7 Great Reasons to Work in Finance
Despite the many twists and turns of the finance industry, it has continued to be a highly desirable career goal for motivated professionals. Each financial sector offers many opportunities for job satisfaction, career development, and the chance to be part of one of the liveliest and progressive sectors in the world.
There are many reasons to work in finance, from the sheer range of roles and specialisms available to the potential for high incomes to job safety and transferable skills. Whether you’d like to work as a financial analyst, or you see yourself more as a mortgage advisor, you’re sure to enjoy a varied and uplifting career filled with challenges and dynamism.
There are different ways to break into a career in finance, but a solid qualification in a finance-related subject is a great start. Having said that, some organizations will take on an applicant based on their experience or their willingness to learn and to obtain qualifications on the job.
Read on for our top seven reasons to work in this exciting industry.
Range of roles and specialisms
The financial services sector is truly diverse. It straddles a wide range of different industries. Furthermore, once inside each industry, there are yet more subsectors. Then, there are many options of specializing even within the subdivisions. Once you have completed your finance-based qualification and then gained some experience to prove your skills, you could move around within the industry or side-step into another. If you enjoy number crunching and analyzing financial statements, consider being an accountant. If you’d rather spend your time solving finance-related problems and challenges, a job as a financial analyst may be the job for you.
The financial services sector offers professionals a huge degree of flexibility and choice regarding the type of work they do and where they take their careers.
The chance to obtain qualifications
Finance positions often include compulsory study towards sector-specific qualifications. If you secure a job as a paraplanner, for example, you’ll likely be asked to study for a level 4 diploma. Alternatively, a mortgage adviser position will need you to gain CeMap qualifications. The sheer range of available roles in the financial industry means that there are many, many qualifications to be gained. Whatever role you choose, you’ll have the chance to add to your resume’s qualifications list and keep developing your skills at the same time. Companies will often support you through your finance-related master’s degrees such as accounting. Additionally, institutions such as Suffolk University offer online learning options so your study will not interfere with your work commitments. You can continually grow your knowledge and ensure that you will constantly be pushing yourself as a professional.
Many financial services professionals choose the roles that they do because they want to spend their time carrying out meaningful work that makes a difference to people’s lives. Job satisfaction can be an important factor in any lasting career. At whichever level you work at, the financial industry plays an important part in sustaining the economy. On a more personal, one-to-one level, a financial advisor may help someone obtain a mortgage to purchase their dream home or assist someone else to plan for their well-earned retirement. Helping people and organizations to achieve their financial goals is an important driving factor in many financial professionals’ working lives.
Careers in the financial sectors tend to be fast-paced. A great deal happens every day, which means that you’re always learning and progressing. Furthermore, the dynamic nature of the industry means that new positions are constantly opening up. Professionals can progress quickly up their chosen ladders if they have the ambition and the drive. High-quality financial professionals are in demand all over the world, meaning you could have opportunities to travel or even move abroad. Once you have some experience under your belt, there really are no limits on what you can achieve.
There are as many different salaries in the financial sector as there are roles. Depending on which career you choose, your salary can potentially reach six figures. If you want to be on a high income, first do your research. Find out which financial careers are of interest to you and also are the most well-paid. Then, consider upskilling. A master’s degree in a relevant field can put you on a level with someone who has several years’ more experience than you. Plus, extra qualifications can help you pass the six-figure threshold more quickly. Most importantly of all, work hard and enthusiastically. As mentioned above, high-quality professionals are in demand in the financial sectors.
In addition to salaries, many financial companies also offer generous annual bonus schemes for their employees. While not guaranteed, these tend to be on a performance-related basis and can substantially top up your income.
Many careers come with a great deal of job uncertainty. Some people go through their working lives not knowing what they would do if they lost their job, knowing that it is a real possibility. Working in finance, you’re unlikely to face this concern. Although the financial industry is always changing, it will always have jobs available. Accountants, for example, will have work for as long as people have money. Even if you change positions or move firms, you’re likely to always find employment. To feel more secure in this, though, always take the opportunity to gain new qualifications and to develop new skills. This way, should your company unexpectedly close, for example, you’ll be front of the line for a new job in a different company.
If you ever decide that you would like to have a complete change and pursue another career, you’ll have lots of alternatives open to you. A financial background will provide the perfect path along which to transition into teaching, trading, recruiting or consulting, to name just a few. Furthermore, an added bonus is that your financial training and experience will have equipped you to deal with day-to-day life far more prudently than most people. You have the inside knowledge on money-management, credit cards, and pensions. Whatever you decide to do with your next life chapter, you’ll be off to a great start.