Is a Career in Finance Right for You?

Deciding on what type of career you should focus on can be stressful. While some people seem to be born with an idea of what they want to do, most people struggle. Different people have different priorities. While some want to focus on having the potential for high earnings, others would prefer to have job stability. The things you want in a career often change as your life changes as well. When you are fresh out of college, a job that is high stress and requires a lot of hours may be exciting and allow you to learn. As you get older, this type of work may lose its appeal.

One thing to keep in mind when you are weighing your career options is that nothing has to last forever. In past decades it was common for someone to take a job and work their way up in that company throughout their career. Today, it is much more common to not only jump from employer to employer but even to transition into a different career. Knowing that your decision today is not something you are stuck with forever can make it easier to commit to one path. Selecting a major that allows you flexibility in careers ensures that you will have a way to transition into a new career down the line.

Choosing a Career in Finance

If you are interested in a financial services career, whether it is working directly with clients on managing investments, or on the business side, you can expect a wide range of career options. Investment banking, brokerages, and many other banks and financial services companies have a great need for smart, eager to learn applicants. The field can be competitive, but there is a reason for this. Financial services work is well compensated. Even at the entry-level, the jobs pay more than traditional entry-level positions.

Landing a Job

This is not a field that employs people without a college degree. Applicants who major in math, economics, or a similar choice will stand out in the sea of resumes. You can take out private student loans to pay for this degree. Lenders are generous with borrowing limits, which allows you to focus on your education. Help boost your resume after graduation by taking at least one internship while you are in school.

Working in Finance

While it can be a challenge to land that first job in the financial field, you will find it much easier to move up the career ladder. There are many different types of jobs available for anyone hoping to work in the field. If you find that your first job isn’t the best fit, transitioning into a new position at your existing company allows you to explore other options. Some common positions available for new graduates include working as an investment banking analyst, financial analyst, and financial auditor. In any entry-level finance position, you will be responsible for performing research, producing reports, and often, developing forecast models. The first few years in your career will give you a good overview of the many positions available in the world of finance. That allows you to make a decision on what you find most interesting and how you want to direct your career.