The financial sector is a dynamic global industry that is constantly evolving and growing. It is the backbone of the global economy as it provides the capital businesses need to grow and expand. Many people are drawn to finance because it is an exciting field. People in finance are often considered intelligent, driven, and ambitious.
However, some people may be hesitant to pursue a career in finance because of the recent economic downturn. While it is true that the financial industry is constantly changing, and there is some risk involved, there are still many reasons why pursuing a career in finance is a wise choice.
Here are the top eight reasons why pursuing a career in finance is still worth it:
1. There is a lot of opportunity for advancement
There are many opportunities for advancement in the finance sector. If you are driven and motivated, you can quickly move up the ladder. You can take many career paths in finance to find the one that best suits your skills and interests. Some popular finance careers include investment banking, financial planning, and accounting. Numerous students pursuing a finance degree end up working in management positions or as financial analysts. Many institutions offer programs that can help you prepare for exams to become certified financial planners or analysts. You can also enroll in online learning and exam preparation programs and courses to help you advance in your finance career. For example, Wiley CFA offers comprehensive CFA exam preparation courses that can help you pass the CFA exams and begin your finance career.
2. You can earn a high salary
Finance is one of the highest-paying industries. If you want a good salary, then a career in finance is a great choice. The median salary for financial analysts is $81,410 per year, and the job market is expected to grow by 6% from 2020 to 2030. Accountants and auditors earn a median salary of $77,250 per year, and the job market is expected to grow by 7% from 2020 to 2030. Also, there are many opportunities to earn bonuses and commissions while working in finance. With proper skills and experience, you can make a six-figure salary and enjoy a comfortable lifestyle.
3. You can work in various industries
Finance is a versatile degree that can lead to a career in various industries. Many students who study finance find jobs in the banking and financial services industry. However, many other sectors also need finance professionals. For example, you can work in the healthcare industry, the government, or even a non-profit organization. The skills taught to finance students are highly desirable in the job market and can be transferred across various sectors. Finance professionals’ most important skills include financial analysis, critical thinking, and problem-solving. With the help of these skills, many businesses can make important financial decisions.
4. You can operate from anywhere in the world
The global nature of the finance industry means that you can work anywhere in the world. Many multinational corporations have finance departments all over the world. You can also work for a bank or other financial institution with branches in different countries. Many people who work in finance enjoy the opportunity to travel and work in various countries. The global nature of the finance industry provides many opportunities for those who want to work in diverse locations.
5. You can help businesses grow
One of the most satisfying factors of working in finance is being able to assist firms in growing. If you work in corporate finance, you will be responsible for making decisions that can impact a company’s growth. For example, you may be involved in issuing new equity, debt, or investing in new projects. These choices have the potential to alter a firm’s long-term prospects. As a finance professional, you can take pride in knowing that you are helping businesses grow and prosper.
6. You can make a difference in the lives of others
Many people who work in finance find that they can make a difference in the lives of others. For example, you may work for a bank that provides financing for small businesses. It can help entrepreneurs start and grow their businesses, positively impacting the local economy. You may also work for a financial planning firm that helps families save for their future. It can have a significant effect on the lives of your clients. It is gratifying to know that you are making a difference in the lives of others through your work in finance.
7. You can have a flexible career
One of the great things about a career in finance is that it can be very flexible. There are multiple jobs in the financial sector, and you can find one that fits your lifestyle. For example, if you want to work fewer hours, you can choose to work as a financial planner or an investment analyst. These jobs typically involve working with clients on a part-time basis. If you are looking for better flexibility, you can also work as a freelance consultant. It allows you to set your hours and work with clients on your terms. If you love the challenge of working in a fast-paced environment, you can choose to work in investment banking or venture capital. These jobs are typically very demanding but can also be very rewarding.
8. Working in finance will help you develop better interpersonal skills
Working in finance will help you develop better interpersonal skills. With the constant interaction with clients and co-workers, you will learn how to better communicate and collaborate with others. In addition, it will also help you develop problem-solving skills. As a finance professional, you must find innovative solutions to complex problems. These skills are essential in any profession and will help you be successful in any career you choose
Conclusion
If you are still confused about choosing finance as a career path, hopefully, we’ve provided some compelling reasons why pursuing a career in finance might be worth your time. The world of finance is constantly evolving and offers plenty of opportunities for those with the right skillset. And, who knows? You might find yourself at the top of your field with a little hard work and dedication. What are you waiting for? Start pursuing your finance degree today!
