1. Pension administrator | Average salary: $54,000 | Requires minimal analytical skills as it focuses on administering retirement plans and keeping organized records.
2. Business development manager | $74,000 | Selling a financial service company’s products or services requires organization, communication, adaptability and enthusiasm.
3. Execution trader | $72,000 | Carries out the strategies of others and achieves “best execution.” By trading securities strategically, strives to get the best possible prices over a period of time.
4. Investment banker | $139,000 | Though quantitative analytics skills are a bonus, investment banks look for sharp, motivated people who will demonstrate aptitude and social prowess.
5. Relationship manager | $56,000 | A professional who works to improve a financial services firm’s relationships with both partner firms and customers.
6. Financial advisor | $47,000 | Works with clients to establish long- and short-term financial goals; sometimes specializes in such areas as retirement and risk management.
7. Family office director | $71,000 | Single- and multifamily offices provide two principal categories of services: wealth management and administrative and lifestyle services.
Analysts at Morgan Stanley and Oliver Wyman predict that spending on quants and technologists will rise to 25% of front-office compensation in the future, up from 5% today.
In the back office, they expect spending on quants and techies to rise to 60% of the total wage bill, up from around 35% today.
Where does that leave someone interested in a career in finance who is not a quant or a technologist? In fact, a number of career opportunities are still available to those have little or no technical background.
Nick Cromydas, CEO and co-founder of Hunt Club, a tech-enabled recruiting service, has created a list of the top seven financial services jobs that do not require quantitative analysis or coding skills.
Have a look at these seven jobs and their average base pay, according to Glassdoor.
— Related on ThinkAdvisor:
- 10 Best College Majors for Getting Hired
- 30 Best Paying College Majors: 2018
- What the Automation Monster Means for Advisors, Broker-Dealers