Have you ever dreamed of working in finance? With finance, people often think about money, stocks, and investments. Finance indeed is all of those things. But finance is also a field of study that involves strategy, theory, and decision-making. A career in finance can be both exciting and rewarding. If you’re good with numbers and have a head for business, a career in finance made be a fit. Let’s look further into this field of work.
Reasons To Consider a Financial Career
Rewarding Compensation
In finance, you can earn a good living. According to the U.S. Bureau of Labor Statistics, the median annual wage for financial managers was $127,990 in May 2019. If you get involved with trading stocks or commodities, you have the potential to earn even more. Some people in this field make millions of dollars per year.
Job opportunities in the field are expected to grow 16% from 2018 to 2028, much faster than the average for all occupations.
Variety of Work Options
The finance field offers a variety of work options. You could work in corporate finance, investment banking, commercial banking, financial planning, insurance, or real estate.
You may have the role of a:
- VP Finance
- Financial Analyst
- CFO ( Chief Financial Officer)
- Credit Manager
- Commercial Loan Officer
- Investment Banker
- and more
Intellectually Challenging
A career in finance is intellectually challenging. You’ll be working with numbers, but you’ll also need to understand complex financial concepts and strategies. Some concepts include investment valuation, portfolio management, and risk management.
Prestige
There is a certain prestige that comes with working in finance. When people think of finance, they often think of Wall Street and the stock market. While you may not work on Wall Street, you’ll be associated with a field that is synonymous with power and success.
Opportunities for Advancement
In finance, there are opportunities for advancement. If you start in an entry-level position, you could eventually move up to become a financial manager or an investment banker. Career advancement can happen quickly in finance, especially if you’re willing to put in the long hours.
Opportunity to Make a Difference
In finance, you have the opportunity to make a difference. You can work for a non-profit organization or a socially responsible company. You can also work in the public sector, such as for the government or a financial regulator.
In the financial field, you and your company will have the financial means to sponsor social programs or invest in companies that are making a difference.
Networking Opportunities
A career in finance offers networking opportunities. You’ll meet people from all walks of life, including other professionals in the finance industry, business leaders, and politicians. You never know who you might meet at a financial conference or networking event.
Travel Opportunities
If you work in finance, you may have the opportunity to travel. You could travel to other countries to meet with clients or attend financial conferences. You have the chance to travel or live in the top financial hubs in the world such as New York, London, Singapore, or Geneva.
Work in a Dynamic Environment
The finance industry is dynamic and ever-changing. You’ll always be learning new things and keeping up with the latest financial news. This can make finance an exciting field to work in. With the combination of finance and technology, there is a whole new section in the field brewing, such as cryptocurrences and fintech.
Help Others with Their Finances
A career in finance can also be rewarding because you’ll be helping others with their finances. You could work as a financial planner and help people save for retirement or college. You could work as a loan officer and help people finance their homes or businesses. You could also work in insurance and help people protect their assets.
Final Thoughts About a Career in Finance
A career in finance can be personally satisfying. If you’re good with numbers and have an interest in the financial markets, then a finance career may be right for you. One way you can transition into finance is with an online MBA finance program.
