Finance can be an excellent career option for anyone who has fun working with numbers. The sector is also highly lucrative making the demand for finance professionals extremely high.
Imagine having the power to turn numbers into pathways, data into decisions, and dollars into dreams. That's the magic of a career in finance. It's a world where financial professionals are the architects of prosperity, helping individuals and organisations navigate the intricate maze of money.
However, breaking into the world of finance isn't a cakewalk. A career in finance requires education that can expose you to financial concepts and valuable information you can use in your future career. If you want to land a finance job, you will most likely need a bachelor’s in business.
What are the usual job activities in finance?
The job activities in the finance sector are diverse with a variety of job roles that each have their own specific requirements and skills. The activities can also vary depending on the position, industry, and organisation. However, the most common job activities in finance include accounting, financial analysis, financial planning, portfolio management, investment banking, financial reporting, and corporate finances.
Finance professionals offer finance, tax regulations, and accounting expertise to deliver essential financial services in different sectors. Their scope often encompasses both corporate finance and personal finance.
These multifaceted job activities include building optimised financial plans to safeguard clients' fiscal well-being, formulating strategic financial blueprints for organisations, and accurately predicting corporate earnings and losses.
Furthermore, finance experts take charge of intricate tasks like orchestrating credit agreements, crafting meticulous financial reports, and collaborating closely with external auditors.
How to start a successful career in finance
To start a successful career in finance, an individual must consider pursuing a bachelor's degree in a discipline such as finance or business. A Bachelor of Finance or Business allows you to specialise in a subject and build a niche.
However, a bachelor's degree in business allows you to build the knowledge required for a career in finance while also gaining knowledge of other aspects of business. An individual interested in building a career can start by obtaining a relevant degree, developing specialised skills, gaining practical experience, and building a professional network, creating a strong resume.
Tips on securing a job in the financial industry
The pathway to a successful career in finance certainly involves work and determination. A finance or business degree is a prerequisite for most jobs in the financial industry, making earning a bachelor’s in business or finance essential.
Securing a job in the financial industry can be highly competitive, but with the right approach and preparation, you can increase your chances of success. Here are some valuable tips for securing your dream job within this fast-growing financial industry:
- Choose your finance career path
Choosing the right career path is a critical step in landing a finance job, and it involves a series of considerations and decisions that can significantly impact your success in the industry.
Assessing your strengths and interests can help you understand the aspect of finance that intrigues you the most. Students or graduates who understand their strengths and interests find it easier to build a career path that aligns with their future objectives.
Finance offers diverse sub-specialisations like investment banking, corporate finance, financial planning, asset management, and risk management. Research these areas to align your skills and career goals effectively.
- Build a strong foundation
Establishing a strong foundation can allow you to build a dynamic career in finance that requires professionals to stay up to date with the latest trends and developments in the field.
Obtaining a relevant educational background is one way to build a strong foundation. Most finance jobs require at least a bachelor's degree in finance, accounting, economics, business, or a related field. Ensure your coursework covers key finance topics like financial analysis, investments, and financial markets.
- Gain practical experience
Gaining practical experience through internships and workshops is probably the best way to gain exposure and experience as a student. Internships offer insights into the finance industry and by pursuing multiple internship opportunities, you can broaden your expertise.
The industry exposure in the early years of your career will help you to understand professional settings and gain clarity on which direction you want to take in your career.
- Develop essential skills
Finance is known for being highly competitive so candidates with strong skill sets are in high demand among employers. The finance industry is poised for significant shifts, making it imperative for professionals to acquire the in-demand skills to stay ahead of the curve.
Finance jobs require analytical skills, interpersonal skills, financial reporting aptitude, financial modelling, business intelligence, cash flow management, mathematical skills, and more. These skills in particular make you a competitive candidate and enable you to excel in your finance career once you secure a position.
- Continue to learn and adapt
Continuous learning and adaptation are vital tips for landing a well-paying finance job as they demonstrate your commitment to staying relevant and valuable in a dynamic industry like finance.
Pursuing a bachelor's degree in business can help you build life-long learning skills essential for a successful career in this dynamic industry. Financial markets evolve, regulations shift, and new technologies emerge meaning employers highly value candidates who can adapt quickly and who are dedicated to continuous learning.
What are the different types of jobs in finance?
Finance is a vast field that encompasses a variety of job roles with different responsibilities. Here are the most prominent and high-paying finance jobs:
- Mutual fund analyst
- Investment banker
- Risk analyst
- Chief financial officer
- Equity research analyst
- Venture capital analyst
- Portfolio manager
- Public accountant
- Budget analyst
- Credit analyst
Careers in finance have certain entry requirements, including earning a bachelor's degree in business or a bachelor's degree in finance. The field presents intense competition among candidates and significant stress levels. However, a career in finance is often considered to be prestigious. Nonetheless, these positions come with various advantages such as a stimulating work environment, collaboration with exceptionally motivated and intelligent peers, prospects for career progression, and lucrative compensation packages.
Pursuing a bachelor’s in business specifically in Ireland offers a multitude of advantages. From high-quality education and industry integration to global opportunities and cultural immersion, Ireland provides a compelling environment for personal and professional growth.
Ireland's vibrant business ecosystem places finance at its core, offering diverse career opportunities within the thriving financial sector, promising fulfilment and substantial rewards. If you are searching for the right institution to earn a bachelor’s degree in business, check out IBAT.
IBAT College Dublin offers an excellent Bachelor of Arts (Honours) in Business that will guide you through innovative study methodologies integral to the field. You will get the specialised knowledge needed to understand, assess, and succeed in the fast-growing business industry.
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FAQs
What is the scope of finance in the future?
The scope of finance in the future remains promising and dynamic, influenced by various factors and trends. Therefore, earning a bachelor's degree in a relevant discipline can prepare you for a range of finance jobs.
The U.S. Bureau of Labor Statistics (BLS) anticipates a 7% growth in employment within the business and finance sector from 2021 to 2031, slightly surpassing the average growth projected for all occupations in the United States.
What is the salary of a finance job?
The average annual salary of a finance job is approximately USD 101,038. Finance jobs in Ireland also pay well with the average annual salary of finance professionals being EUR 45,000 per annum. However, at entry level, graduates can expect an annual salary of around EUR 33,250.
What skills do you need to get a job in finance?
Success in finance hinges on a diverse skill set encompassing data analytics, digital literacy, effective communication, business acumen, and adept budgeting. Technical competencies like financial modelling and data analysis are especially crucial in today's digital landscape. Ongoing skill development is essential through courses, embracing new roles, analysing financial reports, and staying abreast of finance and business trends.
This article is written by Vinisha Prasad