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Is Finance a Good Career Path, Types & Salaries

The finance sector is known for offering high-paying jobs, but is finance a good career path?

A career in finance can be very rewarding. If you’re good with numbers and have a passion for financial planning, the financial industry might be for you. However, before committing to a career in finance, there are a few things you should know about that career. This article discusses finance a good carrier path.

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Is Finance a Good Career Path?

Finance covers many areas including the process of raising funds as well as managing money.

In general, it is categorized as follows:

  • Public Finance
  • Corporate Finance
  • Personal Finance

Each of these categories requires different skills and mindsets. However, the principles remain the same, and each role requires familiarity with certain aspects of accounting.

To manage your funds, you must raise them directly, through banks, or through corporate funds, depending on your funding. Therefore, a career in finance requires not only an understanding of accounting principles but also a clear understanding of the best tactics for raising and investing capital.

This financial guide is designed to give you a quick overview of:

  • A possible career in finance,
  • Why You Should Choose a Career in Finance
  • Career Paths in Finance and Finance
  • The best way to position yourself is to get a great job.

The guide also provides background information about educational programs, scholarships, and professional qualifications.

Why Finance a Good Career path?

Careers in finance offer high salaries and quick career placement after graduation. The U.S. Bureau of Labor Statistics, for example, predicts that financial analyst jobs will grow by more than 12% by 2024.

For personal financial advisors, growth has been nearly 30% over the same period, so there is no shortage of opportunities for those interested in a career in finance, especially in the United States. Finance jobs are growing at equal or faster rates in parts of Europe and Asia, outpacing most industries.

Job opportunities are especially good for those with a solid background and professional qualifications. Position in Finance is seen as an important organizational function and are profit center within companies as well as Wall Street investment firms.

What are the Benefits of Finance as Career?

First and foremost, a career in finance can be very successful. In the United States, the average salary for a financial manager is $131,710, according to the Bureau of Labor Statistics. This is an average salary. It’s important to note that base salaries can be misleading. Financial careers offer bonuses ranging from hundreds of thousands to millions.

A career in finance also offers a high level of job security. It is important to note that the larger institutions eliminate the bottom third of firms (give or take) year after year. Many of these positions are highly volatile and uncertain.

Finance is an essential industry and qualified financial professionals are always in demand. Even in times of recession, businesses need financial managers to help them navigate tough times.

Finally, finance jobs can offer many career opportunities. Financial If you can start your career as an analyst and do the job well, there’s no reason why you can’t eventually become a company’s vice president or chief financial officer (CFO). Also, if you are self-employed and own a business, there is no limit to how much you can earn.

What are the Drawbacks of Finance as Career?

Of course, no career is perfect. There are downsides to working in finance. First, working in finance is a very stressful job. If you work as a financial analyst or manager, you are responsible for making important decisions that can have a significant impact on your company’s bottom line. This kind of pressure can be difficult to deal with on a day-to-day basis.

Another drawback is that it takes a very long time to raise funds. Spending long hours calculating numbers and preparing reports can leave you with little time for your personal life. Maintaining a healthy work-life balance is very important if you decide to pursue such a career path.

It is worth noting that the world of finance is constantly changing. We need to stay abreast of the latest changes in tax laws and regulations so we can advise our clients accordingly. We also need to prepare for sudden recessions. They occur occasionally and can have serious consequences for businesses and individuals.

Required Skills for Finance as Career

If you are considering a career in finance, be aware that you will need a variety of skills and talents to succeed. Key abilities include strong math skills, attention to detail, and money management. You should also have good problem-solving and communication skills. Here are the 8 most important skills for a successful career in finance.

Excel in Mathematics

Achieving success in the financial industry requires strong math skills. You should be able to understand and manipulate complex financial data such as statistics, financial reports, and budgets. This means that you are familiar with mathematical concepts such as probability, calculus, and algebra. If you’re not confident in your math skills, consider taking a refresher course before embarking on a career in finance.

Analytical Thinking

Analytical thinking is another important skill for finance professionals. To make informed decisions, you need to be able to analyze data, spot trends, and always be ready to think critically and solve problems. Non-analytics by nature can improve their skills by taking classes, working with mentors, and practicing in their free time.

Attention to Details

Attention to detail is essential in finance because a small mistake can have a big financial impact. For example, accidentally entering the wrong number into a spreadsheet can result in incorrect financial reporting.

This may lead private financial investors and creditors to misunderstand the company’s financial position and possibly suffer losses. Being accurate and precise when working with numbers is non-negotiable in this career path.

Business Acumen

Good business acumen means understanding the inner workings of a company and how financial decisions affect the success or failure of the company. A person with good business acumen can make intelligent financial decisions that help a company grow and prosper in the long term.

Here are some ways to develop business acumen:

  • Take a business course.
  • Work with mentors in the financial industry
  • Gain experience through internships and work in the financial industry.

Financial Awareness

Working in finance is a lucrative career path, but you need to be aware of the financial markets and how they work. Staying well-informed about current events and trends in the financial industry is also important to keep abreast of.

Finance is a complex field and a high-risk one for those who work in it. If you don’t understand the basics, it’s easy to make big mistakes that affect your career.

