It demonstrates your ability to apply theoretical knowledge in real-world scenarios and highlights your commitment to professional growth. Employers often view internship experience as a significant factor when considering candidates for entry-level finance analyst positions.

Overall, internships provide a steppingstone into the finance industry, offering valuable opportunities for learning, networking, and career development. By participating in well-regarded internship programs, such as the Goldman Sachs Undergraduate Camp and Morgan Stanley’s Career Discovery Day, you can gain a competitive edge and enhance your chances of securing a finance analyst role.

Continuing Financial Education and Credentials

Continuing education in finance can open up a world of career opportunities for finance analysts. By staying updated with the latest industry knowledge and acquiring relevant credentials, professionals can enhance their job prospects and establish themselves as experts in their field.

Finance-specific credentials carry significant weight in the industry and can demonstrate specialized expertise to potential employers. Some of the most respected credentials in finance include:

  • Chartered Financial Analyst (CFA): The CFA designation is recognized globally and signifies proficiency in investment analysis and portfolio management. It is highly regarded in the finance industry and is often considered a prerequisite for senior-level positions.
  • Certified Public Accountant (CPA): CPAs have expertise in accounting, auditing, and taxation. This credential is valuable for finance analysts working in roles that involve financial reporting and compliance.
  • Certified Financial Planner (CFP): The CFP designation is ideal for those specializing in personal financial planning. It demonstrates knowledge in areas such as retirement planning, estate planning, and investment management.

In the United States, professionals dealing with investments and finances must pass licensing exams to practice in regulated environments. One such exam is the Securities Industry Essentials (SIE) exam, which covers fundamental securities industry knowledge.

Continuing education and credentialing not only expand knowledge and skills but also showcase dedication and commitment to professional growth. Employers often prioritize candidates who have gone the extra mile to enhance their expertise in finance.

To visually depict the importance of continuing financial education and credentials, we present the following data:

Educational Attainment Median Salary Employment Growth
Bachelor’s Degree in Finance $65,000 per year 8% growth from 2021 to 2031
Chartered Financial Analyst (CFA) designation $95,000 per year 10% growth from 2021 to 2031
Certified Public Accountant (CPA) designation $80,000 per year 6% growth from 2021 to 2031

These statistics highlight the positive correlation between educational attainment, professional certification, and earning potential in the finance industry.

Having recognized credentials and engaging in continuous learning can give finance analysts a competitive edge in a rapidly evolving industry. Employers value individuals who demonstrate a commitment to their professional growth, making continuing financial education and credentials a vital part of a successful finance analyst career.

Lack of Diversity in the Financial Industry

The financial industry faces significant challenges in achieving racial and gender diversity, particularly in top management positions. Although finance presents ample career opportunities, there is a clear need for greater representation and inclusion. Fortunately, organizations and initiatives are actively working to address this issue and promote diversity within the industry.

Initiatives Supporting Representation

Several organizations are dedicated to supporting and increasing representation for people of color in finance. The Alliance of Black Women Accountants (ABWA) is a professional network that offers mentorship, networking events, and career development opportunities for black women in the accounting and finance fields. Similarly, the National Association of Black Accountants (NABA) is committed to promoting diversity and providing resources for black professionals in accounting, finance, and related fields.

Support for Underrepresented Finance Majors

Finance majors from underrepresented backgrounds can access scholarships and grants to support their education and career development. These financial aid programs aim to bridge the opportunity gap and provide support to students who face systemic barriers. By offering financial assistance, educational institutions and organizations enable underrepresented individuals to pursue finance careers and contribute to the diversification of the industry.

Table: Representation in Top Management Positions in the Financial Industry

Percentage of Women Percentage of People of Color
Financial Industry 24% 10%
Top Management Positions 6% 3%

The table above illustrates the underrepresentation of women and people of color in both the financial industry as a whole and in top management positions. These figures highlight the urgent need for diversity and inclusion efforts in finance.

By recognizing and addressing the lack of diversity, the financial industry can maximize its potential and create a more inclusive and equitable environment. Through initiatives, support networks, and scholarships, the industry can actively work towards breaking down barriers and providing equal opportunities for all individuals interested in pursuing a finance career.

Best Entry-Level Positions in Finance

finance analyst career opportunities

If you aspire to kickstart your finance career, there are several lucrative entry-level positions to explore. These roles offer significant growth potential and valuable experience in the finance industry. Below, we highlight four of the best entry-level positions in finance:

1. Financial Analysts

Financial analysts play a critical role in researching and analyzing financial data to provide insights and recommendations. They evaluate investment opportunities, assess financial performance, and help businesses make informed decisions. As a financial analyst, you’ll need strong analytical skills, attention to detail, and a solid understanding of financial markets and instruments.

2. Investment Banking Analysts

Investment banking analysts work closely with senior analysts and executives in mergers and acquisitions, capital raising, and corporate finance activities. They are involved in financial modeling, conducting due diligence, and preparing pitch books. This role requires excellent quantitative skills, strong work ethic, and the ability to thrive in a fast-paced, demanding environment.

3. Financial Planners

Financial planners provide personalized advice and strategies to help individuals and families achieve their financial goals. They assess clients’ financial situations, provide recommendations on budgeting, investments, retirement planning, and risk management. Strong interpersonal skills, knowledge of financial planning principles, and attention to detail are crucial for this role.

