A financial career can be very rewarding. If you have a head for numbers and a passion for financial planning, the financial sector might be the perfect fit. However, there are some things you should know about a career in finance before deciding to pursue it. In this article, we’ll discuss the benefits and drawbacks of a career in finance, the most popular and lucrative jobs, and more.
What Are the Benefits of a Career in Finance?
First and foremost, a career in finance can pay very well. According to the U.S. Bureau of Labor Statistics, the average salary for financial managers is $131,710. And that’s just the median salary; many managers earn much more than that. It’s important to note that the base salary can be misleading. Finance careers offer bonuses, and they can range upwards of hundreds of thousands to millions.
Careers in finance also offer a high degree of job security. It’s important to note that large institutions get rid of the bottom third performers (give or take) year to year. There is a lot of volatility and uncertainty in many of these positions.
Finance is an essential industry, and there will always be a need for qualified financial professionals. Even during economic downturns, companies still need financial managers to help them navigate difficult waters.