Why a Career in Finance Will Make Your Friends Jealous
Have you ever bumped into someone from your childhood and started to catch up, only to hear about how well his or her career is going? And all the while were you thinking to yourself that your job isn't nearly as interesting, impressive or worthwhile?
It doesn’t feel so great when we envy others' accomplishments. If you no longer wish to feel like this, what's stopping you from finding a career you are proud to discuss during these accidental rendezvous with old friends?
If you're ready to take pride in a new career, the financial field may be exactly what you need. Let me tell you why pursuing a career in finance will make your friends jealous of your success.
Why your friends will be jealous?
An Awesome Career Outlook
While the movies often portray finance professionals as greedy suit-and-tie-clad drones (like in the movie Wall Street), this typically isn't the case. There is much more to working in finance than being the next Gordon Gekko. Rather, there are financial career opportunities in every industry – no tie and cut-throat attitude required.
What's more, according to the Bureau of Labor Statistics the employment for the financial industry is projected to grow 23 percent through the year 2020. As this industry experiences faster than average job growth (more than any other industry), you can expect to see a lot of stability in future job opportunities in the field. Can your friends say that about the industry they're in?
Important Jobs and Duties
Just as you can work in many different industries, those with an education in finance can also work in a wide variety of specialized areas within the finance field. Many finance graduates begin building their career in the field by becoming a financial analyst. Those working in this position may end up guiding individuals or businesses leaders through investment decisions or studying trends to discover financial opportunities.
Other similar occupations you may find yourself in as a finance professional may include:
- Budget Analyst: Typically works with a company’s top managers while organizing, preparing and monitoring the organizations finances.
- Financial Manager: Tasks may include analyzing market trends to find expansion opportunities for an organization.
- Insurance Underwriter: May evaluate a client’s insurance risks in order to determine coverage amounts and premiums.
- Personal Financial Advisor: Provide financial advice on taxes, insurance decisions and investment opportunities for individuals.
In May 2010, the overall median annual salary of financial analysts was about $74,000 (the top 10 percent was more than $140,000!). In fact, the average salary for all occupations in the U.S. in 2011 was about $42,000 less than that of the financial analyst’s annual average wage.
To help you compare income levels throughout the U.S. the visualization below shows the annual average wages for financial analysts by state; check it out to find averages in your area for this position.
If the career outlook, job duties and salary potential for this field aren’t enough to make your friends jealous, then the opportunity to dress like The President everyday definitely will. Know you will typically need to complete your bachelor’s degree in finance or a similar area of study to work in this field, but upon graduation you will be poised to begin building a career you will be proud to discuss at your next high school reunion.