Made up of various sectors including banking, insurance, real estate, and consumer finance, the financial services industry plays a crucial role in the national economy. The finance industry is an exciting global industry that is constantly advancing and expanding. There are endless possibilities for a career in finance. The companies are expanding to new exciting areas of the world and with this expansion, comes a high demand for finance professionals. The financial service industry’s sectors are key indicators that provide insight into overall economic strength or weakness.
Employment in the financial sector is expected to increase by 15% between 2022 and 2029 due to the increased demand for financial, cash, and risk management services. As the economy grows, skilled professionals who can plan, direct, and coordinate investments will be increasingly in demand.
How To Advance Your Career In Financial Industry
There some ways to advance your career in financial industry
Earn Bachelor’s Degree
The first step to build your career in the financial service industry is to earn a bachelor’s degree in financial services, accounting, economics, or business administration. This will help individuals gain the knowledge and skills necessary to find long-term success. The skills include :
- Analytical Aptitude
- Communication
- Detail Orientation
- Proficiency in Mathematics
Expand Your Network
Networking is the most important part in advancing your career. Making connections with other professionals is a well-known way to open new career paths. Finding finance-targeted networking events in a specific sector can align an individual with the right contacts and opportunities. Having communication with more finance professionals may open doors for advancement. Also it helps professionals stay up to date on trends and developments in the world of finance.
Additional Education And Certification
Finance is a continuously growing sector. If you want to pursue a career in the finance sector you need to have great skills and knowledge. An advanced degree such as a Master of Business Administration (MBA) or master’s in accounting can give job applicants a significant advantage.
Additional certifications such as Chartered Accountant (CA), Certified Financial Accountant (CFA), Certified Public Accountant (CPA) etc can lead to career advancement.
There are some graduate and undergraduate degree programs that help to prepare for certification programs.
Advanced Financial Services Industry Careers
Financial industry is broad, with numerous opportunities for qualified applicants. Here are some careers in finance.
Commercial Banking
Commercial banks offer a range of financial services to their customers from checking and saving accounts to mortgages and other loans. Job titles include operations manager, branch manager, and loan officer.
Investment Banking
Investment bankers are responsible for finding investors for companies,facilitate initial public offering on the stock market, trade company securities, and advise corporations on investments. Career opportunities include qualitative research analyst, investment banking analyst, and executive director.
Financial Planning
Financial planners work with large groups or small firms to review client goals and ensure future financial stability. They also create saving and investing plans for individual clients. Job titles include personal financial adviser, wealth manager, and personal banker.
Corporate Finance
Professionals in corporate finance work with a company and manage their capital. This can mean forecasting profit and loss, negotiating lines of credit, and preparing financial statements. Individuals working in this area focus on increasing company value while minimising risks. Jobs include financial analyst, treasurer, and internal auditor.
Benefits Of Career In Finance
Career in finance leads you to a number of work and quality of life benefits.
Higher Salary
A finance career offers you a high salary in the industry. As individuals advance in their careers, pay may also increase. Also the salaries depend on the position, sector, and education and experience levels.
Career Diversity
As we know, finance is a broad area. With a finance career, you will never feel limited to one particular position. From corporate finance and financial planning, to investment banking and hedge funds, to insurance and public accounting, the financial services industry offers a diverse range of career paths. As the career grows you can find increased options. Earning higher education or certification can open new paths, often with the opportunity to switch organisations and sectors.
Also if you are looking for a career with progression, you might consider the finance profession. The growth opportunities are endless.
Job Satisfaction
Finance profession is the best option for those who are in love with numbers. As finance professionals advance, they enjoy increased responsibility and independence, which are linked with employee satisfaction. The jobs are exciting, challenging, and fast paced.
Growth in finance professionals is also beneficial for the financial industry. With an increasing number of growing businesses in India the Indian companies go global. So the opportunities are also global and vast. There are many platforms that help you to find the best career for you. SpotGiraffe is one of the job portals which provide accounting and finance jobs. You can find your dream job globally.
