Pursuing a career in finance is not just about money, although it involves handling money. The finance industry is broad, and there are a lot of career options new professionals can pursue. While public sector recruitment firms and online job hunting sites can help you find the perfect job, you must know your interests and strengths. Here are possible career options to take for the new business graduate.
The financial services industry offers a variety of positions that can open doors for many possible opportunities. This niche is popular among professionals who are looking for a career change.
The sector is the primary driver for a nation’s economy. It deals with the flow of capital and liquidity in a competitive marketplace. When the sector is firm, the economy grows. The companies in the industry can manage financial risks.
People who want to pursue a career in financial services could be employed in banks, finance companies, real estate brokerage, and insurance companies. They usually deal with financial markets, trading, risk management, capital structure, financial forecasting, and business fund management.
A career in financial planning means helping individuals ensure their financial stability. Financial planners review a client’s goals and plan for investing and saving that will meet their client’s needs. Their focus is on wealth preservation and can include tax and estate planning.
Most financial planners charge a flat fee for their services. However, they could get commissions on products they can sell, like mutual funds and insurance policies.
Financial planners are in-demand these days. Yet, a career in financial planning is for people who are fond of learning new things. Financial planners need certifications and thousands of hours of experience. They are also required to pursue continuing education.
Another career option that is linked to financial planning is insurance marketing. These professionals are sensitive to the needs of their clients who need to protect their finances from losses. You can start as a customer service representative or as a sales representative for insurance policies.
Investment banking can be considered a glamorous job. Banks related to this are not “banks” where people save their personal money. These are consulting firms that offer advice on initial public offerings, stocks, mergers, and corporate refinancing. They are business analysts who work with clients whose goal is to expand their businesses.
Investment bankers often face clients who may not be aware of what they truly want for their business. As specialists, they should have a working knowledge of what works best in certain business fields. They could work on tasks like stock trading and research.
Hedge fund jobs deal with a variety of assets and financial products. They help companies or individuals buy and sell in the competitive financial market. A professional in hedge funds could work as a portfolio manager, financial analyst, or trader.
Another famous option among business graduates is to pursue work in accounting. Working in accounting means dealing with reviewing financial system data, keeping track of a firm’s financial obligations, and maintaining journals.
The profession requires more than just a basic knowledge of accounting principles. It’s more than just recording the money that comes in and out of one’s account. People who find success in accounting have an eye for organization. They are also fond of problem-solving.
Living in the 21st century means dealing with constant changes. As tech is constantly rising power, the industry requires people who are trailblazers. Working in financial technologies means dealing with new instruments that can deal with complex derivatives and options for understanding financial economics.
Financial engineers are responsible for developing software that can help reduce time in trading while allowing firms to profit. Their tasks include developing interfaces that can allow employees to interpret crucial financial data.
Regulatory bodies implement guidelines to be followed to protect the interest of consumers and businesses. To avoid conflicts, firms hire compliance officers to ensure that the processes they go through are legal.
Compliance officers evaluate business processes and compare them to existing regulations. They also audit company activities to avoid risk. Sometimes, they develop policies to prevent financial problems.
While compliance officers are seen as “cops” in the industry, they help maintain financial order in an organization. They know financial forensics, business law, and process planning.
To pursue a job that suits your interest, you must first measure the demand for a particular position. Discover your options and be open to many possibilities. Jobs in finance require different specialties. It is best to know which job is aligned with your abilities and interests so you can find a fulfilling career that lasts.