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By Adriana J. Noton
In spite of a volatile economy, the financial industry continues to remain a place for growth. This business sector consists of banking institutions, investment companies, brokerages firms, brokers, economic advisers, financial planning, mortgage officers, capital managers, accountants, book keepers and even bank tellers. These finance jobs are all in a growing industry.
A lot of these positions, nonetheless, need some kind of training. Like a 2 year or 4 year higher education diploma to even be considered. Some organizations will have training for you. Nevertheless, the major money is on Wall Street.
Even though the US economic system faced difficult times, the federal government gave money to bail out this sector. Considering many of these financial institutions too big to fail. This allowed many people to keep their jobs. This lays precedence to the fact that jobs in this sector, even in recessive times can have more stability then in other sectors.
Mainly because this can be this sort of a wide and aggressive field, narrowing down what path you should go is probably the best place to start. Understand, many of these positions not only need schooling and experience, your results are often measured by performance. Consider a stock broker for example. You will need to pass an examination called a series 7 for your license. You will need to comprehend how the stock markets operate, you will also need some sales skills. The same skill sets are required for being a successful financial adviser or planner. But, these positions can be remarkably financially worthwhile.
If your looking at becoming an accountant, you will definitely need a college degree. You will need an understanding of tax law and tax guidelines. Knowing how to apply tax code is must and any mistakes in doing so can leave you exposed to legal action. A good accountant is always highly sought after. They can help save people or corporations thousands if now millions of dollars by understanding how to apply the best accounting practices. If you are really skilled, you could become a forensic accountant, tracking the flow of money and fraud detection.
You might find a profession in M&A (mergers & acquisitions). This can be a hugely rewarding job. In this niche you can broker merger deals or aid in corporate consolidation. You can identify merger and partnership opportunities. Most M&A brokers get a percentage of the transactions, and can negotiate stock and stock options as part of their compensation.
Securities law is another highly lucrative field. A good securities attorney can make a substantial amount of money on a consistent basis. There are securities law firms, and there are private practices. In depth knowledge of securities law is in very high demand. There is risk however, if you fail to apply proper understanding of securities regulation. Good securities lawyers will be able to steer their clients through the gauntlet of financial regulations and keep them safe from regulatory exposure. Attorneys who are skilled in this area are often times employed or retained by M&A companies and brokerage firms.
Getting your foot in the door is the first step in taking advantage of any opportunities that may be available to you in this area. You could get job as a bank teller while you are going to college. You can look for intern work to start gaining experience and knowledge. Get out there and network. By doing these things you should be able to work your way up the financial industry ladder.
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