The finance sector is an industry that offers six to seven-figure paychecks to qualified individuals, but it can also be a ruthless and grueling field in which to climb the corporate ladder.
Despite the competitive nature and high demand for jobs in the finance sector, there are definite positives. With an endless call for new talent and the number of roles expanding due to the globalization of markets, new doors open every day.
Your first position may not be in the niche you were aiming for, but the dynamic nature of this sector means that it is one move closer to your goal. With so many stepping-stone-type roles available, we’ve narrowed down the top entry-level jobs that offer the best growth potential in hopes of guiding your decision.
Financial analysts have a plethora of possible roles, such as working for investment or insurance companies, consulting firms, and a host of other entities within the financial sector. These can include budget analysis and consolidation, business studies, report preparation, and developing projections and forecast models.
As the role of a financial analyst requires continuous learning through courses, seminars, and workshops, it also offers options for growth. With new financial offerings needing analysis every day, the demand for experienced talent opens new doors for young financial analysts to step up regularly.
Regarded as a prestigious role within the sector, starting as an investment banking analyst can be excellent for those looking for growth. A professional investment banker’s responsibilities may include; working with the government, corporations, individuals, or venture capitalists.
This role involves handling highly confidential equities, transactions, security sales, and brokering trades between corporations. This kind of work can have headline-grabbing results once complete.
Considering the high-value results and highly demanding nature of investment banking, the need for new talent and the potential for those with experience to step up is constant.
Maintaining and compiling reports while ensuring compliance with government regulation is the basic outline of a junior tax accountant’s responsibilities. This full-time analysis of balance sheets, ledger account management, and other financial reports can be even more challenging towards the end of the fiscal year.
As tiring as the role can be, it is estimated that junior tax accountants can expect career growth at a higher average than any other in the financial sector. This potential growth makes this a gratifying career for individuals willing to put in the hard graft as growth is almost a surety.
Financial auditors have stepped to the forefront, with operational requirements becoming more stringent. A financial auditor role has similar educational needs to junior tax accountants, but the auditor role has a broader area of responsibility.
With companies upping their self-policing to avoid violations, auditors are responsible for accurately maintaining public records and ensuring legislation compliance. As with the role of junior tax accountants, there is exponential growth potential for financial auditors.
Individuals who require an accurate evaluation of their financial needs will enlist the assistance of a personal financial advisor. Advisors help their clients with various financial decisions such as investments, retirement, and tax planning.
One of the advantages of this role is the ability to sell both insurance and provide tax services on top of financial counseling. This creates a unique opportunity to increase revenue.
Unlike many other positions within the financial sector, personal financial auditors will be required to discuss complex financial decisions with individuals with little to no expertise in the economic realm. This position is suitable for individuals with strong communication and interpersonal skills.
There are many licenses required for this profession, so expect to undergo examinations and continuous learning as you grow within this role.
Credit Analysts are experts at investigating financial history. The primary function of a credit analyst is to complete in-depth assessments of a customer or business’s credit application and provide a form of risk assessment.
While credit analysts are present in most financial institutions, the better growth opportunities lie in working for a financial institution or asset management company. The career path for a credit analyst can vary greatly, and attaining additional certifications while in this role can help increase the opportunities for your growth.
Studying trends and data are the primary functions of an Economist. The role contains a mix of government and academic sector ties. Individuals who are passionate about the science of economics and those who enjoy completing in-depth research are ideally suited to the economist role.
The majority of economist jobs will require a more advanced degree in economics, with entry-level positions in the government offering an option to those with bachelor’s degrees. Growth within this space is based mainly on experience, but advancing your career as an economist can be extremely rewarding.
In a perfect world, we would all stroll right into that high-paying dream job as soon as we enter the job market, but the reality is that climbing the corporate ladder is not a short journey. Many large financial firms offer internships to find fresh talent; this works as an advantage for those looking for a start in the financial sector.
An internship is a great starting point as it provides the exposure and hands-on experience that act as a catalyst for your future in finance. Many of the high-level executives currently riding a wave of success in the industry started as interns too.
Opportunities in the financial sector continue to increase along with globalization and the ever-increasing advances in technology. This continuous growth results in a steady stream of new opportunities becoming available each day. The number of options to choose from when deciding which entry-level position will be the start of your finance career, keep increasing.
Whether it’s sitting at the head of the board of a large corporation or having a goal of developing one of the best stock websites money can buy, it is essential to remember that landing your dream job in finance will require hard work, and we all need to start somewhere. Even the most influential financial sector leaders had to work their way up the corporate ladder and were once in your shoes looking for the best job with the highest growth potential.