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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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.
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.
