You’ve always had a penchant for numbers, your favorite magazine is Fortune, and you find the world of high finance riveting–so riveting, in fact, that you long to pursue a degree in the field. The only problem is that you are not sure what career doors a Finance Degree will open.
Well, there’s good news. Your degree in finance will open up a cornucopia of career doors in a variety of industries. Here are just a few for your perusal.
If you long to roll with the big wheels, thrive under pressure, and are willing to assume a great deal of responsibility, you might enjoy working as a financial analyst. Embarking on tasks that include analyzing a client’s financial situation, studying economic trends, and making recommendations based on said client’s goals, their risk tolerance, and the current financial climate, you will need to be comfortable with advising people on how to invest, what to invest in, when to invest, and when to sell. You must also be adept at collecting and making sense of data.
According to “5 Online Degrees that could Pay Off,” the median annual salary enjoyed by financial analysts is $78,380. And the Bureau of Labor Statistics states that this field is projected to grow by 16 percent between 2012 and 2022, which is faster than the average for all occupations. It is important, however, to note that since a high percentage of these positions are found at major financial institutions based in large cities like New York City, your higher cost of living will need to be factored in.
If you love numbers and working with people, a career in financial planning will enable you to put both of these skills to good use. The “Guide to College Majors in Finance” states that a “good financial planner understands investments, taxes, estate planning issues, and knows how to listen.”
The good news is that budget-savvy, natural money managers like yourself, are in high demand. According to the Bureau of Labor Statistics, the employment of personal financial advisors is projected to grow by a whopping 27 percent, which is significantly faster than most other positions. The median salary in 2012 was $67,520.
“Jobs That Require a Finance Degree” recommends that a Loans Officer should be an effective communicator who can put people at ease. If this sounds like you, this may be the perfect career fit. If collecting personal and financial information from prospective clients, calculating whether or not they qualify to borrow, and setting the terms of the loan sounds like something you’d enjoy, you may wish to pursue a position in commercial lending, mortgages, automotive financing, or personal loans.
According to the Bureau of Labor Statistics, some loans offers work on commission, while others receive a salary. Either way, the median yearly wage in 2012 was $59,820. The projected growth rate for loans officer positions is 8 percent–somewhat less than the aforementioned career choices.
This is a mere sampling of the many careers that you can enter with a Finance Degree, but these offerings are indicative of just how lucrative this field can be. So follow your heart–and your natural abilities–and do something that you will love. And enjoy a long and fruitful career in the realm of high finance.
What advice can you offer someone who wishes to pursue a career in finance?