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When we talk about careers in finance options to choose from simply become unlimited. The best part about studying finance is that you can get a job in any part of the world so you will not be geographically restricted in any way. out of several options in finance career available the best one yet is none other than banking. Annually most of the finance graduates get into banks to peruse a challenging career. The reason why banking is such a popular place for finance graduates is because the variety of positions available you can get into commercial banking, investment banking, financial planning, corporate financing or simple money management. Each one of these positions offers you great chance to climb the ladder of success smoothly. Finance is one field that never goes out of demand in fact the need of employers in finance department just keeps on growing every year by a large number. The reason being as long as the money making process will be on going in the world, financiers will be required to handle the cash flow of the companies. To be successful financier you need to have the power of thinking strategically. The better you are able to understand complicated matters quickly the better financial decisions you will be able to make. You also need to have certain amount of leadership qualities, have proper knowledge of risk management and possess firm problem solving skills. Since we have already talked about how finance can take you to all corners of the world it will greatly add to your benefit if you know two to three languages. You should be careful about the degree you choose because it will define your career path. With an Associates Degree you will very lucky if you end up at a good job. Where as Bachelor's Degree can get you jobs in accounting firms or banking sector. If you wish to earn above $ 30,000 annually then you should go for Masters Degree as it will take you to heights. With a Bachelors Degree you can earn somewhere below $ 40,000 and above $ 25,000. Every degree comes with certain courses that are mandatory for you to choose. Some of the courses that you will studying nearly in all the degrees are Management and Leadership, Human Resource Management, Finance and Accounting, Investment Management, Public Finance, Non Profit Finance, Risk Management and Marketing and Sales. It is not necessary that every degree offers these courses it will largely depend upon which university and degree you opt for.
The career of finance is very broad and diverse. You can enter into banking, mortgage brokering, accounting, insurance, or securities, just to name a few. Just like the career field, your finance education can be just as varied. To help get you started, some tips on how to pursue a career in finance are listed below.
Some career aspects of finance can be very competitive, so it is a must to have at least a bachelor's when entering the field. However, before you enroll in a degree program, you must do some soul searching to determine which financial track best interests you. This will ensure you choose the best program for your needs. You can major in accounting, finance, economics, or statistics, just to name a few. Some degree programs will require that you perform an internship. If your college or university does not, then try to get a internship or summer position on your own. There are many part-time entry-level positions like bank tellers, call center representative, and accounting clerk. While a graduate degree is not a necessity to enter the field, it will typically be necessary as your progress in your career. If you are already a working professional, check with your human resources department. Generally, companies will help pay for your advanced education. Finance is a field that can correspond to all personalities and types of people because it is a combination of science, business, and creativity. Even with the current economic condition, there are currently many jobs open in the industry.
When we were young, we already had an idea of what we want to be when we go grow up. Sometimes, these changes as the years go by. While there are advantages in whatever profession we choose, we should also look at the disadvantages if this for instance will be a career in financing. What is wrong with financing? If you think about it, nothing given that it is an honest job with a considerable rewards. But not everyone will be able to stay here for the long term which is why you have to weigh the pros and cons. First, can you see yourself doing mathematical computations and giving advice to someone who is probably earning more than you? The truth is, some people can while others can't. The best test of all will be how well you excel in subjects like calculus and economics in school. You have to be able to understand these concepts and then use these tools to your advantage. Then again, there are people who may be good in one subject or both while there are those who will probably excel in other subjects. Learning concepts is one thing but doing this job every single day is another. A good idea will be to talk to professionals who are already in the financial industry and see how it is working there. Make up a list of questions and ask for clarifications if there is something that you do not understand. It will also be a good idea to read up on the finance industry so you know what you are getting yourself into 4 years from now once you graduate from college. If you still choose to have a career in financing, here are some of the disadvantages you will hear or experience. You shouldn't be discouraged about them but keep them in mind as you are starting your career in finance.
