5 Careers in Finance You Need to Know About
Healthcare is commonly hailed as the industry with the best job prospects, but that’s not giving proper credit to the financial sector. The economy is slowly growing, and so is the number of available finance positions. This is primarily the result of small businesses expanding and requiring more manpower. If you want a good salary, great benefits, job flexibility, and other perks, here are five careers in finance to look into.
1. Loan Officer
Determining whether someone has acceptable credit and pairing him or her with appropriate loan options is an important job, and one that requires either financial, banking or sales knowledge. With salaries coming in at an average of between $55,000 and $60,000, loan officers enjoy the benefits of a unique line of work and use their financial backgrounds to help people get the loans they can afford.
The job of an actuary involves doing complex statistical analyses to predict the risks associated with important financial decisions. Actuaries forecast the possible consequences of particular actions to help executives make big decisions. Since the job requires excellent math skills and a high degree of meticulousness, actuaries are paid handsomely for their efforts. Average salaries hover around $100,000.
3. Financial Analyst
These finance experts help corporate leaders make smart financial decisions. They have in-depth knowledge of money, markets, and investments and usually work for consulting firms. With a post-graduate degree and several years of experience, financial analysts may earn upwards of $70,000 per year.
4. Budget Analyst
If you’re good at managing money and analyzing trends, getting hired as a Budget Analyst could be a rewarding and lucrative career. In addition to budgeting for annual spending, analysts may also assess and allocate current resources and develop spending goals. The knowledge and ability to estimate future financial requirements makes budget analysts extremely important to their organizations, allowing for job security and compensation of between $55,000 and $68,000 per year.
5. Personal Financial Advisor
It’s not just corporations that need help with money matters. Individuals who are uncertain of how to manage their money, aren’t aware of the fine print of legal contracts, ignorant of insurance and tax details, or don’t know how to approach particular investments may seek out the expertise of a personal financial advisor. In exchange for their advice, personal financial advisors are paid more than $65,000 per year, on average.
A bachelor’s degree in a business-related field is required for most finance professions. If you’re interested in one of the finance careers above but don’t already have the formal education, consider getting an online finance degree. Visit businessdegrees.uab.edu for more information!