Dreaming about landing a gig in one of the most lucrative industries?
If you’ve been considering a career in finance, now is a great time to take the plunge. Financial career prospects have been on the rise for years, and continue to soar. Salaries are competitive. There’s real opportunity for career growth. And professions in the finance industry are more recession-proof than ever.
The problem is, you don’t know where to start. How do you break into an industry you know little about? With so many degrees, specialties and career paths under the finance umbrella… it can feel impossible to get started.
Don’t worry. We’ve got you covered.
What we’ll cover:
- Why Finance Career Prospects Are So Strong Right Now
- The Most In-Demand Finance Roles
- Essential Skills Every Finance Professional Needs
- How To Land Your First Finance Job
Let’s jump in!
Why Finance Career Prospects Are So Strong Right Now
So… is finance a good career path? Is a career in finance something worth pursuing? Absolutely.
Finance career prospects have been steadily improving for years, and there are numbers that prove it. According to the Bureau of Labor Statistics, business and financial occupations will experience about 942,500 openings per year on average from 2024 to 2034. To put that into perspective, that’s more than any other career field.
Here’s another figure to wow you:
Business and financial professionals earned a median annual wage of $80,920 in May 2024. That’s over $30,000 more than the median annual wage for all occupations.
Need more convincing?
Once you develop your skillset, professionals in finance are in demand across just about every industry. Every company needs people who can manage money, identify risks and create strategies. From startups to SMBs to global conglomerates… finance professionals will always be needed.
The Most In-Demand Finance Roles
When you hear “finance professional“, one job title might come to mind. But there’s far more to finance than just that one role.
As mentioned above, employers are expecting to hire nearly 1 million finance professionals every year for the next decade. But where will those employees come from? What roles are businesses searching to fill?
Here are the most common roles in finance. (Positions are listed in order from highest to lowest demand.)
- Financial Managers (Projected to grow 15% from 2024-2034)
- Financial Analysts (6% growth, same time frame)
- Personal Financial Advisors (13% growth, same time frame)
- Compliance Officers
As you can see, these positions are expected to grow much faster than average. And they pay quite well too. If you’re looking for a lucrative career in finance, any of these roles would be perfect for you.
Essential Skills Every Finance Professional Needs
Picking a specialization is just one piece of the puzzle.
Once you’ve got a target role in mind, consider what skills are needed to truly succeed in that position. These days, it’s not enough to simply earn your degree and show up on day one with a textbook tucked under your arm.
Here are the skills all finance professionals should have.
Analytical Skills
Finance isn’t just about numbers. At least, the right people in finance care about more than crunching numbers. Top finance professionals are able to assess data and provide real value to their employers. That means being able to identify trends, spot risks and offer solutions to problems.
Raw financial data can’t tell you why something is happening. You’ve got to be able to analyze the numbers and translate that information into actionable insights.
Tech Skills
The world of finance is changing. Technology like AI, machine learning and automation are reshaping the industry as we know it.
If you work in finance, you’ll need to know how to use modern tools and stay on top of emerging trends. You don’t need to be a programmer. But familiarity with financial modeling software, data visualization tools and fintech applications is crucial.
Communication Skills
“A finance professional who can communicate well?” Is that even possible?
Yes, it is! But too often finance professionals overlook the power of effective communication. If you can’t explain complex financial concepts to non-finance coworkers, clients or customers… you won’t be able to do your job properly.
Great finance professionals take the time to understand the people they’re talking to. By meeting others at their level, you can build trust and provide real value through your services.
Problem Solving
Don’t become just another “number cruncher”.
Employers want finance professionals who take initiative and think critically. Business leaders don’t want you to identify problems. They want you to fix them.
Look for opportunities to improve your employer’s bottom line. Whether you do so by streamlining processes, identifying cost-cutting measures or discovering new sources of revenue, problem solving is a skill that will set you apart from the pack.
How To Land Your First Finance Job
Alright. Here’s the good stuff.
You know that financial jobs are plentiful. You even know what specific roles to target and what skills you need to succeed. Now all that’s left is to figure out how to actually land a job.
Here are four steps you can take today to start your career in finance.
Get the Right Education
This one might seem obvious, but it’s the most important step of all.
You’ll need at least a bachelor’s degree to get your foot in the door at most finance-related positions. As for what degree to pursue, you have plenty of options. Finance, accounting, economics and business administration are always good choices.
Many roles may even require or prefer that you have your masters degree as well.
Don’t stop there though. Furthering your education with professional certifications can help you stand out from the crowd. Certifications like CFA, CFP and others demonstrate to employers you’re serious about your career in finance.
Gain Real Experience
Next, get some real world experience under your belt.
There’s no substitute for actually working in the field. Whether you land an internship or entry-level position somewhere, working as a finance professional is the best way to improve your skillset.
Many large finance companies also hire their interns. So if you know you want to work for a big-name company, getting an internship is a great way to get your foot in the door.
Experience doesn’t always have to be directly related to finance either. Working in accounting or business operations can help you develop skills that translate to your finance career.
Network Often
Let’s say… you did everything mentioned above.
You got your degree. Maybe even your certification. You’ve worked in the finance field for years and have a wealth of experience others can’t match. But you still don’t have a job. Why?
You didn’t network.
Networking is a surefire way to find a job in finance. When was the last time you read about a job listing on LinkedIn or Indeed? Chances are, most open positions are found through word of mouth.
Make connections with other finance professionals. Attend industry events. Join professional organizations in your city or niche. Networking is how most people land jobs… they just don’t talk about it.
Stay Up-to-Date on Industry News
Speaking of networking…
It’s important to continue learning even after you get your dream finance job. Finance professionals should always stay up-to-date on the latest news affecting their industry. From changes in federal regulations to advancements in technology.
When you can talk to your boss and coworkers about current events, they’ll know you’re passionate about your career. It could mean the difference between getting that next promotion or not getting hired at all.
Wrapping Things Up
Breaking into the world of finance starts with education.
Once you learn the skills needed to succeed, put your knowledge into practice. Gain experience by working in the field or somewhere related. Network with other financial professionals. And always stay up-to-date on industry news.
Here’s what you learned:
- Finance careers are expected to have over 942,500 openings every year from 2024 to 2034.
- The highest demand roles include financial managers, financial analysts and financial advisors.
- Skills like analytical thinking, technical know-how and communication are essential.
- Get an education, obtain real experience and network like your career depends on it. Because it does!
The finance industry is here to stay. So get out there and pursue your dream career now.