Professionals who have obtained their CPA's and start work as accountants do not earn that much compared to those who are involved in investment banking and consulting. Also, they handle multiple projects at certain times especially during the end of the financial year or when it is time to file income tax that means overtime just to get the job done. There is also the pressure given that you are in a fast paced game and you are dealing with other people's money. If you screw up, this could mean financial ruin for them and you will be hired on the spot. But those who succeed can get a promotion, earn much more than they did before and even get to work abroad. If you think about it, there are advantages and disadvantages in just about any job or career that you decide to pursue. How you are able to deal with it is the challenge that you will have to face on your own. Those who can stand the pressure will probably stay for the long term while those who don't will quit and shift into another career. Doing some research and getting your feet wet will probably give you an idea of how things are like working in the finance industry. This is what on the job training or internships are for so you know what its like in the real world. With this information, you can then see if the advantages outweigh the disadvantages for you to purse a career in financing.
Finance is a very broad subject. Speaking in terms of employment doesn't narrow the term much. There are a wide variety of careers and job positions available in the Finance field. Education requirements and salary expectations depend on the area of interest, as well as the geographical position. Several careers opportunities are available in Finance. Banking is probably the more common position that comes to mind. Commercial Banking, Corporate Finance, Financial Planning, Insurance, Investment Banking, Money Management, and Careers in Real Estate are all related to the field of Finance. Studies done recently have shown that the need for people in the Finance field is growing. Incidentally, as long as there is money involved, there is a need for finance. Some characteristics of Finance professionals include; Strategic thinking, and the ability to comprehend complicated matters fairly quickly, a new, fresh perspective, and candor. If you are interested in a career in finance, you should also possess some leadership qualities, have a firm understanding of risk management, and have strong analytical and problem solving skills. Keeping in mind that Finance is a global industry, a second or even third language would be a very helpful skill in this field. Education requirements vary, depending on the career path that you have chosen. An Associates Degree would be beneficial for a few minor career choices, but most companies require at least a Bachelor's Degree for jobs such as accounting, investment banking, commercial banking, and so forth. You can opt to pursue your Master's Degree, and expect to earn a much higher annual income. Income ranges with a Bachelor's Degree start around $25,000 per year and top out at over $40,000. Starting salaries with a Master's range from $30,000 to $80,000 annually. Incidentally, if you choose a Bachelor's degree, your starting title would probably be "Junior Financial Analyst", as with a Master's it would be "Financial Analyst". So, besides the annual income being higher, with a Master's Degree, you can expect to have more
responsibility and a much higher "clout" with companies than if you simply pursue a Bachelor's Degree. Whatever degree you decide to obtain, there will be specific courses of study that you must take. Actual course titles will, of course, vary by institution, but an example of your required courses would be: Developing Business Perspective, Management and Leadership, Fundamentals of Business, Marketing and Sales, Human Resource Management, Organization and Communication, Finance and Accounting, Financial Markets and Institutions, Investment and Portfolio Management, Business Ethics, Public and Nonprofit Finance, and Risk Management. Keep in mind that these courses are not the only ones that you will be required to take, depending on your choice of degree, and the institution that you attend. The Government Finance Officers Association has information, news, and helpful links to help you whether you are in the Finance industry, or just thinking of entering finance. You can find lists of companies that are hiring, as well as their salary requirements and educational requirements. There are also links to local training events, as well as general news that affects the finance industry in the United States and Canada. A look at some current job openings in the finance field, shows that the need for financial advisors is very much in demand. In California, an Assistant Chief Fiscal Officer, for a county government office, with only 1 year of experience, has a salary range of $81,765 to $99,424 annually. There are many opportunities in the government, if you have a finance degree, and you can expect the salary to be very competitive. Other, non-government companies, such as AIG, American Express, and local banks are a good place to get your start in the finance world. Also, private firms such as Deloitte & Touche Corporate Finance Canada, Inc., Chapman and Cutler, and William Blair & Company, all which serve the US and Canada, and other private firms hire periodically for new positions, and offer competitive salaries. If you are inclined to seek your career in the finance industry, research companies well to find the best one for you. Educationally speaking, most colleges and institutions offer a wide range of courses, depending on the focal point of your finance choice. You would need to delve into the path of finance that you are planning to pursue, and with a little research and a good head for business, you could well be on your way to a very lucrative career in the ever-growing Finance World.
