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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| 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.
