If you’re not afraid of dealing with numbers, a finance major might be the first step toward a successful business career.
It’s possible to land leadership roles, self-employment prospects, and professions that need extensive customer engagement with a finance degree.
You’ll also be able to spend most of your time researching investment markets and financial records in these positions.
Financial analysts, personal financial advisors, financial examiners, and financial managers are among the most sought-after positions in the field.
Analyst in Finance
According to the United States Bureau of Labor Statistics (BLS), the number of positions for financial analysts is expected to expand at a faster-than-average 11 percent over the next decade, creating an additional 32,200 jobs.
You could get the idea of what financial analysts do from their title, but you might be surprised to learn that they focus on investing exclusively.
For this reason, they’re called investment analysts or securities analysts since they assist people and businesses make smart investment decisions.
Some of the most popular employers of financial analysts are banks, mutual funds, pension funds, insurance companies, and securities companies.
Investors in securities and commodities make up a significant portion of the financial analyst workforce.
Financial analysts work in a variety of industries, including professional, scientific, and technological services, credit intermediation, management, and insurance companies.
30 percent of financial analysts say they work more than 40 hours a week, according to the Bureau of Labor Statistics.
Consultant in Personal Finance
It’s possible to combine your love of researching investment prospects with your desire to assist people in the financial industry by becoming a personal financial adviser.
These financial advisors visit with clients and assist them to prepare for their financial futures.
As a personal financial adviser, you will have a greater impact on your clients’ lives because the financial subjects you are counseling them on including not only investments but also college and retirement savings, as well as life milestones such as marriage, purchasing a home, and having children.
An average personal financial advisor makes $90,640 per year according to the BLS. Self-employment as a personal financial counselor is a great option for many people. A quarter of all personal financial counselors in the United States are self-employed.
Examiner of Finances
A financial examiner’s job is a little more unique than others in the banking industry. According to the Bureau of Labor Statistics (BLS), this financial career employs just 52,500 American workers.
While most professions in finance are concerned with producing money through investments and other financial maneuvers that are profitable, financial examiners are more concerned with whether or not a company is in compliance with the law.
The credit intermediation business employs a third of all financial examiners, while the federal and state governments employ the remaining two-thirds of those individuals.
Overall, financial examiners make $81,690 per year on average, but the BLS estimates that federal financial examiners make $118,040 per year on average, which is significantly more.
Jobs in Management in Finance
Financial management positions come in a wide variety of formats. Controllers are in charge of managing the creation of financial papers like income statements and balance sheets that reflect the financial health of a firm.
Finance officers and treasurers oversee the proper utilization of budgets in order to meet the financial objectives of their companies, as well as the development of strategies that aid expansion, acquisition, and merger activities.
A company’s credit is monitored by credit managers, while the company’s cash flow is monitored by case managers. It is the objective of risk managers and insurance executives to keep the company safe from potential threats.
A company’s top financial manager, the chief financial officer (CFO), oversees and sets the big-picture financial plans and direction of the corporation.
As the BLS points out, all of these financial management positions have one thing in common. They are responsible for ensuring that the company’s financial health and stability are maintained.
Financial managers, on average, make $125,080 a year. In contrast, CFOs belong to the group of CEOs, whose typical annual compensation is $183,270.