I used to think that working in finance meant working in a bank or as a money manager. Now, I know that there are multiple areas of specialization and career paths within finance. There are career opportunities for people with a variety of interests and skills, from finance, accounting, and analysis to investment banking and fintech. Whether you are a recent grad or an experienced professional considering a change, being aware of the jobs in finance helps you make a more informed decision.
The finance industry is also interesting because there are so many various paths you can take within it. There are careers in finance where you are analyzing financial documents. Others are in helping a business manage its money. Still, others focus on investment or assessing financial risks. There is a large range of salaries, responsibilities, opportunities for growth and advancement within the industry. As I said, to be fully informed before choosing a career, one should research all aspects of the industry and the various positions involved.
I’ll explain some of the specializations within the field of finance in this article. I will list some of the entry-level and some of the higher-paying positions. I will tell you what skills and experience are required. I will explain ways that you can gain experience and build your skills. I will help you discover how to build a strong resume for the positions and find the available career opportunities.
What is a Finance Job?
Finance jobs usually deal with managing, analyzing, planning or protecting money for an individual, a business, a government or a financial institution. You might be preparing financial statements, assessing investment opportunities, examining company expenditures or assisting customers with savings and loan decisions.
This industry may include commercial banks, investment companies, insurance companies, accounting firms, technology companies, large companies that have their own finance departments, and companies in other industries like manufacturing and retail. For example, a company that makes phones will need finance professionals to manage the company’s costs and revenue, and plan the company’s investments.
Depending on your interests, you might like financial reporting. You might like working with clients in a more aadvisory/salesrole. One career path might be a closer match to your interests, strengths and/or preference for working with people.
Best Jobs in Finance
There is no one career path that characterizes the financial industry. Some work behind spreadsheets, some negotiate huge deals, some help people make complex financial decisions.
Some of the more popular ones to look at are:
Financial Analyst: Reviews a company’s performance and options in the financial marketplace.
Accountant: Keeps the books and makes reports. Assists in tax preparation.
Investment banker: Raises capital and handles the firm’s other financial transactions.
Financial Advisor: Helps people and companies with financial issues.
Credit Analyst: Examines financial condition of borrowers and other prospective customers.
Risk Manager: Evaluates a firm’s financial risk and creates policies and procedures to reduce risk.
Portfolio Manager: Manages the investment portfolios of clients based on their investment objectives, time horizon and risk tolerance.
Fintech Analyst: Finance knowledge + IT and data analysis.
When looking for finance jobs, don’t just consider salary. Look at the daily responsibilities, time requirements, client interaction, and skills needed for each position.
Best Entry-Level Finance Jobs
A few finance positions need no prior experience. Entry-level positions are often filled by new graduates, career changers and interns, with on-the-job training.
Entry-level finance job examples: finance assistant, accounts payable clerk, banking associate, payroll assistant, junior financial analyst, credit analyst trainee.
Imagine a person with a business degree, but no background in finance. They may want to start their career as an accounts assistant. In this position, they may become aware of invoicing, reconciliations, reporting and other deadlines. From there, they may wish to pursue a career in management accounting or financial analysis.
Entry-level jobs in finance do not all pay a high salary, but may offer opportunities for specialized training, mentorships and career advancement. When thinking about a job, it is also important to think about the total value of the compensation package.
Best Finance Jobs by Salary
Some finance positions have high earning potential, such as investment banking, portfolio management, and senior corporate finance positions. Other roles may include quantitative analysis, financial risk management and leadership roles.
Some of the highest salaries can come with the biggest trade-offs. Management and senior investment banking positions require a wealth of experience and a good understanding of the markets. These positions may also offer compensation in the form of bonuses, commissions or other variable pay.
Research finance jobs using local and reliable salary data for your location and experience level. A senior financial analyst in a big city would probably make more than a similar position in a small regional company.
But when you look at the overall compensation and benefits package, and also consider other things like regular versus irregular hours and job security, you might discover a better opportunity somewhere else.
What qualifications and skills are needed?
Generally, employers prefer candidates with degrees related to business, economics, finance and math, but these preferences can change depending on the position. Some roles can be competitive and require specific degrees.
Formal certifications are not always a must but can beef up your profile. The CFA is specifically geared toward the field of investment analysis and portfolio management, while the CPA is related to many careers in accounting.
There are ‘soft skills’ just as important that you need to build. These include your ability to use Excel and other financial analysis and data reporting tools, your skills in presenting and explaining information, and your ethical judgment.
You don’t have to be an expert on everything. Concentrate on the skills most relevant to your target job and develop these through coursework, projects or practical activities and incorporate these into your application.
