Would a career in Finance be a good fit for me? – BigFuture (2024)

FAQs

Would a career in Finance be a good fit for me? – BigFuture? ›

Careers in finance can be reached through four different pathways: Securities and Investments, Business Finance, Banking Services, and Insurance. If you're good at math or like to work with numbers, this may be the career to pursue.

Still, a career in finance isn't for everyone. If talking about money bores you, for example, you might want to choose a different path. Similarly, if math was never your subject, it's not a dealbreaker, but it is a skill you'll need to practice regularly in this field.

Understanding money is central to the finance major, so you should be detail-oriented and comfortable working with numbers. At the same time, work in finance also involves a lot of interaction with other people, so communication skills are also important.

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.

Finance degrees are in much demand worldwide, with many different career path options and great monetary benefits. The Bureau of Labor Statistics forecasts finance-related jobs to grow 7% from 2021 to 2031, with an expected increase of about 715,100 new jobs and about 980,200 openings from growth and replacement needs.

Finance degrees are generally considered to be challenging.

Pros and Cons of Finance Jobs

They can include high stress, big responsibility, long working hours, continuing education requirements, and, in some cases, a lack of job security—the finance industry is generally quite cyclical.

Successful students have a willingness to work hard.” Dr. Halstead also stresses, “An individual who majors in finance should enjoy quantitative work.” Though finance is a separate field of study from accounting, finance professionals should have an aptitude for numbers and basic accounting.

Getting your foot in the door of a finance job isn't always easy. Start by getting part-time or full-time finance internships, ideally while you're still studying, to gain a competitive edge. As you rack up years of experience, your options will improve.

“Finance and Business Analytics obviously require some math, but the math typically in the MBA program is much more applied math,” Balan says. “If you have a general understanding of college algebra, that usually is sufficient. You don't need more theoretical math.”

Who is a good fit for finance? ›

If you're good at math or like to work with numbers, this may be the career to pursue. If you like to solve complex problems or if you are interested in organizing information, you might want to learn more about this career path.

Why are you interested in a career in finance? I'm interested in a career in finance because it offers a dynamic environment that combines analytical thinking with strategic problem-solving. Finance roles impact businesses fundamentally and globally, providing a platform for continuous learning and growth.

Financial Manager Positions

These financial management positions include controllers, treasurers, credit managers, cash managers, risk managers and insurance managers. Since each of these positions requires strong analytical skills along with the ability to work independently, introverts tend to make ideal candidates.

How To Decide? Finance is an exciting major with plenty of career opportunities. If you are interested in solving problems in creative ways or helping companies to plan how to grow their revenue or maintain profitability, a finance major is right for you.

Overall, finance students rate their satisfaction with their degree a 3.1 out of 5.

You can check your own credit report by using an online checker, and this will give you a good idea of where you'll stand when applying for finance. Experian, Equifax, and TransUnion all have online credit checkers, and are the three main credit reference agencies that finance companies use.

Financial stability can be defined differently for each person, but there are some common indicators of being financially secure. Signs of financial stability include following a budget, living below your means, saving money consistently, prioritizing debt repayment, and paying bills on time.

Low Debt-to-Income Ratio

Your debt-to-income ratio is a measure of how much debt you have compared to your income. A healthy financial position usually means having a low debt-to-income ratio that won't give you nightmares. You're not drowning in debt; you're in control and making progress towards being debt-free.