5 Things You Can Do In The Financial Field
If finance interests you and you’d like to make it a career, you’re in luck. There are many excellent financial sector job possibilities. Before you head in this direction, you should think about whether you enjoy doing things like retooling budgets. If you like analyzing financial information or managing money, it makes sense to get a finance degree. There are dozens of jobs to which you can then apply. Let’s take a look at some of the financial sector jobs that you might consider.
If finance interests you and you’d like to make it a career, you’re in luck. There are many excellent financial sector job possibilities.
Before you head in this direction, you should think about whether you enjoy doing things like retooling budgets. If you like analyzing financial information or managing money, it makes sense to get a finance degree. There are dozens of jobs to which you can then apply.
Let’s take a look at some of the financial sector jobs that you might consider.
Wall Street Trader
Wall Street is one of the world’s financial centers. After 9/11, some individuals didn’t want to work there. It’s true that financial workers who have gotten cancer are likely eligible for compensation, but because the terror attacks happened so close by, some traders avoided the place for years afterward.
However, 9/11 is almost twenty years behind us, and Wall Street flourishes again. Traders:
- Work on or around Wall Street
- Recruit investor clients
- Place orders to sell and buy stocks
To do this job, you need to have excellent financial market knowledge. You must also be a people person, as you’ll make client relationships, and you work on a commission basis. You need to know about all the hot stock tips and be able to convince your clients to go all-in when you smell a great deal for them.
Financial Manager
You can also become a financial manager if you get a finance degree. You will then:
- Work for a business, making sure they have a sound financial strategy
- Work closely with department heads and executives
You will probably make recommendations and compile reports. You’ll analyze the company’s various revenue streams and financial data. You might also specialize in a particular area, like insurance, credit, or risk.
You might get such a job with a BA, but you’ll have better luck if you get a Master’s degree, particularly if you want a major company to hire you. You can easily make six figures doing this job.
Financial Advisor
People always need money advice, and if you become a financial advisor, you can give it to them. At this job, you usually work one-on-one with clients.
You must make financial recommendations that make the most sense based on that person’s life and goals. You have to factor in things like them wanting to retire or pay for their kids’ education.
You might also provide tax guidance to some degree. You may review their insurance needs or help them identify particular financial goals.
Though some financial advisors work for themselves, the securities and investment sectors employ most of them. You’ll need a BA, at a minimum. Some states also require financial advisors to obtain a license, so keep that in mind.
It’s important to remember that there is a considerable learning curve when you are trying to become a financial advisor, especially if you want to do the job as well as possible. You’ll need to learn all there is to know about the specific investments and so on of your clients, such as the legal entity identifier meaning, how to prioritise and label investments, and so on. The more you know, the more effective a financial advisor you can be.
This can also be a fairly profitable job, though you likely won’t make as much money as you would doing something like financial management.
Lawyer
You might not necessarily put finance and the law together, but they often tie directly into each other. As a lawyer, you can work as a financial specialist. Many individuals and businesses need someone with legal and financial expertise.
You might work for a corporation, navigating and interpreting finance law to keep them out of trouble. As a securities lawyer, for instance, you can help the company with its holdings. You can advise them when to sell or buy stocks.
It’s difficult to get into this field. You’ll need a Juris Doctor degree, which takes you seven years to get. You must also pass the bar before you can legally practice in your state.
Accountant
An accountant is a financial sector job that is relatively low stress when you compare it to some of these others. However, you also probably won’t make as much money doing it. Still, you can make a perfectly respectable living.
As an accountant, you record transactions and make sure of financial statement accuracy. You might work for a corporation or individuals.
You’ll have to file tax forms, make financial recommendations, and analyze raw data. You usually need a four-year degree to break into the field.
You can also become a certified CPA. If you’re both an accountant and a CPA, you have more moneymaking opportunities and a skill set that more employers desire.
With a financial background, you can challenge yourself if you like or work a lower stress job. These are always high-demand careers, so you should find something relatively quickly if you have the proper training.
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