Every country has a financial sector that drives its economy. So no matter where you are in the world right now, expect to have a job demand in this sector even twenty years down the road.
You can gauge its importance from the fact that the Australian financial and insurance services employ approximately 3.8% of the total workforce in Australia.
The field of finance has a range of highly rewarding career options. These include banks, insurance companies, credit unions, credit card companies, brokerage firms, investment firms, etc.
This industry is perfect for those who want to explore different options and can keep up with a fast-paced work environment. As an energetic and ambitious worker, you are likely to thrive in this industry.
However, if you are a student and considering a career in finance as a potential option, let us tell you why it would be a great move for your future.
1. Diverse Roles
One of the best things about a career in finance is that you have various roles that you can choose from. Whether it is accounting, real estate, or insurance, the job opportunities are varied, so people with multiple interests and skillsets can benefit from it.
Additionally, you can find a role in this sector that suits your personality, be it closing deals in front of clients, or working hard behind the scenes. Despite the common misbelief, you don’t have to be great at numbers to succeed with a finance career, owing to these diverse roles.
Some of the jobs that you can find in this sector are:
· Audit director
· Asset manager
· chief risk officer (CRO)
· Financial controller
· Head of operations
· Internal auditor
· IT auditor
· Corporate finance manager
· Chief financial officer
2. Enhanced Interpersonal Skills
Customer satisfaction is a huge part of the financial sector, making the acquisition of good interpersonal skills vital for success. As a financial industry worker, you must provide a positive experience to your customers, whether you face clients or work behind the scenes.
In any case, you need to have impressive interpersonal skills to communicate with your clients effectively.
3. Dynamic Field
The field of finance is highly dynamic and has been quick to adapt to the industry’s technological advancements. This, coupled with a focus on client expectations, gives countless opportunities to all those interested in a career in finance. With this shift, it is an excellent time to start a career in finance.
Workers in this field are forward thinkers who quickly adapt to change with technical skills.
4. Job Opportunities
Have you heard of any country that doesn’t have a financial sector? We’re sure, no, because every government in the world does. The global financial industry is becoming more integrated with the help of technology that makes working overseas a lot easier than before.
Think about it. You can work for companies across the world and have excellent networking opportunities. There are also possibilities of working remotely with big corporations overseas without leaving your country.
5. International Placement
While there are opportunities to work remotely for an overseas company, if you work for a firm’s finance department, you can get transferred to other countries as well.
With ACA, CFA, certificate iv financial services online or other finance qualifications, you can be sent to other countries. Your company will pay for your relocation and save you the significant hassle by setting you up there.
Such opportunities provide you with experience of carrying out business in complex markets and working in culturally diverse environments. It also gives a stellar impression on your CV with the new skillset.
6. Long-Term Growth
When it comes to the financial sector, you can always expect personal and professional growth. The financial industry drives the world economies, making a career in it highly relevant at any time. As long as you work hard and leave a good impression, you will likely be noticed by your organisation.
Clients’ contacts are essential at any given time so make sure you focus on that as you go along. This industry has no ceiling making it the optimal choice for highly ambitious workers.
7. Good Salary
The need for qualified finance professionals rises alongside the proliferation of technological innovations in the finance sector. This results in high salary packages right from the beginner level all the way to the senior positions.
If you are a graduate, you will have a competitive salary, and if you stay in your firm for a while, it will only get better. An impressive base salary coupled with generous bonuses makes a career in this field highly rewarding.
You’ll also learn how to manage your finances better since that’s what you do professionally as well.
8. Educational Opportunities
Learning never stops, no matter your industry. Employers in the financial sector are generous with career advancement opportunities and pay for online financial courses for exemplary employees.
It is also likely for the employers to fund their employees’ masters or doctorate degrees, provided it contributes to their professional worth. This is a mutual and beneficial agreement for both parties.
9. Challenging Work
If you are someone who loves to push their boundaries, then a career in finance is a good option. The finance industry is fast-paced, and as a candidate, you have to keep up with it. Most employees in this industry face these challenges daily and enjoy them.
It may sound easy, but the individuals in this field need brains, relevant education, and hard workers to succeed. This is an intellectually stimulating line of work that helps you reach the top in the long run.
The majority of finance jobs require problem-solving skills, including catering to small and large companies’ complex problems. As a quick problem solver, you will definitely enjoy this career!
A career in finance provides the perfect skills and opportunities to shift to other industries. A 2019 Robert Half survey shows that one out of every five of the Top 100 CEOs of the FTSE (Financial Times Stock Index) Companies were accountants.
Finance-based jobs give you an excellent foundation to help you advance in a company. You learn the skills to understand financial statements and what impacts businesses’ revenue of costs. People with a non-finance background don’t have the same capabilities and find it hard to carry out these tasks.
You can also learn to interpret data, analyse consequences, and avoid mistakes expertly. This helps you progress to senior roles within your company.
11.Potential For A Startup
With practical knowledge of how to handle a company’s costs and revenues, you can easily start your own business. Proper cash flow management and financial planning are necessary for success, and you already have those skills aplenty.
As an employee in a finance firm, you have a substantial advantage over your competitors. So if you want to start your business at some point, a career in finance is a good place to begin with.
Of course, most people working in a field understand what it takes to succeed. But, generally, those with finance backgrounds perform really well at their job.
In addition to problem-solving skills, you will also learn to be self-motivated, detail-oriented, collaborative, analytical, organised, and deadline-oriented.
If you search Google right now, you will find many high position employees who started their careers in the finance industry. Every world economy needs a sound financial sector and offers a wide range of job opportunities to fit any person.
The finance sector will always have a job demand and provide countless opportunities to expand your career and enhance your skills. Even though this sector often has a hectic work life, employees’ hard work is consistently recognised and compensated.
If you are a quick thinker with problem-solving skills and love a good challenge, then you should consider a career in finance.
To strengthen your position in the finance field, you should take up courses like cert 4 in financial services from MCI to understand how it works.
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