Business
From accountants to loan officers: The 25 highest-paying business and finance occupations
From accountants to loan officers: 25 highest-paying business and finance occupations
Business and financial occupations—which concern the day-to-day duties of running a business or are related to raising or managing money— pay well. People in those positions made a median annual wage of $76,570 in May 2021, according to the Bureau of Labor Statistics reports. That far exceeds the BLS-measured median annual wage of $45,760 for all occupations.
Employment in these occupations is also expected to increase 7% through 2031, leading to about 715,100 new jobs over the decade that began in 2021. Besides newly created jobs, opportunities are created when workers leave the field, either from moving to new occupations or retirements. Those openings will total about 980,200 a year on average for the next decade.
Santa Clara University used the BLS Occupational Employment and Wage Statistics from May 2021 to find the 25 highest-paying business and financial occupations. The analysis ranks occupations by their median annual wage across all industries, including both the public and private sectors. It excluded occupations in “other” categories. (For example, “Business Operations Specialists, All Other.”) Standard errors ranging between 0.2% and 4% mean that the actual median wages could vary, creating probable overlap between many of the rankings.
Descriptions of jobs and information on educational backgrounds are also from the BLS website.
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#25. Fundraisers
– Annual median wage: $60,660
– Employment: 82,080
As the title suggests, fundraisers are responsible for raising money and other types of donations through events and campaigns that they organize. The money might go to nonprofit organizations—including educational, religious, health research, or social services organizations—or contributions to a politician running for public office.
Typically a bachelor’s degree is required at the minimum, with a focus in communications, public relations, or business, and English proficiency is often preferred. The professional outlook is good, with employment in the fundraising field expected to grow 11% this decade, outpacing most other occupations.
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#24. Property Appraisers and Assessors
– Annual median wage: $61,340
– Employment: 58,340
Property appraisers and assessors provide an estimate on the value of real estate—often necessary to obtain a mortgage, for example—and on personal and business property. They will likely have a bachelor’s degree but also extensive on-the-job training. Growth in the field through 2031 is projected at 4%, nearly as fast as the national average. There are expected to be about 6,800 openings each year over the decade, replacing those who leave the field or retire.
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#23. Training and Development Specialists
– Annual median wage: $61,570
– Employment: 336,030
These specialists, who usually need a bachelor’s degree to enter the field, help employees improve their skills. They plan and administer programs to foster that advancement and work in nearly every industry. To be successful, they should have strong communication skills and on-the-job experience. The job outlook through 2031 projects an 8% growth rate.
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#22. Human Resources Specialists
– Annual median wage: $62,290
– Employment: 740,830
Human resources specialists recruit, screen, and interview candidates for jobs, and may also handle pay and other compensation, as well as benefits, training, and employee relations. Those responsible for recruitment in particular may conduct video interviews via Zoom, but also travel to job fairs and college campuses. Typically, those in the field have a bachelor’s degree, often specializing in human resources or business. Employment in the HR specialist field is expected to grow by 8% through 2031.
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#21. Auto Damage Insurance Appraisers
– Annual median wage: $62,680
– Employment: 11,430
Auto damage appraisers typically have experience estimating the cost of vehicle repairs or a certificate indicating postsecondary training in the field. They usually receive on-the-job training that can last several months, during which they are supervised by an experienced appraiser while estimating the cost of damages. Licensing requirements vary from state to state. The number of jobs for all claims adjusters and appraisers is expected to decline by 6% over the next decade.
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#20. Loan Officers
– Annual median wage: $63,380
– Employment: 340,170
Employees in this field evaluate loan applications to either approve or reject them or recommend further underwriting. They typically have both a bachelor’s degree as well as on-the-job training. Most loan officers work for financial institutions, whether banks, credit unions, or mortgage companies. Mortgage loan officers also must undergo a criminal background check to be licensed.