Financial Modelling

Financial modelling is the process of creating a mathematical model of your financial situation. This can be anything from the projected performance of a company over a period to the expected results of a planned investment. Financial models are used by investors, bankers, and other financial professionals to help them make informed decisions about where to put their money.

Knowing how to create these models is important if you want to work in finance. Software programs can simplify the process but require a good understanding of basic accounting and finance concepts. This allows you to create accurate models that help you and your colleagues make important decisions.

Profit and Loss Analysis

The importance of knowing how to do profit and loss analysis in the financial world cannot be overemphasized. A profit and loss statement (P&L) shows whether a company is making a profit or losing money and how much it is making or losing money.

This information is important for making an informed decision about whether to invest in a company. Analysing the income statement can also help identify areas where a company could save if it were forced to make cuts.


Finance is a constantly evolving field, so effective communication is necessary to keep up with the changes and stay ahead of the competition. Good communication skills help you understand complex concepts, explain financial analysis to clients, and negotiate deals. It is also essential for networking and building relationships with colleagues and clients.

List of Possible Finance Career

Most people have heard of investment banking because it is highly competitive and salaries are high, but do you know that there is a wide range of financial careers that not only support banks but also offer equally good salary packages? Not everyone knows.

Some career paths in finance require skills like those of an accountant, and while bookkeeping is certainly part of the job, the emphasis is on managing and investing rather than auditing the use of funds.

Common investment banking careers in finance include:

  • Financial adviser
  • Investment banker
  • Financial analyst
  • Risk manager
  • Portfolio manager
  • Financial adviser
  • Credit analyst and many others

Everyone has their own career path in the financial industry. However, it generally takes two years or more to reach a more senior position, so significant career advancement requires a long-term commitment.

Financial Analyst

All financial analysts analyze financial information. However, this position varies greatly by organization and industry.

Corporate financial analysts:

  • Analyze the financials of your company and its investments.
  • Look for financial problems.
  • Run the new project figures.
  • Conduct ad-hoc reporting and analysis.

Investment firm financial analysts:

You will be tasked with verifying the financial status of external companies that you wish to invest in, buy or sell. This requires a broad knowledge base of different types of businesses within the industry and an understanding of how and why investments are made.

Average salary worldwide:

  • Hong Kong: $65,320 ($509,065 HKD)
  • Singapore: $67,107 ($92,908 Singapore Dollar)
  • Sydney: $103,069 ($136,878 Australian Dollars)
  • New Delhi: $10,600 (682,544 Indian Rupees)
  • Frankfurt: $72,917 (€65,130)
  • London: $78,939 (£61,913)

Reference: Institute of Economic Research, June 2017

Financial Advisor or Financial Consultant

A financial advisor generally cooperates with a company or person regarding their financial situation. Most consultants and advisors focus on specific products to differentiate themselves. Potential advice may relate to topics such as tax, investment, and insurance decisions.

A personal financial advisor or consultant works closely with a client to provide individualized financial advice and may direct the purchase or sale of stocks or bonds on behalf of the client. Some financial advisors work for large banks, but many work for smaller organizations.

When financial advisors work for consulting firms, they often focus on the financial needs of a particular company or industry.

Average salary worldwide:

  • Hong Kong: $53,443 ($416,508 HKD)
  • Singapore: $54,905 ($76,015 Singapore Dollar)
  • Sydney: $84,329 ($111,991 Australian Dollar)
  • New Delhi: $8672.85 (558,445 Indian Rupees)
  • Frankfurt: $59,592 (53,228 Euro)
  • London: $64,586 (50,656 British Pounds)

Reference: Institute of Economic Research, June 2017

Finance as Career

Right Bachelor’s Degree

You might think you don’t need a degree to get a job in finance, but you’d be wrong. A bachelor’s degree is now the absolute minimum requirement for nearly all finance jobs. So, choose your degree and university carefully, as some companies and banks limit their employment to certain universities.

Make sure the college or university you choose is a solid business school and has a solid reputation in the financial industry. Also, if you are considering relocating to a new location, make sure the university is a recognized big presence in the field you are looking for employment. Science and engineering degrees are popular options, especially outside the United States, but know that a bachelor’s degree should be supplemented with further financial-related education. Earning a Master of Business Administration (MBA) is the most common and direct route.

Be a Subject Matter Expert

As you can see, finance is a broad industry and a degree dedicated to this business area offers many opportunities. Graduates can find jobs in accounting, finance, education, sales, banking, financial consulting, and more.

Most businesses need someone with an analytical mind who can read and interpret financial data and communicate insights and recommendations. It will take you several years to decide while you are in education but be sure to research the types of jobs you find most interesting.

Ultimately, you should specialize in one aspect of finance because specialization is the best strategy for a long and successful career. Here you can obtain one or more professional qualifications. Certifications such as Charted Financial Analyst® (CFA), Charter Market Technician® (CMT), and Financial Risk Manager (FRM) can help you differentiate and advance your career.

Start a Career of Finance

Now that you have completed your post-secondary education, it is time to look for a job. It’s not what you know that counts, but whom you know. So, put a lot of effort into building and nurturing personal connections by attending conferences, job fairs, educational seminars, and other networking events. Gain early work experience through an internship to further differentiate yourself. It may seem too early to start but having a professional qualification can go a long way toward landing your first few jobs after college.

Learning may seem complete once school is over, but it’s only just beginning. Successful people never stop learning.

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