What Can You Do With An Education In Finance?

As an incredibly versatile field, a degree in finance lets graduates work in many different capacities. Whatever your passions or interests are, there's probably a finance-related job out there suitable for you.

Experts are predicting the availability of 1.3 million jobs in the finance sector. You can become eligible to get these jobs by bolstering your financial acumen. An education in finance provides many valuable skills that employers are looking for, such as critical thinking, problem-solving, and financial analysis. Having this skill set will give you an edge when competing for jobs and make you more marketable when looking for a career change. You can pick any of the following jobs after getting your degree:

1. Auditor

Auditors earn around $77,000 a year. They ensure a company's financial documents are organized and properly accounted for; their job responsibilities include checking/explaining accounting records to look for disparities. In short, an auditor ensures their employer's compliance with the law.

Many finance degree-holders choose to become auditors/accountants; it is one of the most popular jobs for graduates in this field. With the rise of distance learning, finance enthusiasts can easily pursue a remote education in finance to hone their auditing skills. You, too, can consider advancing your know-how in finance remotely and pursuing an online bachelor's degree in finance. This degree can prepare you for a career in auditing and other vocations mentioned in this blog.

2. Management consultant

As one of the highest-paid financial professionals ($93,000 annually), these management consultants detect and resolve the problems affecting an organization's overall performance. Their financial expertise creates business value, maximizes business expansion, and engages employees for better productivity. As a management consultant, you'll serve as an all-in-one solution to business productivity issues in your employer's organization or offer advice to clients. Analytical know-how is what makes an individual an excellent financial consultant. It means you will find data-based ways to boost business productivity and find optimized methods to do things.

3. Actuary

Long gone are the days when business owners employed gut feelings to make decisions and establish new policies. Today, entrepreneurs rely on DDDM (data-driven decision-making) and have to assess the impact of their financial decisions. Actuaries are the people best suited for these mathematical evaluations. They'll use their analytical skills to predict and manage financial risk without employing any guesswork, and they also calculate the probability of certain events and how to minimize risks to get better outcomes from financial decision-making. The job pays more than $100,000 annually.

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4. Financial manager

Surveys show that cash flow problems are one of the major reasons why most startups fail. This means entrepreneurs must keep their companies financially healthy to avoid business collapse, and the CFO (or the financial manager) is the person they bring in to fulfill this job role. As a financial manager, you'll use your analytical skills to meet the long-term financial objectives of the organization. This job pays over $131,000 a year on average. Job responsibilities involve collecting data, crunching it for information, presenting it in easy-to-read reports, and implementing solutions for cash flow problems.

5. Insurance agent

You can become an insurance agent and sell insurance policies to different clients as per their needs and circumstances. Earning somewhere between $54,000 and $56,000 annually a year, an insurance agent negotiates health and property insurance policies to protect clients from life-threatening matters as well as secure the future of their families. When people need protection from the aftermaths of any untoward accidents, they come to professional insurance agents to get a proper coverage plan.

6. Venture capitalist

It's estimated that 305 million startups are established globally every year. With the gradual growth in entrepreneurship, deciding which business is worth the money can be risky for a budding entrepreneur. But here come venture capitalists with their financial expertise to give you the right investment advice. With their financial background, venture capitalists determine which startups will become successful in the future. As a venture capitalist, you will invest in startups for a portion of their profits. Your analytical and money-managing expertise as a venture capitalist lets you discover any newborn company with high-growth potential. You invest in businesses that may be worth millions soon.

7. Personal financial advisor

Since only 57% of Americans are financially literate, it's no wonder even individuals sometimes need a financial consultant's assistance to ensure their books are correct. Earning over $70,000 annually, personal financial advisors advise their clients on different financial matters. As boomers reach retirement age, they need help from professionals in financial planning, for instance, managing their retirement accounts and determining where to invest their money. You can offer them these services by becoming a personal financial advisor.

8. Real estate agent

Real estate has always been a popular career choice among finance grads because of its growth potential. A degree in finance can get your real estate career off the ground. Your know-how about commercial properties will help you explore profitable investments on behalf of your clients. You may look for a domicile for a family seeking to move out to another state or search for suitable office locations for a company deciding to expand nationwide. Earning a base pay of $48,000 a year on average and additional commissions, real estate agents in the United States are some of the most in-demand financial experts right now.

Conclusion

Graduates with a degree in finance can pursue career paths such as investment banking, corporate finance, financial planning, risk management, and other professions. With a solid foundation in financial principles and knowledge of financial markets, this education can help you excel in various roles and contribute to the success of businesses, organizations, and individuals. All you need to do is pursue a bachelor's degree in accounting/finance – the number-one requirement for entering this commerce.