Top 7 careers in finance |
Posted: July 2, 2020 |
Careers in finance can be highly stimulating, fulfilling, and satisfying in today’s dynamic world. Individuals who plan to pursue a career in finance may be interested to learn which career opportunities are available there. However, it is challenging to make the right career choice from various functional areas of finance. The different skill sets may be required following the nature of a specific role. It’s important to take your preferences and abilities into account, as you distinguish the type of work you would like and enjoy. Let’s take a look at the different functional areas within the broad category of finance. Career Opportunities in FinanceCommercial BanksCommercial banks are financial institutions that accept the general public’s deposits and provide investment loans with the aim of earning profit. The two most distinctive features of commercial banks are borrowing and lending. Growth opportunities in commercial banking are strong, with reasonably better payroll packages for higher or more skilled professionals. Jobs for commercial bank managers differ according to the sector, experience, bank size, and marketplace. Careers in finance available for Commercial Banking Managers include:
Investment banksInvestment banks act as intermediaries between investors and corporations. They offer various financial services, from checking and savings accounts to individual retirement accounts and loans. They also facilitate the new issuance of corporate securities and bring them to the market available for purchases. This is one of the best career choices with significant pay packages and sufficient incentives. Careers in finance available for investment Bankers include:
Corporate financeCorporate finance is the acquisition and allocation of corporate funds or resources, with the aim of maximizing shareholder wealth. The practices of corporate finance range from capital investment to investment banking. The main objective of corporate finance is the planning and execution of various strategies to optimize the value of a company. The task of the corporate finance professional is to assist the company in arranging funds for the project, the growth of the organization, efficient cash management and the preparation of a future financial plan for the company. A corporate finance professional has multiple career paths:
Financial planningFinancial planning is the task to assess how an organization will meet its strategic objectives. Each of the activities, resources, equipment, and materials necessary to achieve those objectives and the time frames are described in the Financial Plan. Financial planners’ salaries depending on the institution where they work, areas of expertise, certifications, and degrees. The major job responsibilities of financial planners are:
Wealth managementWealth management combines both financial planning and specialized financial services with the ultimate goal to sustain and enhance the wealth in the long term. A wealth manager offers a combination of service that includes financial advice, tax planning, estate planning, and investment management services. Salaries and other incentives are among the highest in this sector, with the continuing rise in demand for professional wealth managers. Wealth management career paths include:
Equity ResearchEquity research refers to the analysis of the fundamental principles of a company, analysis of financial statements, financial modeling and the setting up of equity recommendations scenarios. The principal objective of equity research is to provide investors with detailed financial analysis and recommendations on whether to buy, hold, or sell a particular investment. Professionals in equity research are responsible for creating analysis, provide recommendations, and investment opportunity reports. This is one of the most valuable professions in finance that requires a comprehensive knowledge of financial principles and a high degree of ethics to perform professional duties. Risk managementRisk management is a method to identify, evaluate, and control threats to the organization’s capital and profits. It aims to protect and sustain the future of an enterprise on a long-term basis. Risk management is a broad field with many possible career paths:
Professionals in risk management are offered a decent salary with other incentives as well. However, you’ll likely start your career as a risk assistant or risk analyst initially.
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