In this article, you will find all the reasons you should consider pursuing a career in Finance.
Is traditional Finance dying? A question that has been making rounds ever since the technological revolution of the 21st century has introduced us to the fields of data science, artificial intelligence (AI), and machine learning. Despite being a valuable aspect of almost every business, and the advent of fintech, many students consider it a dormant field. However, experts in the field beg to differ.
A career in Finance is not only financially rewarding, but it also has more significant career growth opportunities than a lot of other fields. Once you get a degree in Finance, or a relevant field, through accredited certifications, work experience, or even a higher-level education, there is still hope for branching out. In this article, you will find all the reasons you should consider pursuing a career in Finance.
A fast-paced industry
Industry growth is a primary factor in deciding why you should opt for a particular career. Finance is one of those few fast-paced and dynamic industries that are ever-evolving. The industry is consistently growing and changing to meet the diverse demands of businesses and adapt to a business climate like no other. Specifically, ever since the COVID-19 pandemic occurred, many industries like healthcare and education have changed to suit the needs of their consumers better. The same goes for Finance.
Whether it is the integration of AI with Finance to transform businesses, the emergence of blockchain and cryptocurrency, or the use of data science for improved analysis, Finance has evolved as an industry and will continue to do so.
Flexibility to learn and grow
Since the industry is evolving, there is room for growing and improving individual skills. Someone who is already part of the industry, whether as an accountant or a financial analyst, can upskill quickly and change the course of their career. Everyone dreams of moving up from their current level of employment to something like a CFA or CMA’s role, but these changes don’t happen overnight. A lot of test prep, experience, and effort is required if a simple financial accountant intends to become a CFA or CMA one day.
Even then, the finance industry is very accommodating and supportive of changes, and there is always room for growth.
Lucrative job opportunities
Given the high demand for a finance career, most finance jobs, specifically C-level, offer high money-making potential. As a result, many finance jobs pay more for their entry-level positions than other sectors or industries would offer for intermediate positions. Moreover, a lot of finance jobs involve commission-based opportunities as well. Apart from the base salary, commissions are based on employer KPIs.
An exhilarating experience
The finance industry runs at a breakneck pace, and with lots to learn and get experience from, it provides that perfect amount of adrenaline rush that makes one stay on their toes! There are so many challenges and risks involved within each role that you would surely enjoy working in this dynamic yet thrilling field. No matter what your role is, critical thinking and problem-solving skills would keep you hooked on the constantly changing dynamics of this field.
Since Finance is involved in every business and sector, countless employment opportunities are available worldwide. Of course, certain factors like the state of the economy, technological revolution in the country of employment, etc., do matter. Still, overall, it isn’t difficult to find a finance job no matter where you are in the world.
Due to the nature of this industry, jobs are impossible to become obsolete. So even if your qualifications or skillset don’t meet the job you’re willing to shift to, you can always upskill and land the position of your dreams.
Apart from the possibility of greater job availability, the finance sector also offers a high sense of job security. Resting assured and feeling secure that your job is here to stay or that your skills won’t become obsolete is a great relief.
Although it is constantly evolving, there will always be finance jobs available. Even when the evolution of machine learning, AI, and fintech might be threatening to take up traditional financial roles previously played by humans, there is still very little chance of these roles being completely or even majorly replaced by technology.
Lastly, one of the most attractive features of a career in Finance is the work-life balance. The pandemic has introduced us to remote work options, which have been integrated into the finance sector. Specifically, those working on a freelance or project basis get to design their work routine on their own. Not only is this better for productivity, but it dramatically impacts the health of the individual.
The finance sector isn’t particularly easy to enter, but if you’re determined to work hard, take the necessary risks, and attain the required qualification, you’re bound to succeed. The long-term success that comes from a finance career is worth the initial grind, whether it is in the form of a high-paying job, working at a prestigious organization, or a blend of exciting work and lifestyle.