Meanwhile, accountancy is often seen as a more “boring” finance job but also a secure choice, as there are many different avenues that a qualified accountant can pursue as a career. Those in some areas of banking such as trading, for example, are often fearful of their job security due to world events. Is finance a stable career long term?įinance may be seen as one of the most stable career options, but it’s worth reflecting on the fact that this can change due to economic challenges across the globe, and certain paths within finance are more stable than others. Some of the best paying career paths however include the likes of investment banking this sector can offer entry level salaries of $100,000+ in the US and rise quite significantly within a few years. Entry-level finance positions can pay less but are still higher when compared to other non-finance career paths. US-based financial advisors can expect to earn an average of $94,000. The average salaries of other roles in finance are:One of the highest-paid financial positions is Chief Financial Officer, with an average salary of over $421,000. However, this data is gathered using a huge variety of positions, some of which have very high salaries and some much lower. The average finance salary in the US is a little over $92,000. The salaries in finance can vary quite widely based on the role you take on. On the other hand, these roles can be repetitive and boring, rather than giving you the excitement you may want in your career. Naturally, there are some jobs in finance that are less harshly affected by the economic climate, and where consistent upskilling is not necessary – these can afford more security. Economic conditions may impact how secure your job is, especially in banking and similar roles. And, because the sector is impacted so keenly by world events, some roles can have less job security due to certain happenings globally. Keeping skills and education consistently updated can make it even more challenging to “switch off”. The finance sector evolves and changes almost daily, and the need to keep your finger on the pulse can be difficult. The sometimes long hours and high-stress roles can cause burnout quickly, and fast career progression can sometimes come at the cost of personal relationships and outside interests.Īnother added stressor is the fast-moving nature of the industry itself. Trying to find a work-life balance can be challenging, both at the early stages of your career and as you progress. Working in finance can be a fantastic career, but it’s not without its downsides. Are there downsides to working in finance? With so many careers available in this area, there are always opportunities to find something new and exciting, and both public and private sector financial roles can give a good amount of job security. For example, you may find that you are managing and investing large sums of money, buying and selling company businesses, or supporting the financial management of major organizations. Opportunities to build skills in the finance sector as well as further training are often provided, and you can find a variety of fascinating positions in the industry. There are also many opportunities for progression which can happen quickly. The finance sector entices many young professionals due to the high salaries on offer, with some finance positions being among the best-paid jobs in the UK. What are the benefits of working in finance? What skills & qualifications are needed in finance?.Are there downsides to working in finance?.What are the benefits of working in finance?.
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