6 Financial Career Options for the Money Minded

 

The field of finance is constantly changing and growing, and rife with advancement opportunity. Finance professionals must handle high-stress situations and have the foresight and analytical skills required to make significant decisions regarding money for individuals, small business, and corporations. Due to the demands of the job, those in this profession can expect lucrative salaries. The financial industry contains numerous sub-industries that offer opportunities for individuals looking to hone their skills in a particular area or niche. If you’re considering a finance degree or already working towards your diploma, consider the career options available in today’s professional sector.

Financial Analyst

Financial analysts can find employment in a variety of industries. Whether you want to work as an independent personal advisor or feel the hustle and bustle of immersing yourself in a large corporation, you can find a wide array of work environments and job opportunities. There are many opportunities for advancement for financial analysts. Most set their sights on becoming a CFA, or Certified Financial Analyst. This distinction is only rewarded to those who pass a difficult exam that takes the average candidate around four years to pass. Most must invest in CFA review courses, study for six months for each portion of the test, and retake the sections they don’t pass. The pass rate for the first level of the exam is a mere 42 percent, proving this exam is a daunting endeavor. However, those who do fulfill the requirements can expect better earnings and further advancement in their career.

Budget Analyst

A budget analyst is tasked with distributing important funds throughout a company or organization. These individuals outline budget controls and advise company board members on their budgetary limits and issues. They must communicate frequently with department heads to determine the financial needs in various areas of an organization, while ensuring the company’s goals are on track.

Investment Banker

When imagining the world of finance, you may picture the glamour and intensity of high-pressure situations. These aspects are inherent to investment banking. Positions in investment banking deal with issuance of corporate securities. Investment bankers may trade securities and give out financial advice to both individuals and corporations. If you’re interested in working with stocks and bonds, this career might be the right choice.

CPA

A CPA, or Certified Public Accountant, is allowed to offer accounting services to the general public. Those with this certification earn more than your average accountant, and are considered well-versed in a variety of financial aspects. The path to becoming a CPA isn’t without its challenges. Only those with years of experience and plenty of schooling are allowed to sit for the exam, and the exam itself is notorious for its low pass rates. Many must retake the test multiple times before receiving a passing score. Most must utilize study courses and review materials.

Actuary

Actuaries are analysts that are tasked with a host of responsibilities, mainly analyzing financial information to assess potential risk .They must evaluate the likelihood of future events through records, come up with creative ways to reduce the likelihood of events that may cause difficulty for a company, and decrease the impact when unavoidable, undesirable events do occur. Most actuaries work for insurance agencies or brokerage firms.

CFO

Looking to climb to the top of the corporate ladder? Becoming a Chief Financial Officer, or CFO, is the penultimate goal for many finance-minded individuals. This executive position is rife with responsibility; all legalities and accuracy of financial statements and reports are traced to you. Individuals with this title must work to adhere their employer’s business goals, both in the short and long term. Those who become CFOs generally have a master’s degree in a finance discipline, but there are individuals with specialties in business and accounting who make their way to this illustrious position.

A finance degree is the launching point for a variety of lucrative careers that are both mentally and fiscally rewarding. If you’re in pursuit of a finance degree, consider your career options and determine the ways you can best put your skills to use.


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Stacy Barr
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Stacy Barr

Stacy Barr is the face and brain behind the frugal living and lifestyle blog Six Dollar Family. A true gypsy soul, her newest blog, Unsettled Hearts, chronicles the journey of her family to become full-time travelers. By the age of 30, Stacy had overcome an alcohol addiction, a drug addiction, divorce, survived domestic violence and had built a life for herself and her daughter after spending 10 months in a homeless shelter. Stacy is passionate about homeless advocacy and addiction education.  Her first book, also called Six Dollar Family is available on Amazon.

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