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#19. Buyers and Purchasing Agents
– Annual median wage: $63,470
– Employment: 439,020
These agents are responsible for buying products and services. Their work is overseen by purchasing managers. They usually have a bachelor’s degree, often in business, finance, or supply management, while managers also have work experience. Those expecting to work in agriculture might also consider a degree in agriculture production or animal science. The outlook for the field is not good for the next decade, as job prospects are expected to drop 6% through 2031.
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#18. Market Research Analysts and Marketing Specialists
– Annual median wage: $63,920
– Employment: 727,540
Market research analysts try to determine the potential sales of products or services by studying such factors as business conditions and consumer preferences. Widely used throughout many industries, potential employees in this occupation must at least have a bachelor’s degree, although some employers require a master’s degree. Job prospects in the field are much better than average, with 19% growth in positions projected over the next 10 years. Marketing specialists develop campaigns to encourage brand awareness and promote sales, as well as organize trade shows, conferences, webinars, and similar events.
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#17. Compensation, Benefits, and Job Analysis Specialists
– Annual median wage: $64,120
– Employment: 87,750
These specialists handle wages and other benefits that companies or nonprofits provide for their employees. They may also determine salaries and job classifications. A bachelor’s degree is typically required. The outlook for future growth is projected to reach 7% through 2031.
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#16. Claims Adjusters, Examiners, and Investigators
– Annual median wage: $65,080
– Employment: 278,140
Claims adjusters, examiners, and investigators are charged with evaluating insurance claims. Education or experience requirements vary, from a high school diploma to a bachelor’s degree to previous work experience in the insurance field. For investigators, some employers prefer to hire trained law enforcement officers or state-licensed private investigators. The overall employment of these specialists is expected to fall 6% through 2031, although there are about 23,200 openings every year.
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#15. Cost Estimators
– Annual median wage: $65,170
– Employment: 208,950
Cost estimators determine how much it will cost to produce a product or provide a service. To do that, they collect and analyze data that allows them to assess the labor, materials, time, and money that would be needed. A bachelor’s degree is usually required, although experience in construction can be sufficient to start. Hiring in the field is expected to drop 2% over this decade, although there are some 18,500 openings each year to replace workers who have left or retired.
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#14. Compliance Officers
– Annual median wage: $71,650
– Employment: 334,340
This position requires a determination of whether companies or government offices and agencies are in compliance with legal regulations and other standards. The federal government hires the most compliance officers in the United States. The highest paid work can be found in mining industry compliance, with an annual mean wage of $111,640.
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#13. Insurance Underwriters
– Annual median wage: $76,390
– Employment: 107,690
Insurance underwriters evaluate applications for insurance to decide whether to offer it and to determine the terms. Usually, a bachelor’s degree is required, although some positions may need only experience and competent computer skills while other more advanced roles—such as a senior underwriter or underwriter manager—could demand an industry certificate. The field has been in decline for years, with employment expected to fall 4% through 2031. However, there are about 8,400 openings each year to replace those who move to other careers or retire.
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#12. Labor Relations Specialists
– Annual median wage: $77,010
– Employment: 63,810
Labor relations specialists focus on contracts, administering and interpreting contractual provisions. A bachelor’s degree in one of the following subjects is typically required: business, industrial relations, labor relations, or human resources. The need for labor relations specialists is expected to fall 3% over the next decade, but 5,800 replacements will be required for retiring union negotiators and others who move on from the field.
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#11. Logisticians
– Annual median wage: $77,030
– Employment: 189,320
Logisticians have shined under the spotlight during the coronavirus pandemic, when disruptions upended supply chains around the world. That’s because logisticians are responsible for analyzing and coordinating supply chains. An often fast-paced and stressful job became even more difficult due to new government social distancing rules in food processing and consumer goods warehouses, as well as lockdowns in supplier countries such as China. The demand for logisticians is growing and is expected to expand by 28% through 2031.
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#10. Accountants and Auditors
– Annual median wage: $77,250
– Employment: 1,318,550
Accountants and auditors handle financial records, preparing and examining them. They typically have a bachelor’s degree in accounting or similar subjects. Becoming a certified public accountant or CPA usually will improve job prospects. Employment in the field is expected to increase by 6% over the next 10 years.
