Finance Degree – Types, Courses, Jobs, Salary
A career in finance is not just about money. For a business graduate, getting a degree is simply the beginning. After obtaining the degree, you have to identify the available career options and measure the best industry sectors to work in.
The finance industry has a lot of sections which offer a variety positions that require different skills and area of interests. There are a lot of sub-industries that under the financial services industry.
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Careers available to finance graduates are available in a set of industries. These industries include;
Corporate Finance
A job in the corporate finance industry involves working in a company position that functions in the creation and management of capital necessary for the running of the firm. This is done by the maximizing of corporate value and the reduction of financial risk.
The roles involved in corporate finance include;
- Company strategy setup
- Forecasting of company profits and losses
- Negotiating lines of credit
- Preparation of financial statements.
- Coordination involving outside auditors
A more sophisticated corporate finance job might deal with activities in mergers and acquisitions. Corporate finance positions exist in different companies of different sizes. Financial positions include; financial analysts, treasurers and internal auditors.
Commercial Banking
Commercial banks range from large entities to local institutions. They offer different types of financial services which range from checking and saving accounts to provision of loans. Job opportunities which are available include bank tellers, loan officers, operations, marketing and branch managers.
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Gifted professionals can be promoted from a local branch to working in a position in the corporate headquarters. This type of promotion would expose such a profession to working in other areas.
Investment Banking
Some of the most interesting, highest paid and intense jobs are found in investment banking. Investment banking deals with the facilitation of the issuing of corporate securities and increasing the availability of these securities to investors for purchase. This is done during the trading of securities and provision of financial advice to investors which can either be individuals or companies.
Working in an investment banking firm will allow you to be involved with the issuers or securities, mergers and acquisition professionals and others involved in the trading of securities in the secondary market.
Hedge Funds
Working with hedge funds means working with largely unregulated private investment funds whose managers trade in an array of assets and financial products. Due to the complexity of working with hedge funds, these jobs are highly respected in the finance industry.
Hedge fund jobs include;
- Financial analyst
- Trader
- Regulatory compliance officer
- Quantitative analyst
- Marketing manager
- Portfolio manager
- Private Equity and Venture Capital
Financial Planning
Finance graduates who work as financial planners help in the development of plans for individuals which promote their present and future financial stability. They basically, review a client’s financial goals and develop plans that aid in saving and investments that don’t go against the clients need. The plan may be based on the preservation of wealth or may concentrate more on investment.
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Majority of financial planners are employed in either multinational or locally based firms. Planners sometimes charged fixed fees, while others charge a percentage of the assets they are in control of, or they receive commissions on products sold.
Insurance
Finance jobs found in the insurance industry function in assisting business and individuals anticipate and manage potential risks to them or their business. They also help in the management of losses that arise as a result of this risks.
Public Accounting
Public accounting is a broad industry to work in and provides many opportunities. A public accountant will help businesses and individuals monitor their finances based on GAAP. They are also involved in the recording of business transactions, preparation of financial statements, auditing, and provision of consultancy services.
Public accountants are generally known to work in partnerships. The largest partnerships include; Deloitte Touche Tohmatsu, PricewaterhouseCoopers (PwC), Ernst & Young and KPMG.
