In the contemporary world, the job market has become extremely competitive. Securing a job is like finding a needle in a haystack. Recruiters receive plenty of applications for a single post; naturally, they cheery-pick from the candidates. The outbreak of COVID-19 has slowed down the world’s economy, further worsening the job market.
Students of today’s age understand that they have to fight with tooth and nail to claim their space in the corporate world, and thus they need to have a strong set of skills and professional education. Once students finish their high-school education, they have to take the big decision of choosing a major. They find themselves in a predicament as there are many degree options but very fewer jobs. Securing a job largely depends on the subject a person chooses, as most of the time, they make a career in the same field. Among other factors, job prospects are a significant reason they choose to enroll in a specific field. Moreover, they want to have a degree that has global value.
The cutthroat competition in the corporate world has made students more conscious about choosing a major. They consider their passion and weigh their pros and cons before narrowing down on any subject. Many of them often question why major in accounting would be a safe choice.
The answer is financing has always been a fascinating field, and every year it employs millions of job seekers. The field is expansive, as it encompasses numerous sub-fields. The finance industry is a vast sector, and many companies and firms come under its umbrella. Besides, the financial sector continues to evolve and bring out new departments and have some lucrative jobs for competent people worldwide.
The following are some highly paid jobs for finance candidates:
1. FINANCIAL MANAGER
Financial managers wear many hats and bear several responsibilities, including developing financial goals, preparing a financial report, and overseeing an organization’s investments. They need to have a robust set of skills and have a good insight into financial matters. The in-depth insight comes with experience, while a professional degree helps them broaden their academic knowledge. Moreover, written and verbal communication skills are a must for such a substantial designation. Financial managers’ job is indeed stressful as they have to defend capital investments to colleagues, boards, and executives of the company. Financial managers need to stay abreast of the latest happenings.
2. FINANCIAL PLANNING ANALYST
Financial planning analysts, which are commonly referred to as FP&A, are the professionals in charge of an organization’s profit and loss statement. In light of their experience, knowledge, and skills, they forecast the financial matters, and the organization takes future major decisions on their predictions. They analyze business results and the organization’s performance and explore other options that can improve its efficiency. Financial planning analysts draw handsome salaries for their services.
3. PERSONAL FINANCIAL ADVISOR
As the name implies, a personal financial advisor works for individuals and assesses their financial conditions. Personal financial advisor assists in taking financial decisions like investment, stocks, property, or retirement plans. Advisors listen to their clients and come up with plans as per clients’ short-term and long-term goals. They also serve as educators and educate clients about their financial affairs. Their main job is to devise a plan, which will help individuals meet goals and aid in moving forward financially. Personal financial advisors are competent, have sharp eyes, and a comprehensive understanding of financial matters.
4. INVESTMENT BANKER
An investment bankers’ job is similar to financial advisors. They work with young companies who aspire to go huge, big organizations looking for merging and acquisitions, and established enterprises that plan to expand their business further. They are the link between stakeholders, and their job is to devise win-win strategies. Powerful social skills are essential for investment bankers as they have to convince companies to invest their hard-earned money as per their suggestions. Investment bankers are financing degree holders who earn whooping money.
5. INSURANCE UNDERWRITER
Insurance companies, the significant component of the financial industry, hire insurance underwriters, typically working on a desk. The job of an insurance underwriter requires detailing, precision, and analytical skills. They review new and renew applications of clients and determine if a candidate is worth the risk. Computer programs are their best friend as they help analyze candidates’ financial situation, which is an essential factor for their job. Insurance underwriter needs to be tech-savvy and stay updated with the ongoing developments in technology.
Statisticians can land a job in any industry, such as the health sector, education, sports, or textile. A statistician works with numbers and statistics to gather, assess, and summarize information to produce reports in a firm. The industries use statisticians’ findings for justifying investments in font of board members. Statisticians organize data, check for any discrepancy, and help in budgeting for an organization.
7. SENIOR ACCOUNTANT
Senior accountants’ tasks include the preparation and analysis of a company’s records. Administrative jobs are not their responsibility as they have to look into grave areas like reporting costs, productivity, and expenditures of a firm. They use their expertise to analyze financial records and solve critical financial issues. Senior accountants train junior accountants and document internal controls while working alongside auditors. They often work on tight deadlines, and discipline is the key skill to serve as a senior accountant. Senior accountants are one of the highly paid employees in any organization.
Finance technology keeps on evolving, and the finance sector continues to grow. Finance degree holders have the edge over other subject degree holders. All industries require finance professionals in their organizations. Finance degrees give academic knowledge and help students gain skills that help them in the corporate world. People dream of having a stable career, and obtaining a degree in finance raises your chances of landing a lucrative job.