Picking up a career in the finance discipline/sector, is that even something worth doing? Well, the truth is that people are succeeding in different career paths – whether it is finance, stocks, media, politics, and many other niches.
Actually, this isn’t to scare you from making your life choice decision. Choosing the finance sector as your preferred career path may be the best life decision you could make for yourself. Notwithstanding, it could be the worst decision still.
So, is finance a good career path? Working with money can be a good way to make money, you know? This article explains the details you need to know about finance careers.
Is Finance A Good Career Path For You?
Yeah, there are pretty many opportunities in the finance sector; you could be a banker, or chartered accountant, get into investment banking, and many other careers available in the finance sector. More, the high lucrativeness of the finance sector could catch your interest; yeah, jobs in the financial sector are in high demand and can be highly lucrative.
However, to get a good job in the finance sector, you need some certificates. Of course, a four-year degree is standard to get a job in the sector, but some of the high-paying jobs require you have advanced degrees in specific disciplines such as mathematics, business, statistics, or economics.
According to a 2021 report from the Bureau of Labor Statistics, the middle-average annual wage for all business and financial occupations was $76,570 in May 2021; this is apparently higher than the $45,760 middle-average for all occupations. Even so, some professions in the finance sector earn much more.
Looking out for a career in finance starts with acquiring the needed skills and disciplines. Apparently, finance isn’t for everyone; without the right combination of hard and soft skills, you won’t make a way in the sector. “You’ve got to be a numbers person for anything in accounting and finance,” Arjun Kapur, Managing Director of Forecast Labs.
Skills Required To Get Into The Finance Business
Actually, the required skillset depends on the type of job you’re going for. Most jobs in finance require you know a little bit – or much more – about mathematics, statistics, and spreadsheets.
Some finance jobs would require you have very high communication skills because such jobs will see you frequently communicating with high-profile clients.
So, the skills required to get a job in finance; you have to identify the job you want and go on to acquire the skills and disciplines required for that particular job.
Popular Finance Careers To Consider
- Actuary
- Investment banker
- Regular bank (working in a bank)
- Financial analyst
- Portfolio manager
- Financial planner
- Economist
- Securities trader
- Financial manager
What More?
Looking above the monetary gains in finance careers, there are some drawbacks you may find hard to cope with. Some noteworthy drawbacks in the finance sector include continuing education requirements, longer working hours, high stress, and, in some cases, limited job stability (you could get laid off pretty soon when your qualifications seem not to match anymore).