How to Get a Job in Finance
You can increase your chances of getting a job in finance by taking a planned approach. Don’t just send hundreds of applications to any jobs in finance that are out there. You will have more success if you focus on 2-3 specific jobs that you are really interested in and have the relevant skills for.
One way to identify skills employers are looking for is to review job postings. You should also consider the skills you have developed from coursework, relevant practical experience (including projects and placements, and the software you are familiar with), and your relevant achievements. Include these skills in your resume, even if you don’t have a lot of relevant experience.
Here is a simple approach:
- Choose a target role and understand its requirements.
- Develop the essential technical and communication skills.
- Build relevant experience through internships, projects, or junior positions.
- Tailor your resume and cover letter to each application.
- Practise explaining financial concepts and solving basic analytical problems.
Networking also helps. A conversation with someone already working in your chosen field can reveal what employers value beyond the formal job description.
How to Search for Jobs in Finance
Of course, you can open a general job search website and enter a keyword, but a quality job search involves more than that. You should look in multiple places because companies use multiple platforms to recruit.
Try the larger, established job boards and the career sites of larger companies in banking, accounting, and insurance. Don’t forget to use your alma mater’s career center and look into the graduate recruitment programs there. Newer graduates should take advantage of these programs and offerings while they still can.
Don’t forget to network! College is a great time to network. Build and maintain connections with your classmates. Search for and attend industry events and build your professional profile. Make sure it’s set to public, and mention your career interests to your connections.
“Finance” is a broad industry, so use specific job titles to your benefit when doing a job search. Some examples of job titles to use are junior financial analyst, credit analyst, or accounts assistant. To help filter your results, include your location, years of experience, or required qualifications. It may help you find jobs you actually qualify for and save you time.
Are Jobs in Finance In-Demand?
It largely depends on the specialization, location, and employer. Job openings come and go. Economic conditions and regulation dictate which professions are in demand, but look at the bigger picture. Are there still companies that need people who can analyze financial documents and assess risk? Yes, and probably for the long run. As technology changes, so do the ways in which a task can be automated.
Just look at the growing role of data analysis. Finance and financial planning are leaning more toward data analysis, and finance professionals should be adapting and incorporating that into their careers as well.
According to one of your contacts, someone who can interpret the numbers, rather than just produce a spreadsheet, is what a business manager looks for in an employee. Before choosing a specialization, research the most current employment projections and job postings in your target country. These will help you make a more informed decision regarding your career than “broad claims” that certain professions are guaranteed to grow.
Also Read About: Finance Manager: Roles, Skills, Salary & Career Path
Long-Term Prospects and Finance Career Growth
A career in finance has long-term growth potential. An example is a junior analyst who is interested in management. They could specialize in areas such as corporate finance, investment finance, and other areas. Likewise, employees in the banking sector can specialize in areas like lending and risk.
A real-world example illustrates why I strongly encourage students to consider the development potential of a career from the outset. For instance, the finance assistant position at a medium-sized company can provide a great foundation for a career in finance. With extra training on cash flow and forecasting,g as well as improving their Excel skills, they can be well-positioned to qualify for a financial analyst job.
While considering your first job, ask yourself where you could be in a year. What responsibilities could you take on next? What professional development opportunities are available? Think long-term and consider the career potential of your first job in finance.
FAQs
What are the best jobs in finance?
Being in finance can help those who work well with numbers and are detail-oriented. If you also like working with people, a job in financial advice can be good, as you can help people make financial decisions and feel fulfilled.
Can I work in finance without experience?
Yes. There are assistant and junior roles in banking, as well as grad schemes and internships. Although you may not be able to show examples of your numerical skills, you can certainly highlight your ‘soft skills’ as well as your knowledge of various finance-related software.
What qualifications would I need?
Depending on the role, you may need a finance- or accounting-related degree, or you may need a specific accreditation for the role. Sometimes, a related skill set and experience may be as important as more traditional qualifications for an entry-level role.
What finance roles pay the best?
Senior finance roles and investment roles may pay higher compensation. Other factors such as your location, employer and experience may impact how much you earn.
Is finance a good career choice?
The finance industry is large with numerous pathways and opportunities for growth, recognition, and promotion. Other factors, like your interests and preferences, affect whether this industry is for you. This particularly applies if you are not committed to lifelong learning.
Conclusion
Knowledge of the careers you are researching in finance is key, including the responsibilities, qualifications, and advancement opportunities available. It is not a must for you to plan out your entire career to begin taking steps towards your goals. Consider your goals and set realistic, achievable goals. These may require developing certain skills. With a goal-oriented, progressive approach, you can find opportunities towards your goals.
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