Friday, July 1, 2022

Top 8 Jobs for Finance Enthusiasts in The Banking Industry

The world of banking is always at the top of its game. There is usually a stock exchange open somewhere around the world that transfers money between continents through trading, and investments are always skyrocketing.

Given how startling and pre-emptive the banking field is, many graduates tend to break into this field and take advantage of the prospects. With excellent pay and opportunity for growth, it’s easy to see why banking is so popular.

Now that we’ve established how awesome it is to work in banking let’s get to the point. What are the best and most lucrative career options for money-handling enthusiasts?

There is a wide range of job opportunities available at each level of expertise, whether you are a seasoned finance professional or looking for entry-level banking experience. Furthermore, you can narrow your job search and begin applying for banking jobs by looking at the following positions available in the banking sector:

  1. Investment Banker

Average annual salary: $65,518 

Young and ambitious finance students fresh out of college are often drawn to investment banking by the appeal of high salaries and abundant cachet. Furthermore, investment banking is frequently used as a stepping-stone to more financially rewarding and reputable careers.

Before we get into the roles of an investment banker, let’s first answer this: What’s an investment banker in today’s time?

An investment banker is a person who typically works for a financial institution and is mainly concerned with capital raising for governments, corporations, or other entities. These individuals can give clients financial advice about investment options. Still, they can also help instrument the process by overseeing asset liquidation to minimize debt and other aspects. At the entry-level, investment bankers should have a bachelor’s degree, with more senior positions requiring a master’s degree.

  • Financial Planner

Average annual salary: $65,002

Financial planners are becoming more common day by day. The various types of insurance, shares, stocks, super funds, and mortgages are undeniably confusing and complex. That’s why people prefer to have someone else research them. And that is where financial planners come into play.

Financial planners must know and explain the various products available to clients. For instance, which ones will satisfy them best and provide them with the financial returns and safety they seek. Financial planners negotiate the best price with customers and product manufacturers, maintain records of all transactions, and provide clients with regular reports. They must stay current on all legislation and regulation, as this is an increasingly regulated industry.

Working with clientele and financial providers necessitates strong negotiation and effective communication. To work effectively on behalf of clients, planners must be honest, ethical, and provide unbiased advice.

  • Stockbroker/Trader

Average annual salary: From $17,682 to $741,764

A stock trader buys and sells stocks for themselves or a company. Bonds, metals, and other financial tools can also be purchased and sold by traders. Trading is a high-pressure, fast-paced career best suited to those with outgoing, dynamic personalities. Hours are incredibly long, usually beginning early to allow for the opening of global markets. Traders have little oversight, so if you’re autonomous and self-driven, this is the career for you. Traders who perform poorly will lose their jobs quickly – it’s a cutthroat environment with the prospects for high rewards.

  • Banker 

Average annual salary: $40,526.

A financial institution employs a banker. Their job is to meet with bank members (businesses or individuals) and assist them in obtaining loans from various financial institutions. They hope to earn money for the bank by charging interest rates and fees on those loans. In addition, bankers can also meet with customers for a fee to provide financial advice on issues such as capital resources and investments. Candidates for banker positions must have a bachelor’s degree in finance, economics, business, or accounting. They must also have good written and verbal communication skills, risk analysis knowledge, problem-solving abilities, and be technologically savvy.

  • Actuary 

Average annual salary: $111,030

Actuaries manage, assess, and provide financial risk advice. They employ statistical and economic theories to determine the likelihood of a specific event and its potential financial consequences. With this knowledge, they can devise novel strategies to reduce the possibility of undesirable things happening and the influence of those that do occur.

The study of uncertain events by actuaries is of particular interest to insurance and pension businesses. Still, actuaries can work in a variety of industries. They are highly qualified individuals who are frequently in high demand. Work is stressful, and you may be required to work overtime regularly.

  • Financial Analyst

Average annual salary: $83,660

Have you ever wondered how interest rates are determined or who anticipates which stocks are worth owning? Financial analysts track industry changes, government changes, economic conditions, and trade agreements. They track industry changes, government changes, economic conditions, and trade agreements. They also create incredibly detailed charts and reports, which banks then use, for businesses, investors, and the general public to make financial investment decisions.

Financial analysts must be analytical and comprehensive in their reports. They must be familiar with the market and the various financial products available. Financial analysts handle sensitive information and must be trustworthy and discreet. A degree in mathematics, statistics, accounting, or a related field is required to land a position.

  • Asset Manager

Annual average salary: $74,755

As a sole proprietor or as part of a financial institution, an asset manager works for individual customers. They are responsible for evaluating their client’s investment portfolios and keeping an eye on the stock market to make the best investment choices for their client. They also assist them in investing in stocks and other resources and forecasting what will provide them with wealth generation.

Part of the job requires a tremendous amount of time and study to make effective choices on potential investment opportunities for the client. Moreover, asset managers typically have a bachelor’s degree in business, accounting, or economics, but some employers prefer a master’s degree.

  • Accountant 

Average annual salary: $73,560

Businesses and individuals mostly hire accountants to help with financial troubles such as profit and loss analysis, taxation, fraud detection, and budgeting. Attention to detail, communication, and analytical skills are required to present complex financial information to senior management, clients, and colleagues. They overlook preparing profit and loss statements, essential information for annual reports, and other financial tasks. Furthermore, accountants can also work as forensic accountants, tax advisors, or chartered accountants.

Conclusion

We hope that these job opportunities will encourage you to kickstart your career and be enough to help you make a pick. Besides, you can never go wrong with banking.   

Because the industry is so vast, you only need to be passionate about a specific sub-sector. If you are looking for a particular role, you will need industry-specific skills. Our best piece of advice is to go for it and find your dream finance job today so you can start reaping the benefits of working in this rewarding industry.

Cary Grant
Cary Grant
Cary Grant is the founding member and Manager of Premium Websites for First SEO Paper , also owner of Answer Diary, Techvercity and Gamingversity He is a special Manager and is responsible for PR Local, the most powerful USA UK Canada, and Australia platform for Press Releases, List Your business & services, Products Market, Trending News, and Home of Premium Blogs.