You might be thinking about what to do for your career, or even considering a career change. One of the areas you may be thinking about moving into is finance. Would this be the correct move for you, though?
It may be that you’ve already got an impression about what kind of person you need to be to work within this industry. Or you think you know what the job will entail, and you don’t think it’s where you see yourself in a few years’ time – but hang on, because it may be you don’t have all the facts. Here are just some of the reasons why you should be thinking about a career in finance: some of which you might not have thought about.
You Get to Work in A Dynamic Environment
The fast pace of a career in the financial services industry is unparalleled compared to many other industries in which you could work. The constant innovation means you never stop learning, either.
Because of the dynamic character of the industry, there are plenty of opportunities you can take advantage of with which you can advance your career. That means this could be a great choice for you if you are a creative and aspiring graduate.
The financial industry puts a premium on quick thinking, analytical thought and consistent results – meaning high performers can advance and do so quickly. In other industries, though, you may find considerable weight is placed on seniority when it comes to employee advancement.
Your Work Is Meaningful
This might seem unusual to some but, to many people who work within financial services, knowing they are doing meaningful work day-to-day is a motivating factor for them. That’s because the industry plays an important role in maintaining the workings of the economy, and someone’s work in the sector demonstrates that every day.
That can range from financial management or helping someone plan for their retirement or even their children’s education. You could be helping a customer secure a mortgage on their dream family home or invest their money. So financial services professional can help people of different financial backgrounds to achieve their personal goals.
There’s A Good Earning Potential
There’s generous compensation within the finance industry. There’s usually a high salary potential for those who look to have a career within this area. This will vary on location, your experience and the role itself, but they’re still enticing.
The average yearly salaries for financial managers and financial analysts are great – and, if you get the right certifications and experience, these numbers can be just a starting point for you. One of the types of credentials you might want to consider is to get a master of science degree in finance from Suffolk University. Not only will you get to unlock leadership opportunities, but you’ll get to develop skills in demand within the industry.
Finance Is A Stable Sector
There will always be a need for financial services. There are predictions of good percentage growth in the demand of financial analyst careers and financial advising roles, for instance – and the number of other financial career opportunities will also increase as the economy strengthens.
There Are Plenty of Employment Opportunities
If you’re looking to work within finance, it’s important to consider which sector you may wish to aim for plus the role to suit your personality. In banking, for instance, the roles will vary within each division.
For retail banking, you will need to interact with customers – so if you enjoy dealing with people from all walks of life, this could be a good option for you. Customer service and product offering are important, and the best retail bankers are those who take time to understand the needs of the customer and then recommend the best products or services to them. That means you’d need to combine the needs of the business with those of the customer.
Yet investment banking is better suited to those who enjoy working with and understand data. Analytical and numerical skills are favours for these types of roles. You’ll also need to be good at working with a team and be confident of working with your clients.
Accountancy may also offer opportunities to you, too. It involves helping organisations and individuals to manage their finances to comply with legal regulations and plan for the future. A basic interest in the business world and how it works is important, as you will have to ask the right questions and follow the correct leads. You will need different skills for different types of accountancy – for example, those required for a tax accountant will not match those for a forensic accountant.