CAREERS IN FINANCE
Finance is a term used to describe all kinds of money management and funding. This article highlights popular careers in finance.
Finance is a broad area that covers the evaluation and management of investments and spending. It is also a study of the processes of investing and raising money as well as financial planning.
There is a variety of diploma and degree programmes available to students after they have completed secondary school or pre-university. These programmes range from pure Finance courses to courses that combine Finance with other related areas such as Business, Accounting, Banking, Economics and Investment.
Taking two years to complete, a Diploma in Finance equips students with a strong foundation in Finance subjects and useful skills that can be applied in the workplace. Some of the subjects studied at Diploma level include Introduction to Business, Fundamentals of Marketing and Financial Markets.
Students can enter the workforce with a Diploma or progress to a Bachelor’s Degree in Finance. Corporate Finance, Financial Economics and Entrepreneurship are examples of subjects students will be exposed to at Degree level. A Finance degree typically takes three years to complete. Most degree courses in Finance require students to go through several months of industrial training and complete a final year project.
Skills Needed in Finance
Individuals who are good at problem-solving, mathematics and calculations will enjoy working in the finance industry. Having a good understanding of the industry and interest in topics such as economics and business will help as well. In addition, most jobs in finance require good communication skills, IT skills, and analytical thinking. Those who are people-orientated and logical will thrive in the finance industry as well.
These skills will be useful as the roles of finance include driving cost efficiency, carrying out analysis to sustain businesses and making financial arguments for funding and budget management.
Job Opportunities in Finance Sectors
The main employers in the finance industry are commercial banks, investment banks, insurance companies and brokerages. Job titles in commercial banks include Bank Officer, Credit Analyst and Mortgage Specialist and tasks include providing financial solutions and monitoring credit risk assessment.
Investment banks need Equity Analysts and Investment Analysts to create comprehensive financial models and predictions based on in-depth analysis of the current economy and industry. Financial Planning Advisors who work in insurance companies are tasked with gathering data and preparing complex insurance reports. In addition, brokerages hire Financial Brokers to execute brokerage accounts for clients and be experts in equities, derivatives and commodities.
Job Opportunities in Non-Finance Sectors
Finance graduates can find employment in non-finance industries as well such as Trading & Services, Manufacturing, Agriculture, Construction and Mining. They will usually hold titles like Finance Executive and Finance Specialist. Tasks of a Finance Executive or Finance Specialist include conducting cost-benefit analysis, reviewing budgeting proposals, creating forecasts for future business conditions and carrying out analysis for future the company’s future prospects. Furthermore, they are responsible for improving the financial status of the company through analysing results, identifying trends, monitoring variances and coming up with solutions to the management.
Careers in finance will always be available and relevant because all business ventures deal with elements of finance, especially in the areas of growth and profit. Investment and funding decisions rely greatly on finance as well. In addition, finance plays an important part in ensuring the health of the overall economy.