By Matt Whittle
Individuals with analytical minds and strong attention to detail make good candidates for in-demand careers in finance. This field offers many roles beyond trading on the stock exchange floor, though many positions still include financial forecasting and investments for businesses and clients.
As the finance and tech worlds overlap more, professionals in these sectors can maximize returns on investments for individuals and organizations. This guide explores whether finance is a good career path, including salary data for finance jobs, projected employment growth rates and answers to frequently asked questions.
The Benefits of Working in Finance
Finance degree jobs can provide relatively high pay, stability, opportunities for advancement and consistent demand projections. Careers in finance may also offer flexibility for employees by allowing them to work remotely or in hybrid environments.
TheU.S. Bureau of Labor Statistics(BLS) projects that business and finance jobs will be in demand from 2022 to 2032, with 911,400 openings on average each year. Certain roles within finance, like financial examiner, are expected to grow over six times faster than the rate for all occupations nationwide.
Finance professionals also earn above-average salaries. BLS data indicates that personal financial advisors earned a median annual income of nearly $95,390 as of 2022, more than double the median annual salary for all occupations nationwide. Financial analysts—among the most common careers in finance—earned a median annual salary of $96,220.
In fact, the BLS reported relatively high pay for business and financial occupations overall. These professionals earned a median annual salary of $76,850, or about $30,000 more than the median annual wage for all jobs in the United States.
Cutting-edge developments at the intersection of finance and tech (fintech) allow finance professionals to stay up to date in an evolving field. The need for knowledgeable workers to assess investment opportunities will continue to drive demand for careers in finance.
Finance professionals can also pursue advanced roles in the field to take on more responsibilities and increase their pay. With more education, experience or certification in specific areas of finance, professionals can work infinance degreejobs as portfolio managers, chief financial executives and senior financial analysts.
Read the full article here: https://www.forbes.com/advisor/education/business-and-marketing/careers-in-finance/
FAQs
The Benefits of Working in Finance
How to answer why do you want to pursue a career in finance? ›
Tips to answer "Why do you want to pursue a career in finance?"
- Showcase your passion. ...
- Highlight your analytical skills. ...
- Discuss the impact. ...
- Emphasize the challenge. ...
- Show your understanding of the industry. ...
- Link it to your skills. ...
- Highlight the potential for continuous learning. ...
- Discuss the potential for growth.
One of the reasons for choosing finance as a career is the ample opportunities for professional growth and development it offers. A career in finance comes with clear progression routes. This industry has endless growth opportunities and the scope increases with experience.
What makes you passionate about finance? ›
One way to get interested in finance is by focusing on how it affects people's lives. By telling stories about how knowing about money can change someone's life for the better, we can make finance less confusing and more relatable. Including personal stories in discussions about money is a powerful tool.
Why did you choose to major in finance? ›
A finance degree can open doors to a broad range of dynamic professional opportunities — often with high earning potential in diverse industries. Finance majors learn fundamental business skills that can translate to careers in a variety of organizations in the public, private, and nonprofit sectors.
What motivates you to pursue a career in finance? ›
Why Choose Finance: Example Answer 1. I want to work in finance because I enjoy the challenging nature of the industry and how fast-paced it is. I thrive under pressure. I enjoy problem-solving and analyzing data, but also realize that finance is not just about the numbers, it is about the people too.
Why do you want to pursue this career answer? ›
When answering “Why did you choose this career?” you can point out factors like growth prospects, job security, scope, etc to help make a valid explanation. A possible answer to this HR interview question can be, “I have always found a certain satisfaction in writing and knew I wanted to make a career in content.
Why did you decide to pursue a career in accounting finance? ›
I chose a career in accounting and finance because I have always been fascinated by the way financial decisions impact a company's performance and strategy. My natural aptitude for numbers and detail-oriented analysis, combined with my interest in business operations, drew me towards this field.
Why should I hire you for a finance role? ›
Sample answer 3:
I pursued an MBA in finance which has equipped me with technical knowledge and a strong foundation to qualify for this job. I understand the industry trends, and I believe I have the right acumen for this job. I'm keen to use my knowledge and gain some more.
Why do you want a career in financial planning? ›
A purpose-driven profession
At the heart of financial planning lies the noble purpose of transforming lives through informed decisions. A career in financial planning is not about crunching numbers; you're shaping dreams. Guiding clients towards their aspirations provides a rewarding career of making positive impacts.
Working in finance offers deep involvement in a company's future growth, providing high levels of job satisfaction due to: Close involvement in management: The finance department plays a central role in shaping a company's future through funding and budget management, offering significant satisfaction and achievement.
How to show a passion for finance? ›
What are the best ways to demonstrate your fit for a finance role in an interview?
- Know the industry and the company. Be the first to add your personal experience.
- Showcase your technical skills. ...
- Highlight your soft skills. ...
- Express your passion and motivation. ...
- Follow up after the interview. ...
- Here's what else to consider.
Helping Others Through Financial Insights
I selected accounting as a career because it enables me to combine my love of helping people with my analytical skills. I think I can help a team make smart choices by offering accurate financial facts and insights, ultimately assisting them in achieving their goals.
Why would I choose finance? ›
In today's competitive job market, it is essential to stand out from the crowd. Having a finance degree demonstrates your expertise in financial management, risk assessment and strategic decision-making. Employers highly value these skills, making a finance degree a strong asset when seeking employment opportunities.
Why is finance a good career choice? ›
Finance degree jobs can provide relatively high pay, stability, opportunities for advancement and consistent demand projections. Careers in finance may also offer flexibility for employees by allowing them to work remotely or in hybrid environments.
How do you answer why I chose my major? ›
How to Answer “Why Did You Choose Your Major?”
- Introduce Your Reason With an Anecdote or Short Story. ...
- Show How You've Already Applied Knowledge and Skills From Your Major. ...
- Explicitly Connect Your Major to This Job.
Answer: I opted for a career in finance due to my enduring interest in numbers and adeptness in money management. Recognizing the pivotal role finance plays in all facets of business, I aspired to contribute to the decision-making processes that propel a company to success.
Why do you want to pursue a career in corporate finance? ›
A few of the perks of working in corporate finance are that you get the chance to develop good teamwork skills, since finance professionals generally work in teams. You also get to travel and meet people, and the pay is pretty good. A financial analyst can make $44,000 to $72,000 a year.