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#9. Credit Analysts
– Annual median wage: $77,440
– Employment: 68,770
Credit analysts examine financial statements and other data from individuals and companies to measure the risk of extending credit or lending money. They also prepare credit reports to be used in making loans. Credit analysts typically need a bachelor’s degree, and as of May 2021, there are more than 68,000 employed credit analysts.
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#8. Agents and Business Managers of Artists, Performers, and Athletes
– Annual median wage: $78,410
– Employment: 12,480
Agents and business managers represent and promote their clients in their interactions with their current employers and also with prospective ones. They also might handle negotiations over contracts for actors, athletes, and entertainers. There are about 12,480 agents and business managers; however, the number does not include self-employed workers.
Most agents and business managers are located in or near the Los Angeles or New York City metro areas, where the cost of living is high.
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#7. Budget Analysts
– Annual median wage: $79,940
– Employment: 47,440
Analysts in this field help plan the finances of public and private organizations. They usually need a bachelor’s degree and take courses in accounting, statistics, and economics. The growth outlook for the field is 3% through 2031, which is slower than average. However, about 4,000 jobs open up every year.
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#6. Financial Examiners
– Annual median wage: $81,410
– Employment: 60,750
Financial examiners make sure that institutions handling monetary transactions adhere to all applicable laws. They typically work in the finance or insurance industries or for the federal or state governments. They usually need a bachelor’s degree with some classes in accounting and are trained on the job. The field is expected to grow 21% over the decade, much faster than the average job growth rate.
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#5. Financial and Investment Analysts
– Annual median wage: $91,580
– Employment: 291,880
These analysts advise their clients, businesses, and individuals on how to invest their money to make a profit. More than 373,000 people, who ordinarily need a bachelor’s degree to do the job, are employed in this occupation. The field is projected to grow 9% through 2031, well above the national average rate of job growth.
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#4. Management Analysts
– Annual median wage: $93,000
– Employment: 768,450
Management analysts examine the workings of organizations to recommend ways they can improve efficiency and increase profitability. Those in the field usually have a bachelor’s degree and several years of relevant experience. The growth rate for the profession is expected to reach 11% through 2031, well above the average for all fields.
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#3. Personal Financial Advisors
– Annual median wage: $94,170
– Employment: 263,030
Personal financial advisors help their clients to manage money and plan for their retirement, children’s education, purchasing a home, and other life goals. Advisors typically need a bachelor’s degree, but a master’s degree and some industry certification, such as the Certified Financial Planner, can be helpful to advance an advisor’s career. As the population ages and Gen Xers and millennials inherit wealth from boomer parents passing on, the field is on pace to grow faster than the average throughout the economy, by 15% over the next decade.
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#2. Project Management Specialists
– Annual median wage: $94,500
– Employment: 743,860
Project management specialists oversee projects, from coordinating the budget to managing scheduling and handling staffing. Project managers usually have a bachelor’s degree, with an emphasis on business, project management, or a similar field, while industry certifications can be helpful for advancement. The field is positioned to expand by 7% through 2031, which is about the national average for all occupations.
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#1. Financial Risk Specialists
– Annual median wage: $100,000
– Employment: 54,320
These specialists analyze and measure the credit or market risks that could affect the economic health of an organization, including its assets and earnings capacity. Financial risk specialists can recommend ways to limit risk and often work for the Federal Reserve, in the securities and commodities industries, or for insurance carriers.
This story originally appeared on Santa Clara University and was produced and
distributed in partnership with Stacker Studio.
You walk into a fast-food restaurant on your lunch break. You don’t see a cashier but instead a self-service kiosk, a technology that is becoming the new norm in eateries across the country. The kiosks usually offer customers a menu to scroll through and pictures of meals and specials with prompts to select their food and submit their payment in one place.
