We used the latest data and insights to identify the highest paying commerce jobs so that you can learn and earn more.
You’ve probably heard that starting a business is the best way to make money. There’s some truth to that, but it’s not necessarily true for everyone. In fact, plenty of people make good money working for others.Â
If you are a commerce major, then we’ve got you covered. We recently rounded up the highest-paying jobs for commerce majors to help you make a decision.
Statistics are extracted from data provided by the Bureau of Labor Statistics (BLS), Payscale, Glassdoor, and other top job sites.Â
Let’s dive into the highest-paying jobs for commerce students.
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Table of Contents
#10. Budget Analyst
How do they get paid?
- Source: Payscale
- Low Range: $46,000 per year
- High Range: $93,000 per year
- Median Pay: $63,099 per yearÂ
What do they do?
Budget analysts work in finance and accounting departments, where they analyze and update budgets. They also:
- review proposals from other departments.
- make recommendations on how to divide costs among various functions and projects.
- recommend changes to improve profitability.
What degrees and skills are usually required?
Budget analysts usually have either associate’s or bachelor’s degrees. However, many employers prefer applicants who have a master’s degree in accounting, business administration, or some other field. There are also certification programs available for this career path.
Who’s hiring for this job?
Budget analysts work for governmental agencies, corporations, financial institutions, and retail businesses. They usually have a regular office schedule, although they may be required to work overtime during the budgeting process.
What is the best way to get this job?
You can get started in this career by taking financial accounting or related courses. After graduating, you can seek internships and part-time work at a company that uses budgets, such as a nonprofit organization or small business.
What is it to be a budget analyst?
#9. Cost Accountant
How do they get paid?
- Source: Salary.com
- Low Range: $52,817 per year
- High Range: $78,606 per year
- Median Pay: $65,227 per year
What do they do?
Cost accountants are responsible for managing a company’s costs by reviewing invoices and keeping track of expenses. They also provide financial reports to management, clients, and other stakeholders as needed.Â
In some industries, such as healthcare and construction, cost accountants may specialize in specific areas, such as purchasing or project management.
What degrees and skills are usually required?
Most cost accountants have a bachelor’s degree in accounting, but some employers may hire people with a bachelor’s degree in another field, provided they have an advanced degree in accounting. Cost accountants also need excellent organizational and communication skills.
Who’s hiring for this job?
Cost accountants work for companies of all sizes, from small businesses to large corporations. They may work in an office or on a construction site.Â
Some cost accountants specialize in a specific industry, such as healthcare or manufacturing. Others work for accounting firms or serve as internal auditors for organizations.
What is the best way to get this job?
Once you have met the educational requirements for becoming a cost accountant, you can complete an internship with a company that wants to hire you.Â
You can also get experience in the field by volunteering at a nonprofit organization or working with an independent contractor.
What is it like to be a cost accountant?
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#8. Financial Research Analyst
How do they get paid?
- Source: Glassdoor
- Low Range: $44,000 per year
- High Range: $102,000 per year
- Median Pay: $67,026 per yearÂ
What do they do?
Financial research analysts are responsible for analyzing data and providing financial market analysis. They are tasked with understanding and analyzing market trends, financial statements, and other factors affecting a company’s performance.
What degrees and skills are usually required?
Financial research is a fast-paced career that requires an interest in finance and technology. Therefore, employers typically look for individuals with a bachelor’s degree in finance or economics and at least two years of experience working in the financial industry.
Who’s hiring for this job?
Financial research analysts work for financial services companies, investment banks, and other institutions that provide financial advice.
What is the best way to get this job?
You can get your foot in the door by taking courses in accounting, finance, economics, and statistics.Â
If you’re interested in pursuing a career as a financial research analyst, start networking with people from your industry to gain insight into what it takes to succeed in this field. This will help you when you’re applying for jobs and interviewing with potential employers.
Should you become a financial research analyst?
#7. Human Resource Manager
How do they get paid?