4. Controllers

Controllers oversee financial accounting and integrity within organizations. They are responsible for managing financial reporting, implementing internal controls, and ensuring compliance with regulatory requirements. Controllers play a vital role in managing financial risks and safeguarding company assets. Strong accounting knowledge, attention to detail, and leadership skills are essential for this position.

These entry-level positions offer diverse career paths within the finance industry, providing opportunities for growth and specialization. Whether you prefer analyzing data, engaging in strategic financial transactions, or helping individuals plan their financial future, there is a role that aligns with your interests and skills.

Entry-Level Position Description
Financial Analysts Research and analyze financial data, evaluate investment opportunities, and provide recommendations.
Investment Banking Analysts Assist in mergers and acquisitions, capital raising, and corporate finance activities by conducting financial analysis and due diligence.
Financial Planners Provide personalized advice on budgeting, investments, retirement planning, and risk management.
Controllers Oversee financial accounting, reporting, and compliance, ensuring the integrity of financial processes within organizations.

Career Path and Growth in Finance

Entry-level positions in finance offer promising career opportunities for aspiring professionals. With experience and further education, individuals can progress to higher-level roles, such as financial managers, Chief Financial Officers (CFOs), or risk managers. Networking, continuing education, and gaining specialized certifications are crucial for opening doors to new and exciting opportunities within the finance industry.

Advancement Opportunities

As finance analysts gain experience and develop their skills, they have the potential to advance to higher-level positions. Here are a few examples of career paths in finance:

Role Description
Financial Manager Financial managers oversee the financial operations of an organization, including budgeting, financial reporting, and investment activities.
Chief Financial Officer (CFO) The CFO is responsible for managing an organization’s financial activities, developing financial strategies, and ensuring compliance with financial regulations.
Risk Manager Risk managers identify potential risks to an organization’s financial well-being and develop strategies to mitigate and manage those risks.

These are just a few examples, and there are numerous other career paths available in the finance industry. The key is to continually learn and grow to seize the career opportunities that align with your goals and interests.

Continuing Education and Specialized Certifications

Continuing education plays a vital role in career advancement in finance. Professionals can stay updated with the latest industry trends, regulations, and best practices through various educational programs and certifications. Some popular certifications in the finance industry include:

  • Chartered Financial Analyst (CFA)
  • Certified Public Accountant (CPA)
  • Certified Financial Planner (CFP)

These certifications demonstrate expertise in specific areas of finance and can enhance job prospects and earning potential.

Networking and Industry Involvement

Networking is a powerful tool for career growth in finance. Building relationships with professionals in the industry can lead to mentorship opportunities, job referrals, and access to hidden job markets. Networking events, industry conferences, and professional organizations such as the Financial Planning Association (FPA) and the CFA Institute provide excellent platforms for connecting with like-minded individuals and industry experts.

By actively participating in networking activities and staying engaged with the finance community, professionals can expand their knowledge, stay informed about emerging trends, and leverage valuable connections to advance their careers.


Breaking into the field of finance as an entry-level analyst can pave the way for a rewarding career. With the potential for growth and lucrative job opportunities, this sector offers a promising future. However, it is important to address the lack of diversity in the industry. Initiatives are being implemented to promote inclusivity and create equal opportunities for all.

To succeed in a finance career, a strong educational foundation is vital. Pursuing an undergraduate degree, preferably in economics or math-oriented majors, can provide the necessary knowledge and skills. Additionally, internships play a significant role in gaining practical experience and building valuable connections.

Continuing professional development is key to stay competitive in the finance industry. Obtaining finance-specific credentials such as the Chartered Financial Analyst (CFA), Certified Public Accountant (CPA), or Certified Financial Planner (CFP) designations can enhance job prospects and demonstrate expertise in specialized areas. With the right skills and credentials, professionals can advance to higher-level positions and contribute to the growth and development of the finance industry.


What are some common entry-level finance analyst positions?

Some common entry-level finance analyst positions include financial analysts, tax associates, auditors, and financial advisors.

What is the average salary for entry-level finance jobs?

The average salary for entry-level finance jobs is approximately ,609 per year, according to Glassdoor.

What education is required for entry-level finance analyst positions?

An undergraduate degree, preferably in economics or math-oriented majors, is required for entry-level finance analyst positions.

Are internships important for entry-level finance positions?

Yes, internships are crucial for entry-level finance positions as they provide valuable experience and can lead to job offers or training programs.

What are some certifications or credentials that can enhance job prospects in finance?

Some certifications and credentials that can enhance job prospects in finance include the Chartered Financial Analyst (CFA), Certified Public Accountant (CPA), and Certified Financial Planner (CFP) designations.

How can the lack of diversity in the financial industry be addressed?

Initiatives and organizations, such as the Alliance of Black Women Accountants and the National Association of Black Accountants, aim to support and increase representation for people of color working in finance.

What are some rewarding entry-level jobs in finance?

Some rewarding entry-level jobs in finance include financial analysts, investment banking analysts, financial planners, and controllers.

What is the career path and growth potential in finance?

Entry-level positions in finance can lead to growth and career advancement, with opportunities to progress to higher-level roles such as financial managers, CFOs, or risk managers.

How can one break into the field of finance as an entry-level analyst?

Breaking into the field of finance as an entry-level analyst requires a combination of education, internships, and continuing professional development to enhance skills and credentials.