Self-service kiosks are big business. In fact, the market for self-service products is expected to grow from a $40.3 billion market value in 2022 to $63 billion by 2027, according to a report from BCC Research. Consumers do have mixed opinions about the kiosks, but about 3 out of 5 surveyed consumers reported that they were likely to use self-service kiosks, according to the National Restaurant Association. The technology, while expensive, can boost businesses’ bottom lines in the long run.
Task Group summarized the rise in digital ordering over the past couple of years, its acceptance among customers, and a cost analysis of adopting the technology.
Self-service kiosks—digital machines or display booths—are generally placed in high-traffic areas. They can be used for different reasons, including navigating a store or promoting a product. Interactive self-service kiosks in particular are meant for consumers to place orders with little to no assistance from employees.
The idea of kiosks isn’t new. The concept of self-service was first introduced in the 1880s when the first types of kiosks appeared as vending machines selling items like gum and postcards. In the present age of technology, the trend of self-service has only grown. Restaurants such as McDonald’s and Starbucks have already tried out cashierless technology.
From a business perspective, the kiosks offer a huge upside. While many employers are looking for workers, they’re having a hard time finding staff. In the midst of the COVID-19 pandemic, employers struggled with a severe employee shortage. Since then, the problem has continued. In 2022, the National Restaurant Association reported that 65% of restaurant operators didn’t have enough workers on staff to meet consumer demand. With labor shortages running rampant, cashierless technology could help restaurants fill in for the lack of human employees.
The initial investment for the kiosks can be high. The general cost per kiosk is difficult to quantify, with one manufacturer estimating a range of $1,500 to $20,000 per station. However, with the use of kiosks, restaurants may not need as many cashiers or front-end employees, instead reallocating workers’ time to other tasks.
In May 2022, the hourly mean wage for cashiers who worked in restaurants and other eating establishments was $12.99, according to the Bureau of Labor Statistics. Kiosks could cost less money than a cashier in the long run.
But how do the customers themselves feel about the growing trend? According to a Deloitte survey, 62% of respondents report that they were “somewhat likely” to order from a cashierless restaurant if given the chance to do so. The same survey reported that only 19% of respondents had experience with a cashierless restaurant.
What would it mean for society if restaurants did decide to go completely cashierless? Well, millions of positions would likely no longer be necessary. One report suggests 82% of restaurant positions could be replaced by robots, a prospect making automation appealing to owners who can’t find staff to hire.
Due to the ongoing labor shortage, employers have tried raising employee wages. Papa John’s, Texas Roadhouse, and Chipotle were among the restaurant companies that increased employee pay or offered bonuses in an attempt to hire and retain more workers. Meanwhile, some companies have decided to use technology to perform those jobs instead, so that they wouldn’t have to put effort into hiring or focus their existing staff on other roles.
Story editing by Ashleigh Graf and Jeff Inglis. Copy editing by Tim Bruns.
It’s well-documented that the surest, and often best, return on investments comes from playing the long game. But between stocks and real estate, which is the stronger bet?
To find out, financial planning firm Wealth Enhancement Group analyzed data from academic research, Standard and Poor’s, and Nareit to see how real estate compares to stocks as an investment.
Data going back to 1870 shows the well-established power of real estate as a powerful “long-run investment.” From 1870-2015, and after adjusting for inflation, real estate produced an average annual return of 7.05%, compared to 6.89% for equities. These findings, published in the 2019 issue of The Quarterly Journal of Economics, illustrate that stocks can deviate as much as 22% from their average, while housing only spreads out 10%. That’s because despite having comparable returns, stocks are inherently more volatile due to following the whims of the business cycle.
Real estate has inherent benefits, from unlocking cash flow and offering tax breaks to building equity and protecting investors from inflation. Investments here also help to diversify a portfolio, whether via physical properties or a real estate investment trust. Investors can track markets with standard resources that include the S&P CoreLogic Case-Shiller Home Price Indices, which tracks residential real estate prices; the Nareit U.S. Real Estate Index, which gathers data on the real estate investment trust, or REIT, industry; and the S&P 500, which tracks the stocks of 500 of the largest companies in the U.S.