- Source: Payscale
- Low Range: $50,000 per year
- High Range: $97,000 per year
- Median Pay: $70,146 per yearÂ
What do they do?
Human resource managers are in charge of managing people. They oversee every aspect of a company’s human resources department, including recruitment, hiring, and training. These professionals also manage employee benefits, performance reviews, payroll records, and labor relations issues.
What degrees and skills are usually required?
A human resource manager typically holds a bachelor’s degree in human resources, business administration, or another related field. This job can be a good fit for those who enjoy working with people and helping them develop their careers.
Who’s hiring for this job?
Employers may include private companies, government agencies, and nonprofit organizations.
What is the best way to get this job?
You can get this position by working your way up through a company’s human resources department. Or you can get an entry-level HR manager position at a small business.
What is it like to be a human resource manager?
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#6. Personal Financial Advisor
How do they get paid?
- Source: Salary.com
- Low Range: $50,649 per year
- High Range: $97,568 per year
- Median Pay: $70,814 per yearÂ
What do they do?
As a personal financial advisor, you’ll be responsible for helping people with their financial decisions. This may include helping them plan for retirement, saving for their children’s education, or managing their investments.
What degrees and skills are usually required?
You’ll need a bachelor’s degree in business administration or finance to get this position. Employers will also look for relevant professional certifications. In addition to a college education, you’ll soft skills such as communication, leadership, and problem-solving skills.
Who’s hiring for this job?
Personal financial advisors work for a wide range of companies. These include banks, credit unions, insurance companies, investment firms, and real estate companies.Â
Your job responsibilities will vary depending on where you work. But in general, you’ll help clients assess their financial situation and make recommendations based on their individual needs and goals.
What is the best way to get this job?
You can start your career as an entry-level financial advisor with the relevant certifications. As you gain experience, you’ll have the opportunity to move up and specialize in certain areas of finance, like retirement planning or investment management.
Should you become a personal financial advisor?
#5. Chartered Accountant
How do they get paid?
- Source: Payscale
- Low Range: $40,000 per year
- High Range: $107,000 per year
- Median Pay: $80,000 per yearÂ
What do they do?
Chartered Accountants are some of the most sought-after professionals in the finance industry. They are responsible for managing a company’s financial records and advising businesses on how to manage their money. These accountants may review companies’ financial statements before their release to the public.
What degrees and skills are usually required?
This job is demanding and requires a lot of hard work and dedication. Most chartered accountants have at least a bachelor’s degree in accounting, but many professionals in this field also earn a master’s or doctoral degree.Â
Employers also look for people who have relevant experience. This can include working as an accountant or in another job that requires financial expertise.
Who’s hiring for this job?
Chartered accountants work for businesses, corporations, and individual clients. They may also work for accounting firms or go into business for themselves.
With the relevant certifications and experience, the field of chartered accountancy is rewarding and can lead to various opportunities.
What is the best way to get this job?
The first step is to get a bachelor’s degree in accounting. This can take four years, though some schools offer accelerated programs that last only two years.Â
During this time, you will learn the basics of accounting and financial planning. You will also gain skills in business communication, research techniques, and legal issues related to the field of accounting.
Once you are certified, you may start looking for openings for entry-level positions.
Should you become a chartered accountant?
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#4. Financial Management Analyst
How do they get paid?
- Source: Comparably
- Low Range: $16,521 per year
- High Range: $447,665 per year
- Median Pay: $80,450 per yearÂ
What do they do?
If you’re looking to be part of the financial side of the business, a financial management analyst is the perfect career choice.
Financial management analysts analyze and interpret data to provide information on how businesses perform. They work with financial statements and other reports, such as budget reports and cash flow projections.Â
These finance professionals also forecast how much money will be needed to sustain operations in the future by analyzing current trends and making assumptions about future performance based on this information.
What degrees and skills are usually required?
