With the endless list of career opportunities available in the financial sphere, it might be difficult for you to choose a career, particularly as a beginner. It gets even more challenging if you are on a finance internship with no experience or a college graduate looking to further education.
Questions would arise on what steps you should take next in your career path. The finance industry is broad. There are numerous jobs in accounting and finance,fintech, banking and investments, and other financial spheres. But how do you know which of these options is most suited for you?
To make life easier, we’ve teamed up with experts from job aggregator Jooble to provide you with detailed information on the top five professions worth exploring in finance. Let’s proceed.
Top Five Professions In The Financial Sphere
As earlier established, there is a long list of options to explore in the financial industry. You may choose to join the finance department of a company, apply for jobs in the banking and financial services sector, or take active steps into the world of investment banking or the financial markets.
With that said, below is an overview of the top five job opportunities for you to explore.
1. Investment Banking Jobs
Investment banking is a significant field in finance. It is a segment of banking that focuses on helping individuals and organizations raise capital for their businesses while also providing financial consultancy spaces for them.
Investment bankers invest in growing ventures, constantly buying stocks, bonds, and other investment products. The profession offers the opportunity of working at alternative asset management companies like private equity institutions and capital firms. The annual salary range for investment bankers is 60,000 to 80,000 dollars, depending on the employer.
The jobs that you can try out as an investment banker are:
- Mergers and Acquisitions (M&A)
- Private Equity
- Venture Capital
2. Corporate Finance Jobs
With an average salary of 120,000 dollars, the field is one of the most lucrative ones in finance. Individuals in corporate finance might work in a range of sectors. Types of corporate finance jobs include finance manager and accounts manager.
Finance managers keep track of a company’s finances, analyze data, and offer advice to top management on how to increase earnings. They frequently operate as part of a team, contributing to making critical organizational choices, a task that necessitates analytical ability and excellent communication skills.
An account manager is a person who works for a firm and is in charge of managing sales and relationships with specific customers. Account managers are responsible for all financial aspects of businesses like financial reporting, bookkeeping, and others. They ensure to oversee the completion of financial statements and ledger accounts. Another duty of the account manager is to maintain a company’s existing relationships with its clients to continue doing business with the company.
3. Financial Advisors
This profession is among the best-paying jobs in finance, with an average annual salary of about 65,000 dollars. Financial advisors are professionals who help individuals, clients, and businesses identify long-term and short-term financial goals and help them make sustainable plans toward these goals.
Financial advisors can help with various things, including investment management, tax preparation, and estate planning. Financial advisors are increasingly serving as a “one-stop-shop” for the portfolio management of insurance products.
In addition to being financial advisors, they are also regarded as teachers. They will help you understand the complex investment, insurance, and tax issues as your company grows. They also give a detailed explanation of what’s involved in achieving your long-term objectives.
4. Financial Software Developer
Careers in financial software development have increased in popularity in recent times. Companies are starting to scout for new talents that can create programs that meet the needs of their institution and their users. Financial software development is ranked among the best-paying jobs in finance, with an annual salary of 107,669 dollars. However, you need to be highly intelligent and enjoy solving technically difficult problems.
Traders, asset managers, and analysts rely on technology and software programs to conduct their jobs. Therefore, financial organizations place significant demands on their IT systems. Financial software developers, who work in the growing financial technology space, create programs that meet the needs of financial institutions and end-users. This will enable finance personnel to analyze large volumes of data quickly, make quick choices, and handle millions of trade transactions every day.
5. Financial Risk Analyst
The role of a financial risk analyst in any firm is first to identify and then analyze different areas of potential risk and economic threats to the system. A financial risk analyst is responsible for predicting changes and trends that might affect the organization.
Financial risk analysts remain ahead of the curve by spotting economic trends and informing clients about potential threats to their assets, earning capacity, and businesses. They also give clients and organizations detailed recommendations on the best methods to invest their money and expand their operations.
Ultimately, they provide recommendations for reducing or controlling risk within the system. Every institution needs a financial risk analyst, and the demand for the profession is always on the high side.
While starting a career in the finance field can come with some challenges, building your professional skills comes with its perks as it is a very lucrative field. The industry offers many opportunities for people to specialize.
The financial services industry is a key component of developed economies and has become more important in the past decades. After reading this article, you will understand the finance job descriptions of the top five professions in the financial sphere. This will help you choose the profession that aligns with your career choice, skills, and competencies.
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