High interest rates and a competitive market dampened the flurry of real-estate investments made in the last four years. The rise in interest rates equates to a bigger borrowing cost for investors, which can spell big reductions in profit margins. That, combined with the risk of high vacancies, difficult tenants, or hidden structural problems, can make real estate investing a less attractive option—especially for first-time investors.
Keep reading to learn more about whether real estate is a good investment today and how it stacks up against the stock market.
Wealth Enhancement Group
Stocks and housing have both done well
REITs can offer investors the stability of real estate returns without bidding wars or hefty down payments. A hybrid model of stocks and real estate, REITs allow the average person to invest in businesses that finance or own income-generating properties.
REITs delivered slightly better returns than the S&P 500 over the past 20-, 25-, and 50-year blocks. However, in the short term—the last 10 years, for instance—stocks outperformed REITs with a 12% return versus 9.5%, according to data compiled by The Motley Fool investor publication.
Whether a new normal is emerging that stocks will continue to offer higher REITs remains to be seen.
This year, the S&P 500 reached an all-time high, courtesy of investor enthusiasm in speculative tech such as artificial intelligence. However, just seven tech companies, dubbed “The Magnificent 7,” are responsible for an outsized amount of the S&P’s returns last year, creating worry that there may be a tech bubble.
While indexes keep a pulse on investment performance, they don’t always tell the whole story. The Case-Shiller Index only measures housing prices, for example, which leaves out rental income (profit) or maintenance costs (loss) when calculating the return on residential real estate investment.
Wealth Enhancement Group
Housing returns have been strong globally too
Like its American peers, the global real estate market in industrialized nations offers comparable returns to the international stock market.
Over the long term, returns on stocks in industrialized nations is 7%, including dividends, and 7.2% in global real estate, including rental income some investors receive from properties. Investing internationally may have more risk for American buyers, who are less likely to know local rules and regulations in foreign countries; however, global markets may offer opportunities for a higher return. For instance, Portugal’s real estate market is booming due to international visitors deciding to move there for a better quality of life. Portugal’s housing offers a 6.3% return in the long term, versus only 4.3% for its stock market.
For those with deep enough pockets to stay in, investing in housing will almost always bear out as long as the buyer has enough equity to manage unforeseen expenses and wait out vacancies or slumps in the market. Real estate promises to appreciate over the long term, offers an opportunity to collect rent for income, and allows investors to leverage borrowed capital to increase additional returns on investment.
Above all, though, the diversification of assets is the surest way to guarantee a strong return on investments. Spreading investments across different assets increases potential returns and mitigates risk.
Story editing by Nicole Caldwell. Copy editing by Paris Close. Photo selection by Lacy Kerrick.
This story originally appeared on Wealth Enhancement Group and was produced and
distributed in partnership with Stacker Studio.
In today’s digital climate, consuming sports has never been easier. Thanks to a plethora of streaming sites, alternative broadcasts, and advancements to home entertainment systems, the average fan has myriad options to watch and learn about their favorite teams at the touch of a button—all without ever having to leave the couch.
As a result, more and more sports venues have committed to improving and modernizing their facilities and fan experiences to compete with at-home audiences. Consider using mobile ticketing and parking passes, self-service kiosks for entry and ordering food, enhanced video boards, and jumbotrons that supply data analytics and high-definition replays. These innovations and upgrades are meant to draw more revenue and attract various sponsored partners. They also deliver unique and convenient in-person experiences that rival and outmatch traditional ways of enjoying games.
In Los Angeles, the Rams and Chargers’ SoFi Stadium has become the gold standard for football venues. It’s an architectural wonder with closer views, enhanced hospitality, and a translucent roof that cools the stadium’s internal temperature.
The Texas Rangers’ ballpark, Globe Life Field, added field-level suites and lounges that resemble the look and feel of a sports bar. Meanwhile, the Los Angeles Clippers are building a new arena (in addition to retail space, team offices, and an outdoor public plaza) that will seat 18,000 people and feature a fan section called The Wall, which will regulate attire and rooting interest.
