Do Finance Majors Make Six Figures? Full Guide

If you are thinking about studying finance, one of your first questions is very simple:

“Do finance majors make six figures?”
(Six figures = a salary of $100,000 or more per year.)

The short answer is:
👉 Yes, many finance majors can make six figures.
But this usually does not happen in the first year. It depends on your job role, experience, location, and education level.

In this blog, we will discuss in very simple language:

What “six figures” means
Typical starting salaries for finance majors
Which finance jobs can reach six figures
How long it may take to reach $100,000 per year
Examples and simple calculations
Tips to increase your chances of a six-figure salary

All the information is based on trusted salary data from sites like Indeed and MBA.com.

What Does “Six Figures” Mean?

When people say “six-figure salary”, they mean:

The yearly salary has six digits.
Example: $100,000 → 1 0 0 0 0 0 (six numbers)

So:

$99,999 = not six figures
$100,000 = six figures
$250,000 = also six figures

In this blog, we will focus on $100,000 per year or more as six figures.

How Much Do Finance Majors Earn at the Start?

Most people do not start at six figures.
Let’s see some average salaries in the USA for people with a B.S. (bachelor’s) in finance, based on Indeed.

Approximate average yearly salaries:

Financial specialist – $51,878
Accountant – $53,510
Credit analyst – $55,807
Finance associate – $56,861
Financial representative – $61,131
Financial analyst – $71,498
Financial planner – $72,774
Financial adviser – $74,693
Risk analyst – $77,094
Certified public accountant (CPA) – $80,250
Finance manager – $90,276

You can see that most of these are between $50,000 and $80,000 per year for many roles. This is good money, but not yet six figures.

Simple Example Calculation

Suppose a new finance graduate gets a job as a financial analyst at $71,500 per year.

Monthly income (before tax):
- $71,500 ÷ 12 ≈ $5,958 per month
If the salary increases by 5% per year, how fast can it grow?

Year 1: $71,500
Year 2: $71,500 × 1.05 = $75,075
Year 3: $75,075 × 1.05 ≈ $78,829
Year 4: $78,829 × 1.05 ≈ $82,770
Year 5: $82,770 × 1.05 ≈ $86,909

Even after 5 years with 5% raises every year, salary is about $86,900, still below $100,000.

So in many cases, to reach six figures faster, you need:

Promotions (e.g., become a senior analyst or finance manager), and/or
Changing jobs/companies for better pay, and/or
Higher qualifications like MBA or Master of Finance.

Finance Jobs That Can Reach Six Figures

Now let’s look at some high-paying finance jobs where six figures are more common, especially at mid or senior levels.

Some jobs where experienced finance majors can earn $100,000+:

Equity analyst – around $102,000 per year
Financial risk manager – around $103,000 per year
Financial manager – around $103,000+ per year
Senior financial analyst – often close to or above $100,000, depending on company
Private equity associate – can cross $100,000 total compensation (salary + bonus)
Investment banker – base salary plus bonus can become well over $100,000 after some years
Chief Financial Officer (CFO) – can earn $200,000+ per year in large companies

Remember: you usually do not start directly in these high positions. People reach them after years of experience and sometimes additional degrees.

How Do Advanced Degrees Affect Salaries?

A bachelor’s degree in finance is enough to start your career. But if you want to increase your chances of making six figures, advanced degrees can help.

Master of Finance

According to MBA.com and other sources, the average salary for Master of Finance graduates in the USA is around $81,000+, with top programs leading to salaries of $150,000–$200,000 a few years after graduation.

This means:

A strong Master of Finance can help you reach six figures faster, especially if you work in investment banking, private equity, trading, or risk management.

MBA in Finance

MBA finance graduates have very high average salaries. One MBA.com report shows average salaries around $115,000+, and in finance roles it can be around $139,000.

So:

With an MBA (especially from a top business school), making six figures is very realistic, often soon after graduation.

Does Location Matter?

Yes, location is very important.

In major financial centers like:

New York City
San Francisco
London
Hong Kong

salaries are usually higher because:

Cost of living is high
Many big banks, investment firms, and hedge funds are there
Competition for talent is strong

For example, financial analysts or advisers in certain U.S. states (like New York or Washington, DC) can earn much more than the national average, sometimes $120,000+ per year in senior roles.

But remember: higher salary often comes with:

Higher rent
Higher daily costs
So the real benefit depends on how you manage your money.

How Long Does It Take to Make Six Figures?

There is no fixed rule, but we can think in simple levels:

1. Early Career (0–3 Years)

Typical roles: junior analyst, assistant, entry-level accountant, credit analyst.
Typical pay: around $50,000–$75,000 per year.
Six figures at this stage is rare unless:
- You are in a top investment bank or hedge fund, or
- You have a very strong advanced degree in a high-paying region.

