The Top Five Reasons Why a Career in Finance is a Good Idea

Financing is a fast-paced industry that deals with financial and monetary operations in an organization. It includes banking, asset management, insurance, private equity, and venture capital procedures.

It is worth mentioning that financing has always been an in-demand field. Since economies, societies, and communities rely on financial management for seamless functioning, the area of financing is growing.

A finance degree is one of the most thoughtful decisions students can make for their careers. It is a common practice for all the students to grind for their Bachelor’s and Master’s degrees. Some even invest a handsome amount in securing a Ph.D. degree.

Unfortunately, many graduates still struggle for a job in the industrial sector despite all the investment in their academics.

While the other degrees cannot promise the same returns, a career in finance often leads to a secure job.

That is one of the main reasons why many students apply for CPA (Certified Public Accountant) exams. Those who pass these exams become professionals in the field of financing and accounting.

Passing a CPA exam is very difficult. There are lots of variables in place, as well as the preparation.

Many turn towards CPA preparation centers such as Wiley or Becker to ace the exams. While the debate of Wiley vs Becker is still prevalent in student communities, it is worth mentioning that both centers offer excellent preparation materials for the CPA exam.

People who pass these exams are often considered elite professionals in accounting and finance. Having a license paves the way for upward mobility in terms of career and growth.

With that said, there is a multitude of career opportunities and benefits that await them. Click here to see this website for career opportunities.

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   Finance Jobs are In-Demand

Financing is an ever-green field that is relevant in every era. As explained earlier, societies, communities, or economies depend on successful financial strategies to function smoothly.

The different data volumes followed explosive growth in the modern world, financial data being one of them.

For that reason, the field of financing and accounting is forever in demand. It has become an in-demand career, especially in the current era.

There has never been a greater need for solid financial strategies and money management than now. According to the US Bureau of Labor Statistics (BLS), finance-related occupations are expected to grow by 5% between 2019 and 2029. The stat hints at the growing numbers of finance and accounting positions in the market.

2. High Earning Potential

Accountants and finance professionals usually enjoy high-salary positions. Jobs in such fields are often known to be far more generous in comparison to other occupations.

Often, entry-level jobs don’t pay well. However, a finance major can guarantee a very handsome salary even for beginners. It is one of the highest paying jobs where the starting salary is 55,000 USD to 60,000 USD.

As people advance in their careers, the mid-level salary reaches 110,000 USD. For professionals, the remuneration becomes even higher.

Even the lower level salaries show impressive numbers. The financial executives among the lower 10% make at least 70,830 USD, while the top 10% earn more than 208,000 USD.

3. A Great Work-Life Balance

Many corporate jobs are known for overwhelming duties and insufficient time for personal life. The need for dynamic workflow has resulted in an imbalance that has led to a culture of overwork.

However, that is not the case for financial executives or managers. The tasks and assignments in the sector of financing are pretty manageable. The professionals can easily control the workflow.

That is one of the reasons many finance professionals find it easy to manage their tasks and maintain a work-life balance. It paves the way for a healthy routine and lifestyle.

4. Diverse Career Options

The field of financing and accounting is full of countless opportunities. The reason for that is the broad applications of the field.

Financial managers and executives are at the forefront of all monetary operations, from corporate sectors to entertainment industries.

The demand for financing in all industries renders the occupation incredibly diverse. Professionals seeking to shift industries or seek more diverse growth options can easily do so in finance.

5. Job Security

The COVID-19 pandemic transformed job security in many fields and occupations. Many people suffered from sudden unemployment, and the demand for many domains shifted drastically.

However, the field of financial management is still as relevant as before. The biggest reason is that finance is a much-needed occupation, and its importance is only expected to increase with time.

Such factors add to the job security of the finance and accounting field. It is one of the most stable career options because of increasing demand. A job in such a sector is also secure from market fluctuations.

Final Thoughts

Finance and accounting are the two most in-demand fields which promise a good career for graduates and professionals. The demand for such fields is only expected to increase in the modern era.

Apart from high demand, the added perks of job security, diverse career options, work-life balance, and high earning potential make financing a very beneficial occupation to pursue.