By : Saurabh Tyagi
The financial services industry is one of the best paymasters on this planet, and this fact is globally accepted. Hence, if your vivid dreams were that of a comfortable lifestyle and a job that could pay for it, then financial services industry is the way to go. Individuals who love number crunching and think analytically are the best fit for careers in finance. There is no lack of job opportunities in this industry; thus, if others are telling you otherwise, then they are mistaken. The only requirement is to have a will of steel and a good skill set for a fulfilling career. The best thing is, not every job in this industry requires you to have a degree, but having one always increases your options. If motivation can help you, then this article will provide you with plenty of it.
What else does make a job in the financial services such a lucrative prospect? Here are five reasons which will encourage you to think about a career in the finance service industry.
The most obvious and the most decisive factor for many during a career selection is the pay it entails. The financial services industry is noted worldwide for its compensation packages, which in a whole, is far generous than what other industries pay.
If you happened to be a graduate with a degree in finance, you will likely make more than $5,000 per year. That’s for an entry level candidate. Even without a degree, a professional can easily make upwards of $10,000, and this is why financial services careers are so advantageous. You don’t have to sweat it out for nine hours. On entry-level, you can get a job as a bookkeeper at a small business and it will be more than enough to pay your bills and lead a comfortable lifestyle. However, having said that, you should not underestimate the value of a finance degree, because it will come into play when you will apply for higher level roles in the executive position. In particular, financial services employees have a better salary package compared with other industry professionals.
Another point that needs special mention is that only you determine your income level. You get to choose how hard you work, the number of hours you want to work and the number of clients you want to work with. Working twice the hours and with twice as many clients is surely going to double your income.
A plethora of options to choose from
Once you have decided finance as your niche, it’s time to get overwhelmed with the number of job opportunities. Every business, every start-up, every large multinational has some kind of financial setup and therefore, you will find finance career in every industry. Some of the most common titles that you will come across in your daily life are bookkeeper, accountant, bank manager, financial consultant, loan officer or manager, credit specialist, stockbroker, hedge fund manager, investment manager and others.
Advancement for the ambitious
While other industries give special attention to seniority while judging the readiness of employees for advancements, financial services tend to put less weight on this. If you are a high performing individual, with only a couple of years of experience under your belt, lots of energy and ambitions, you can give tough competition to other experienced professionals, even when applying for executive roles.
Thus, if you are an ambitious young professional in a hurry to make it big, this industry is for you. Besides, there is nothing tying you down to the same job for the rest of your life. With great performance in a couple of consecutive quarters you can work your way up from an entry-level position to executive level.
The World is Your Playground
A successful professional in the financial services field can view earning opportunity in every adult on this planet. Unless you have plans to only target the most affluent people with net worth of millions, your pool of potential clients is virtually endless and your earning opportunities are unlimited. Every person who has some financial assets needs advice on managing them, and it doesn’t matter if their funds are only $500 or in millions. Those people who want to increase their fortune will require help in insurances, annuities, investments, consolidation services, retirement plans and other financial services. Most people will have a continuing need for those services and so do their families and their children who will soon become adult.
Fast paced careers
Careers in financial services are undoubtedly one of the quickest paced careers mankind has known. The industry places premium on quick-thinking, quick-action and quick-results. While for passive personalities this quick pace of events can be tiring, for those who thrive on challenges this is a boon. You will be required to be exceptionally hardworking, aware, focussed and committed to survive and succeed. For those who do, the rewards are commensurately great.
Saurabh Tyagi is a writer with interests in a lot of domains, but expertise particularly in career and employment niche. This article will prove equally useful to those either thinking of starting their career in the finance industry or applying to high level jobs like VP Finance amongst others. When not writing, he is reading or following social media trends.