The financial industry has long been one of the most sought-after sectors for employment. This is because it is a vast and growing industry, offering many different opportunities for those with the skills and knowledge to succeed in it. With the current level of job openings, now might be the perfect time to explore what opportunities are available in finance and determine if it’s the right path for you.
This guide will provide an overview of how many jobs are available in finance, what those jobs entail, and the qualifications necessary to pursue them. We will also outline potential salary ranges and career paths, as well as insight into what employers look for when hiring finance professionals.
What Jobs Are Available in Finance?
Finance is a diverse field that offers a wide range of job opportunities. According to the Bureau of Labor Statistics, in February and March 2022, there were roughly 500,000 jobs available in the financial industry. These range from entry-level positions such as budgeting analysts and accountants to more advanced roles such as investment bankers and financial advisors.
At an entry level, you may find yourself budgeting for a company or government organization, or tracking down invoices for clients. Those with a degree in finance may opt for higher-level roles such as loan officer or risk manager. Investment banking jobs offer the opportunity to advise companies on investments and mergers, while financial advisors provide advice on managing wealth and investments.
In general, those interested in the finance field can expect to find job openings that involve managing money, investments, taxes, and other financial concerns. With changing economic conditions come new opportunities in finance that could potentially lead to lucrative long-term careers.
Why Are Finance Jobs Growing Faster Than Other Fields?
It’s not just the financial industry that offers job opportunities, jobs in finance are growing faster than many other industries, too. According to the Bureau of Labor Statistics, finance jobs saw a 10.8% growth from February and March 2022, compared to an overall growth rate of 8.4%. That means financial positions are opening up quicker than many other traditional jobs. What’s driving this growth?
Part of it is the rise of financial technology:
Fintech positions are now essential to banks and other financial institutions, particularly as they move toward digital banking. Plus, more people are turning to the stock market and online trading, which has increased demand for financial advisors and brokers who can help manage their investments.
These jobs also tend to offer competitive salaries, too:
Many positions pay far higher average salaries than those found in other industries. That makes them financially attractive to many job seekers, and it may be one reason why finance jobs keep increasing at a faster rate than others.
Types of Finance Degrees:
Are you considering a career in finance? Whether you’re looking to enter the industry or move up the ladder, several finance degrees can give you a leg up. Here are four of the most common types of finance degrees and how they can help you pursue your desired career goals.
A bachelor’s degree in finance covers topics such as accounting, financial planning, and investments. It also provides students with a solid foundation in economics, business management, and other aspects of the financial world. With this degree, graduates can pursue entry-level jobs in banks, investment firms, accounting firms, and corporate finance departments.
A master’s degree in finance can help students build on their foundational knowledge of economics and business by focusing more on topics like corporate governance and financial analysis. A master’s degree may also qualify graduates for higher-level jobs such as wealth managers or financial advisors.
Those who wish to pursue advanced research or teach at universities typically need to obtain a doctoral degree in finance. These programs often cover research methods as well as specific areas within the field such as international finance or venture capital. With this level of education, graduates may qualify for senior positions within corporations or academia.
Although certificates are not required for most jobs related to finance, employers may prefer applicants who have additional knowledge and skills obtained through a certificate program related to the position they are applying for. Some popular certificate options include accounting certificates, investment banking certificates, and wealth management certificates.
Finding Your Perfect Finance Job:
Today, those interested in finance have a wide range of options for their career. From investing and trading to banking and consulting, the number of jobs available in finance is growing. The first step to finding your perfect job is researching the industry. Data from the Bureau of Labor Statistics shows that there are over 500,000 jobs available in finance. With so many options, it’s important to carefully assess what type of job will fit your lifestyle and skillset best. Here are some of the top finance jobs to consider:
Financial Analysts: Analysts review investments and stocks, as well as create forecasts for potential trends. Financial analysts typically have a bachelor’s degree in accounting or finance, plus experience working in the financial services industry.
Investment Bankers: Bankers research investments, evaluate risk factors and assist with raising capital for companies. Most investment bankers need at least a bachelor’s degree in a related field such as finance, accounting, or economics along with several years of experience working in corporate finance or financial services.
Financial Advisors: Advisors typically provide advice on taxes, investments, and retirement planning to individuals or organizations. Most advisors have at least a bachelor’s degree in economics or business administration, plus considerable experience working with clients regularly.
Regardless of what type of finance career you choose, it’s important to do your research and find the perfect fit for your skill set and interests. With the right education and experience under your belt, you can be sure to find an exciting career opportunity in finance that matches all your goals and expectations.
Advantages of Having a Finance Job:
Finance jobs offer the opportunity to work in a variety of settings with an array of potential career paths, making finance an attractive option for those seeking an exciting and rewarding career. With a job in finance, you can have unprecedented control over your future and enjoy a wide range of benefits. Here are some of the advantages of having a finance job.
Finance offers professionals the chance to work in several different settings, such as corporate banking, asset management, or venture capital. You can choose a field that you are passionate about and make it your own.
The finance industry is one of the most secure fields available today. Even during economic downturns, the financial industry remains relatively stable and continues to offer numerous employment options. This stability provides job seekers with peace of mind when exploring different career paths.
The average salary for those employed in the financial industry is often higher than salaries offered by other professions due to the complexity that comes with the analytical skillsets required in this field. With a finance job, you can expect to be well compensated for your efforts.