Creating a future through your money-savvyfinance Career Path
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Creating a future through your money-savvy
Why Choose a Career in Finance?
The thought of a career in finance is sure to conjure some images. You might imagine extremely professional looking men and women, sitting and crunching numbers in front of a computer all day, whether it’s in Wall Street, big banks, or for huge corporations. Certainly, those roles exist, but the truth is that a career in finance can lead you in a broader range of directions than you might think.
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It should be no surprise that the banking industry employs most people with a background and skills in finance. Many of those jobs involve working in the high-street banks that most of us are familiar with, whether it’s as a teller, an account manager, or a financial advisor. High finance is a subsection of retail banking that’s slightly more competitive and high-earning. This involves getting really involved in individuals’ and business finances, helping with things like investment banking, asset management, mergers and acquisitions. High finance tends to involve another level of specialization within your education.
Bookkeeping and accounting.
Accounting can sometimes be considered a different family from finance. After all, chartered accountants have their own specific career path and have almost as much legal expertise as they have financial skills. Bookkeeping is a broader role, however, in which money-smart individuals help businesses keep their finances organized. Often, bookkeepers provide advice to their clients, using their knowledge of the finance world to help them find the best deals and investments.
Those in finance often spend a lot of time helping customers and clients prepare for the future. When it comes to pensions, you might work within one of the providers, selling insurance and helping customers choose the right deal for them. There’s an industry of brokers out there, too, who act not on the behalf of the pension plan provider, but on behalf of the customer. Often, this involves scouring the market, knowing who provides what kind of plans, and choosing that which best fits the specific interests and aims of your customers.
Another kind of future planning you might be interested in is insurance. Like pensions, you can choose to work for the providers or for the customers. That said, insurance brokers have to have a level of specialized knowledge depending on what kinds of insurance they want to help customers find. There are a lot of markets, including home insurance, auto insurance, health insurance, life insurance, business insurance, and so on. Finding the right path for you could mean relying not only on your finance skills but your knowledge of other industries as well.
Financial savvy is ever one of the most in-demand skills in the job market. There are positions built for people with your money skills in just about every industry, so those well-versed in finance can find a home anywhere. Most careers in finance are fast-paced and demanding, so they’re not for everyone. If they are for you, however, the points above should give you some inspiration and the room to consider where you want to end up.
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Frequently Asked Questions
As a finance student, you’ll be eager to know as much as you can about your future career prospects. As such, we’ve compiled some of the most frequently asked questions surrounding finance careers, to help answer a few queries you may have
What Jobs Can I Get With A Bachelor’s In Finance?
Those of you with a BA in Finance will be keen to know what jobs you qualify for. The good news is there are many jobs at your disposal, even if you don’t go on to get a Master’s. Some of the finance careers you can pursue include:
- Budget Analyst
- Financial Examiner
- Insurance Underwriter
- Loan Officer
What Jobs Can I Get With A Master’s In Finance?
If you decide to further your studies and get a Master’s in Finance degree, then this opens the door to many additional job opportunities. This includes a lot of the highest-paying careers in this industry, such as:
- Financial Advisor
- Investment Banker
- Financial Manager
Are There Any Finance Internships Available?
Yes, there are plenty of internships available for finance graduates that are keen to get some additional work experience. What’s more, these internships are available in many different fields, from a financial analyst to investment banking. They’re often highly competitive, but a lot of big financial institutions are keen to hire interns, so it’s worth checking with local banks in your area to see if these opportunities are there for you.
How Do I Get A Job In Finance?
Getting a job in finance is very much the same as getting a job in any other industry. To start, you need the relevant qualifications, which you should already have with your degree. As we’ve established, you don’t need a Master’s to get a good job, but it may be essential for some roles. From here, you really need to search for appropriate jobs and ensure you have the experience to back you up. This is where it helps to get a few internships so you can add that experience to your resume. To find out what entry level finance jobs might suit you check out our list.
What Does A Financial Advisor Do?
A Financial Advisor is one of the most popular finance jobs out there. But, what does this job entail? Essentially, your role is to provide advice to individuals regarding their investments. You size up their finances and tell them what you think would be the best route for them to take. Often, you work for a company – like a bank – or you could freelance and work on your own. Along with meeting clients to discuss their financial outlook, you will also draw up financial plans and spend a lot of time studying investment patterns to ensure you always provide the best advice.
How Much Can I Earn With A Career In Finance?
Financial careers are useful in that they usually provide you with generous salaries. Naturally, your salary depends on the job you have and who you work for. Financial Managers can earn over $120,000 per year, while other financial careers can bring in around $60,000. Regardless, it’s generally seen that careers in finance will set you up with an above average wage.
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