Best States to Pursue a Career in Finance

(Image credit: Getty Images)

Thinking of pursuing a career in finance? Although it’s a lucrative career path, the field is highly competitive. In a recent study, Tipalti found which states were the best to pursue a career in finance or accounting by analyzing the number of jobs available, average salaries and university rankings. They also determined the best-paying jobs for finance graduates.

Here’s which states ranked best for a career in finance.

1. New York

Total Number of Accounting Jobs Available: 10,213
Total Number of Finance Jobs Available: 9,244
Accounting and Finance Average Salary: $117,000
Average World University Rankings Accounting and Finance Score: 79.70
Finance Career Score /10: 9.65

2. Minnesota

An image of the University of Minnesota, East Bank campus, in Minneapolis.

Total Number of Accounting Jobs Available: 2997
Total Number of Finance Jobs Available: 2,130
Accounting and Finance Average Salary: $107,000
Average World University Rankings Accounting and Finance Score: 62.80
Finance Career Score /10: 8.80

3. Illinois

Total Number of Accounting Jobs Available: 6,719
Total Number of Finance Jobs Available: 5,240
Accounting and Finance Average Salary: $114,000
Average World University Rankings Accounting and Finance Score: 35.70
Finance Career Score /10: 8.76

4. New Jersey

Aerial photo of the Pulaski Skyway bridge connecting Newark and Jersey City at sunset.

Total Number of Accounting Jobs Available: 4,472
Total Number of Finance Jobs Available: 3,361
Accounting and Finance Average Salary: $113,000
Average World University Rankings Accounting and Finance Score: n/a
Finance Career Score /10: 8.30

5. Maryland

H.J. Patterson Hall rests on the College Park campus of the University of Maryland. Prince George's County, Maryland.

Total Number of Accounting Jobs Available: 2,997
Total Number of Finance Jobs Available: 2,206
Accounting and Finance Average Salary: $109,000
Average World University Rankings Accounting and Finance Score: 54.50
Finance Career Score /10: 8.20

6. Pennsylvania

Total Number of Accounting Jobs Available: 6,060
Total Number of Finance Jobs Available: 4,368
Accounting and Finance Average Salary: $106,000
Average World University Rankings Accounting and Finance Score: 71.87
Finance Career Score /10: 8.10

7. Virginia

A picture of waterfront townhomes in Virginia.

Total Number of Accounting Jobs Available: 4,555
Total Number of Finance Jobs Available: 3,185
Accounting and Finance Average Salary: $104,000
Average World University Rankings Accounting and Finance Score: 33.02
Finance Career Score /10: 7.48

8. Florida

Florida State University historic buildings in Tallahassee.

Total Number of Accounting Jobs Available: 10,265
Total Number of Finance Jobs Available: 6,468
Accounting and Finance Average Salary: $115,000
Average World University Rankings Accounting and Finance Score: 34.74
Finance Career Score /10: 7.14

9. Georgia

Atlanta skyscrapers as seen by a camera lofted by kite over Piedmont Park.

Total Number of Accounting Jobs Available: 4,963
Total Number of Finance Jobs Available: 3,040
Accounting and Finance Average Salary: $113,000
Average World University Rankings Accounting and Finance Score: 35.99
Finance Career Score /10: 6.94

10. Connecticut

The image shows a view of the downtown of New London, Connecticut from a boat in the Long Island Sound with the Coast Guard cutter Eagle, a sailing ship, docked in the port.

Total Number of Accounting Jobs Available: 2,078
Total Number of Finance Jobs Available: 1,532
Accounting and Finance Average Salary: $101,000
Average World University Rankings Accounting and Finance Score: 31.40
Finance Career Score /10: 6.88

Overall, New York ranks as the top state to pursue a career in finance or accounting, with a finance career score of 9.65 out of 10. The state also has the highest average accounting and finance salary of any state - $117,000 a year. New York University (NYU) earned the state the highest score for its performance in the accounting and finance discipline.

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Tipalti also found the U.S. regions with the top graduate salaries, as well as the best-paid jobs for finance graduates.

Rocky Mountain/Far West Region

Accounting Graduate Salary: $61,920

Finance Graduate Salary: $64,777

New England Region

Accounting Graduate Salary: $61,500

Finance Graduate Salary: $64,050

Mideast Region

Accounting Graduate Salary: $60,183

Finance Graduate Salary: $63,100

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Best Paying Jobs for Finance Graduates
Rank	Job Title	Number of Openings	Annual Salary
1	Controller	34	$104,972
2	Entry Level Tax Preparer	760	$90,918
3	Senior Accountant	35	$78,704
4	Financial Analyst	76	$72,190
5	Accountant	114	$60,803
6	Staff Accountant	57	$60,264
7	Accounting Clerk	29	$50,206
8	Tax Preparer	34	$47,066
9	Patient Access Manager	50	$42,280

Overall, the highest paying job for finance jobs is a controller, someone who is responsible for a company's day-to-day financial reports. On average, the annual salary for a controller is $104,972, out-earning both tax preparers and senior accountants.

Erin pairs personal experience with research and is passionate about sharing personal finance advice with others. Previously, she was a freelancer focusing on the credit card side of finance, but has branched out since then to cover other aspects of personal finance. Erin is well-versed in traditional media with reporting, interviewing and research, as well as using graphic design and video and audio storytelling to share with her readers.