The language of business is often considered finance management. Modern-day commerce depends heavily on this age-old field. All organizations need people who are adept at understanding numbers and who can understand where they stand.
Postgraduate business students are often drawn to finance as a study area. As of 2018, the Graduate Management Admissions Council (GMAC) reports 23 percent of potential students would consider pursuing a master's degree in finance.
Two fields are on the minds of many finance graduates: banking and accounting. It's no wonder why banking and accounting remain so popular, with great salaries and great career opportunities.
The truth is there are many other jobs suited for those with finance qualifications. Read on to see what career options you should consider, whether you earned an undergraduate or master's degree in finance or an MBA with a finance focus. Which are?
1. Trader/Stockbroker
Trading stocks is either a business or a profession carried out by someone working for themselves.
Those with a bold, dynamic personality are best suited to careers in trading, which are fast-paced and high-pressure.
Most foreign markets open early in the morning, leading to very long hours.
A career in trading is ideal if you're an independent, self-driven individual.
The environment is cutthroat, but it offers very high rewards for successful traders.
In the United States, the average trader salary is US$95,126 per year. According to Indeed.com, salaries can reach as much as US$196,917.
2. CFO/Financial Manager
Providing financial guidance and support to clients and colleagues is the job of a financial manager or CFO (Chief Financial Officer). Private as well as public sector employers employ a wide range of these workers.
Smaller businesses may rely more on collection and account preparation, while larger companies may focus on strategic analysis.
Additionally, funding resources can be arranged and checks carried out annually with auditors by managing budgets.
Those positions require progression within a company because financial managers and CFOs are senior roles.
Tracy, a financial management assignment help, informs, "A financial manager in the US can earn a salary of up to US$84,109, according to Indeed.com, which reports salaries up to $208,000annually."
3. Financial Analyst
A financial analyst can work for an individual, a corporation, a non-profit, or the government to analyze financial data to help guide investment decisions.
It is important to stay abreast of market trends and investment opportunities within your specialization to recommend the best course of action.
Finance graduates who are computer-fluent and have a solid understanding of data will find a career as a financial analyst appealing.
The role of an analyst can be related to credit analysis and budget analysis, says Kaitlyn, a financial management assignment help expert.
The median salary for financial analysts was reported by US News to be US$84,300 in 2017, with the top 25 percent earning US$114,980 that year.
4. Actuary
Risk evaluation, management, and advice are the jobs of actuaries. Financial and statistical theories determine the probabilities and potential costs of an event. The demand for their services is often high since they are highly skilled.
The knowledge gained from this will enable them to create creative ways to decrease the likelihood of undesirable events occurring and decrease the impact of undesirable events.
Actuaries specialize in studying uncertain future events but can be hired by any company, including insurance and pension plans.
Overtime is common at this job, as pressure is high.
In the United States, the average actuary salary is US$112,085 per year, though salaries of US$240,000 have been reported as well.
The Bottom Line
These positions provide access to financial information for an organization, and information drives today's economy. These finance forces are often called upon to move beyond bookkeeping and occupy seats on company boards to aid in making strategic decisions.
A forensic accountant uses their expertise to uncover fraud, while others direct and develop accounting information systems. Finance degrees offer a wide array of career opportunities.
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