It’s no longer acceptable to operate with old-school facilities and technology. Just look at Commanders Field (formerly FedExField), home of the Washington Commanders, which has faced criticism for its faulty barriers, leaking ceilings, poor food options, and long lines. Understandably, the team has been attempting to find a new location to build a state-of-the-art stadium and keep up with the demand for high-end amenities.
As more organizations audit their stadiums and arenas and keep up with technological innovations, Uniqode compiled a list of the latest tech advancements to coax—and keep—fans inside venues.
Jeff Gritchen/MediaNews Group/Orange County Register // Getty Images
Just Walk Out technology
After successfully installing its first cashierless grocery store in 2020, Amazon has continued to put its tracking technology into practice.
In 2023, the Seahawks incorporated Just Walk Out technology at various merchandise stores throughout Lumen Field, allowing fans to purchase items with a swipe and scan of their palms.
The radio-frequency identification system, which involves overhead cameras and computer vision, is a substitute for cashiers and eliminates long lines.
RFID is now found in a handful of stadiums and arenas nationwide. These stores have already curbed checkout wait times, eliminated theft, and freed up workers to assist shoppers, according to Jon Jenkins, vice president of Just Walk Out tech.
Billie Weiss/Boston Red Sox // Getty Images
Self-serve kiosks
In the same vein as Amazon’s self-scanning technology, self-serve kiosks have become a more integrated part of professional stadiums and arenas over the last few years. Some of these function as top-tier vending machines with canned beers and nonalcoholic drinks, shuffling lines quicker with virtual bartenders capable of spinning cocktails and mixed drinks.
The kiosks extend past beverages, as many college and professional venues have started using them to scan printed and digital tickets for more efficient entrance. It’s an effort to cut down lines and limit the more tedious aspects of in-person attendance, and it’s led various competing kiosk brands to provide their specific conveniences.
Kyle Rivas // Getty Images
Mobile ordering
Is there anything worse than navigating the concourse for food and alcohol and subsequently missing a go-ahead home run, clutch double play, or diving catch?
Within the last few years, more stadiums have eliminated those worries thanks to contactless mobile ordering. Fans can select food and drink items online on their phones to be delivered right to their seats. Nearly half of consumers said mobile app ordering would influence them to make more restaurant purchases, according to a 2020 study at PYMNTS. Another study showed a 22% increase in order size.
Many venues, including Yankee Stadium, have taken notice and now offer personalized deliveries in certain sections and established mobile order pick-up zones throughout the ballpark.
Darrian Traynor // Getty Images
QR codes at seats
Need to remember a player’s name? Want to look up an opponent’s statistics at halftime? The team at Digital Seat Media has you covered.
Thus far, the company has added seat tags to more than 50 venues—including two NFL stadiums—with QR codes to promote more engagement with the product on the field. After scanning the code, fans can access augmented reality features, look up rosters and scores, participate in sponsorship integrations, and answer fan polls on the mobile platform.
Boris Streubel/Getty Images for DFL // Getty Images
Real-time data analytics and generative AI
As more venues look to reinvigorate the in-stadium experience, some have started using generative artificial intelligence and real-time data analytics. Though not used widely yet, generative AI tools can create new content—text, imagery, or music—in conjunction with the game, providing updates, instant replays, and location-based dining suggestions
Last year, the Masters golf tournament even began including AI score projections in its mobile app. Real-time data is streamlining various stadium pitfalls, allowing operation managers to monitor staffing issues at busy food spots, adjust parking flows, and alert custodians to dirty or damaged bathrooms. The data also helps with security measures. Open up an app at a venue like the Honda Center in Anaheim, California, and report safety issues or belligerent fans to help better target disruptions and preserve an enjoyable experience.
Story editing by Nicole Caldwell. Copy editing by Paris Close. Photo selection by Lacy Kerrick.
This story originally appeared on Uniqode and was produced and
distributed in partnership with Stacker Studio.
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