By Matt Whittle
Individuals with analytical minds and strong attention to detail make good candidates for in-demand careers in finance. This field offers many roles beyond trading on the stock exchange floor, though many positions still include financial forecasting and investments for businesses and clients.
As the finance and tech worlds overlap more, professionals in these sectors can maximize returns on investments for individuals and organizations. This guide explores whether finance is a good career path, including salary data for finance jobs, projected employment growth rates and answers to frequently asked questions.
The Benefits of Working in Finance
Finance degree jobs can provide relatively high pay, stability, opportunities for advancement and consistent demand projections. Careers in finance may also offer flexibility for employees by allowing them to work remotely or in hybrid environments.
TheU.S. Bureau of Labor Statistics(BLS) projects that business and finance jobs will be in demand from 2022 to 2032, with 911,400 openings on average each year. Certain roles within finance, like financial examiner, are expected to grow over six times faster than the rate for all occupations nationwide.
Finance professionals also earn above-average salaries. BLS data indicates that personal financial advisors earned a median annual income of nearly $95,390 as of 2022, more than double the median annual salary for all occupations nationwide. Financial analysts—among the most common careers in finance—earned a median annual salary of $96,220.
In fact, the BLS reported relatively high pay for business and financial occupations overall. These professionals earned a median annual salary of $76,850, or about $30,000 more than the median annual wage for all jobs in the United States.
Cutting-edge developments at the intersection of finance and tech (fintech) allow finance professionals to stay up to date in an evolving field. The need for knowledgeable workers to assess investment opportunities will continue to drive demand for careers in finance.
Finance professionals can also pursue advanced roles in the field to take on more responsibilities and increase their pay. With more education, experience or certification in specific areas of finance, professionals can work infinance degreejobs as portfolio managers, chief financial executives and senior financial analysts.
Read the full article here: https://www.forbes.com/advisor/education/business-and-marketing/careers-in-finance/
FAQs
Finance degree jobs can provide relatively high pay, stability, opportunities for advancement and consistent demand projections. Careers in finance may also offer flexibility for employees by allowing them to work remotely or in hybrid environments.
How to answer why do you want to pursue a career in finance? ›
Tips to answer "Why do you want to pursue a career in finance?"
- Showcase your passion. ...
- Highlight your analytical skills. ...
- Discuss the impact. ...
- Emphasize the challenge. ...
- Show your understanding of the industry. ...
- Link it to your skills. ...
- Highlight the potential for continuous learning. ...
- Discuss the potential for growth.
Understanding money is central to the finance major, so you should be detail-oriented and comfortable working with numbers. At the same time, work in finance also involves a lot of interaction with other people, so communication skills are also important.
How do you prepare yourself for a finance job? ›
But to help you out, we've asked some of our financial industry experts for their insight on how you can land your new financial job.
- Get to the point. ...
- Know your finances. ...
- Make yourself the added value. ...
- Talk confidently about the industry. ...
- Engage with the interviewer. ...
- Keep learning.
How to Become a Financial Analyst with No Experience?
- #1 Do as much networking as possible. ...
- #2 Learn the Wall Street lingo and follow current events. ...
- #3 Start and maintain a finance blog. ...
- #4 Leverage your university career center. ...
- #5 Use a Trading Simulator. ...
- #6 Enroll in an online financial Analyst training program.
The Benefits of Working in Finance
Finance degree jobs can provide relatively high pay, stability, opportunities for advancement and consistent demand projections. Careers in finance may also offer flexibility for employees by allowing them to work remotely or in hybrid environments.
What attracts you to a career in finance? ›
I want to work in finance because I enjoy the challenging nature of the industry and how fast-paced it is. I thrive under pressure. I enjoy problem-solving and analyzing data, but also realize that finance is not just about the numbers, it is about the people too.
How do I know if finance is for me? ›
If you are interested in solving problems in creative ways or helping companies to plan how to grow their revenue or maintain profitability, a finance major is right for you. A Bachelor of Science in Finance will help you develop multiple skillsets with a great outlook for success after your graduation.
Why did I choose finance as my major? ›
A finance degree can open doors to a broad range of dynamic professional opportunities — often with high earning potential in diverse industries. Finance majors learn fundamental business skills that can translate to careers in a variety of organizations in the public, private, and nonprofit sectors.
What do you hope to learn in finance? ›
Finance majors can develop a variety of in-demand skills and gain a better understanding of important areas such as risk management, data analytics, investment strategy and capital allocation.
For Entry Level Financial Analysts, a one-page resume is typically sufficient. Since you may not have extensive work experience, focus on highlighting your relevant skills, education, and any internships or projects that demonstrate your ability to analyze financial data and make informed recommendations.
How to learn about finance for beginners? ›
Listening to podcasts and reading books about specific areas of finance that interest you help break down more complex financial topics and speed up the learning process. There are also many paid and free courses out there that offer courses in different areas of finance and investing.
How do I choose a finance job? ›
Choosing a Profession in the Finance Industry
- Finance Career Character Traits.
- Don't Discount Internships.
- Secure Valuable Work Experience.
- Professional Securities Licenses.
- Finance Industry Training Programs.
- Moving Up the Ranks.
- Long-Term Career Objectives.
- The Bottom Line.
One of the most difficult jobs in Finance is to be the CFO of a PE firm or a PE-backed company. According to a Big 4 firm's survey, turnover of CFOs in PE and PE-backed companies is notoriously high, reaching 80% in less than five years; half of whom are gone within three years.
What is the highest paying finance job? ›
Highest-paying finance jobs
- Investment banker. ...
- Hedge fund manager. ...
- Financial analyst. ...
- Information technology auditor. ...
- Financial software developer. ...
- Private equity associate. ...
- Chief compliance officer. ...
- Chief financial officer.
How to become a financial analyst
- Earn a degree. ...
- Boost your skills with an online class. ...
- Get a certification. ...
- Gain work experience. ...
- Prepare for your job search.
A finance degree can open doors to a broad range of dynamic professional opportunities — often with high earning potential in diverse industries. Finance majors learn fundamental business skills that can translate to careers in a variety of organizations in the public, private, and nonprofit sectors.
Why do you want to pursue this career answer? ›
When answering “Why did you choose this career?” you can point out factors like growth prospects, job security, scope, etc to help make a valid explanation. A possible answer to this HR interview question can be, “I have always found a certain satisfaction in writing and knew I wanted to make a career in content.
Why did I choose finance specialization? ›
It provides a wide range of opportunities in various fields, including insurance, banking, investment, and the stock market. The MBA in Finance is currently a well-known and favoured career option for people worldwide. An MBA in Finance can help you develop and improve your leadership, creativity, and other talents.
Why do you want a career in financial planning? ›
A financial planner can be a rewarding job that helps others financially plan for their life goals. It can also be a demanding job with such responsibilities and the necessary knowledge and skills required to do it well.
