The finance industry offers dedicated entrepreneurs the chance to expand their employment horizons.
With continued job growth and stable industry patterns, many find that a role in finance can be a lucrative career aspiration.
While other industries struggle in the aftermath of the recession, financial companies are thriving, and only expected to grow stronger in the coming decades.
Studying finance is a smart choice no matter what age or educational position you’re in, for these five reasons.
1. It’s a Stable Industry
There’s always a need for financial services.
According to the Bureau of Labor Statistics, financial analyst careers are expected to grow by a whopping 23 percent, while financial advising roles are expected to expand by 30 percent.
As the economy continues to strengthen after the last decade’s recession, it’s clear that the number of financial career opportunities will only continue to increase.
2. It Provides Varied Employment Opportunities
Whether you want to become a financial analyst, internal auditor, accountant, or any number of other roles available to those with finance education backgrounds, there are plenty of reasons a career in finance is a viable choice.
The employment opportunities in the financial sector are unlimited—no matter your interests or preferred work environment, you’re apt to find a large selection of roles to pick from.
From asset management to investment banking, client services to sales and trading, you’ll find a bevy of career opportunity in this business sector.
These opportunities also mean you can work in a variety of different environments: corporate settings, brokerage firms, insurance companies, and private banks are just a few of your options.
3. You Have the Opportunity to Advance
Once you’ve found your preferred career path, you’ll find plenty of opportunities for advancement.
Many financial professionals choose to become CFA charter holders.
This prestigious distinction can garner you access to better positions and higher pay, and give you a competitive edge in a saturated industry.
Many times you’ll find that employers will foot the bill in order for you to get this and other certifications; from CFA prep courses to exam entry fees, you can find that this is a good chunk of change.
Why would employers invest in this? Because they’re investing in your abilities, and these certifications can be mutually beneficial for both you and the company.
4. It Provides an Exhilarating Atmosphere
If you’re the type of personality that excels in quick-paced environments, you’ll likely find the finance field to be exhilarating.
Depending on your desired role, you’ll often find yourself forced to make quick decisions that can have a long-lasting impact.
For some, this is more stressful than enticing, but for others, this aspect of the industry can be very appealing.
If you like high stakes, finance is a great career choice.
To excel in finance-related careers, you should be inquisitive with an outgoing, high-energy personality.
Why? Finance jobs require you to be communicative; you may find yourself explaining high-level ideas and concepts to those who don’t understand finance jargon.
You’ll need to constantly alter your communication style in order to fit your intended audience.
5. High Earnings Potential
Compensation within the finance industry is generous; there is high salary potential for those that pursue careers in this sector.
While salary averages vary based on location, experience, and title, even the baselines of popular positions in the finance industry are enticing.
Financial managers can expect an average of $103,910 per year, while financial analysts can make almost $75,000. With the right certifications and experience, these numbers can merely be a jumping-off point.
There are numerous reasons to consider a career in finance.
If you enjoy working with numbers, thrive in a high-pressure environment, and are looking for a career path that offers plenty of opportunity for advancement, this might just be the right fit for you.