If you are interested in financial markets, bonds, stocks, and other investment vehicles, and you have a passion for numbers, then a finance major is worth considering. If you are a recent graduate or a student, your finance skills will help you to get hired for these careers. Read on to learn more about the top career options in finance.
Management Skills Finance Majors Have
Finance majors develop analytical skills to dissect financial statements and appraise the financial standing of municipalities, companies, and several other entities. They can assess the qualitative and quantitative dimensions of business issues and calculate the financial implications of individual and corporate actions.
Graduates holding a degree in finance also attain the ability to handle spreadsheets and with other software used to process and represent financial data. They learn to present financial information to colleagues and clients with different levels of financial sophistication.
Top Career Options in Finance
Financial Planner- One of the best career opportunities in finance is Financial planner. Finance majors learn about varieties of investment options, and this knowledge can help financial planners to advise customers about how to handle their finances. Finance majors can decipher trends in securities markets and apply this perspective to their planning hearings.
Financial planners must crunch numbers and apply the principles of accounting to devise plans meant for individual investors. They also must inspire trust in people and advertise their services. Thus, finance majors with strong interpersonal skills and persuasive abilities will be most probably to achieve success in this profession.
Investment Banking- If you want to follow the footsteps of one of the most thriving and successful investors like Mr. Warren Buffet, investment banking may be the right career choice for you. Investment banking is identified as one of the most prestigious career options you can find in the finance industry, mainly from a salary perspective. So, if you are looking for a career in finance that will help you draw a huge income, then this is the right choice for you!
An investment banker’s tasks include the financial remodeling of different business operations in a company. It is a perfect role for someone who enjoys challenges and noticing trends in numbers and data, to make calculated decisions. However, you must be prepared to stretch your working hours as the job of an investment banker may prove to be quite exhausting, mainly who are in an entry-level position.
If you want to choose a career as an investment banker, then you must focus on networking. Big investment banks appoint prospective associates from popular business institutions and hire interns who have earlier worked with them.
Economist- Economists calculate economic problems that correlate to the manufacturing and distribution of raw materials, products, and services. They give their findings to corporations, government agencies, and academic research organizations. Their job helps both public as well as private groups to estimate significant aspects of their operations like job availability in certain sectors, labor shortages, and natural supply scarcity. To become a successful economist, you must possess these top skills:
- Critical thinking
- Quantitative & Qualitative analysis
- Verbal communication
Financial Advisors- This is one of the top career options in finance. Brokerage firms, which include popular names like the Fidelity Investment and Charles Schwab, facilitate the purchasing and selling of securities for their customers and provide financial advisory and money management services. Brokerage firms also typically create and provide investments in their own mutual funds or exchange-traded funds. Portfolio managers who develop and manage such funds are appointed for the highest paying jobs at brokerage firms.
Budget Analyst- Budget analysts apply standards of finance to projects and proposals in the business, governmental, not-for-profit sectors, and educational sectors. They examine budgets and evaluate the financial impact of continuing ventures and new ventures.
Budget analysts must have refined communication skills as they interview managers to collect information for proposals. They also train the team on the budget development processes for their company. Finance majors develop the important analytical and communication skills required to become a successful budget analyst.
Accountant- Finance majors learn to develop, interpret, and critique financial statements while completing the accounting element of their studies. Therefore, they become capable of carrying out difficult accounting work in financially oriented industries.
Finance students develop various accountancy skills as they learn to evaluate business issues with precisions and attention to detail, which prepares them for the accounting world in the future. Similarly, like accountants, finance majors know how to present financial information to customers and colleagues by using graphs, charts, and other visual aids.
Credit analyst- Credit analysts evaluate the financial standing of loan prospects and assess the dangers involved with providing finance. Finance majors learn to evaluate the financial viability of entities and understand their financial data and records. The investigative mindset of a finance major would facilitate the credit analyst to scrutinize the validity of financial information furnished by customers.
Portfolio Management- Portfolio management is a wonderful combination of science and commerce. So, if you are someone who likes both these subjects, then you are lucky!
A portfolio is a complete look at the status of the investments made by a company or client, without going into depth over each personal investment. A career in portfolio management will allow you to make decisions regarding the investment policies of a company, while simultaneously allocating assets for instructions and people to match their requirements.
Management of a company’s portfolio is all about finding their opportunities, weaknesses, strengths, and threats in the international and domestic markets across various areas like debt vs equity and growth vs safety to increase profits at a negotiated risk.
Stockbroking- Just like investment banking, stockbroking is a respected and lucrative career option after studying finance. Stocks or small shares in companies sold by the corporation are a great investment option with the potential to earn a hefty amount of money.
To mitigate the risks involved, a stockbroker studies the stocks and stock market conditions carefully to advise customers on which are the stocks they should purchase to suit their requirements. The responsibility of a stockbroker includes careful analytical skills, general knowledge about how the stock market functions, and statistical capabilities.
Risk Management- Companies must lessen their risk by strategically increasing returns through boosted investment. This is where a competent skill to handle risk plays an important role. Risk management experts are perfectly skilled to provide consultations depending on the overview of market risk and the possibility of identifying a bad investment result.
They use mathematical reasoning to instruct their clients to ensure their business model is defined within the vision and mission of the company. The profession of risk management is tailor-made for you if you are interested in statistics and mathematics.
Statistician- Statistician uses theoretical or applied statistical methods to collect, test, check, and summarize data for reports. Their findings are used to enhance products, service results, and business decisions in several industries like government services, healthcare, education, and financial services. Every industry respect statistical skill as each company relies on facts that help them to make informed decisions.
Several financial positions need various abilities and present complex working conditions; therefore, it is important to choose one that matches with your long-term objectives. For example, if you have substantial interpersonal skills, you may be suitable for the role of a financial advisor, and if you love numbers, then you can be successful in the field of public accounting.
So, it is better to do research and find the best way to move forward. The time you spend on selecting the right career path can help you save your time and work in a position that will help you earn a huge salary and will interest you.