If you ever encounter someone who says that they work in finance, you’ll probably have to ask them to be more specific if you really want to get the full picture of what they do. Basically, a career in finance can mean many different things.
People on the front lines who deal with public everyday, all the way to the one who sits in the big seat in the boardroom may be considered to have ‘career in finance.’ To get a handle on exactly what the world of finance careers entails, you will have to dig a bit deeper.
Education
Just as careers in finance might vary, so too can the educational requirements to land certain finance jobs. You might be able to get into a lower level finance job with little more than a high school diploma, but as the positions rise, so will the educational requirements.
If you want to start off higher or move into management positions in the future, a bachelor’s or even Master’s degree may be necessary. For some financial careers, specific degrees are required to even get your foot in the door.
Internships and part-time job placements are also usually part of the package in college. This will provide valuable real-world experience to give you a head start when you enter the financial job market, and help you decide what area you may want to specialize in.
Types of Jobs
Banking – Naturally, anything to do with banking is considered a career in finance. Any position within a bank is a financial position to some degree. This includes branch managers, personal or investment bankers, mortgage brokers and bank tellers.
Accounting– Accountants work in all industries and may specialize in one of several areas. Some accountants work with public companies, some work in the government, some specialize in taxes and some might prefer auditing. All work with numbers and money, and may work independently or as part of an organization.
Financial Planning – Financial planners help individuals and businesses manage their money and plan for their financial future. Financial planners need to know about currency and investing, wealth management and retirement savings. As with accountants, a financial planner may work independently or as part of a larger organization.
Fund Management – A fund manager typically works for a finance company and invests client’s money in stocks, into companies or in other markets. A fund manager must have a thorough understanding of all the factors that affect the world markets and individual companies.
Financial Risk Management – Financial risk management refers to using different tools to manage a company’s exposure to risk. The process involves identifying, measuring and acting upon different types of financial risk within the organization.
Corporate Finance – A career in corporate finance might mean several different things, but you would probably be involved with finding funds to run the business and grow the business. Planning for the company’s financial future and managing funds are other possible job duties. In a corporate finance career, you might work for a huge, multinational corporation or a smaller organization looking to grow.
This article is provided by Accounting Principals, we are the leading finance and accounting staffing company. For more information about our recruitment services, click here.