Finding your ideal job in the world of finance can be a challenge. To put this into perspective, in 2018 alone, there were a reported 1.1 million individuals employed in the UK’s financial sector.
With so much competition, it can be difficult to know where to begin in your search for the right job in finance. Furthermore, the financial sector is so diverse that you might not know what sort of position you would like to work in.
Here is a brief guide to help you learn a little bit more about the world of finance so that you can understand exactly where you might fit in.
The Key Areas of Finance
There are a lot of options to look into when trying to figure out what area of finance you’d like to work in. A few of the more popular areas are:
- Accounting
- Banking
- Financial Planning
- Investment
As an accountant, you could work with companies of all shapes and in various industries. You would be employed in helping to manage the business’ accounts and finances. Or you could work with high net worth individuals helping them reduce their taxes and manage their money.
If you choose to go down the banking route, you would primarily be focusing on products like loans, insurance, and mortgages for private individuals as well as businesses.
Financial planners work as advisers helping either individuals or companies to plan their finances. You would be assisting those who wish to invest and diversify their financial assets. Investment banking is different from financial planning in that investment bankers also deal with the trading and stockbroking aspects of finance. They also perform according to market trends with the hopes of helping clients make solid investments.
Earning Potential
It’s no secret that one of the draws to working in finance is the potential for earning a great wage over the course of a career. This can vary depending on the area of finance you decide to go into, of course.
Financial analysts can make big bucks, and their salary tends to increase with experience and the number of clients they handle. With numbers like that, it’s no surprise that financial adviser jobs are so appealing to such a large number of people.
Working in accounting can also prove extremely lucrative. In the UK, accountants make an average of £62,042 a year. With plenty of room for career progression, that number could end up being on the higher end of £65,000 per year.
Landing the Job
Once you have done your research and have decided on the area of finance you want to work in, you have to figure out the prerequisites that your dream job requires. The good news is that not all jobs in finance involve too much in the way of qualifications.
For the most part, a bachelor’s degree in finance can go a long way. In many cases, it is actually more significant to gain actual experience by way of internships. In fact, here are a few reasons why an internship in finance might just be the way to get started in the career of your dreams.
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