The finance industry is always growing and evolving, making it one of the most exciting industries that you can work in. A finance specialism gives you endless possibilities when it comes to job opportunities as well job destinations too. It also prepares you for the high-level positions in business as businesses expand and look for the right candidates to fill financial positions that would ensure their success in the markets they move into. For aspiring business executives who are yet to decide the direction of their careers, here is why a finance specialism is a great option.
It Allows You to Get Necessary Experience For Higher Roles
To become a business executive or leader, you will need a lot of experience to climb up the ladder to get to the roles you would like to have. A finance specialism opens the door to getting the necessary experience required to get into a position to be hired for or promoted to a higher executive position.
For positions that may require you have additional educational qualifications, the experience gained from these lower positions can help during the application process.
Availability of Jobs all Over The World
All countries in the world have a financial sector as well as businesses, organisations, and institutions that require finance skills. Finance skills are also universal and transferable. Although some countries might require that you take exams and earn certifications before working in the financial sector and local businesses, once you earn your degree, you can work anywhere in the world.
Technology has made it a lot easier for those who would not like to travel outside their countries. There are lots of people offering financial services all over the world, which has become a lot easier compared to just a few years ago.
The ability to work anywhere in the world has also opened up lots of work and networking opportunities. Also, these remote work opportunities have made it possible for those in finance to work with big corporations overseas without having to leave their home countries.
Opportunities for Long-term Growth
The finance industry is a stable sector that provides lots of personal and professional growth opportunities. Because finance drives the world, opportunities in finance are likely to be available for a very long time. Any person with enough drive and work ethic can get into finance, be noticed, and rise to the highest positions in finance, management, or administration.
These growth opportunities also come with the option to branch out into other roles in the business sector. For example, one can transition from a finance role to a leadership role once they have enough experience and the right qualifications. The best way to transition to these leadership goals is to earn an MBA or enrol in one of the available doctor of business administration online programs offered by Aston University. These leadership positions also offer opportunities for lateral growth, meaning there are even more growth opportunities even at the highest levels of business.
It Lets Choose From a Variety of Industries
While there are positions that only exist in the financial sector, not everyone who pursues finance gets into a position in finance. There are lots of things that you can do with a finance specialism. This means that a specialisation in finance does not have to confine you to one type of industry, business or position. Instead, it gives you access to lots of different types of industries and businesses.
Businesses need qualified candidates to help them manage their investments and budgets as well as any finance-related tasks that they may need to be handled. Positions in hospitals, government organizations, schools as well as civil and other organisations are always looking for qualified candidates who have specialised in finance or hold a finance-related degree.
Additional Education Opportunities
When you work in the finance sector or any business, you are required to keep learning because the finance sector as well as all the technology that supports it in the modern world are always changing. Most employers realise the value of keeping their employees informed about the latest happenings and trends and so many of them provide additional education opportunities for their employees.
Employers are willing to fund masters or doctorate degrees for employees who show great potential. These employers understand the value you will provide once you have earned an additional degree. These agreements are mutually beneficial to both employers and employees.
High Salary Potential
One of the biggest perks of having a business specialism is a higher earning potential than other specialisms. Salaries for fresh graduates are very competitive and these salaries keep growing the longer you stay on the job. You can also increase your salary by earning a master’s or doctorate that demonstrates that you are willing to improve yourself and stay ahead of everyone else in the finance sector. These additional degrees also open up positions for better, higher-paying roles.
The pay for finance graduates is also high because of the high demand for the right candidates. These are the candidates who have graduated with the right finance degrees and who have demonstrated competencies in finance-related roles.
The high salary can also help you move up in your career, as it can help you pay for the additional degrees and certifications you need to rise to the business executive positions you crave. Even where you take on student loans to pay for a master’s or doctorate, the high salary even for a lower-level position will allow you to pay off your debt in about 5-7 years, on average.
It Opens up Exciting, Challenging and Fast-Paced Opportunities
The finance industry is very challenging and moves very fast. Positions in the finance industry or general finance are also very exciting and challenging. You should be prepared to work in such environments when you choose a finance specialism.
All the pressure that comes with working in this industry gives you an advantage when it comes to seeking higher roles. If you demonstrate that you can handle the pressure of working at lower positions where the pressure is significantly higher, deal with the day-to-day challenges that come with working in finance, as well as provide creative and helpful solutions to problems and challenges, you greatly increase your chances of getting hired if you choose to move to another business or organisation or get promoted within the organisation you work for.
It Offers Stable Career Choices
The global financial industry is evolving, and as it does, the number and types of jobs in the industry keep increasing. A finance specialism allows you to enter into an industry with a very high number of hires as well as numerous and seemingly endless job opportunities.
Also, the financial job market is seeing more companies hiring in large volumes. Although there are lots of candidates applying for these jobs, there are still enough positions for those who are qualified for them. If you ever feel the need to differentiate yourself from all other candidates, you can always take an advanced business degree, in finance or another area, to help you stand out.
Once you get into finance, you can start your upward journey in both position and salary, as we have discussed above.
Gain Transferable Skills
Finance specialisms usually teach a lot of maths, statistics, creativity, problem-solving, excel, and other skills that you can transfer to other industries, positions, or businesses. These skills can also be used in your personal life such as when planning for your future or estate.
By taking the right finance specialism, you might also gain skills that can make it easier to get into master’s or doctorate degrees that might need a demonstration of some prerequisite skills such as mathematics and statistics.
High Job Satisfaction
A finance specialism leads to roles in finance that have a higher than average job satisfaction. For example, audit managers and finance manners are considered to be the top jobs in finance with the highest levels of job satisfaction. Although a career in finance is challenging, having clear goals to work towards, as well as the immutability of facts and numbers, makes it an easier role compared to a career in healthcare, for example.
It Improves Interpersonal Skills
Business’ success relies on customer satisfaction. All finance specialisms teach the necessary interpersonal skills to interact with customers the right way. Additionally, these interpersonal skills play a critical role in your day-to-day life as a finance professional. They will help you interact better with other employees if you work in a team and can help you stand out as a leader if you can motivate, encourage or even educate fellow employees on varied subjects or topics.
A finance specialism can open a lot more career doors than most other business specialisms. A finance specialist also arms you with transferable skills, the ability to work in diverse and different positions as well as access to additional education opportunities. These and the other reasons outlined above are why a finance specialism is a great choice.
By James Daniels
Bio: James Daniels is a freelance writer, business enthusiast, a bit of a tech buff, and an overall geek. He is also an avid reader, who can while away hours reading and knowing about the latest gadgets and tech, whilst offering views and opinions on these topics.