The road to a rewarding, fulfilling and ultimately lucrative career is full of distractions, dead ends and sign boards luring you to stray from your set path.
Investing years of study into a career path means you want to know that the prize at the end is worth attaining. This leads to the question – which career path has the strongest potential for success? We believe the answer is a degree in finance.
Why? Keep reading…
Whilst money may not be the most influential motivator in a career decision, it must be considered. A finance degree which attains compliance through specialised study such as a Chartered Financial Analyst Program, will instill you with the tools to build your own personal wealth and that of others.
In Australia an entry level Financial Analyst position pays around $67,296 per year with pay ranging from $49,154 to $97,469. A qualified financial planner with experience and strong industry knowledge can expect to earn upwards of $100,000 per annum.
Financial analysts and economists may be looking at excess of $120,000 per year. Add to those figures incentives and bonuses and the finance industry becomes an attractive and rewarding employment prospect.
A Wealth of Possibilities
Unlike some areas of study such as philosophy which may limit you to a small field or industry, finance is a multifaceted platform which can lead to a wide selection of careers.
A finance degree may lead to employment within a banking or financial institution, a non-profit organisation, a private business or alternatively, you may become a freelancer or start your own financial advisory service. Another avenue is writing papers for industry publications.
Each career below has multiple branches stemming from them and promotional and advancement prospects:
- Retail banking advisor
- Financial advisor
- Financial analyst
- Asset manager
- Fund manager
- Financial planner
- Investments manager
- International business and finance consultant
- Managerial accountant
Unlike a number of other degrees, the financial services industry is one of Australia’s leading employers. With more than 400,000 workers involved in some aspect of the finance industry, that represents around 4% of the total workforce.
The finance industry offers strong prospects for working internationally, gaining both business and personal experiences and providing a valuable boost to your professional status, business relationships and knowledge base.
Unlike many industries still weighed down by a gender bias wage disparity, the finance industry employs a balanced spread of males to females, with women represented at 53% of the total of those working within the industry.
The business of money is always relevant – always growing. In fact statistics show that the finance and insurance sector is the largest of the 12 industries which make up the Australian economic sector. With a share of 9.9% is pips mining which has a 9.8% share.
There is evidence to show that the health of the finance industry correlates directly with the solidity of the economy.
The Australian Financial Services Union (FSU) is committed to the development of the finance industry in the long-term. As part of their ‘Our Jobs, Our Future’ campaign, they are aiming for tax incentives and disincentives to promote and encourage employment within Australia.
The finance industry offers solid prospects for career progression. This is particularly true in specific areas such as those in project management within the financial services sector, which are especially sought after.
Making the most of your investment in your career begins with identifying the industries which have the best prospects not just today but for long term security. A financial degree is a valuable asset in an uncertain job market and is well worth investing in.