What is Finance?
The finance industry includes just about everything involved with money, from investing, borrowing and managing money right through to creating appropriate financial policies. The three main categories of finance can be described as personal finance, corporate finance and public finance.
Financial entities in the private sector include banks, credit unions, superannuation providers, insurance companies and securities firms, while on the public side, the Reserve Bank of Australia plays a huge role in shaping monetary policy. The licensing, inspecting and regulating of Australia’s financial sector is the responsibility of the Australian Prudential Regulation Authority.
The following are just a few of the many jobs available in finance;
- Equity researcher
- Investment banker
- Portfolio manager
- Finance manager
Finance in Australia
Australia’s finance sector employs over 450,000 people and last year contributed roughly $140 billion towards the national economy. Australia’s four main banks are amongst the most profitable in the world and some of the largest regarding market capitalisation, while all four consistently rank in the top 25 safest banks globally.
Australia has the largest pool of investment funds in the Asia-Pacific, and the fourth-largest in the world and our annual rate of economic growth is consistently higher than the average for G7 countries (Germany, Japan, US, Italy, France, Canada and the UK).
While jobs in finance are found all over Australia, the financial sector tends to be seen around the major cities of Sydney and Melbourne. The average work week is 40 hours long, 83% of employees work full-time, and the average salary is $65,000 per year.
Whether you’re dreaming of a career as an investment banker or simply want to get better at dealing with your own finances, the right training is essential, so browse our range of selected finance courses, where you’ll find everything from in-class to financial courses online.
You can pick up a wealth of practical skills in personal financial management by taking one of the many short courses available, which include everything from share trading and accounting courses to superannuation management programs.
Certificate level programs provide the ideal pathway for those looking to move into entry-level roles, and these nationally recognised training programs can also be an excellent stepping stone into higher level educational opportunities. A Certificate IV in Financial Services, or a Certificate IV in Finance and Morgage Broking are popular at this qualification level and provide a detailed array of information to students to ensure they have all the knowledge they need to develop successful careers and even enter into higher qualifications. Certificates in finance often cover areas such as legislation, regulatory bodies, loan processes, calculation of fees and grants, as well as how to provide advice. Certificates can vary in length, with most Certificate IV courses taking between 6-12 months to complete.
Diploma level courses provide a solid foundation in the fundamentals of finance while allowing you to focus on an area of speciality. This makes them a savvy choice for those new to the industry as well as for professionals looking to change roles or expand their skill set. A Diploma of Finance and Morgage Broking, for instance, takes around a year to complete. If you want to get an in- depth range of knowledge that will serve you in this industry, it’s a worthwhile investment. There’s more to this career path than just working with finances, and a Diploma will help you develop the skills in establishing a rapport with clients and providing advice properly, as well as how to prioritise and generate flexible options for different people’s situations.
If you have your heart set on working in financial management or securing a high paid job for a major bank or investment firm, a bachelor degree will be required. Here you’ll learn all there is to know about financial markets, investment strategies and their relevant regulations, as well as the latest trends, software and legislation impacting the industry. The high- level skills needed to success in this industry are all covered extensively in a Bachelor of Finance, which often takes three to four years to complete. It’s ability to teach more technical skills, such as policy development and financial procedures make it such a valued finance course, both in Australia and around the world.
No matter what you’d like to do with your financial skills and knowledge, TAFE makes getting trained up easy, because whether you take an in-class finance course in your local area or study finance online your credentials will be widely recognised.
Career Prospects in Finance
Few professions are more future-proof than finance, as there will always be a need for individuals and organisations to manage, grow and maximise their wealth. According to Australian government data, there will be as many as 63,500 finance managers working throughout the country within the next three years.
Is a Career in Finance Right for You?
To do well in this fast-paced industry you need to be great with numbers, detail-oriented, and have a knack for spotting patterns and trends. You will also need to be comfortable working with high stress and large amounts of money, as this is a big responsibility that can dramatically impact the financial health of others.
Depending on your role, you may need to explain to clients how and why shifts in financial markets impact their investments, which means having quality communication skills, a tactful approach and a sympathetic demeanour. Many large banks and financial services organisations also have offices internationally, so there’s always the potential to live and work overseas as well.
Are you ready to take your financial skills to a whole new level? If so, you’ll find a course to suit all of your needs right here. So, what are you waiting for? Compare those many great options, find your course and get started today!