5 Top Careers in Finance
- Market Research Analyst
- Financial Examiner
- Financial Manager
As we continue to get further out of the recent recession, many people are considering changing jobs or seeking advancements in their current jobs. Many are considering finance jobs because as long as the economy is growing, there appears to always be a need for financial professionals. Another bonus of financial jobs is that despite the unemployment rate in the country, unemployment of financial professionals is relatively low. Here are five in-demand financial careers worth considering.
1. Market Research Analyst
Market research analysts study and monitor the market; analyze data with statistical software; convert data into graphs; tables and written reports; determine the effectiveness of marketing strategies; and provide clients and management with financial recommendations and predictions. They may also gather information on competitors, sales, prices and methods of distribution and marketing. Market research analysts are expected to see a job growth of 23 percent from 2016-2026, according to U.S. Bureau of Labor Statistics (BLS) report. As of May 2017, market research analysts earned an average annual wage of $71,450.
Accountants have been around almost forever and continue to play an important role in businesses. They assess a company’s financial condition and make recommendations based on their findings. Accountants also prepare financial reports and tax forms, ensure taxes on done on time, inspect accounting books and look for ways for the company to be more cost-effective and efficient. Accountants could experience an employment growth of 10 percent during the period 2016-2026, according to a BLS report. Accountants earned an average yearly wage of $77,920 as of a May 2017 report by the bureau.
3. Financial Analyst
U.S. News & World Report ranks financial analysts 15th among best business jobs, 16th among best STEM jobs and 74th among best 100 jobs. Financial analysts assess the performance of stocks and bonds and provide individuals and businesses with investing advice. They study and evaluate past and current business, economic and financial data and trends, then meet with company officials to discuss their findings. They also examine a company’s financial data to determine its worth and financial stability. The average yearly salary for financial analysts as of 2017 was $84,300. The BLS predicts that financial analysts should experience a job growth of 11 percent during the decade of 2016-2026.
4. Financial Examiner
Financial examiners monitor the financial status of banks and financial institutions. They assess bank management, evaluate the credit worthiness of loans, prepare financial reports that detail the company’s soundness and report findings to management. Financial examiners also review balance sheets, expense accounts and loan documentation, while ensuring that all financial transactions are in compliance with lending and federal regulations. Financial examiners either work in consumer compliance or risk assessment. The bureau reports that financial examiners earned an average yearly salary of $91,780 in 2017 and also reported that these financial professionals could see a 10 percent job growth through 2026.
5. Financial Manager
Financial managers are the professionals in charge of an organization’s financial health. They monitor financial transactions to ensure legal regulations are followed; prepare business activity reports and financial statements; analyze stock market trends to seek investment opportunities; evaluate company reports to find ways to be more efficient and profitable; and meet with management to discuss recommendations. They also use their knowledge of data analysis to help the company be as profitable as possible. Financial managers are expected to experience a 19 percent increase in job growth, according to the BLS, who also reported that financial managers earned $143,500 in 2017.
Related Resource: Top 35 Most Affordable Online Bachelor’s in Finance 2018
Whether an individual is looking for a career change or hoping to advance in his or her career, it appears as though the financial industry may be a good direction to take. Financial industries will always be around and, with the right training, anyone can become part of the most in-demand finance careers.