5 Reasons Graduates Should Consider a Career in Finance
Trying to decide which direction to take your career after you graduate can be a stressful and daunting task, Erin O’Neill from London School of Business and Finance explains why finance might be worth looking into.
With the UK’s economy finally on the up following the recession of 2008, you may want to consider a career in the finance sector. 7% of all UK employment belongs to this area, and although many people assume opportunities are largely based in London, there are flourishing economic centres in many other regions of the country.
People are always going to need help managing their money in one form or another, so there’s a high likelihood you’ll find job security, as opposed to many other more unstable careers. Whilst you’ll have to compete for the best jobs – finance is one of the most sought after destinations for graduates –it’s an area rich in long-term rewards and opportunity. We’ve compiled just five reasons why you might want to consider working in the finance sector.
From banking and accounting, to real estate and insurance, job opportunities in the finance sector are incredibly varied, catering to lots of different interests and skillsets. Whether you prefer to be right in the middle of the action, closing deals and landing big bonuses, or are happier working towards success behind the scenes, you’ll be able to find something compatible. Even if numbers aren’t your strong suit, there are plenty of options for graduates from various academic backgrounds to explore.
As the world’s economy becomes more tightly integrated, and technology makes communication overseas easier than ever, the potential for finance professionals to travel or transfer abroad for work is quite the possibility. Working in finance can open up global networking opportunities, and with Paris, Singapore, Toronto and Hong Kong among the biggest financial hubs in the world, relocating to destinations like these is on the cards for the next generation of finance professionals.
Businesses will always need finance professionals to help them manage their money and budget properly. A career in finance isn’t the kind of job that will become obsolete, and as such, there is tremendous room for growth in this sector. If you are willing put in the hours and the hard work, it can be possible to go from a junior position to an executive in just a few short years, building clients and contacts along the way. Ambitious individuals will always do well in this industry, and there’ll be nothing stopping you from reaching the top of the professional ladder.
High salary potential
Careers in finance are well known for their generous pay checks. Graduate salaries in banking and finance are one of the highest in the country, offering competitive salaries to ensure they retain the best applicants. The starting salary for an investment banker is the highest in the UK for graduates, with top firms paying around £45,000. At the upper end of the profession you can expect to make at least £100k per annum. It also goes without saying, that as a finance professional, you’ll be quite proficient in managing your own finances, and will know how to build your own wealth.
Most employers in the finance industry will be willing for you to continue your education whilst in employment. They may fund extra qualifications or specialised training that will enable you to increase your professional worth, develop your existing skills and knowledge. You might even be able to obtain a master’s or doctorate degree if this is something that you think will be mutually beneficial for you and the company.
As a graduate, there is an immense amount of pressure upon you to decide on the area you want to enter into. Although there are long hours and a certain degree of pressure involved with many top finance careers, the benefits often outweigh the negatives. A career in finance is perfect for someone who is ambitious and go-getting, with a penchant for business, technology or numbers.