The finance sector is a challenging and sometimes competitive field and could be just the right choice for someone looking for a professional that is in demand over a range of industries. Many CEOs, managing directors, and other corporate leaders started in finance, so it’s also proven to be an excellent springboard to career progression. Here are 5 things you should know if considering a career in finance.
You might be surprised at just how many different career choices there are within this sector. Accountants, actuaries, stockbrokers, and a host of other professions are just a few of the careers you can pursue. Your main issue may be narrowing things down and figuring out which field interests you the most. Knowing this will help you develop targeted skill sets and may also require specialised training or qualifications, so it’s worth taking the time to consider your options. The sooner you know, the easier it will be to formulate a strategy and get your career on the right track.
If you are looking to secure a senior financial role, then you will require a finance or equivalent degree. It’s a good idea to research the universities that offer the courses you are interested in and then narrow it down from there. Many universities rank higher than others, so spend some time finding out which one is best suited for your location and the course you intend to do. If you are unsure where your choices fare in comparison to others, check out the list of universities in the UK which will give details of where they rank.
Finance is one of the top subjects for increased earning potential, so if money is your motivator and you want to become a top earner, it’s a good career choice. Your earnings will be dictated based on experience and position, but there is money to be made, and companies will pay a premium for someone who is at the top of their game. Many companies also offer large bonuses which can, in some cases, more than double one’s earnings.
If a 9-5 job is what you are looking for, then a career in finance might not be the best idea. Again, it depends on your company and your position, but most senior finance positions require you to work very long, unsociable hours. Many finance positions are also commission-based, and so the hours you put in, and your performance can very much dictate your earning capacity.
As with most professions, good interpersonal skills will do wonders for your finance career. Being able to effectively communicate with your colleagues, superiors, and clients makes a huge difference in how you are perceived.
Confident networking abilities can increase your chances of securing alternative, more superior positions and will go a long way into helping you reach your career goals. Many people have the perception that those in finance are introverted number crunchers which, in most cases, couldn’t be further from the truth.