The Long and Short of Wall Street Jobs
Take a walk through careers in the world’s financial center.
In the 1600s, the Dutch carved out a homestead there and named it New Amsterdam. They built a 12-foot wall that ran the width of what is now Manhattan between the East and Hudson Rivers. The wall deflected pirates and tribes, but not the British, who dismantled it in 1699. The wall fell, but the name stuck.
Today, Wall Street encompasses eight blocks in Manhattan. It’s also a term that refers to finance in general. People with Wall Street jobs include anyone who works in financial markets around the U.S., not necessarily just on the famed street itself.
Who Works in Jobs on Wall Street?
You might consider looking for jobs on Wall Street if you’re interested in working in finance, understand how the stock market works, and thrive in a fast-paced and often stressful environment.
The Bureau of Labor Statistics predicts that jobs like stockbrokers, will continue to grow by 10% over the next 10 years, which is faster than the average for all occupations.
How to Get a Job on Wall Street
Let’s take a walk around the New York financial district and talk about how to get a job on Wall Street.
The earlier you set your sights on getting one of these coveted Wall Street jobs, the better. As early as high school, you can prepare for a Wall Street career by getting top grades in math, economics, and accounting. Fill your elective courses with more specific classes like microeconomics to help you learn how to work on Wall Street.
Each year, Wall Street companies target a select group of colleges as the best places to find candidates for entry-level Wall Street jobs. Along with Ivy League schools like Harvard and Columbia, you’ll find Wall Street recruiters on the campuses of top schools like Duke, Georgetown, and the University of Chicago.
Obtaining a B.A. or B.S. in business, economics, finance, and similar fields will make you more attractive to employers like investment banks. In today’s competitive market for Wall Street jobs, the best candidate is one who goes on to get a master’s degree, especially an MBA. Another boost to your resume is a finance internship on Wall Street or a well-known local company.
5 Common Jobs on Wall Street
What are some Wall Street jobs you might be interested in? Here’s a list of some of the most common positions on Wall Street, what education and experience you need to get them, and the average Wall Street salary for each one.
1. Financial Analyst
Job Function: If you become a financial analyst, you will monitor the performance of investments like stocks and bonds. You’ll use that research to help your company or client make sound investment decisions.
Education and experience requirements: Most Wall Street analysts need a master’s degree in finance.
Average salary estimate on Wall Street: Financial analysts make a median salary of $90,773, with a range from $73,160 to $119,507.
Typical career paths: A financial analyst can go on to become a senior financial analyst, equity research analyst, investment/portfolio analyst, or CFO.
Search for financial analyst jobs on Monster.
2. Stockbroker
Job Function: You’ve probably watched movie scenes with stockbrokers scurrying around the trading floor buying and selling stocks. When they’re not actively buying and selling, they also advise clients about what investments to make and may manage an entire portfolio of securities.
Education and experience requirements: Most stockbrokers start out with a bachelor’s degree in a business-related field. You must also study and pass the General Securities Registered Representative Certification exam to work as a stockbroker.
Average salary estimate on Wall Street: The median salary for a Wall Street stockbroker is $91,636, with a range from $37,422 to $174,386.
Typical career paths: Stockbrokers have several ways they can take their careers, from becoming an investment operations analyst to a stock market analyst or a business banking manager.
Search for stockbroker jobs on Monster.
3. Internal Auditor
Job Function: As an internal auditor, you would examine your company or clients’ internal financial records to report on their financial status and review accounting to ensure it is accurate.
Education and experience requirements: You’ll need an accounting degree at the bachelor’s or master’s level.
Average salary estimate on Wall Street: The median salary for an internal auditor on Wall Street is $91,097, with a range between $71,084 to $157,550.
Typical career paths: A successful internal auditor can grow into an internal audit manager, financial reporting manager, or CFO.
Search for internal auditor jobs on Monster.
4. Economist
Job Function: Economists must keep up with quickly changing financial trends, interpret them, and then provide a company or clients with reports and suggestions to take advantage of or avoid a trend.
Education and experience requirements: You need a master’s degree or Ph.D. in economics.
Average salary estimate on Wall Street: Economists make a median salary of $106,189 within a range of $62,085 to $140,391.
Typical career paths: An economist may set their sights on a job as a senior data scientist, portfolio manager, or policy analyst.
Search for economist jobs on Monster.
5. Actuary
Job Function: An actuary researches and calculates the risk of various business actions and suggests solutions to mitigate those risks.
Education and experience requirements: To be an actuary, you’ll need a bachelor’s degree focusing on math, statistics, and business, plus an actuary certification.
Average salary estimate on Wall Street: The median salary for an actuary is $111,343, with a range from $75,266 to $159,273
Typical career paths: Actuaries can go on to become data scientists, quantitative financial analysts, and senior data scientists.
Search for actuary jobs on Monster.
5 of the Highest-Paying Jobs on Wall Street
You may be curious about the most prestigious and highest-paying Wall Street jobs. Here is a list of the big dogs and top cats on the street:
6. Chief Financial Officer
Job Function: As a CFO, you are second in command to your organization’s CEO and oversee all your organization’s financial activities. This includes monitoring cash flow, identifying financial strengths and weaknesses, and developing strategic directions.
Education and experience requirements: You must have at least a master’s degree in business administration, accounting, or finance, a CPA license, and eight to 10 years in a financial management role to be a CFO.
Average salary estimate on Wall Street: A New York CFO makes a median salary of $175,838. CFO salaries start at $111,378 and go as high as $250,158.
Typical career paths: A chief financial officer is often promoted to CEO or COO.
Search for CFO jobs on Monster.
7. VP/Director of Finance
Job Function: Financial forecasting and strategic planning are the responsibility of the director of finance.
Education and experience requirements: An MBA is a must for someone in this position, along with at least 10 years working in finance or accounting.
Average salary estimate on Wall Street: The median salary for a VP or director of finance is $152,506, with a range between $111,899 and $202,256.
Typical career paths: When you’re in this top financial role in a company, controller or CFO is the next logical career step.
Search for VP/director of finance jobs on Monster.
8. Chief Technology Officer
Job Function: A CTO oversees an organization's software development and technology.
Education and experience requirements: To be a chief technology officer, you’ll need a master’s degree and many years of experience. The CTO of a company needs a broad base of experience in technology, finance, and operations.
Average salary estimate on Wall Street: A median salary for a New York CTO is $162,881. This may vary from $90,214 to $199,904.
Typical career paths: A CTO could transition to be a CEO.
Search for CTO jobs on Monster.
The Word on the Street Is that Monster Is the Place to Find Wall Street Jobs
Are you ready to see what Wall Street jobs might be a good fit for you? Stroll through the job postings on Monster to find a direction. Take a rest stop and complete your Monster profile. This puts you front and center for recruiters and hiring managers who are looking to put you on Wall Street. Your profile preferences will also tell us what job postings and career advice you’d like to see in your inbox.