In the ever-evolving and technology-driven world that we live in, deciding what to study and what career path to pursue is never an easy decision. Gone are the days when students had just a few career paths to choose from for their entire life. Today, the types of career options you can pursue are far and wide. However, even in these rapidly-changing times, some career options have continued to remain relevant and high in demand. Finance is one such profession.
Pursuing a career in finance is a smart study option because it is one of the few professions which comes with the possibility of securing an impressive, well-paying job as soon as you complete your degree. The world of finance is exceptionally vast and diverse, giving finance graduates multiple career options and specialties to choose from according to their skills and interests. Moreover, the career opportunities for finance majors only increase as you gain more knowledge and hands-on experience in your field.
If you are wondering what you can do with a finance degree, here is our list of the seven best career opportunities for finance majors right now:
1. Financial Advisor
Financial advisors have an essential role to play in the world of finance; they provide their clients with specialist advice on how to manage their money effectively. They help their clients with matters related to financial planning, investments, savings, retirement planning, and insurance. To work as a financial advisor, you must have advanced knowledge of taxes, budgeting, risk management, and estate planning. Secure communication and interpersonal skills are also vital skills in this role as financial advisors often have to work with numerous clients.
2. Finance Manager
Finance managers are responsible for ensuring the financial health of a business. They come up with the most suitable strategies and investment plans to achieve the long-term financial goals of the organization.
These individuals have a variety of duties to perform. They prepare financial statements and reports that are used by the senior management for decision-making. Moreover, they make sure all financial affairs of the business are taken care of, from managing liabilities and ensuring sufficient liquidity in determining the funding requirements of the business and arranging suitable finance. If you are wondering how to become a finance manager, a bachelor’s in finance is a minimum requirement for this role, with additional qualifications such as a master’s degree or certifications serving as a bonus.
3. Financial Analyst
Financial analysts help individuals and businesses make sound investment decisions. They monitor the performance of bonds, stocks, and other kinds of investments using current and past financial data as well as business and economic trends to identify the most suitable investment options according to the business’s financial goals. Financial analysts are often working in banks, securities firms, mutual funds, pension funds, and insurance companies.
4. Chartered Accountant
Students with a finance major have all the skills required to be a chartered accountant. Chartered accountants are employed by all kinds of organizations, from private companies and government bodies to multinational organizations. They can offer financial advice, manage an organization’s budgets and economic system, deal with taxation matters, and perform financial audits. To work as a chartered accountant, you will usually require a professional certification, which requires passing a few exams and gaining a few years of relevant experience.
An auditor analyzes the financial statements and records of the business to determine their accuracy. They must express an opinion on whether the financial records portray an accurate and fair view of the financial affairs of the company and report any irregularities or discrepancies to the senior management and shareholders. An auditor can be an independent third-party engaged to check the business’ records, or they could be employees of the company who work on internal audit assignments. To work as an auditor, you need to have sound problem-solving skills, an excellent understanding of accounting and finance as well as an eye for detail.
6. Financial Examiner
A financial examiner ensures that all financial transactions of the business, such as its income and expense accounts, loans, and tax records, comply with all the relevant rules and regulations that apply to the business. These professionals usually get employed by government bodies, healthcare providers, banks, and insurance companies. A bachelor’s degree in finance and sound knowledge of accounting is a requirement for this role.
7. Financial Risk Manager
The modern business faces a significant amount of risk as a result of operating in today’s unpredictable marketplace. If not managed correctly, these risks can result in financial disaster. It is where financial risk managers play an essential role. Businesses can hire the services of these professionals to help identify and reduce the possible risks that could derail company profits and growth.
Financial risk managers usually work as independent consultants providing their services to several clients. They may also be hired by large companies that prefer to have in-house risk management experts. Excellent communication, quantitative analysis, and problem-solving skills are essential skills for this role.
If you love numbers and are interested in learning about how the world of finance works, a finance program can be an excellent option. As no organization can survive without individuals who ensure the proper management of its financial affairs, it is that one qualification that will always be in demand.
Major in finance opens up the door to multiple career opportunities across different sectors. Plus, most finance jobs pay exceptionally well. So, if it is your passion, you should pursue it without a second thought; your hard work in developing your career is sure to pay off well in the long run.