The financial field of work offers a variety of career paths that goes beyond simply managing money. You can work face to face on a personal level with a particular client to corporate finance working on the behalf of shareholders, primarily dealing with funding sources and investment decisions.
Here’s a list of the top seven careers in finance that you might be interested in:
For finance majors, a great option is to become a financial analyst. They work with individual investors and companies to produce analytical reports and projections to identify potential financial risks.
They do this by reviewing past and current financial data and any sort of financial movements in order to compile guidance to maximise profits. Researching financial markets to analyse trends and make informed decisions are also common practice in the risk management business.
2. Financial advisors
These are the people who help their clients create individualised plans to achieve specific financial goals. They often work in tax planning, savings, budget, insurance, superannuation, real estate, retirement planning and investment management.
When writing up a financial plan, a financial advisor will have to include the current net worth, working capital and assets. They hold meetings with their clients regularly to review their situation and their goals constantly.
Accountants are the people who manage their client’s financial statements and file financial and tax reports on their behalf. Their main duties include ensuring that their client’s taxes are paid on time, send invoices, prepare budgets and keep a record of disbursements.
The most common type of accountant is a public accountant, who work for either an individual or institution, helping them file their tax returns and perform audits. If you become an accountant, you will have to work with various other people, such as auditors and financial planners, not to mention you’ll have to review legal principles relevant to your reports.
4. Bank tellers
What is considered to be an entry level position, a bank teller is someone who typically greets the customer as soon as they enter the bank and is the first person to help them with whatever financial problem they may have.
Their main duties are to exchange money, take cash, checks and other forms of payments from customers to store in their accounts and electronically record each transaction made. They’re also responsible for the cash in the drawer, meaning that they have to count the money when they start their shift and when their shift ends.
5. Financial planner
Certified financial planners are people who focus on achieving the long-term goals of an individual or company. While they are quite similar to financial advisors, the latter is much a broader position that generally helps their client manage their money across other accounts. Technically speaking, financial planning is a type of financial advisor, who are more specialised in a particular area in investments, estate planning or taxes.
6. Asset manager
Asset managers monitor any resources owned by the business they work for. Their main goal is to increase asset values, and often work independently to maximise revenue. They work with their clients to make investment decisions to expand their portfolio using macro and microanalytical tools.
In order to make the correct decisions, asset managers will have to undertake a statistical analysis of the financial market and discussions with company officials.
7. Portfolio manager
A professional who is involved in financial management, a portfolio manager oversees investment portfolios for their clients. They discuss different strategies and the overall performance with their clients and work alongside a team of financial analysts to identify the strategy for their client’s particular portfolio.
In fact, portfolio managers often start off as financial analysts and many have a master’s degree in business administration or finance, though it isn’t necessary for the position. In short, much of their work revolves around exchange-traded, mutual or closed-end fund’s assets.
Finance professional skills and qualities
All of these careers require a finance degree, usually a bachelor’s degree in finance, accounting, economics, business or any other related field. Short courses may be needed to increase your employability prospects along with the proper work experience.
Want to read more?
Here's some more articles similar to this one.
IT Careers You Can Study Entirely Online
Online learning in Australia is rising significantly; in fact, in recent years, the number of people studying online has risen by 40%. This tends to reflect the rapid changes in communications and...
Counselling Careers: Help Yourself to Help Others
Don’t think that just because counsellors don’t get paid as much as psychologists that they can study less. These days, if you want to work in counselling you need at least a...
Insurance Careers: Look Before You Leap
One of the tenets of insurance is precaution, so if you’re considering a career in insurance, it’s a good idea to get as much information on the types of insurance jobs available as possible,...
The Best Recession-Proof Jobs
Given the current economic impact of COVID-19 and with a forecasted estimate of two million Australians left unemployed, many understandably fear the impact a recession could have on their employment status. Scenes...
Seven Different Careers in Finance
The financial field of work offers a variety of career paths that goes beyond simply managing money. You can work face to face on a personal level with a particular client to...
What is Para-planning? Your Complete Guide
People who work in para-planning are called para-planners and are the administrative backbone of many larger financial planning companies. Often para-planners are junior staff members of a financial planning group who work...