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10 reasons why finance is a good career path

 

By Nerly Shammah Jul 29, 2023

 

You asked for 1 reason why finance is a good career path, we're giving you 10 because the reasons are enormous. 

 

 

Finance is a high demand profession due to the rapidly growing business space and thus a good career path. Reportedly, there are millions of listed jobs in finance that are waiting to be filled and the average salary across all these jobs is about $70,000 with some of the high-degree options averaging from $150,000 to $400,000 a year. 

 

Without further ado, let's get into the 10 reasons why finance is a good career path:

 

1. Lucrative Opportunities

 

Finance is lucrative as a career path with often high earning potentials, finance offers a rather long list of opportunities.

 

Due to the competitive business space, the salaries of finance professionals are likewise competitive. As a holder of a finance related degree, you're positioned to have diverse job options to choose from. 

 

The financial industry rewards expertise, innovation, and strategic thinking, making it an attractive option for those seeking lucrative career opportunities. 

 

2. Career Stability

 

Finance is a crucial aspect of every business, making it a stable career choice.

 

Looking closely at all major booming and high revenue industries like technology, oil and gas, and even the health sector, finance spans deeply even to these spaces due to the obvious positions for money experts such as financial managers, bookkeepers, etc. 

 

3. Global Demand

 

Financial expertise is a globally required skill, creating opportunities to work internationally.

 

Global estimates show the financial sector to make up 20-25% of the world economy, meaning that across the globe, there is diverse room for finance professionals as by default, every sector needs one. 

 

4. Diverse Specializations

 

Chasing a career in finance gives one room to choose from various finance specializations like investment banking, corporate finance, risk management, etc.

 

The diversity in financial specializations is like a mirror of how large the finance sector is, with this comes enormous freedom of study choice when it comes to finance. 

 

5. Skill Development

 

Finance roles help you develop valuable skills in analysis, decision-making, data interpretation, communication, risk management and strategic thinking.

 

Popular finance professions that require high skills include hedge fund management, private equity management, financial management, etc. 

 

 

6. Networking Opportunities

 

Working in finance allows you to build a strong professional network. This is particularly beneficial for individuals that plan to sooner or later break out from their employers to work solo. 

 

Through client relations, referrals and recommendations, global business deals, joint ventures and collaboration, business and finance events, business development and cross-industry connections, one can build strong and professional networks as a finance professional. 

 

7. Continuous Learning

 

Finance is a constantly evolving field as such, learning is an everyday thing. 

 

Due to the competitive market spectrum, being involved with finance keeps one's mind open and exposed to many advanced knowledge over a period of time. 

 

This timely acquired knowledge may prove extremely beneficial in coming times, depending on industries that one finds his/herself. 

 

8. Personal Finance Management

 

Chasing a career in finance ultimately opposes you to knowledge of personal finance management. 

 

As a financial manager, this is already a part of your skillset, being involved in financial operations will largely affect how one handles his personal finances. This is good for people who wish to build wealth over time and start their own business enterprises. 

 

9. Job Security

 

Finance is a high demand sector, meaning that job openings are often enormous. 

 

The security that comes with being a finance professional cannot be overstated, provided one is good at what he does, this is one of the positions one can hold for a very long time. 

 

Certain finance roles, like financial analysts and accountants, consistently rank high in job demand and it is also important to note that finance is resilient to major technology advancements like the rise of task automation. 

 

While some finance tasks may be automated, complex financial analysis and decision-making require human expertise.

 

10. Entrepreneurship Opportunities

 

Financial knowledge is crucial for starting and running successful businesses.

 

What's better than acquiring that knowledge from experience in the sector rather than just the surface knowledge of money that everyone else has? 

 

Chasing a financial career is one of the best routes future entrepreneurs can take to gather valuable data or information on how to build, manage and scale a business. 

 

Looking at these 10 reasons on why finance is a good career path, it is obvious that not only is it a good career path, but it is one with the most valuable factors to get involved with when it comes to chsing careers in life.