Top 7 Career Options in Finance
A finance career generally refers to a job in the financial services industry. The term can encompass a wide range of jobs, from investment banking and portfolio management to insurance and consumer finance.
The finance industry is constantly evolving, and new job roles are being created all the time. With the right qualifications and experience, there are many exciting and rewarding career options available in finance.
In this article, we will take a look at some of the most popular career options in finance, including investment banking, corporate finance, public accounting, portfolio management, insurance, and risk management. We will also provide an overview of the skills and qualifications you will need to succeed in each of these roles.
Top Career Options in Finance
There are a variety of different career paths you can take in finance. Whether you're interested in working in investment banking, or financial planning, there's a role out there for you. Here's a quick overview of some of the top career options in finance:
Investment Banking
Investment banking is a type of financial institution that provides services to governments, businesses, and individuals. Investment banks typically deal in securities, Bonds, and other financial instruments. They also provide advisory services on mergers and acquisitions, initial public offerings, and other corporate finance matters.
Investment bankers help companies raise capital by issuing and selling securities. They also guide mergers and acquisitions and provide other financial consulting services.
Investment banks are a key part of the global financial system, and they play a vital role in helping businesses and governments raise capital. If you're interested in a career in finance, investment banking job is a great place to start.
How to Become an Investment Banker:
Investment bankers are the people who help companies and governments raise money by issuing and selling securities. They work in the securities industry.
Investment bankers typically have a four-year degree, although some have advanced degrees. They must also be licensed by the Financial Industry Regulatory Authority (FINRA).
To become an investment banker, you will need to have strong math skills and be able to understand and analyze financial statements. You must also be able to work well under pressure and be able to sell securities to potential investors.
Corporate Finance
Corporate finance is a career that involves the financial management of a company. This can include a wide range of activities, from financial planning and investment to mergers and acquisitions. Corporate finance is a demanding field, but it can also be very rewarding. If you are interested in a career in corporate finance, there are a few things you should know.
First, corporate finance is a complex field. You will need to have a strong understanding of financial concepts and principles. Additionally, you will need to be able to effectively communicate with other members of the management team. Second, corporate finance is a fast-paced field. You will need to be able to make quick decisions and adapt to changing circumstances. Finally, corporate finance is a high-stakes field. The decisions you make can have a significant impact on the financial well-being of a company.
How to Become a Corporate Finance Insurance Agent:
Are you thinking about a career in corporate insurance? If so, you may be wondering how to become a corporate insurance agent. Corporate insurance agents work with businesses to help them find the right insurance coverage for their needs.
Becoming a corporate insurance agent requires completion of an insurance education program, passing a state insurance exam, and on-the-job training. With the right qualifications and training, you can start a successful career as a corporate insurance agent.
Public Accounting
If you're considering a career in accounting, you're certainly not alone. Every year, thousands of students graduate with degrees in accounting and enter the workforce. But what is a public accounting and how is it different from other types of accounting?
Public accounting is the process of auditing and preparing financial statements for public companies. This type of accounting is governed by strict rules and regulations, and public accounting firms are typically large well-established businesses.
So, if you're interested in a career in accounting, public accounting is one option to consider. Just be aware that it's a highly competitive field, and you'll need to have strong academic credentials and work experience to be successful.
How to Become a Public Accountant:
Becoming a public accountant is a process that requires both education and experience. To become a certified public accountant (CPA), you will need to meet the requirements of your state's board of accountancy. These requirements vary by state but generally include passing the Uniform CPA Exam, completing an accredited accounting program, and meeting work experience requirements.
Once you have met all of the requirements, you will be able to apply for a CPA license and start practicing as a public accountant.
Financial Planning
Deciding to pursue financial planning as a career is a big decision. It's a field that is constantly evolving, and it requires a dedication to lifelong learning. But if you're up for the challenge, it can be a very rewarding career.
Financial planners help individuals and families set and reach financial goals. They provide advice on a variety of topics, from investing and saving to retirement and estate planning.
There are many different aspects to financial planning, and you'll need to have a good understanding of all of them to be successful. You'll need to know how to invest money, how to manage risk, and how to plan for retirement. You'll also need to be good with people, as you'll be working closely with clients to help them reach their financial goals.
How to Become a Financial Planner
A financial planner is a professional who helps people save for their future by managing their money. Financial planners can work in a variety of settings, such as banks, investment firms, or insurance companies.
Becoming a financial planner requires completing a bachelor's degree in finance or a related field and passing a financial planner exam. Financial planners need to have strong math skills and be able to understand financial concepts. They must also be able to communicate effectively with clients.
Commercial Banking
A career in commercial banking can be extremely rewarding. Commercial banks play a vital role in the economy by providing financing to businesses of all sizes. Without commercial banks, businesses would have a much harder time growing and expanding.
