Getting a finance major is a rather popular choice thanks to its bright prospects. The world of businesses is expanding, and the flourishing industries have sufficient room to accommodate the young emerging talents. Since the sector has room in so many capacities, its diversity serves as an added benefit alongside job security. And on top of it, the pay scales are decent and enables you to envision living with a comfortable lifestyle. All these details fill the checklist of a promising career and make you want to explore the possibilities with this degree.
There are several career options to consider after you get done with your finance major program. You can choose to fit in a job that suits your taste best. There are more critical roles like analysts or actuaries that you can choose. Or a more passive approach would be to join as an accountant or a business teacher. Each profession is distinct and comes with its own set of perks. However, the pay scale can vary drastically, depending on the nature of your work.
Each job has its standing in the hierarchy, and you can barge in to disrupt that set standard. You will have to start with the basics and work your way up, but there are always limitations to growth. In some cases, you will get restrained because of reaching the top position in that profession. Others might require complementary skills and certifications to qualify you for promotions but can take you to unprecedented heights of success. So you get to decide the scale of your accomplishments based on where you want to see yourself after a couple of decades in your professional career.
However, if you are aiming for the top, then there are some career choices that you should consider favorably. Depending on the dynamics of the industry, you can expect to make a decent fortune and fulfill all your goals. Here are some of the best career choice options that you should look out for after completing a major in finance.
1. INSURANCE UNDERWRITER
The insurance industry is booming in the market due to its extensive and vital services. They are crucial to run businesses and help people struggling with their finances to keep up with their medical expenses.
Because of their business, insurance companies need people who can scale guarantee payments against damages and accept related financial risks. This job involves careful analysis and assessment of assets to decide upon the value and go ahead with the plan. That’s why it’s best-suited to finance majors.
Addressing the question of how to become an insurance underwriter, you need to start with the basics and get your degree. Then you can worry about getting a certificate for this job and begin setting the foundations of your career.
2. FINANCIAL PLANNER/ANALYST
The role of a financial planner or analyst is crucial to any business. They decide and scale the investments of a company and help determine the best use of existing resources.
Additionally, they also help in deciding when a business can conveniently consider the option of expansion or securing more assets. That helps them capitalize on opportunities while maintaining a smooth flow of finances.
Also, they track the returns on your investments and advice revision if necessary. It results in avoiding any potential useless investments.
Companies work with huge numbers, and the risks are equally higher. Despite making careful moves and working with reliable, there’s always a significant risk factor involved while doing business. You can outline it better using the amount of investment in the project, possible chances of losses, overall returns, probable fluctuations, and several other variables.
Not any regular employee can work with these ideas and present reliable numbers to support the venture. An actuary can accurately perform this job and make sure that your money is going in the right hands. They use extensive statistical data and techniques to extrapolate results and perform adequate risk management analysis based on that. That’s what’s makes their role so important.
It isn’t rare for finance majors to join the field of accountants. Just like the regular accounts, they have to present all the relevant statements and data in an orderly fashion to clients. Working with accounting problems, they can develop critical analysis skills to deal with them and learn to pay attention to small details.
Continuing to serve in this capacity can help them progress in their careers and achieve the position of financial managers and other leaderships. Thus, highlighting the room for growth and reinforcing the idea of choosing it as a professional career.
Businesses run in line with several legal requirements defined by the state in which they are working. Breaching or failing to meet these requirements can result in getting tangled up in affairs related to obstruction of law. To better understand and deal with them, attorneys need to be well-versed with all financial aspects of a business.
The growing number of businesses and their complex nature has resulted in an increased demand for legal assistance. That has enabled attorneys to enjoy a handsome per annum income and stability in their professions.
6. COMMERCIAL REAL ESTATE AGENTS
Real estate is another flourishing industry at this point. People are readily entertaining the idea of buying properties to start living on their own or set up their own families. In response to this, the job of real estate agents has gained some prominence. These brokers carefully assess the financial standing of their clients and make appropriate suggestions that suit their needs.
Besides this, it is also the job of commercial brokers to enlist properties based on their financial potentials for clients. Depending on the vicinity and the type of property, they advise people accordingly with its use for business and personal matters. That helps people clear up their minds about making a decision.
These are some of the most important and most promising career choices for finance majors at this point, but they are still only a handful of options. You can always choose to pursue complementary courses, certification, and degree programs that help advance their career. It can pave the way for their progress and make them more receptive to rather attractive career opportunities.