There’s certainly profit to be had if your career plans include the finance sector. There are a number of key vocations to pursue and if you are looking for a high-paying career, then an applicable tertiary education degree is sure to help.
However, this isn’t to imply that education is a must. Many who start at a bank are initially trained as tellers after which they can pursue in-house courses and gain access to proprietor software, all in the name of career advancement, impressive salaries, and high positions.
5 careers to consider in the finance sector
Some who work in finance are self-taught, something made a lot more feasible thanks to the internet and its ability to facilitate online brokering – allowing interested parties access to financial instruments like derivatives, stocks, shares, and commodities.
5 careers to consider in the finance sector include, though are not limited to;
1. Accountant
To become an accountant doesn’t just mean the promise of a well-paying job, it also means becoming very employable. Accountants are ubiquitous – every industry is in need of their skills. The accountant skillset is broad, thus not only adding to the allure this occupation has to those who pursue it but also its wide applicability.
Accountants perform various tasks and functions in the finance sector and way beyond it too. Primary functions involve and are not limited to scrutinizing tax records and financial statements, adherence to compliance protocols, and making sure businesses comply with certain regulations.
2. Online trading
Becoming an accountant is prohibitively expensive, but it’s not your only way into the finance sector. Perhaps you’ve always harbored aspirations about being part of the elite group of people who trade stocks, shares, indices, and commodities?
Maybe you’ve always had a keen interest in the 500 largest companies on the stock exchanges of the US? You’d need to learn about S&P 500 or FTSE and it’s more than $4.6 trillion in invested assets.
However, the good news is that gone are the days of the massive gatekeepers of this world. Thanks to the advancement of the information superhighway, online brokers can facilitate all your trading needs, such as letting you trade at no cost on a demo account or giving you access to automated trading software.
3. Actuary
The study of actuarial sciences doesn’t come cheap, but then neither do the services of those who eventually become actuaries. Like accountants, actuaries can be found in numerous fields and industries such as health care, corporate finance, insurance, investment banking, and even sectors of entertainment.
The job of the actuary is to analyze the extent of risk a company can encounter by relying on financial theory and mathematical data. This information is then implemented in policies designed to lower risk.
For instance, if an actuary works for an insurance company, then based on various statistics and historical data, the actuary will help the insurance company determine how many claims is might experience in the period of one year and thus how many resources need to be allocated.
4. Personal financial advisor
Businesses, companies, and corporations aren’t the only ones who need their money to be managed, the same applies to families and individuals. Many of our life decisions revolve around finances – household expenses, retirement, taxes, etc. – a personal financial advisor can help you to traverse this complicated arena of life.
Most schooling doesn’t prepare us for the eventual extent that money plays in our lives, and thus a personal financial advisor can help to steer the rudder of financial uncertainty.
5. Loan officer
The property market has proven to be the most consistent. As long as people have existed, they’ve always needed land – that’s not going to change. Homeownership is an aspiration most people have and it’s facilitated through the expertise of a loan officer.
The job of the loan officer is to evaluate and recommend the denial or approval of a home loan. All kinds of variables are examined with the main goal in mind being to determine if the client can pay back the money. Loan officers are known to work in saving institutions, mortgage companies and commercial banks.
