The Finance sector is becoming quite popular these days. Lots of people are gaining interest in this field due to the wide range of prospects it offers. There are a couple of job openings for people who are interested in working in the finance sector. Before thinking of getting into this field, make sure you have a good hold over math as this is the main bridge to a finance career. The reason why these finance jobs are getting more attention these days is because of the pay package, the salary package is quite attractive.
In the beginning, it is advisable to go for entry-level finance jobs as they will help you gain work experience and have a better understanding of the kind of work you need to do. If you want to go up the ladder of success then experience is very much essential. After that, you can then apply to larger organizations and bigger pay packages since you already have enough experience in the field.
Corporate finance jobs have also become quite popular these days. But before you even conclude your decision of taking up a finance career, you need to be aware of the top opportunities available in this sector. It is important to have a finance job description before you join. If you are interested in getting into this field and you've got no idea which finance job would suit you best, worry not we've got you covered with a list of the top 10 most popular financial jobs.
The opportunities for qualified auditors are growing by leaps and bounds in the finance sector. There are and will be lots of openings both in private firms and within the government for qualified Auditors now and the years ahead. Auditors conduct detailed assessments of an organization’s financial statements which basically entails reviewing records and tracing instances of mismanagement.
With regards to these auditing jobs, they are basically two types of financial auditors, internal and external. Internal auditors are responsible for making sure that the firm is in compliance with progressively complex regulations and standards and comes up with suggestions for the management of how it can increase its efficiency.
External auditors, on the other hand, are in charge of monitoring the business accounts and transactions to which they are contracted and making sure that their practices meet all the legal compliance standards. They ensure that the business financial accounts portray an 'accurate and reasonable' picture of the firm's position, and show the profit or loss for the year.
The difference between an Internal and External Auditor maybe somehow confusing but the primary difference between the two types is who the employer is. If you wish to work as an external auditor, you would be employed by one of the large city financial firms. While internal auditors typically work within the company. As a result, only companies of certain sizes can justify employing internal auditors.
The minimum requirement for you to land an Auditing job in the finance sector is a Bachelor of Arts or Bachelor of Science degree in Accounting. Some other high paying Auditing jobs may require you to have completed an advanced degree program, like a Master of Science in Accounting or Master of Business Administration (MBA) with a specialization in accounting.
The average salary for an Auditor is about $58,812 with a salary ranging from $53,441 to $64,686.
Banking jobs are amongst the most lucrative finance careers in the finance industry as it adds a lot of value to one's curriculum vitae and at the same time offers a good pay package. A career in the banking sector is indeed a very profitable career option. The banking industry is ambidextrous, which means it offers a wide range of positions catering to a broad spectrum of skills and talents.
There are lots of bank branches on every high street in every town with lots of customers making the demand for employees to manage daily transactions keep increasing. Banks deal with numerous transactions that require skillful personnel to handle them properly to ensure its smooth functioning and seamless performance.
Getting a banking job is a very good career option because these jobs are among the most secure jobs you can ever get. They also have pleasant working conditions and hours as well as the opportunity to have holidays and weekends off in most branch locations permitting you to enjoy a comfortable lifestyle.
As a banker or in an entry-level banking job you will be counting money throughout, hence you have to be comfortable working with huge amounts of cash because just a minute slip in the figures can cause you to lose your job.
In order for you to land a good banking job, you need to complete a Bachelor of Science (B.S.) degree in Finance, A Bachelor of Science (B.S.) in Accounting and a Bachelor of Science (B.S.) in Business Administration or Bachelor of Business Administration (BBA).
The average salary for a Banker is about $49,649.
Insurance companies are accountable for protecting individuals from financial losses as a result of injury or illness, and an underwriter will calculate the premium that a company should charge in order to write a claim. This is another fast-growing finance career, especially in the insurance sector. An underwriter is someone who’s main duty is to access the risk of a specific contract. Underwriting jobs entail deciding if requests for insurance cover should be accepted and if yes, what are going to be the terms of acceptance.
They are mainly responsible for evaluating risk based on the likelihood of a claim being made, by assessing a number of factors and requesting detailed information from policyholders. The aim is to minimize the chances of losses for the company and help to make a profit. Their main duty is to calculate the premium. Whether it involves cars, holiday, health or any other kind of insurance there are specialist underwriter jobs which can provide you good finance job opportunities.
Underwriter jobs require you to have a Bachelor's degree, preferably in finance or related field. Insurance underwriters additionally need to have strong math and computer skills to excel at their jobs.
The average for an Underwriter salary is $61,666, but the salary range typically falls between $53,803 and $73,115.
4. Private Equity Analyst
A lot of rapid growth is occurring in the private equity job market; this business is one that has been in. Private equity companies are basically investment companies. Their actual name relates to the methods they use to accrue enough money to invest. They do not go to the stock market and sell shares; instead, their capital investment source mostly comes from wealthy (high end) individuals or the headlines for some time now coming under the public spotlight even more since the beginning of the recession organizations like pension funds, used for investing in a wide range of projects that are not funded by privately traded stock.
The general idea is to buy a company and then sell it once it starts making a profit. Those working in the private equity sector usually work with financing startup businesses. They mostly look for investment openings where the individual projects might be somehow risky but still bring in more returns on investment.