2. Mid Career (3–7 Years)

Roles: financial analyst, senior analyst, financial planner, risk analyst, finance manager.
Pay: often $70,000–$110,000 per year, depending on role and location.

Many finance majors begin to cross $100,000 in this stage, especially if they:

Get promoted, or
Move to a higher-paying company, or
Finish an MBA or Master of Finance.

3. Senior Career (7+ Years)

Roles: senior manager, director of finance, controller, VP finance, CFO, senior risk manager, portfolio manager.
Pay: can range from $120,000 to $300,000+, sometimes even more with bonuses and stock options.

At this stage, six figures become very common if you stay in finance and keep growing.

Example: Simple Career Path to Six Figures

Let’s imagine a sample path:

Age 22 – Fresh graduate, finance major
- Job: Junior financial analyst
- Salary: $65,000
Age 25 – Promoted to financial analyst
- Salary: $80,000
Age 27 – Completes part-time MBA in Finance
- New job: Senior financial analyst in a bigger company
- Salary: $100,000
Age 30 – Becomes finance manager
- Salary: $120,000, plus possible bonus

In this example, the person reaches six figures at around age 27–28, about 5–6 years after graduation.

Of course, this is just an example. Some people reach six figures faster, some slower, and some may not reach it at all, depending on performance, choices, and market conditions.

Important Factors That Decide Your Salary

Here are the main factors that decide whether a finance major will make six figures:

1. Job Role

Some roles naturally pay more, especially those that:

Handle big money (investment banking, private equity, asset management)
Deal with high risk (risk management, trading)
Lead large teams or departments (finance manager, director, CFO)

2. Experience and Performance

Employers pay more when you show that you can solve complex problems, bring profit, and lead others.
Good performance reviews, successful projects, and internal networking all help.

3. Education and Certifications

Higher education and certifications can push salaries up:

MBA
Master of Finance (MFin)
CFA (Chartered Financial Analyst)
CPA (Certified Public Accountant)

These show employers that you are serious and have advanced knowledge.

4. Location and Industry

Working in a major financial city or in a high-paying industry (like investment banking, tech, energy, consulting) can increase your pay.
Working in smaller cities or non-profit organizations may mean lower pay but sometimes better work-life balance.

Simple Money Comparison Example

Let’s compare two finance graduates after a few years:

Person A – Stays in Small City

Starting salary: $55,000
Yearly raise: 3%
Stays in similar role (e.g., accountant)

After 10 years:

We calculate:

Final salary ≈ $55,000 × (1.03)¹⁰
1.03¹⁰ ≈ 1.3439

So, salary ≈ 55,000 × 1.3439 ≈ $73,915 (still not six figures).

Person B – Moves to Major City + MBA

Starting salary: $65,000
After 3 years, does MBA, then gets new job at $110,000

In this case, Person B reaches six figures in about 4–6 years, while Person A may never reach six figures even after 10 years, if they stay in the same type of job and place.

This example shows that choices matter a lot.

Tips to Increase Your Chances of a Six-Figure Salary as a Finance Major

If your goal is to make six figures, here are some practical, simple tips:

1. Choose High-Potential Roles

Focus on career paths that have strong six-figure potential, such as:

Investment banking
Equity research
Asset management / portfolio management
Risk management
Corporate finance (manager level and above)
Financial consulting

2. Build Strong Skills

Employers in finance look for:

Excel and financial modeling skills
Data analysis and basic programming (like Python, R) can be a plus
Good communication (explaining numbers in simple words)
Problem-solving and critical thinking

The better your skills, the more you can negotiate your salary.

3. Get Internships Early

Internships help you:

Get real experience
Make connections (network)
Get job offers faster after graduation

An internship at a bank, investment firm, or big company can open paths to six-figure roles later.

4. Consider Certifications

Depending on your interest:

CFA – good for investment and asset management
CPA – good for accounting, auditing, tax
FRM – good for risk management

These certificates can help you stand out and earn more.

5. Think About an MBA or Master of Finance

If possible (and if affordable), doing a good MBA or Master of Finance can:

Move you into higher-paying roles
Help you reach six figures faster
Expand your network with professionals and recruiters

6. Be Ready to Move

Sometimes, to earn more, you may need to:

Move to a bigger city
Change companies
Switch to a higher-paying industry

So, Do Finance Majors Make Six Figures?

Let’s answer the main question clearly.

Do finance majors make six figures?

✅ Yes, many finance majors do make six figures.
But usually:

Not in the first job
Not without experience
Not without choosing high-paying roles and sometimes advanced education

If you study finance, work hard, build strong skills, choose the right roles, and maybe get an MBA or Master of Finance, then earning $100,000 or more per year is a realistic goal.

Also Read: What Is The 75 15 10 Rule?

Final Thoughts

A degree in finance does not guarantee a six-figure salary. But it gives you a very strong starting point in a field where high salaries are possible and common at higher levels.

If you: