Everybody wants to know how to make more money. Everybody wants to know how to plan for their golden years, what their credit score is, what financial considerations must be met for starting their own business and how to manage their finances when the breadwinner is no longer there. If you want to know is finance a good career path for you, you can see that it can be a varied, exciting, and powerful career path to take.
Is Finance A Good Career Path?
The finance industry is experiencing huge growth and if you want to know is finance a good career path it is, more so than other industries. A career in finance offers high pay and good benefits.
Is finance a good career path? Yes, and if you want to get into finance, there are usually two ways it can be done. You can complete high school and go to university and then apply for a graduate job or you can join an employer after you finish high school and start earning and learning on the job. People who study finance and economy have a degree with many different possible future career paths and good future prospects.
Is finance a good career path in terms of accountancy? Yes, and if you wanted to be employed by an accountancy firm, they will usually look for good academic grades from you and will want to see that you excelled in maths ad English.
Finance Requires A Good Head For Figures
The reason why the question ‘is finance a good career path’ always gets a yes is that a good head for figures can be extended even into your personal life. It is never too early or too late to make provision for your pension and as a financial expert you will know that it is important to contribute enough as these days, with good medical care, it is projected that the average person who reaches the age of 60 is likely to live on average another 30 years.
You will know that your investment contribution too must be adjusted annually so the buying power of your savings is not eroded. Investment companies often offer the option to automatically increase your contribution in line with the inflation rate.
This on-the-job training is an important part for those who have just completed high school and the training will vary across the different accounting or investment management firms. Training will usually include certified formal training and studying towards a national qualification. Banks’ retail and corporate divisions for instance will hire school leavers for apprenticeships, sometimes known as level 4 apprenticeships.
Essentially, to get started in a career in finance, you will require skills such as maths. Students can intern or they can work in a part-time position at an accounting firm or in a bank. Once a student has graduated, they will need to decide if they want to go into a big corporation or a small business.
Getting Started In A Finance Career
When it comes to finding a job in the financial realm, graduates have a number of ways to go about things to increase their exposure to the financial community. There are many job boards looking for finance experts.
A graduate who has completed an internship at a local company will have an advantage over someone who has not. With these different job boards, the Internet can be a wonderful and helpful resource to find jobs in the finance industry.
Is finance a good career path? Yes, also because there are just so many jobs to choose from in the field. Most people, for instance, may have heard about investment banking, but not everyone knows that there is actually a huge variety of finance careers just in this area that extend beyond supporting banks.
There are some financial career paths where you will be required to have skills similar to accountants, but even though accounting is part of nearly every job there is, part of the job with investment banking will focus on managing and investing. Other jobs within investment banking include among others, portfolio manager, investment banker, financial analyst, financial consultant, financial advisor, and risk manager.
The World Revolves Around Money
Opening up any kind of business such as a restaurant or bed and breakfast will also require the services of a financial expert as there will be a host of legal requirements that must be met.
Zoning rights, taxation, balancing the books of the business are all things that you will need to know and to also ensure that your new business has a healthy cash flow. Many businesses fail because of poor financial management and a financial expert can help you choose the best options.
When you ask the question ‘is finance a good career path’ long terms then yes it is, after all, money is the general medium of exchange all over the world, and just about everything we do revolves around money.
We work around finances every day of our lives, and even during Covid-19 and lockdown, finance is one of the industries that still continues. It slowed down, but it did not come to a grinding halt like some industries. Government departments remained actively involved with the procurement of personal protective equipment and other pandemic-related purchases.
As countries around the world look to rebuild their economies, finance professionals will have to tackle issues such as looking out for new opportunities for growth.
Lots Of Jobs Available In Finance
There are lots of jobs available in finance, whether you are at the end of your school career or whether you are a graduate. You will have to think about which particular sector you want to be in and which would suit your skills.
Is finance a good career path to take if you want a good-paying job? Yes, it is well known for being a high-paying field and there are certain finance sector jobs that can bring you in a 6- or 7 figure salary. Even people just starting out in the finance industry and who are in one of the bottom-rung jobs such as a financial advisor or auditor can expect a decent salary as compared to other fields.