This investment in the finance sector usually attracts two main groups of people which include industry specialists who are able to find those companies that offer the best chances of high yielding investments and those with solid financial backgrounds who are responsible for providing the funds. Private Equity Analyst is the person who works primarily for the private equity firms and conducts research, ratio analysis and provides feedback on the best investment opportunities.
Most of the private Equity analyst is required to have a minimum of two to five years’ work experience in a relevant field such as investment banking, strategy consulting, corporate development, or restructuring.
The average salary of a Private Equity Analyst is about $82,467.
Payroll jobs are rapidly becoming pretty popular these days. Almost every office irrespective of how big or small requires a professional to take care of their payroll since it requires a high sense of responsibility. Payroll is the process of evaluating and paying up an employee for a particular company on the basis of his work. It is not the employer who does it himself. It's rather a hired individual who does it for him. It is an interesting career field that requires you to be good in mathematics or calculations to be more precise and be typically attentive towards the numerous patterns of numerical figures.
This is one of the most important employees in any company since they make sure you get paid. The bigger the structure of the company, the more difficult the role becomes. A good mastery of payment plans, various tax, and pension laws are important for anyone thinking of pursuing a career in payroll.
Payroll jobs in the corporate world are usually the highest paying ones. Corporate offices mostly have a full department for payroll to take care of their employee payments. It has a huge scope of career openings. The salary for employees in this domain is pretty attracting because they have a lot of responsibility to take. These jobs are even a part of the jobs at human resources.
The standard requirement for a Payroll employee is a Bachelor's degree in accounting through an associate's degree is enough for some positions.
The average salary for a Payroll worker is about $58,329.
6. Accounts Assistant:
Finance assistant jobs cover a broad category of diverse careers. Each organization needs people who can uphold a track on their daily accounts and handle different business transactions efficiently and quickly. The role of an accounts assistant is basically as the name implies, with responsibilities ranging in maintaining ledgers and accounts, as well as invoices.
Many people have a hard time when it comes to getting a job in the finance sector, especially if you do not have specific educational requirements or experience. An Accounts Assistant job may be the best option. Generally, the duties of an Accountant Assistant will be mainly raising and booking journals to reconciliation.
They will also be expected to assist the team in maintaining efficient and accurate accounting. These entry-level finance careers provide employees with a chance to gain working experience in some of the different finance fields, which may help you decide where you would like to specialize.
Accounting Assistant jobs generally require you to have at least a high school diploma. However, most employers sometimes require accounting assistants to have an accounting assistant certificate awarded by an accredited college.
The base salary for Accounting Assistant ranges from $35,200 to $44,100 with the average base salary of $39,400
7. Credit Controller:
With the nosedived economic conditions, there are a couple of job opportunities available today in the credit-control sector. A Credit Controller is in charge of making sure that invoices are paid within the specified period. They work alongside the customer finance departments and resolve payment issues to clear unresolved debts.
Credit Controllers are expected to have an all-round awareness of business procedures and the ability to work closely with other departments internally. If you are experienced in providing very effective credit control solutions, you can opt for the credit-control jobs available today. As a credit controller, you need to be confident, polite and persuasive with the ability to build up good relationships with the customers.
A Credit Controller is required to have a minimum Bachelor’s degree in the finance or business-related field of study.
The average salary for a Credit Controller is about $54,983.
8. Finance Director:
When it comes to Finance, the FD is on top of the game. A financial director is a strategic expert who has the skills and experience to ensure the fulfillment of the company’s commercial objectives. They are mainly responsible for managing the finance functions of the business which includes supervising transaction recording, cash flow management, internal controls management, and statutory reporting, finance department personnel management and development, external auditors and tax advisors. They also work on an on-going basis with clients on projects of strategic value. This position comes with great responsibility making it a highly demanding field in the finance sector.
The minimum requirement for a finance director is a Bachelor’s degree in finance and accounting or business-related field of study.
The average salary for a Finance Director ranges from $149,090 to $220,633 with the average base salary of $182,540.
9. Management Accountant:
Amongst all the different sectors of accountancy, management accounts jobs are among the most popular. The management Accountant job is best suited to individuals with strong problem-solving skills within financial situations. They are mainly concerned with predicting the future than assessing the past like auditing. They are mainly responsible for using recent financial data to find ways to cost save, aid growth and profitability in the business.
They work in house for specific clients or accountancy firms, where their services are offered to multiple clients. The training and package benefits are often what attract most candidates to this finance career. Management Accountants are in charge of preparing financial statements and documents, keeping track of spending, cutting costs, assisting in financial decisions and providing general financial assistance to other departments and managers.
Management Accountant employers require accountants to hold a bachelor's degree in accounting, economics or finance.
The average salary for a Management Accountant is about $71,304.
10. Business Analyst:
A business analyst is mainly responsible for making a detailed quantitative and qualitative analysis of a company's business strategies and proposes new approaches for enhancing business performance. They are required to master the different statistical models and apply them in their marketing strategies.
They study and evaluate the company's strengths and weaknesses, then review and edit requirements, specifications, and recommendations accordingly. Business analysts are assigned numerous tasks depending on their job profiles. They are mainly responsible for evaluating the needs of the business clients and stakeholders to highlight financial business problems and suggest accurate solutions.
In order to land a good business analyst job, you need to pursue a bachelor's degree in finance, accounting or a Business Administration (MBA).
The base salary for a Business Analyst ranges from $67,129 to $83,514 with the average base salary of $74,752.