Finance sector

CAREER PATH IN FINANCE

Introduction

Some myths need to be dispelled in Nigeria today, such as the idea that someone who studies finance and accounting can only work in banks or the financial services sector. Since finance deals with money, the universal concept in the universe, it is the universal discipline. Due to these false beliefs, students majoring in finance and banking are switching to careers in technology, or “Tech,” as it is more commonly known. The finance field is a dynamic one that is constantly changing and expanding. Businesses are expanding into new and interesting parts of the globe, which has generated a huge demand for financial services. There are many reasons to work in such a diverse and interesting field. In this article, we outline the advantages of a job in finance and discuss why it’s a great choice.

 

Why finance is a good career path

One of the most progressive industries, finance is gaining recognition for various factors and advantages it provides to aspirant professionals. It is a precise career path. It’s a sector that regularly develops and changes. Because of the introduction of new markets, rules and laws, and more advanced technology, the sector is expanding and becoming more interesting. 

 

Understanding the significance of this sector and how it will benefit you and your job is crucial. 

The following are typical explanations for why a job in finance may be a wise choice: 

 

  1. It provides a fast-paced work environment, a wealth of chances for professional development and training, and allows staff members to interact with managers and executives. (I.e. entry roles). 

 

  1. The ability of finance students to work in major companies, financial institutions, various tiers of government, and multinational corporations is an intriguing aspect of the field. 

Possible areas of employment available in the finance sector:

  • Local, national, and international corporations
  • Treasury Department of Local or state governments
  • Pension and mutual fund sales and management
  • Research departments of major brokerage houses
  • Investment banks
  • Commercial banks
  • Investment management companies
  • Insurance companies
  • Brokerage & securities sales
  • Consulting firms

From entry-level jobs to senior executive positions, the finance industry offers a range of career options. There are several job openings in the financial sector, including:

  • Banking: Professionals are employed by banks in a variety of fields, including corporate, investment, and retail banking. Some positions include tellers, loan officers, relationship managers, investment bankers, and financial analysts.
  • Insurance: Companies that provide insurance hire experts in fields like underwriting, actuarial science, claims processing, and sales.
  • Investment Management: Companies that engage in investment management hire experts in fields like portfolio management, asset management, research, and trading.
  • Government and Public Sector: Professionals in fields like budgeting, accounting, finance, and public finance management are employed by government agencies and other public sector organizations.
  • Accounting and Finance: Accounting and finance companies hire experts in fields like audit, tax, consulting, and financial planning and analysis.
  • Real estate financing: Organizations that offer real estate financing have professionals in their employ who specialize in areas like mortgage lending, property management, and real estate investment analysis.
  • Risk Management: Companies that deal with risk hire experts in fields like enterprise risk management, operational risk, market risk, and credit risk.

How to begin a career in finance

The financial services sector is always evolving; anyone interested in pursuing a career in the field may find various opportunities. But to begin a career in finance, the following steps must be taken:

 

  1. Complete a bachelor’s degree
  2. Join a community like an investment society, e.g. finance and investment club in school: 3. Look for an internship: An internship allows you to get experience in the financial sector.
  3. Enroll for related professional courses such as CFI (corporate finance institute) 5. Have a mentor to coach you through your career and take advantage of the career services in schools. 
  4. Attend career fairs, which offer a good opportunity to meet with representatives from companies and also learn about their businesses and the job opportunities available 
  5. Lastly, you can start by applying for an entry-level role.

Conclusion 

These are only a few examples of the career paths that are open in the finance industry. As you can see, the industry is huge and provides various career options. It’s critical to recognize your skills and interests and go after a career path that fits with them, and it also requires strong decision-making, critical thinking, analytical, research, and communication skills.

 

Anosike Goodluck Chibunna

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