How many jobs are available in Finance
Finance is a vast domain and for ages considered one of the toughest topics to master and work on.
People only opt for a career in finance if they are confident of being cut out for a career in finance because it is not easy to study and understand at first and secondly once you get into a job it’s really difficult and challenging as dealing with money is no easy job.
However, there are many job roles one can take up in the finance domain and in this article, we bring to you only the best jobs available in finance.
We know our readers often ponder over the question of how many jobs are available in finance and hence we worked on this topic to help you find out how many jobs are available in finance by reading this article.
Keep reading new and interesting articles which we bring just for you.
Quick Overview about Finance
We all know finance means money, but we almost never bother about what the actual definition is and hence as we explore job roles for serious candidates it’s high time you get to know what finance really means.
Finance can be defined as the study of monetary concepts, currency, and capital assets. Finance is not just handling money but encapsulates how money actually works how money inflates and deflates and how its value varies from country to country.
Already confused? Well, we won’t be deep diving into Finance 101 here but just to enhance your basic understanding of how many jobs are available in finance we needed you to get a taste of what finance is don’t worry by the time you end reading this article you would have a healthy understanding of Finance.
is finance consumer services a good career path?
A career in finance is often considered a good career path, it pays well above most high-level jobs.
But It is hard to get a job in finance. The finance sector requires in-depth knowledge of math and a high level of education or degree.
Four Key Areas: Finance
If we further define finance in an operational manner it involves the management of money for self or clients which may be an individual or an organization and involves activities like drawing a financial plan, budgeting, investment management, borrowing, lending, etc.
It brings us to the 4 main areas of Finance which would be step 1 towards finding answers to how many jobs are available in finance.
- Banks: We all know what banks they are either commercial banks involved in taking money in form of deposits and lending money for multiple purposes, they can be considered as the engine of an economy and help money transfer hands from one with the excess balance to people needing money or investment banks.
- Financial Institutions: These cover numerous loan houses, small finance banks, mutual fund corporations, etc.
- Public Accounting
- Corporate Financing
Above are the 4 broad areas of finance in which one can take up a job as per his or her skill and interests.
Top Career Options in Finance: Find How many Jobs are Available in Finance
If you are pursuing a degree in finance or planning a career in finance then you must be wondering how many jobs are available in finance. Well, don’t worry we have you covered as we will be providing our research and analysis on the Top job profiles available in Finance domain.
1. Public Accounting
Accounting is one of the most basic functionality or service required for any business or organization. It involves maintaining and recording the flow of money in or out of the accounting books of an organization.
There are many organizations that provide the services of public accounting however if you are aiming for the sky then you should look for roles in the Big 4 firms in the domain of finance which include Delloite, EY, KPMG, and PWC.
Once you achieve a graduate degree in commerce you are eligible to apply for the role of a public accountant.
2. Corporate Finance
If you wish to work in the major league making a lot of money then there is no better option than corporate finance as you get to manage funding activities required for a major company, it allows one to work with top-level CEOs and managers across major firms and organizations.
The 3 main roles involved in the job role of corporate finance are Funding sources, investment decisions, and capital restructuring.
3. Investment banking
Its one of the most well-known and esteemed job roles in the finance domain and is one of the fastest growing in terms of salaries and annual packages. As an investment banker one needs to assess an organization’s business, and financial health, get a measure of asset classes, and structure or restructure the financial models.
They also need to invest ideal money in stocks, bonds, or debt funds by assessing the risk and reward probabilities.
4. Portfolio Management
It’s one domain that requires a mix of multiple skills to get the job done. As a portfolio manager, you need to find a way to create a profit-making portfolio of assets to invest in using financial knowledge, business knowledge, and the skill of using an analytics tool to find useful insights into which asset to invest in.
One of the key aspects of a role in investment banking is asset allocation and determining what percentage of ideal cash should be invested in each of asset class.
A portfolio manager’s job doesn’t stop at making a portfolio but also needs to regularly monitor the portfolio for modification involving adding or removing assets or rebalancing the weightage of support to ensure your client is earning regular profit.
5. Risk management
As a risk manager, one needs to assess macro level risks and risks associated with a certain business operation and hence try and maximize profits and minimize risks of an investment.
One needs to have mathematical acumen of calculating the risk from financial data and also be regularly updated about news and asses the macro level risk.
6. Equity Analyst
If you wish to be involved with stocks then we have the perfect job role of an equity analyst. An equity analyst is involved in the role of analyzing the equity of a company and making recommendations of buy or sell and publishing reports for leading finance-based websites.
7. Mutual Fund manager
Another role in finance which is a dream job for any finance pundit is that of a mutual fund manager, A mutual fund manager is engaged in managing a mutual fund portfolio and keeping it profitable to attract more and more investors.
8. Commercial banking
Commercial banks act as engines of the economy providing several services to individuals and organizations and hence if you are looking to enter the commercial banking sector you can work as a loan officer, cashier, credit risk analyst, branch manager, etc.
9. Compliance and Internal Control
Banks just don’t function as they want there are numerous laws and compliance a bank or a financial institution needs to follow and hence this opens the role of compliance and internal control specialist who is involved in maintaining that a bank’s operation follows all the rules and regulations, and actions don’t wither away from any compliance.
How To Make It Big in the finance Domain
Everyone wishes for a successful career but if you are in the finance domain it’s not easy to be the best as the multitude of factors one needs to deal with in a finance job is not easy to manage.
However, it’s not going to be very difficult as we would be explaining key factors which can make you a top-notch at your finance job.
Education
The key requirement to even be eligible for a job in finance domain and go forward in your life is the correct education. One needs to ensure that he or she takes up the correct courses in order to not only be eligible for jobs but also learn key basic knowledge required to excel
Interpersonal Skills
As a specialist in finance jobs, you must be wrong if you think you would be crunching numbers and making decisions, almost all job profiles required handling clients, making presentations and dealing with numerous stakeholders and hence we believe to enhance your career in finance one need s to pay attention to interpersonal skills.
Reporting Financial Data
Reporting is a key skill in any field but if you are working in the finance domain one requires to build a special skill of reporting financial data as it needs one to have an eye for detail of the key details to be reported.
Analytical Skills
One needs to find relations from the vast quantity of raw data and information to make the best decisions and forecast the future to make a great financial decision.
FREQUENTLY ASKED QUESTIONS (FAQs)
is finance consumer services a good career path?
A career in finance is often considered a good career path, it pays well above most high-level jobs. But It is hard to get a job in finance.
How many fields are there in finance?
There are mainly 4 fields in finance, which involve commercial banking, public accounting, financial institutions, and corporate finance.
How many people are employed by the finance industry?
If we talk about the USA the total number of people employed is 7,695,710 as of 2022.
Final Words…
We have completed the article discussion on the topic of how many jobs are available in finance and hopefully reading this would be sufficient for getting answers to the question of how many jobs are available in finance. We would now look to bid goodbye to our readers and
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