Of all bachelor’s degrees granted in the United States business has taken a considerable share amounting to one-third. Business majors’ graduates are equipped with versatile set of skills which makes them one of the most valuable set of people in the economy hence they are one of the best paid alumni according to the U.S news Bureau of Labor Statistics and worlds report. Business majors have the potential to prepare students to very high paying careers and can guarantee you a healthy return on your education investment. The jobs listed below are related to business majors and require a lot of experience, training and advanced business related education.
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- 10. Director of Accounting & Financial Reporting, $122,000
- 9. Chief Credit Officer Finance $131,000
- 8. Chief Financial Officer (CFO) $136,000
- 7. Internal Audit Director $140,000
- 6. Director, Financial Planning & Analysis $141,000
- 5. Vice President (VP), Finance $147,000
- 4. Tax Director Accounting $159,000
- 3. Partner – Accounting Firm $168,000
- 2. Chief Accounting Officer (CAO) $176,000
- 1. Chief Investment Officer (CIO) $187,000
Here are the Top 10 Highest Paid Successful Business Jobs in 2017
10. Director of Accounting & Financial Reporting, $122,000
These directors of accounting and financial reporting have the duty and mandate to manage a team of financial professionals to complete all finance and accounting related jobs for their organization. They usually supervise the process of reporting of accounts receivable and deposits and collaborate with accountants to identify the operation costs and other expenses. Usually they are positioned as strategic partners for other teams and have the mandate to oversee all tax related requirements are finalized in time .to qualify for this position you need a bachelor’s degree from an accredited institution in Accounting. Also a master’s degree in accounting, business, or finance. You are also required to be certified public accountant and some years of experience as an accountant and on supervisory position.
9. Chief Credit Officer Finance $131,000
A chief credit officer is a position occupied by a very senior manager whose role is setting and maintaining a loan policy, handling the credit and loan closing procedure and delegates the process of credit granting. He or she usually advices and gives direction to lenders, chairs the credit risk management committee and watch list. Other responsibilities that accompany this position are approving major credit exposure up to personal lending limits, managing the credit department, managing loan closing process and credit approval, observing credit policies, helping with the process of loan requests among other duties. To qualify for such a position the person is required to have a bachelor’s degree in finance and related field, an MBA, 10+ years’ experience in credit related position.
8. Chief Financial Officer (CFO) $136,000
The chief financial officer also referred to as chief financial and operating officer is accountable for the administrative, financial and risk management processes of the organizations, he or she is also entrusted with the development of financial and operational strategy, evaluation and monitoring of ongoing development and control systems that are meant to company assets and record –keeping as well as report correct financial results. He or she is also responsible for analysis of data and oversee the capital structure. Some of the qualifications required are master of business administration or finance related discipline, be a certified and chartered public accountant.
7. Internal Audit Director $140,000
The internal audit director works with internal organization resources and personnel to assess and improve financial operations. Plans and conducts internal operational financial and compliance audits, creates reports on risks, establishes quality assurance standards, oversees compliance with selected policies regulations and procedures. They are also mandated to oversee external audits, organizing paperwork and making sure audits are finished on schedule. To qualify for such a position you require a bachelor’s degree, master’s degree in one of these fields is also a requirement, Accounting, Business, Finance or any other business major and some relevant work experience.
6. Director, Financial Planning & Analysis $141,000
Director of financial planning and analysis directs and oversees competitive financial analysis and general statistical studies. They have an oversight role in most companies or organizations overseeing the development, application, and maintenance of all financial data in order to ensure its credible and accurate.in addition they are required to be actively involved in the analysis of all financial data and statistical reports and present a report on the performance while giving out the best course of action based on the data analysis.
5. Vice President (VP), Finance $147,000
Reports directly to the president. The person in charge of this position usually oversees and coordinates the organization financial planning, budget administration functions, debt financing and makes sure the organization accounting procedures and reporting are in line with the acknowledged and generally accepted accounting principles. To qualify for this position you require a bachelor’s degree in finance, accounting or business, be a holder of CPA, have a master’s degree in finance, business or accounting, 7-10 years of relevant experience among other desirable job skills.
4. Tax Director Accounting $159,000
The candidate in this position is the leader and the one who is responsible with the company’s tax compliance, accounting for income taxes and tax planning. He or she works closely with the finance department and other business departments to ensure that there is compliance with the laws and regulations. He or she is also responsible for providing expertise advisory on matters related to tax. Other responsibilities include evaluating complex income tax returns, maintain tax balances on general ledger, manage and coordinate all tax audits, recognize and mitigate tax risks among other responsibilities.to qualify for such position you require a BA in accounting, MA in taxation, proven experience of 5-10 years, among others.
3. Partner – Accounting Firm $168,000
There exists only two types of accounting firm partners namely the salaried partners and equity partners. The difference between the two is that salaried partners usually have not invested in the business financially but equity partners have invested in the business to support its operations. Some of the responsibilities within this job are the person who holds the position has the mandate to establish firm’s procedures and policies, he is the highest executive who approves projects, overall manager of all the accounting staff and constantly evaluates job performance, ensures the firms wellbeing financially, and oversee implementation of all activities, among other responsibilities.
2. Chief Accounting Officer (CAO) $176,000
The holder of the positon reports directly to CFO, and board of directors. A chief accounting officer is the overall leader and authority in charge of the accounting department of their company. They are accountable for their financial reporting functions and organization accounting operations. They are usually very key people as they monitor and ensure compliance of general accepted accounting principles, prepare and present financial statements, review and cross check financial reports, analyze accounting matters, develop and implement accounting procedures among other duties.
1. Chief Investment Officer (CIO) $187,000
The chief investment officer is top business job and undoubtedly one of the highest paying and ranking n any company or organization. He is primary answerable to the board of trustees as he’s mandated to ensure that the goals, objectives and company policies are implemented. They have the mandate to take control of company investment portfolios. Other responsibilities as CIO is designing and executing a working investment process for the company, make critical decisions regarding asset management strategies, maintain good investment relations, perform and oversee investment analysis among other duties.
In the field of business these are the highest paying careers. However as you can see to get here you need to have at least a bachelor’s degree, a master’s degree, be certified by relevant bodies, and some years of experience. But don’t be discouraged since you can work your way up to any level if you’re determined to.