Do finance majors make 6 figures?

Do <a href="">Finance</a> Majors Make 6 Figures?

Do Finance Majors Make 6 Figures?

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One question on the minds of many college students who are considering a finance major is: do finance majors make six figures? This is a very important question to ask, considering the amount of time, effort, and money that goes into obtaining a finance degree. The answer, however, is not a simple yes or no.

What Are Some Common Career Paths for Finance Majors?

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One of the most attractive aspects of a finance major is the breadth and depth of career opportunities available. Finance majors can pursue a wide range of career paths, including:

  • Investment banking
  • Asset management
  • Consulting
  • Venture capital
  • Private equity

Each of these career paths has its own unique set of roles and responsibilities. For example, investment bankers help companies and governments raise money by issuing and selling securities, while venture capital professionals invest in early-stage startups that show potential for high growth. Despite the differences, all of these career paths have one thing in common: a finance degree is often a prerequisite for entry.

What Is the Starting Salary for Finance Majors in Six-Figure Jobs?

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Now, on to the million-dollar question: are finance majors guaranteed to make six figures in these roles? It depends. The starting salary for finance majors working in six-figure jobs varies depending on the industry, job title, and geographic location. According to research conducted by the National Association of Colleges and Employers (NACE), the average starting salary for finance majors was $65,720 in 2019.

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However, as mentioned earlier, finance majors who pursue careers in areas like investment banking, asset management, consulting, venture capital, and private equity often earn six-figure starting salaries. According to a recent survey by Poets & Quants, the median starting salary for Master of Finance (MFin) graduates in these industries was $100,000 in 2020. The highest reported starting salary was $135,000, while the lowest reported starting salary was $50,000.

What Factors Affect Finance Major Salaries?

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Now that we know that finance majors can indeed make six figures, it’s important to understand what factors affect finance major salaries. Here are a few:

  • Industry: as mentioned earlier, some industries pay higher salaries than others.
  • Geographic location: finance majors working in cities with a higher cost of living, such as New York City or San Francisco, can expect higher salaries to offset the higher cost of living.
  • Job title: senior-level positions, such as director or vice president, typically command higher salaries than entry-level positions.
  • Education and experience: those with advanced degrees, such as an MFin or MBA, or relevant work experience may be able to negotiate higher salaries.
  • Company size and reputation: larger, more prestigious companies often pay higher salaries than smaller or lesser-known companies.


In summary, the answer to the question “do finance majors make six figures?” is a resounding “yes.” However, it’s important to recognize that not all finance majors will earn six-figure salaries right out of the gate. Those who land jobs in higher-paying industries, such as investment banking or private equity, are more likely to earn six-figure salaries. Additionally, salaries can vary depending on factors such as geographic location, job title, and education and experience. Nevertheless, a finance major can be a smart investment in your future earning potential.

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