Introduction
Many would say that it is such a great job to work with money and indeed, it is. In fact, working with money is such a great line of profession that has made the finance industry such a major boom in the world. However, even though finance careers are highly rewarding, they are not simple in the course and neither is it easy to acquire such careers. Careers in finance demand that a person understands the patterns of the economy and importantly be in touch with the ever-changing investment industry and have essential personal attributes such as determination and persistence (Ahern, 2015). This paper will highlight various careers in finance, studies two pertinent of the careers and make a recommendation on one job based on importance and reward.
Career Information
Finance is broad and falls into three broad categories that are public, personal, and corporate. Careers in this industry range from banking, investment, real estate, planning, managing, insurance and commercial banking. All career paths are successful if undertaken with focus and dedication to work. However, of all these career options in finance, two stand out as more promising and suitable for a person that desires to explore the financial industry to success (Ahern, 2015). Finance analysis planning and Banking stand out as the two most rewarding career paths in this line of work as confirmed by the trends in the market. A financial analyst and planner are not limited to a certain line of work because they study dynamics of situations and propose suitable solutions. Analysts are familiar figures in banks and investment businesses.
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Analysts bear the sole responsibility of conducting researches on investments and giving appropriate opinions and suggestions. Financial analyst’s positions spread wider to some corporations and other organizations that have anything to do with the analysis of a financial position and budgeting. Bankers, on the other hand, are people that help institutions and organizations like corporations and governments in raising funds given by stocks and bonds (Ahern, 2015). They are charged with the tasks of studying the markets and assist the organizations above in making decisions on how best to raise funds from bonds and stocks. Most bankers find job opportunities in brokerage organizations, companies that offer financial services and investment banks.
Essential Skills
Financial analysts planning
Similar to other finance professions, one requires a college degree as a basic requirement to get into the profession. However, it is well to mention that there exist different levels in financial analyst’s planners. There is the entry-level entry, investment analyst and the financial analyst. A person with a degree from a recognized college begins as an entry analyst after graduating. The investment analyst is different from the entry-level analyst because they tackle more duties like corporate bonds and high-grade stocks (Careers, 2012). A person must first have been an entry-level analyst with three years of experience and a subsequent degree to get to the investment level.
The financial analyst is profoundly concerned with the analysis of cash flows and must have a degree and three years of experience. To become a financial analyst one must have a master’s degree in finance. The different levels of analysis in their professions demand different levels of academic requirements. However, they all need a person that is inquisitive about things, a critical thinker, and an excellent communicator.
Banking
The Bureau of Labour Statistics insists that the fundamental academic requirement for anyone to be a banker is a bachelor’s degree (Careers, 2012). A person can pursue the career on completion of their undergraduate program although they must have majored in finance or accounting to get into investment banking . Apart from the academic credentials, it is imperative that a person has good grooming, good communication skills and be able to think critically.
Recommendation
Every career has positives and negatives, and so do careers in finance. However, some career lines are better than others are because of rewards, status, and manner of operation. Financial analysis is a better career than banking or any other career in finance (Career, 2012). First, it has no limitation regarding the place of work as an analyst can work in almost every area that handles money.
Financial analysts have their hands in almost everything and are a precious asset to any firm. As such, they are the most paid persons of all professionals in the finance sector. Secondly, the nature of their work does not tie them to one place, and most analysts enjoy a command of their time and location of work. They move freely and work from wherever they wish. Of course, there are some downsides to the line of work such as limited time for family and friends, long hours of work and fatigue arising from critical thinking all day long (Careers, 2012). However, the career line is promising, and the rewards are enormous at every stage from the lowest level to the highest level.
Conclusion
Finance is a broad industry and as such offers a variety of career options. Of all the career paths in the industry, financial analyst planning, and banking proves more promising concerning a successful career. It also is understood that the two are highly competitive and hence the lucrative nature. However, it is not easy to get into these professions, as one needs both academic and personal skills to both be in and maintain them.
References
Ahern, K. R., Daminelli, D., Fracassi, C., Sosyura, D., Duchin, R., & Shumway, T. (2015). Kenneth R. Ahern. Journal of Financial Economics, 117(1), 165-189.
Careers, F. (2012). Financial Services Careers–Finance Careers–Wall Street Careers Web