This position requires a bachelor’s degree in finance or accounting, but some advanced positions may require a master’s degree.Â
Aside from having the right education, it’s important to have strong analytical skills and an understanding of financial statements. This can be acquired through additional education or experience.
Who’s hiring for this job?
Employers may include financial institutions, accounting firms, and in-house departments of large corporations.
What is the best way to get this job?
You can get this job by applying for a position in a company that specializes in finance, or you can get it after working your way up from the bottom. This is a good field for those who like to crunch numbers and have an interest in finance.
What is it like to be a financial management analyst?
#3. Chartered Financial Analyst
How do they get paid?
- Source: Payscale
- Low Range: $58,000 per year
- High Range: $155,000 per year
- Median Pay: $82,291 per yearÂ
What do they do?
A Chartered Financial Analyst is a professional who works in the field of financial analysis and investment. A CFA is not only someone who does accounting but also someone who provides advice on how to invest or save money for companies, governments, or individuals.
What degrees and skills are usually required?
The education requirements for this job include a bachelor’s degree in finance or business administration with a concentration in accounting, plus a minimum of three years of experience in the field. You can also earn an advanced degree, such as an MBA or a Ph.D.
Who’s hiring for this job?
Chartered financial analysts work for companies, banks, and other financial institutions. They may also work as independent consultants or analysts.
What is the best way to get this job?
Once you have completed your education requirements, you can get this job by applying at an employer’s website or by sending out applications directly to employers online.
Should you become a chartered financial analyst?
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#2. Actuary
How do they get paid?
- Source: Payscale
- Low Range: $59,000 per year
- High Range: $150,000 per year
- Median Pay: $99,341 per yearÂ
What do they do?
An actuary is a professional who analyzes financial data and uses it to plan for the future. They make predictions about how certain events will affect an organization’s finances, then design plans for dealing with them.
What degrees and skills are usually required?
A bachelor’s degree in math, statistics, or actuarial science is required. You’ll also need to pass a series of exams and have experience in the field. An actuary earns a lot of money, but the job market is competitive.Â
You can find entry-level jobs with a bachelor’s degree, but getting hired is much easier if you have at least two years of work experience or an advanced degree in math.
Who’s hiring for this job?
Actuaries work for insurance companies, banks, and other companies that deal with financial transactions.
What is the best way to get this job?
Once you’ve completed your actuarial training, the first step on the job ladder is an entry-level position in actuarial science.Â
This generally involves analyzing data, writing reports, and performing other tasks related to the company’s insurance business. As you gain experience, you’ll move up in rank and earn more money.
Should you become an actuary?
#1. Investment Banker
How do they get paid?
- Source: Payscale
- Low Range: $54,000 per year
- High Range: $208,000 per year
- Median Pay: $101,848 per yearÂ
What do they do?
Investment bankers are the people who help companies raise capital through the issuance of stocks and bonds. These professionals also help companies with mergers and acquisitions as well as other financial transactions.
What degrees and skills are usually required?
This job requires one to have a background in finance, commerce, and accounting. You need a bachelor’s degree in any of these areas and then get licensed as an investment banker.
Who’s hiring for this job?
Investment bankers work for companies, investment banks, and financial service firms. These professionals work on a team with other people who have similar backgrounds.
What is the best way to get this job?
Once you have your business degree, find out where there are openings at different firms around town. You can even apply without any experience!Â
However, if you choose this path, it’s important that you have some kind of relevant experience. This can come from working in a related field or volunteering for a non-profit organization.Â
Some companies will even accept people without experience if they have an MBA degree or another advanced degree in finance.
What is it like to be an investment banker?
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Conclusion
The world of commerce is huge, with various jobs and career paths to choose from. What’s more, it’s constantly changing, so you can’t just pick one job and hope it’ll be around forever.
The best way to find the right career is to do some research and figure out what kind of work you’re interested in. Then find out which companies are hiring for those jobs.
Once you’ve done that, go for it! And if you ever get bored or feel like trying something new, remember: there’s always room for growth.
