If you’re interested in financial markets and enjoy working with numbers, a job in finance might be for you. There’s a lot of money to be made in the finance industry, and many professionals can earn six-figure salaries. There are many different jobs related to finance, and it’s worth taking time to decide which is best for you, basing the decisions on your interests and skills.
The type of organization you’d like to work for, salary expectations, and the possibility for career advancement are also important factors. Sometimes, you can even secure a position in finance without the relevant qualifications. Some employers value experience and people skills over finance-based degrees. However, these jobs often require new hires to attend classes toward a finance degree or certificate while working. They often pay for the continuing education, though.
A financial planner helps their clients plan for their future. They spend much of their time advising clients to make decisions about their money, as well as helping them to meet their long term financial goals. Want to retire at 55? A financial planner will help ensure you’re on the right path. Prefer to travel after you retire? They’ll help guide your investments now so that you have financial independence to do what you want. Financial planners watch for trends in investments and stock markets and use this knowledge to advise their clients.
Financial planners need to be able to crunch numbers and must have a firm understanding of accounting principles. Both are vital in putting together plans for investors. They must also be good with people as their clients will need to trust them to handle their personal finances. Excellent interpersonal skills, as well as sound financial knowledge and an appropriate degree, are perquisites of acquiring a position as a financial planner.
A financial analyst researches stocks, companies, bonds, and industries. They help investors, bankers, and corporate finance officers make decisions about stock/bond offerings, acquisitions, and mergers. Their role is often key in corporate restructures, mergers, and growth. Analysts are often driven people that love examining data and making educated decisions. This is one of the jobs in the finance field that pays really well.
Financial analysts put together models and reports that forecast and predict how an investment might impact the bigger picture. Their reports are often used to make major investment decisions.
Accountants basically prepare and look over your financial records. They make sure that all the records are complete and accurate, Another responsibility for accountants is often making sure that their clients taxes get paid correctly, and on time.
Accountants may also delve into your financial records, making sure that your company is running smoothly and efficiently. Additionally, they prepare reports that are presented to company leaders that showcase profits, losses, and financial trajectories. They’re comfortable using graphs, charts, and other types of visuals. Accountancy jobs can range from entry-level positions right up to financial management positions with corporations, or leadership with government agencies. To reach the top of the field, professionals should have finished school. Many accounting jobs require a bachelor’s or master’s degree in finance or accounting.
Investor Relations Associate
Investor relations associates often work hand in hand with people that have invested in their company. One example is investors or stakeholders in a bank. You’ll field phone calls from investors, keep apprised of goings on, and create financial data reports. You’ll need strong communication, writing, and organizational skills. Investor relations professionals need to be able to evaluate, understand, highlight, and present information from complex financial statements in ways their clients can understand. There are many tools to help with this and a bachelor’s or master’s degree in a finance-related field is highly recommended.
Budget analysts help organizations and companies allocate their financial budgets. Sounds easy right? Well, there’s actually more to it than that. They develop the budgets for these companies, then make sure that the company is sticking to it. A budget analyst may also review budget requests from departments within the company and make sure they have enough money to operate. There’s also the legalities of making sure that everything regarding the budget is above board, and there are no issues. Budget analysts can be found working in the government, business, and non-profit industries.
Budget analysts need advanced communication skills, as well as good math and writing skills. They should also be detail oriented. A degree in a finance-related field is also recommended.
Lots of people have heard of actuaries, but few know what they actually do. Actuaries are the people that assess risk, and the financial consequences of said risk. Using a combination of math, statistics, and financial theory, actuaries study uncertain future events. Many actuaries work on things that are related to pensions and insurance programs.
Actuaries are highly paid, with many making $250,000 a year or more. However, it’s a very long process to become fully qualified. After graduating with a finance degree, there are 10 actuarial exams to pass. This generally takes an additional 7 or 8 years. Oftentimes, actuaries work for insurance companies, governments, hospitals, banks, or investment firms.