A career in commercial banking can be very exciting. You'll get to work with a wide variety of businesses and help them grow and thrive. Plus, you'll be able to work with a team of highly skilled professionals. If you're looking for a challenging and rewarding career, commercial banking may be the perfect fit for you.
How to Become a Commercial Banking Manager
To become a commercial banking manager, you will first need to obtain a bachelor's degree in business administration, economics, finance, or a related field. Once you have completed your degree, you will need to obtain a job as a commercial banker. After working as a commercial banker for a few years, you may then be promoted to a management role. Alternatively, you may also choose to obtain an MBA or other advanced degree, which can help you obtain a management position in commercial banking.
Portfolio Management
A career in portfolio management finance requires a deep understanding of financial markets and investments. As a portfolio manager, you will be responsible for making investment decisions and managing the risk of a portfolio. This career path is often suited for those who have strong analytical and problem-solving skills.
There are many different career paths in portfolio management finance. Some people choose to work in investment banking, while others may become financial analysts or portfolio managers. No matter what route you take, a career in portfolio management finance can be very rewarding.
How to Become a Portfolio Manager
If you are interested in a career in portfolio management finance, there are a few things you should know. First, you will need to obtain a bachelor's degree in finance or a related field. Additionally, you will need to gain experience in the financial industry. Finally, you will need to obtain the necessary certifications.
Risk Management
A risk management career in finance can be a very rewarding and lucrative profession. With the right skills and knowledge, a Risk manager can help businesses and individuals make sound investment decisions, while also protecting them from financial risks. And provide a methodology to identify and analyze the financial impact of loss on the organization, employees, the public, and the environment.
If you're interested in a career in risk management, there are a few things you should know. First, you'll need to have a strong understanding of financial concepts and regulations. You'll also need to be able to effectively communicate with clients and other professionals. Finally, you'll need to be able to stay calm under pressure and make quick decisions when necessary.
If you have these skills and qualities, a career in risk management could be a great fit for you.
How to Become a Risk Manager
If you're interested in a career in risk management, there are a few things you can do to get started. First, get a degree in business or finance, this will give you the foundation you need to understand the complexities of businesses and financial markets. Second, gain experience in the field, and look for internships or entry-level jobs at risk management firms. This will give you a chance to learn from experienced professionals.
Benefits of Having a Career in Finance
High earning potential:
Careers in financial services pay a great deal more than most other fields, with some of the highest-paying entry-level positions. On top of that, if you work hard early on, you can very quickly make huge strides forward in your career and experience a generous increase in pay.
Being highly demanded in virtually every business, finance workers are offered relatively good pay as their services are some the highly essential and demanded in the market.
According to the Bureau of Labor Statistics, the median salary for finance and insurance occupations is $81,690 per year, which is much higher than the median salary for all occupations. And the job outlook for finance occupations is good, with an expected growth of 7% from 2019 to 2029. But money isn't the only reason to pursue a career in finance. Finance careers can also be very rewarding, both personally and professionally.
Job Security:
Job security is an important perk to a career in Finance, as it is an in-demand occupation. Positions in the field are generally secure. Because Finance is fundamental to everyday life, there are many job options available. Losing a job position in one company would thus not leave a finance graduate unemployed for long before securing another employment opportunity in another company. Also, the high demand for the skills gives the employees the bargaining power to negotiate for better pay or a good working environment.
Balanced Lifestyle:
Many jobs in the financial sector allow for a fairly balanced lifestyle between work and personal life, especially for those who are independently employed and can choose their schedule.
Varying Career options:
The financial sector is diverse and full of many different career options for professionals. There are a wide variety of specializations one can attain to focus on one aspect of the financial sector.
A graduate specializing in finance can work in numerous job options available in the market today. The versatility of the field implies that such a person cannot miss a job. The diversity of the jobs also implies that a candidate working in any of the fields that they are competent in would have their skills greatly enhanced in the long run.
Better Chance of Career advancement:
A job position in finance gives workers the incentives to pursue higher or further education to advance their careers and gain more skills. Most workplaces also promote the element of career advancement by sponsoring their workers to take higher courses in finance.
Employers in the financial sector like to see their employees continue advancing their education. Earning a higher degree also means earning a higher paycheck, so that effort to educate yourself pays off.
Conclusion
In conclusion, the most popular career options in finance include investment banking, asset management, public accounting, portfolio management, and risk management. To succeed in any of these roles, you will need to possess strong analytical and mathematical skills, as well as excellent communication and interpersonal skills.
If you want to learn more about a career in financial services, please reach out to our finance expert today. You can also browse our finance job listings, or submit your proposals here.
So, why would you like to work in finance? Let us know in the comments below!
Last Modified: Nov 2, 2022