Whether you’re interested in working in a nonprofit organization or one of the big four financial institutions, there are many finance major jobs to choose from. The education required, earning potential, and entry barriers vary by company, but there are plenty of great opportunities to pursue. In this article, you’ll learn more about some of the most common finance jobs and their respective requirements. In addition, you’ll learn about the types of employers for finance majors, which makes it possible to find the perfect fit for you.
Careers in finance
Finance majors in smaller firms have the opportunity to play a critical role in a variety of fields, but it’s important to understand the broader industry. Smaller firms are ideal for recent graduates or people with multiple interests, as you can have more one-on-one interaction with top industry executives and work on real-world projects. In addition to a strong knowledge of numbers, these professionals should have excellent communication skills, risk management skills, and analytical thinking.
The financial manager, also known as the Chief Financial Officer, is a high-level position within a company. Their job description varies widely, but they typically have responsibilities related to strategic analysis and financial support. They may also be responsible for budget preparation, arranging new sources of finance, and annual monitoring. A career as a financial manager or CFO requires considerable financial and analytical skills, as well as excellent communication and teamwork abilities.
Education required
If you have a bachelor’s degree in finance, you can find many lucrative careers. A degree in finance is among the most popular college degrees and is associated with high entry-level pay. Some of the more common employers of finance majors are banks and money management and wealth management companies. Non-profit organizations and fintech firms are also potential places to work. Here are some tips to help you find the ideal job:
To work as a stockbroker, you will need to earn a series of certifications. The Financial Industry Regulatory Authority, a private institution, offers a Series 7 exam, and most states require stockbrokers to pass a Series 63 exam. Other industry certifications include CPA and CFA, which require at least a bachelor’s degree and additional post-secondary credits to obtain. The CPA is the most prestigious certification in the finance industry, but it does not guarantee a job.
Earning potential
The earning potential of finance major jobs varies depending on your position, employer, and level of education. An entry-level position as a bookkeeping, accounting, or auditing clerk can net you $42,410 a year. In addition, you will have the opportunity to develop leadership and interpersonal communication skills, and pursue a professional designation. Listed below are some common jobs in the finance industry. The following is an overview of the earnings potential of finance major jobs.
A finance major job typically earns between $26,030 and $156,189 per year, and the average salary is slightly higher in San Francisco. The salary ranges from $19,509 to $515,794 and is higher than the national average. According to the Bureau of Labor Statistics, a finance major’s salary depends on experience and complexity of the position, as well as the company where the employee works.
Entry barriers
The relationship between competition and entry barriers in the financial services sector is complex and unique. The sector is often regarded as an engine of economic stability, yet many policymakers see excessive competition as harmful to the overall efficiency of the sector. Free market economists argue that lowering entry barriers will increase efficiency by decreasing loan costs and deposit interest rates. However, these theories are flawed and require further investigation. This article will examine some of the most significant factors in determining whether or not entry barriers are beneficial to financial institutions.
The most common barrier to entry in many industries is the cost of entry. While this is understandable, it also makes it more difficult for new firms to enter the market. For example, starting a new car company can be costly, as start-up costs are high. In addition, brand loyalty is high in this industry. A high start-up cost can be a barrier, as is the case with any new business. High start-up costs can also prevent new companies from starting up, or even from meeting the business requirements.
