Finance is an integral part of almost all industries. Its relevance is present in any market and organization. Whether in the public or private sectors, finance has a broad reach. You can encounter important topics such as asset management, mergers, and acquisitions. Thus, it begs the question: With its extensive scope, is finance a good career path?
If you are a fresh graduate considering a role in the finance industry, then you are on the right track. You have chosen one of the best career paths in the world today! In this article, we will talk about some of the most popular finance-related jobs, and how you can be fully prepared for your job hunt in the industry.
How Relevant is Finance Today?
Is finance a good career path? For a fresh graduate like you, understanding finance’s relevance in the market will help you answer the bugging question in your head. Knowing its scope could help you decide if this field is for you to take on.
There are three major areas in finance: personal, corporate, and public finance.
- Personal finance oversees funds through appropriations, expenditures, and savings. It touches on long-term planning that involves investing money and evaluating risks. You can work as a personal banker, tax advisor, and financial planner in this field.
- Corporate finance deals with maximizing the stocks and bonds of a company. This is through allocations, mergers, and acquisitions of resources. You can have good-paying job opportunities in this field, which include real estate manager, corporate accountant, and auditor.
- Public finance is the entity in charge of handling the government side. Public finance highlights the role of the government in the country’s economy. It also assesses the state’s revenues and spending. You can be an investment banker, researcher, and consultant in this field.
Is Finance a Good Career Path: In-Demand Finance Jobs
Finance demands a particular skill set from practicing professionals. They are crucial functions and redeeming features in any organization. Here is a list of the industry’s top entry-level jobs. It can help you evaluate which best suits your skills and experience.
Financial Analyst
Financial analysts take care of the client’s funds and evaluate investment risks. This high-demand role entails analyzing data and statements. In this field, you can earn from $70,000 to $80,000 a year.
Financial Advisor
Financial advisors give clients expert advice on managing money wisely and effectively. Their job involves direct client contact. They also do market research and ensure clients know the product that suits their needs. You can earn up to $89,000 a year doing this role.
Budget Analyst
Business analysts assess the financial bearing of the client’s latest and existing investments. In order to succeed in this field, you must have a bachelor’s degree coupled with excellent communication and analytical skills. You can earn up to $77,000 a year in this position.
Investor Relations Associate
Investor relations professionals accomplish documents and analyze data for the clients. To pursue this career, you must have solid communication and organization skills. An investor relations associate can earn$60,000 to $150,000 a year.
Actuary
Actuaries assess clients’ investments and analyze financial data. They help strengthen policies and reduce risk costs with the use of statistics and math. You must be certified by the Casualty Actuarial Society or the Society of Actuaries to be an actuary. Earn up to $103,000 per year by being an actuary.
Credit Analyst
Credit analysts evaluate client’s credibility in handling credits to reduce loan risks. They do this by studying the borrower’s records. At the same time, they appraise assets to know if they have financial viability. Credit analysts earn an annual salary of up to $74,000.
Accountant
Accountants record clients’ transactions and verify financial documents. They also file taxes and analyze data, among others. It would be best if you had a degree in accounting or related fields to be an accountant. You can also take a board exam to become a Certified Public Accountant (CPA) if you wish to work in prominent accounting firms. Accountants earn up to $71,000 a year.
You can browse our finance resume examples here for more resume writing tips in this industry.
5 Ways to be Fully Prepared for a Career in Finance
Obtaining a bachelor’s degree after years of being in school feels like a heavy burden has been lifted off your chest. However, the truth is that it was just another achievement you had to unlock. This is because the next exciting milestone for your career is about to begin.
As someone who aspires to have a career in an industry like finance, it’s okay to feel anxious. You may have reservations at times as well. Is finance a good career path for you? What opportunities can it offer to fresh graduates?
Here’s some good news for you: While finance may sound intimidating, it’s not an impossible industry to get into. It welcomes applicants who are straight out of college or people entering the workforce—just like you. To completely prepare you for what’s ahead, here are some tips you might want to consider taking. It may help you land a good entry-level job in the finance industry.
1. Take the right degree and a strong internship experience.
While the finance industry is a meticulous yet popular career path, it requires professionals and job aspirants to have a bachelor’s degree at the very least. Therefore, competition is always present. A degree in line with the career path you want to take is highly preferred to stand out. Remember, you will have tight competitors in the job market.
In addition, having a good internship experience related to finance is a plus. It will convince future employers that you are knowledgeable and capable of handling what your dream job entails. You will also have early immersion in the demanding world of finance. You can opt to expand your career after taking the bachelor’s degree. It will help you advance in the field and widen your experience.
2. Take a refresher course.
It takes years to get a degree. Let’s face it—you may have a great deal of learning that may have been unlearned over the years. Hence, to keep up with the times, it’s important to continuously learn and re-learn things when needed. Taking refresher courses or even simply reading and researching online will not only help you recall your past learning; it might also save you during job interviews. We can never be too prepared for interview questions, after all.
Here are other significant advantages of taking refresher courses:
- You will identify knowledge gaps.
- You will be guided on valuable yet occasionally used information.
- It keeps you up with lectures tailored to the latest industry trends.
- It strengthens your long-term memory.
3. Get certifications and licensure exams.
Employers often prefer candidates with valuable credentials and certifications. It goes alongside the skills and educational background, working as a credible proof that you are fit for the role. Earning licenses and certifications can give you an advantage from your competitors.
Here are some of the finance-related certifications and programs that may give you an edge in applying for a job:
- Certified Financial Analyst (CFA)
- Financial Risk Manager Certification
- Certified Financial Planner (CFP)
- Chartered Alternative Investment Analyst (CAIA) designation
- Chartered Institute of Management Accountants (CIMA) qualification
- Certified Public Accountant (CPA)
- Chartered Marketing Technician (CMT) program
- Certified Management Accountant (CMA)
4. Your finance resume should be flawless and appealing.
Creating the ultimate job-winning resume is crucial when applying for a job. These days, however, the job market is saturated, with the competition becoming challenging by the days. Meanwhile, resumes are no longer just a piece of paper you hand to the recruiters. It’s the ultimate key for you to unlocking the next important achievement that is landing in an interview.
Resumes can make or break an applicant’s chances of getting interviewed. Employers will take one look at an applicant’s resume and decide whether or not it passes for the next round. Needless to say, for first timers or fresh graduates, this is a challenging stage.
Never sell yourself short. Highlight all the skills and background relevant to the position. Impress your potential employer with a demanding job description. It does not matter if you are applying for an entry-level position. However, be aware of oversharing. It can overwhelm your potential employer. On your side, you will be left with fewer details to share in the interview stage. You don’t want to run out of answers when you will be asked something about yourself that’s not in your resume.
5. Prepare for the interview.
Faintly, preparing for a job interview is a combination of all the tips mentioned above. The employers’ primary concern is your level of education and experience. They have to know whether you have enough educational background and exposure for the job. Are you fit to the role you are trying to get into? Be prepared to talk about what your internship was like, especially if it’s the only job-related experience you have leading to the interview. Don’t forget to highlight the refresher courses, training, and certifications you have taken .
More importantly, you should have a perfectly crafted resume to help you get considered for a job interview. It will be your cheat sheet and reference when you’re being asked to talk about yourself. This is where resume writing experts can give you the advantage you need.
Read More Expert Advice from Our Career Coaches
With all the valuable information highlighted in this article, are you still wondering, is finance a good career path? The short answer: Yes! There are still a lot of exciting and interesting things about having a career in finance that you don’t want to miss out on. For more career advice, browse our articles from Resume Professional Writers’ career experts today.
