Every company in every industry has to deal with money. From payroll and budgets to taxes and savings, overseeing expenses can be challenging. But for those equipped to do the job, there is a promise of career opportunity, job stability and a steady income of your own. So, if you have a knack for mathematics and a desire to join a career field that has your back, here are some of the top careers in finance that you should consider:
Financial Advisor
Financial advisors are responsible for overseeing the monetary needs and expenses of an individual or business. Personal advisors often are self-employed and help their clients manage their investments, finance their homes, plan their retirement and more. Business advisors perform similar work, but focus more on the profitability of company projects, company-wide retirement plans and the like. These individuals usually hold a bachelor’s degree in financial-, mathematic- or business-related fields and continually keep up-to-date on the latest economic trends.
The Bureau of Labor Statistics predict that financial advisors will see a 13% increase in jobs by 2032 and currently hold an average salary of over $92,000 per year.
Actuary
These financial experts use statistics, mathematics and financial theory to develop the best, low-risk policies for companies. Heavily relying on industry expertise and mathematical calculations, actuaries are responsible for designing and testing insurance policies and calculating the cost and savings plan needed in case of emergency workplace incidents. Most actuaries work for insurance companies, but are given the opportunity to work with clients across industries and locations.
To become an actuary, you need to at least obtain your bachelor’s degree in a mathematical or analytical field such as statistics. Actuaries have a predicted growth rate of 23%—far outweighing the 3% average rate of other careers—and currently make over $113,000 annually.
Financial Analyst
Dealing primarily in investments, financial analysts guide companies and individuals on the best ways to utilize their current and future investments to expand their profit. They keep up-to-date on the stock market, watch economic trends and usually fall into one of two specialties. Buy-side analysts are responsible for developing investment strategies for companies that have a lot of money to invest. These companies, called institutional investors, include hedge funds, insurance companies, independent money managers, nonprofit organizations with large endowments, private equity firms and pension funds. Sell-side analysts advise financial service sales agents who sell stocks, bonds and other investments.
Financial analysts need a bachelor’s degree in business to pursue their career. They have a predicted job outcome of 8% and average an annual salary of over $96,000.
Insurance Underwriter
If you want to work in finance, but don’t necessarily want to crunch numbers as your primary job task, you may want to become an insurance underwriter. They are responsible for reviewing insurance applications and determining if they should be approved. Insurance underwriters need to have a thorough understanding in finance, technology and insurance policies, and often work with other businesses and personnel.
Typically, a bachelor’s degree is preferred to become an insurance underwriter, but many have qualified solely on their past experience working in insurance. Currently, the field is experiencing a slight decrease in growth at -2%. However, this career remains a great option to consider as you continue gaining field experience. Insurance underwriters see an average yearly salary of over $76,000.
Accountant
Accountants are the go-to source for everything budget and finance. Working with both individuals and businesses, accountants are responsible for overseeing financial data, identifying risks within that data and advising their clients on how to best maximize their earnings. Accountants can aid in creating budgets, complete tax-related paperwork, maintain financial records and provide their expertise in financial changes. They need to obtain their bachelor’s degree in accounting to enter the field and it is advised that accountants earn their Certified Public Accountant (CPA) license. These jobs are seeing a steady increase at 4%, with those in the field making about $78,000 per year.
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