During the Great Recession of December 2007 to June 2009 and its aftermath, many top employers in finance and accounting pulled back from hiring; some even reduced their workforce. Today, however, the economy is recovering, and, according to a recent survey from CareerBuilders and its sister site, MoneyJobs.com, hiring in the finance sector is on the rise and will be one of the largest growth areas in the economy. Businesses are turning to financial professionals to help them rebuild and find new ways to operate profitably. Here are five in-demand finance careers for the coming decade.
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Credit analysts work at banks and financial companies and form an integral part of the finance team. When someone applies for a loan or credit card, a credit analyst collects all relevant data, such as credit reports, bank statements, purchasing habits, assets, payment history, and existing debt. Once the data are evaluated, the credit analyst makes a recommendation regarding the creditworthiness of the customer. A bachelor’s degree in business or finance is required for most credit analyst positions; the average annual salary range is $34,000 to $57,000.
Actuaries are the statistical backbone of the financial industry. Basically, actuaries manage risk by predicting the likelihood an event will occur, developing ways to reduce the probability that loss will happen, and working to minimize the financial impact of a loss. Actuaries are highly skilled specialists; it is not uncommon for experienced actuaries to earn well over $100,000 per year. A career in actuary science starts with an undergraduate degree in finance or economics and subsequent professional certification from the Society of Actuaries.
An auditor is an accounting professional who examines and records a company’s financial statements to ensure they are free of errors and in compliance with any rules and regulations in the client’s industry. Some companies employ internal auditors; others hire a periodic auditor from an experienced accounting firm. Auditors are also frequently employed in all levels of government. An auditor begins his or her career with a degree in accounting and designation as a CPA. Average annual salaries for auditors range from $63,500 to $84,000.
Financial advisors work with individuals to help them assess their financial needs and help them plan for taxes, invest for family needs, and prepare for retirement. Some financial advisors are employed by banks and insurance companies; others are independent advisors and may sell a variety of financial products. This career begins with a bachelor’s degree in business, accounting, or finance. Passing a licensure exam is required to sell investments or manage a client’s portfolio.
A logistician manages a company’s supply chain and storage and transportation of goods. The logistician determines how much inventory a company should keep on hand and looks for ways to minimize costs and improve efficiency associated with procuring supplies. This fast-growing career begins with a bachelor’s degree in business or related field. The median salary in 2013 was $74,800.
Demand for financial professionals is increasing faster than ever. If you’re looking for a rewarding career with potential for growth, finance might be just the field for you.