Business Finance Career Pathway

Bookkeepers use bookkeeping software, spreadsheets, and databases to record financial transactions, including all payments made and revenue received. They produce reports, such as balance sheets and income statements, which are reviewed and certified by an accountant. Accounting clerks do similar tasks but typically work for a larger accounting firm specializing in a particular area. Auditing clerks assist auditors in ensuring that financial transaction records are accurate and correctly classified.

2021 Median Salary
$45,560

Expected Job Growth Rate for 2020–2030
Declining

Typical Entry-Level Education
Some college

This data reflects the information available from the Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook on July 1, 2022. To learn more about this occupation, visit bls.gov/ooh/office-and-administrative-support/bookkeeping-accounting-and-auditing-clerks.htm.

Compensation specialists research compensation trends to advise management of appropriate compensation ranges for each position; they also ensure that the organization’s pay practices comply with federal and state laws and regulations, such as workers’ compensation, minimum wage, overtime, and equal pay laws. Benefits specialists administer the organization’s benefits programs, including retirement plans, leave policies, wellness programs, and health and other insurance policies, and conduct research to make recommendations regarding benefit levels, providers, and options. Job analysis specialists, also known as position classifiers, work with managers to develop job descriptions and determine the appropriate level and salary range. In small organizations, one person might take on all three roles, advising on employee compensation, benefits, and position classifications, working under the oversight of the human resources director.

2021 Median Salary
$64,120

Expected Job Growth Rate for 2020–2030
Average

Typical Entry-Level Education
Bachelor’s degree

This data reflects the information available from the Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook on July 1, 2022. To learn more about this occupation, visit  bls.gov/ooh/business-and-financial/compensation-benefits-and-job-analysis-specialists.htm.

Financial analysts guide businesses and individuals making investment decisions. They assess the performance of stocks, bonds, and other types of investments. They also make predictions about future performance by evaluating companies’ or bond issuers’ past financial performance, industry trends, and the likely impact of current business decisions.

2021 Median Salary
$81,410

Expected Job Growth Rate for 2020–2030
Average

Typical Entry-Level Education
Bachelor’s degree

This data reflects the information available from the Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook on July 1, 2022. To learn more about this occupation, visit bls.gov/ooh/business-and-financial/financial-analysts.htm.

Many accountants are self-employed; others work for accounting firms or government entities or as an employer’s in-house accountant. Accountants prepare and certify the accuracy of financial statements, including clients’ or employers’ balance sheets and income statements, as well as companies’ and individuals’ tax filings. Accountants can also advise clients regarding how to legally limit their tax liability. Many accountants are Certified Public Accountants (CPAs). Publicly traded companies are required to have CPAs sign documents they submit to the Securities and Exchange Commission (SEC), including annual and quarterly reports. Some accountants are forensic accountants who specialize in uncovering financial crimes and fraud. Others specialize in auditing or examining an organization’s records to identify fraud, waste, and abuse.

2021 Median Salary
$77,250

Expected Job Growth Rate for 2020–2030
Average

Typical Entry-Level Education
Bachelor’s degree; CPAs must also pass an exam

This data reflects the information available from the Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook on July 1,  2022. To learn more about this occupation, visit bls.gov/ooh/business-and-financial/accountants-and-auditors.htm.

Financial clerks process financial transactions, calculate bills and charges, and update and maintain financial records. Their duties vary widely, depending on the industry in which they are employed. Those in the banking industry, for example, might interview loan applicants, perform credit checks, and gather necessary loan paperwork. Those working for utility companies, on the other hand, may focus on preparing and sending bills to customers. Those in the insurance industry process insurance applications and policy cancellations or changes.

2021 Median Salary
$44,760

Expected Job Growth Rate for 2020–2030
Declining

Typical Entry-Level Education
High school diploma or GED; accounting classes are helpful

This data reflects the information available from the Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook on July 1, 2022. To learn more about this occupation, visit bls.gov/ooh/office-and-administrative-support/financial-clerks.htm.