After you graduate, the next step is to look for a stable job so that you can have a bright future. However, this is not an easy thing to do since there are several people, like you, are also searching for a job. If you are competent enough, you will surely find one that will best suit your degree and your chosen profession. A career in finance is one of the most sought after job all over the world, especially those who have a degree related to this kind of field. There are several various firms that you can work for after your graduation. This is the main reason why you need to do a thorough research to discover some of the careers of the industry that catch your attention. To give you a suggestion, some of the careers that you can have are sales and trading, private
equity, investment banking, financial planning, corporate finance, commercial lending and commercial banking. If you do some thorough research in each category, it will be easy for you to extend your abilities that are needed to stand out in this field in the future. A career in finance can take place if you have a degree in statistics, economics and math. However, since the market is extremely aggressive, you have to make yourself excel by gaining an MBA course afterward. You do not have to obtain one after several years of work because there are some people who are still studying even if they are old. Aside from this, it is good to read some journals and join some seminars or become a member of a specialized association. You also need to be well informed of the newest developments and upsurge your set of connections because someone you know may find you a particular job you are looking for. On the other hand, for those who do not have any idea at all on what career in finance to practice, you can ask your professor or other people that have knowledge in this matter. Definitely, they can tell you what sort of job is very much associated to your degree. If you know exactly what you are looking for, then this is the time to search for companies that will give you an appropriate work. If the company that you search does not have any positions available, you can leave your resume so that if there is an opening, they can contact you.
A career in finance can be extremely rewarding. Not only does it pay a generous salary, but it allows you to work in the core of powerful companies in the market places. You actions cause change, and move entire markets, and as a financial professional you weld a lot of power over the economy and society itself. What are the best careers in finance? In other words, what careers should you be pursuing? #7 Money Management Salary range: $50,000 to $100,000 / yr If you like crunching numbers then money management might be a good finance career to consider. Money managers usually work for investment firms and like the title hints, they manage institutional money, investing it in stocks and bonds. Cons Some of the downsides to money management are that it is a very competitive industry. You will need to work hard to stand out and advance in your career. Since you will need to work your way in, often times you have to accept lower paying positions to gain experience. Pros You can work for many large firms like State Street Global and Barclays who manage billions of dollars. Also, you get to work with stocks and the stock market, which attracts a lot of those who love the excitement Wall Street has to offer. #6 Corporate Finance Salary range: $45,000 to $75,000 / yr
Working in Corporate Finance basically requires you to manage the businesses cash flow. You will help find money to keep operations going, manage money the corporation has on hand, and help make decisions on how to manage the business finances. Cons The environment of corporate finances is quick changing, and if you are unable to adapt quickly this might not be the job for you. You are responsible for the corporations success and a lot of people are relying on you to do your job well. This added pressure can be stressful. Another downside is you don't make as much money as you would working for a bank. Pros You job will be relatively stable. You don't have any sales quotas to reach, or a customer survey score you have to keep at a certain point. Your success in this career depends on your long term performance. #5 Financial Planning Salary range: $60,000 - $250,000 /yr A career in financial planning will have you helping people plan out their financial future. You are basically a sales person for different financial products. You offer people insurance, college savings products, investment plans, and other financial goods that allow them to reach their financial goals. Cons Success in a career in financial planning can really depend on who you know. In order to get clients you must first have access to people with money and you must gain their trust in order for them to want to work with you. There have been many scams involving financial planners and people are more skeptical now than ever. Before people are going to be willing to trust you with their life savings, you are going to have to make a name for yourself through other avenues. You are also going to need some good selling skills. Most of your job will be selling different products, so if you are no good at selling, or don't enjoy selling, this career might not be the best fit. Pros If you enjoy sales then this job will offer you a great array of products that help people reach their financial goals. It can be rewarding when you help clients afford the home of their dreams or send their children to college. Also, you have great potential for advancement, and talented financial advisers make a lot of money. #4 Insurance Salary Range: $55,000 - $88,000 / yr Working in insurance is all about helping people manage risks in their lives. You will help people decided the right types of polices and how much coverage they need. Also, people working in
