{"id":3985,"date":"2024-10-14T10:59:56","date_gmt":"2024-10-14T05:29:56","guid":{"rendered":"https:\/\/www.thewallstreetschool.com\/blog\/?p=3985"},"modified":"2024-10-14T10:59:56","modified_gmt":"2024-10-14T05:29:56","slug":"finance-industry-a-potential-career-path","status":"publish","type":"post","link":"https:\/\/www.thewallstreetschool.com\/stg-new\/finance-industry-a-potential-career-path\/","title":{"rendered":"Finance Industry – A Potential Career Path"},"content":{"rendered":"

History has witnessed a great surge in the demand for finance jobs. It is mainly because of its high paying job opportunities and it welcomes professionals from all the streams. This also means that it is highly competitive and difficult to crack in the industry but it is possible.\u00a0<\/span><\/p>\n

This article aims to answer all that you need to know about a potential career path in the finance industry. It is a beginner guide to knowing what you need to make a career in finance.\u00a0<\/span><\/p>\n

Is Career in Finance a right option for you?\u00a0<\/b><\/p>\n

Before making a decision to take up a course in finance, it is important to know if it is the right career path for you or not. This industry requires the professionals to have an analytical mindset, strong communication and good with numbers. Contrary to one\u2019s belief, this industry offers roles beyond trading on the stock exchange floor. Many positions include dealing with shareholders, clients for investments and forecasting financial data for budgeting and planning.\u00a0<\/span><\/p>\n

Those who have a background in the tech industry, have a comparatively better edge over professionals in other industries. This is because of their proficiency in coding languages and their comfort with numbers, which equips them with strong analytical and problem-solving skills. It allows them to navigate complex data sets, automate processes, and develop innovative solutions that drive efficiency and innovation across various sectors. So if you are from the tech industry, you can maximise your return by switching to finance positions.\u00a0<\/span><\/p>\n

Potential Career paths<\/b><\/p>\n

Finance professionals work across various organisations and industries including financial institutions, corporations and government entities. Glassdoor specifies average salaries of different positions in the finance industry. However, it is to be noted that these figures can vary depending upon the location, organisations and many other factors. Some major opportunities in this industry are:<\/span><\/p>\n

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  1. Corporate Analyst: has various roles including budgeting planning, preparing financial performance reports, assessing financial risks and cash flows for corporations.\u00a0<\/span><\/li>\n<\/ol>\n

    Annual Salary –<\/b> \u20b94L\u2013\u20b910 lakhs<\/span><\/p>\n

      \n
    1. Investment Banking Analyst: it involves dealing with either buy or sell side of investment banking, researching business and economy, and making investment recommendations.\u00a0<\/span><\/li>\n<\/ol>\n

      Annual Salary –<\/b> \u20b9<\/span> 6- 12 lakhs<\/span><\/p>\n

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      1. Underwriters and Loan officers: involves reviewing insurance or mortgage applications and assessing the related mortgage.<\/span><\/li>\n<\/ol>\n

        Annual Salary –<\/b> \u20b9572,031 on average<\/span><\/p>\n

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        1. Financial Planner\/ Advisor: helps their clients with tax planning, <\/span>estate planning, investments, mortgages and other monetary concerns.<\/span><\/li>\n<\/ol>\n

          Annual Salary –<\/b> \u20b9400,000 on average<\/span><\/p>\n

          What is the biggest myth about Finance ?<\/b><\/p>\n

          Most people confuse finance with other business fields like accounting or economics. This is not true; finance involves study or art managing money and how individuals, corporations and government entities acquire, use and invest their money. While the knowledge of accounting and economics are instrumental in this field, it is entirely different from it. Accounting professionals are involved in keeping the companies and their stakeholders in check of the financial statements. Economists help the policymakers and guide in the area of consumption and transfer of wealth.<\/span><\/p>\n

          Why do you want to study finance?<\/b><\/p>\n

          A career in finance is something worth considering given its high paying and stable job opportunities. Another reason to take up a finance course is that the scope of advancement in this field is exponential which leads to increased pay. In 2022, BLS reported the average annual salary of personal financial planners to be $95,390 – this is nearly double the average salary of nationwide occupations in the US.\u00a0<\/span><\/p>\n

          Examining the emerging markets like India, the financial sector has been growing tremendously. It is estimated that with a growing population and economy, jobs such as financial analysts and personal finance advisors will be in great demand.\u00a0<\/span><\/p>\n

          But before jumping in and deciding to pursue a career in finance, consider asking yourself some questions will help you gain deeper insights such as:<\/span><\/p>\n