Is a career in finance a good fit for you? This is a popular choice for people seeking a line of work where there are plenty of opportunities to progress.
But before you jump in, consider what it takes to succeed in this area.
If you are the type of person who has a natural flair for numbers and take an active interest in how the financial markets are performing, these are two personality traits which could point to a career in finance working out for you.
To be able to make an informed decision and find the area of finance where you should focus your attention, you will first need to understand the various ins and outs of a particular job and what demands it will make of you, as well as having the right qualifications to apply with confidence.
Mapping out a career path
By working out where your career in finance could take you and the likely opportunities that you can be expected to encounter if you demonstrate a talent for the work involved, it is possible to map out a career path.
If you get trained in financial modeling and metrics through online courses at simplilearn.com for example, this could open a number of doors that could easily see you progress up the corporate ladder through adding some key attributes to your resume.
As a general rule, graduates with a finance major will often be able to command a management role at a number of different levels of financial careers, spanning across business, industry and government or public corporations.
The sort of career path that you may be able to follow will entail taking a position in specific areas of the finance sector, such as corporate finance, risk management, financial planning and insurance, amongst others.
These are quite diverse subjects under the general banner of finance, so you definitely need to take a look at what these positions involve and the specific attributes that the work demands, so that you can narrow down your choice and find the best fit for your skills and preferences.
Demand for jobs
Although financial reward is always going to be an important factor, graduates looking to enter the world of finance also need to consider using their recently acquired degree to the best possible advantage, as the money will often take care of itself if you choose the right niche.
As you will already have seen, the finance industry is most definitely multifaceted and there are a plethora of career options to consider, all of which require a variety of different skillsets and interests.
The wealth of opportunities and the sheer variety of potential jobs to pursue is encouraging in one respect, but this is also a compelling reason why you need to narrow down your choices, so that you can focus your attention on a financial job which is best suited to your particular skills and attributes.
You should be prepared to commit some time to researching and identifying the type of jobs that are best suited to you and your qualifications, so that you can channel your energy into landing a job where you know you are likely to perform well.
If you are excited by the prospect of providing complex financial solutions for wealthy investors and corporate clients, it is feasible to suggest that a career in investment banking would be a suitable career path.
Although this is an area of finance which is viewed as prestigious and glamorous, there is also little doubt that this can be one of the most intense and stressful roles that you could take on, so you need to decide if you have the motivation and total work ethic that investment banking can sometimes demand of you.
Obviously a graduate is going to have to work their way up to a position of authority and standing by proving their ability to find creative financial solutions, but talented professionals can definitely enjoy a successful and prosperous career if they turn out to be made for a career in investment banking.
Another area of finance that you might want to consider is private equity and venture capital.
The purpose of a private-equity professional is to guide businesses in finding the necessary financial capital that they need to be able to fund their expansion and investment plans. You may also be called upon to provide the financing needed to complete a business transaction or something a bit more complex like a managed buyout or organizing a financial restructuring of the business.
You need to have the type of personality for this work that allows you to function under extreme stress at times, especially if the success of your efforts to raise the finance will be a determining factor in the survival or failure of a business.
A different area of finance where you will be required to help private individuals to develop and achieve their financial goals is financial planning.
Working as a financial planner involves having the required knowledge and skills to be able to direct your clients on what they need to do in order to enjoy wealth preservation as well as finding ways to accomplish the level of financial growth they need to meet their retirement goals and other important financial milestones.
The majority of financial planners tend to work for either a large national business or alternatively, carve out a successful career by serving local clients through working for a locally based firm.
Another popular sector for pursuing a financial career is in the insurance industry.
Working within insurance will often involve helping individuals or businesses to successfully anticipate any potential risks that they need to address and protect against losses.
This is just one aspect of insurance and you could use your mathematical prowess to work as an actuary for example, so you need to do your research in order to establish first of all that this is a sector that interests you and secondly, that you would like to pursue a career around insurance.
These are just some of the sectors to consider, so try to work out which type of financial career you are most suited to and whether a career in finance would suit you.
Siva Kumar is a growth hacker, blogger, social media marketer, content strategist and content manager for Simplilearn. He enjoys sharing his research and ideas online.