Is finance a good career path for an accountant? Being an accountant is a popular line of work to be in when you are interested in finance and you can earn a good sum of money too. A person working as an accountant in the United States can earn roughly $66,000 a year but it can be much higher and there can be other benefits.
Accountants have a big job helping businesses and individuals to manage their finances and also comply with legal regulations. Anyone at school who likes working with figures and who has an interest in business could do well as an accountant.
Accountants also have to convey complex information to their clients. There are different job roles in accountancy and a tax accountant would not be doing the same work as a forensic accountant. Tax accountants have to be clued up as they offer tax planning advice to clients, with the aim being to help them save money and minimize tax payments and meet their financial goals while adhering to tax laws and regulations, all the while keeping their clients updated on their returns.
Apart from helping their clients with preparing tax forms, they have to be skilled in interpreting tax laws. A bachelor- or master’s degree will allow the accountant to have a certain level of expertise in their particular area of accountancy.
You Need Knowledge On Cryptocurrencies
When you are in the financial sector, you have to keep up with all the latest trends and developments. You have to know how to respond to the likes of Bitcoin and crypto-assets when clients ask you whether they should invest in cryptocurrencies or whether it is just a passing financial fad.
There are financial professionals who have the knowledge to recommend a portfolio of cryptos that can provide a steady return on investment. There are many options when it comes to investment platforms and investors want to be sure to work with financial professionals who have earned Registered Investment Advisor (RIA) status. Any professionals who want to deal with investments and finances must pass a number of licensing exams.
Many Jobs Open Up To You In Finance
If you want to know ‘is finance a good career path’, research will tell you that there is a need for financial professionals around the entire world. When you have ‘finance’ on your CV, a whole lot of job opportunities become available to you. You could become a –
- Loan Officer and earn in the region of $65 000 a year. Their job is to review loan applications and see whether funds should be given to the business or the individual requesting it. They may recommend a certain type of loan after first reviewing the person’s financial information.
- Financial Analyst and earn about $85 000 a year. They analyze the risk of certain investments. They work with individuals or corporations and will require having a bachelor’s degree. If they want to sell insurance they will need a license.
- Financial Managers can earn $128 000 a month. They have a responsible job making sure that the finances of an organization are sound. They prepare reports and are more than likely a specialist in a certain area of finance. A bachelor’s or master’s degree in this field will be a requirement.
- Financial Advisor can earn $90 000 a year. They have an important job helping people to manage their finances more effectively. They also suggest lucrative investment opportunities to their clients with long-term goals in mind such as retirement. Their advice can extend to helping with tax.
- Actuaries can earn roughly $103 000 a year. You need to be good with figures in this job as actuaries are responsible for analyzing data and determining the risks involved. They can decide whether someone is approved for insurance coverage and what premiums they will pay. You will also need a bachelor’s degree to become an actuary.
- Cost Estimator can earn $65 000 a year. Cost estimators can be employed by construction companies for instance to determine how much building materials will cost. Most cost estimators also have a bachelor’s degree.
Is finance a good career path in terms of variety? Yes, as you can see, there are many jobs where finance is a requirement and you can work in a number of different environments, from banks to corporate settings to insurance companies or running your own business. In each of these settings, you can be sure that there will be plenty of opportunities for advancement.
As already mentioned, compensation and benefits are generous although salary averages and perks will different according to experience, education, and even location.
Is Finance A Good Career Path? – An Excellent Career Choice
The knowledge, skills, and experience you have can set you up with an excellent career so that when someone else asks you ‘is finance a good career path’, you can say yes with a lot of certainties. Just a qualification in accountancy can open up doors to a host of other financial fields, but also allow you to work in any industry you like.
The reason for this is that finance is part of every business, regardless of its size. Being educated in the financial realm can be rewarding for anyone and because the financial sector is so broad, you can be fairly selective about the type of work you want to do.
Is finance a good career path? Yes, A career in finance is not all about money, though that plays a huge part, in this multifaceted industry, there are so many different positions that cater to all the different finance skills there are.