Syracuse is well known as the economic and educational center of Central New York because it is home to prominent institutions such as Syracuse University and Le Moyne College. The city provides various career opportunities, particularly in finance, one of the most popular fields for those interested in numbers and financial strategies. Many career paths are available in finance; that’s why we’ve curated this list to help you find the right one. Without further ado, here are the top finance jobs in Syracuse.
Investment Banking
Investment banking is one of the most recognized and sought-after finance careers. Investment banks primarily assist corporations, governments, and large financial institutions in raising capital or providing advice on financial strategies. Bankers in this field often work for alternative asset management firms, such as venture capital and private equity companies.
Many professionals in this sector hold MBAs from prestigious universities, and this career path remains a traditional route for finance professionals because of its high pay and significant opportunities for advancement.
Pay and Hours
Starting salaries typically land in the mid-six figures for new graduates, with the potential for significant increases as one progresses to senior roles.
Work hours vary greatly and often depend on whether the banker is engaged in an active deal. Typical time spent ranges from 60 to 90 hours per week, with annual compensation falling between $130,000 and $350,000.
Financial Trading
A financial trader’s job typically entails executing trades for a company client or for personal gain. It is common for traders to specialize in specific products or industries, such as forex trading, equities, commodities, bonds, or stock options.
Many traders in the field hold advanced degrees in areas like statistics, mathematics, or related disciplines. It is also common for traders to obtain a Series 7 license, which allows them to sell securities in the U.S. Most financial establishments require their employees to acquire this license, and the test is conducted by The Financial Industry Regulatory Authority (FINRA). This rigorous exam covers various financial topics necessary for traders to excel in the real world.
There are also select groups of traders known as prop traders who execute trades for large firms in return for a percentage of the profits. These companies provide traders with access to capital so successful prop traders can earn substantial incomes. Positions are available at commercial banks, investment banks, asset management firms, and hedge funds. The goal is to generate profit through buying and selling securities.
Pay and Hours
Salaries can vary greatly depending on market performance, with typical earnings ranging from $70,000 to $100,000. In the U.S., market hours are from 9:30 a.m. to 6:00 p.m., so you’re traders are likely going at it during these periods.
Commercial Banker
Commercial banking services involve activities relating to withdrawals and deposits, retail bank loans, and others.
Commercial Bankers interact with customers daily, so good people skills are needed. With a high school diploma, one can begin their career as a bank teller who is in charge of communicating with clients on the frontline.
Bachelor degree holders in the fields of finance, economics, and accounting can work as loan officers who approve loans for people or businesses. While most loan officers hold college degrees, it is possible to advance from a teller to higher roles with only a high school diploma. Mortgage loan officers, for example, only need a high school diploma, though a bachelor’s degree is often preferred.
To become a commercial banker, You must have good people skills, knowledge of finance and accounting, and the ability to interpret and articulate financial information to clients.
Pay and Hours
Commercial bankers earn between $25,621 and $96,047 annually. Their work hours are standard from 8 a.m. to 6 p.m. or an equivalent 10-hour shift.
Accounting
An accountant’s job is to manage and analyze financial records for individuals or organizations. Their tasks vary by workplace, but common duties include filing financial data for tax purposes, preparing financial statements, and tracking daily transactions.
Accountants focus on past financial activity, and they differ from financial analysts, who focus on future projections. They may work for accounting firms that serve large organizations or handle accounting internally for a single company.
Most accountants hold a bachelor’s or master’s degree in accounting or a related field. An average accountant needs to earn additional certifications, such as a Certified Public Accountant (CPA), to improve job prospects.
This requires completing 150 semester credit hours, usually through a combination of undergraduate and graduate studies. Some of the necessary skills an accountant must possess include a knack for numerical details, strong analytical skills, and critical thinking.
Pay and Hours
The average annual salary for accountants is $51,546. Working hours may be flexible but can be a set standard. Most accountants work for 40 hours a week minimum. However, overtime is common, especially during the annual tax season, when working hours may extend to 60–80 hours per week.
Financial & Analyst
Financial planning and analysis professionals (FP&A) typically work within a large corporation or government organization. Their main role is to conduct financial analysis to support management decisions and provide actionable financial insights.
Unlike accountants, who focus on tracking past cash flows, financial analysts focus on making financial projections and predictions about potential profit-generating opportunities.
They usually hold a bachelor’s degree in accounting, finance, statistics, economics, or business administration, and many also pursue an MBA or a master’s degree in these fields. Strong quantitative and communication skills are essential for this role, as financial analysts must clearly explain complex numbers.
They have the potential to advance into higher positions, such as treasurer or chief financial officer.
Pay and Hours
The average annual salary for financial analysts is $69,036. Work weeks typically range from 50 to 60 hours. This may be more during busy periods.
More Career Options in Syracuse
There are many career opportunities for those living in or thinking about moving to Syracuse. Although we have mentioned some of the best ones in this article, there are still several options, such as credit counselors, portfolio managers, and finance managers. Thankfully, the city has top financial companies such as JPMorgan Chase & Co., BNY, Bank of America, and Wells Fargo. Some of the best platforms to hunt for jobs in these companies include LinkedIn, Indeed, ZipRecruiter, and Glassdoor. Whatever career path you choose to pursue, make sure you do the necessary research — we wish you the best!
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