insurance do a lot of analytical work determining the value of things and the likely hood of certain events and disasters occurring. Cons Insurance is a great field with little cons, but some people think negatively against insurance and companies that sell it. If someone has had a bad experience in the past they make take it out on you and look down on you. Pros Insurance has great potential for advancement. The industry is growing more and more and there are plenty of opportunities for entry level workers to make a name for themselves in insurance. You get to help people in times of need by offering them support. #3 Real Estate Salary range: $55,000 - $300,000 /yr A career in real estate means you will be brokering properties like land and buildings. It will provide you with many opportunities and freedom unlike any other financial career. You can make great money and work in a variety of fields from mortgages to being an agent. Cons Having freedom isn't always a good thing. Most jobs in real estate will require you to work as a contractor. This means you will have to run your own business on your own. This requires learning how to be a good business person, and perhaps hiring some help to keep things running smoothly (which means a pay cut for you). Pros In real estate your income is only limited by the amount of work you put into it and the knowledge you have about what you are doing. The added freedom allows you to set your own vacations and work as many hours as you want (or as few as you can afford). Most of the time you will get to work in different locations each and every day which keeps work from getting boring and dull. Plus, you dealing with large transactions, which means big rewards for each successful adventure. #2 Investment Banking Salary range: $100,000 to $230,000 /yr Working in the investment banking industry you will help companies and government issue securities. You will also help people purchase securities and provide financial products. Mergers and acquisitions are handled by investment banks. It is an exciting face paced career with high stress levels and lots of challenges. Cons Investment banking takes a lot of expertise, and because of that workers must slowing climb their way up the corporate ladder. Also, when financial crises hits, which the enviably do, this industry is one of the hardest hit. One day you might have the most successful day of your career to be blind sided the next day with a huge downswing. You need to be able to take the pressure. Pros
The biggest attractor is the large salaries. Next to that is the excitement the career involves. Every day you will be faced with new challenges and different demands making your work exciting and ever changing. You also get to help people and institutions manage the money to get the most out of it. #1 Hedge Funds Salary range $100,00 to $250 million /yr A hedge fund job is the holy grail of any financial professional. Not only is the money the best in the industry, the respect and notoriety is also very nice. The road to working in hedge funds in long and hard. You must be smart and trustworthy, as well as passionate about your work. You will basically be running the hedge fund trying to maximize return. Cons The job is stressful and highly competitive. Your career is based on the results you can provide. In order to pursue a career in this field you must go through a long career ladder that takes many years to navigate. Pros Hard working professionals in the hedge fund industry can make upwards of $2 million a year before they reach 35. Plus, since hedge fund managers work with such large sums of money, everyone is suddenly your friend and you get to enjoy a financial world celebrity. In Conclusion There are many different career options in finance, and these are just a few. These might not be a perfect match for you, but in the financial industry these are the jobs that most people want and seek. They pay well, and many offer opportunities to improve your community and people's lives. What financial career is calling out to you?
With the job market becoming increasingly competitive due to more people searching and less job openings, it is important to know how to stand out. When looking for a career in finance, there are several ways to not only improve your own skills while you look, but also to find that future job. Here are several tips on how you can score one of many careers in the financial industry.
Base your searches on specific companies and not on the actual job. Instead of thinking what job you want, think about which companies you want to be a part of. Sign up for newsletters and emails from those top companies and when they have an availability, they will contact you. Look through those openings and decide if you would be a good fit for that particular career option. Networking is the job search of the future. It sounds like a simple idea but it really is key. Look at professional websites you can join, like LinkedIn.com or Monster.com, that can help you meet employers. Also, talk to your parents, friends, family, neighbors, or whoever has a job in the financial industry that may know someone who can hire you. Even if they don't know anyone
hiring, they can still give you advice and help you make connections that can benefit you down the road. On your resumé, focus on education and related work experience. If the career in finance you are working towards is an entry-level job, discuss what classes you have taken and what skills you learned from those courses. If you only have a small amount of related experience, put it on your resumé no matter how insignificant you feel it is. For non-related work experience, include it on your resumé, but leave out your duties. While you're looking for jobs, take any job you can possibly get; whether or not it's what you really want. Remember that money is money, and even if it's not exactly the position you want, you can use it to your advantage. Not only will you have an income in the meantime, you can use this seemingly unrelated experience on your resumé while you continue to look for a finance career. Writing "handling monetary transactions", even if that means working the cash register at Taco Bell, can still be considered an asset by future employers.
Whether you are a current student earning your finance degree, a recent graduate, or someone looking for a change in careers, there are many jobs in finance available With these tips, and the prospect of an increasing number or financial career opportunities, your career outlook should be bright and promising.
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