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Why a Career in Finance is a Great Choice For You

 

Many people wonder why a career in finance is so attractive. Finance is one of the most lucrative professions, and salaries can reach $81,760 a year. The job duties include forecasting, budgeting, and analyzing. There are many career paths in finance, including those requiring a master’s degree or a PhD. Read on to discover why a career in finance is a great choice for you.

Average salary for a finance professional is $81,760 a year

A career in finance is rewarding, but it can also be demanding. Whether you work for a large bank or a small one, you’ll spend long hours, often under pressure to perform and sometimes even face being fired if you don’t meet expectations. Regardless of the job you end up choosing, the average salary for a finance professional is $81,760 per year.

While salaries for finance professionals vary greatly, there is a general range for most positions. The highest paid professionals in the financial industry earn an average of $134,180 per year. However, this figure can vary widely depending on the position and level of experience. If you are just starting out, an entry-level position in finance may pay as low as $63,000 or as high as $200,000.

Those with an MBA in finance or an MBA in business can work in the finance industry as financial analysts. These professionals often have certification as Chartered Financial Analysts. The median salary for these professionals was $81,760 in 2016, according to the BLS. The number of job openings for these professionals is expected to increase by 11 percent between 2016 and 2026. But as with all careers, there are ups and downs.

Job duties in finance include forecasting, budgeting, and analyzing

A financial analyst’s job description may be as diverse as the work that he or she performs. The role involves evaluating the financial health of the company and collaborating with business unit leaders to produce models to forecast long-term growth. The analyst analyzes the performance of a company’s products and departments and makes recommendations to senior management. The analyst also owns the process of producing financial statements and financial models, scenario planning, and defining processes for monthly, quarterly, and annual budgeting.

A financial analyst’s job description must be comprehensive and detailed enough to allow him to produce accurate and timely financial analyses. The role requires advanced knowledge of economic policy and the cyclical processes in finance. He must be able to integrate his or her core competencies into his or her daily functions, such as interpreting data analytics, preparing reports, and working in a fast-paced environment.

As a financial analyst, you’ll study operational and financial information and perform complex budget analysis for long-term forecasting. You’ll also prepare presentations and status reports, and partner with other departments to streamline reporting. Finally, the job requires excellent organizational and communication skills. A bachelor’s degree in finance or a related field is preferred. If you’ve always dreamed of being a financial analyst, this job description is for you.

Career options in finance

There are many different career options in the finance industry, and all require technical knowledge, managerial skills, and professional insight. The most sought-after degree is an MBA in finance or MS in finance. You can also complete several certifications for your financial industry career, such as the Chartered Financial Analyst (CFA) and the Certified Public Accountant (CPA). Other popular certifications include the ACCA and the US CMA. These are great if you want to work in the business side of accounting, while the US CMA is an excellent certification for the technical side.

The first step to a career in finance is to determine which degree you are seeking and what kind of training you’ll need. Some career options are directly related to a finance degree, while others require additional education, training, or professional formative courses. The National Occupational Classification is an excellent resource for more detailed information. Choosing a Bachelor’s degree in finance is a great way to get a head start and learn about the job environment.

Another great career option is to become a financial manager. This role requires the individual to lead a team of financial analysts. As a financial manager, you’ll manage a firm’s cash flow and manage financial instruments. You’ll be the link between the top-level organizations. Investment bankers are in demand and can earn very good money. There are many options for those with an MBA in finance, but one of the best jobs for those with a bachelor’s in finance is working in an investment bank.

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