Thinking of pursuing a career in finance? Although it’s a lucrative career path, the field is highly competitive. In a recent study, Tipalti (opens in new tab) 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.
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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
| 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.