What Do Financial Advisers Do
If you’re looking for a strong career that can set you up for future success through the long-term, it’s hard to go wrong with the banking and finance industry.
That said, you may be asking yourself some fundamental questions, such as, What is finance, what qualifications do I need, and where will my career take me? Guess what? All of those are good questions!
Let’s take a look together to discover all you need to know about a career in finance and finance planning. We’ll look at job opportunities, necessary finance courses, the outlook of the industry, and more.
What is Finance?
Finance is the study of the management of money. Within the finance major, students will find themselves learning how to make a budget. Moreover, they will discover how to analyze a budget to suggest future investment options. More specifically, finance majors delve into subjects such as Financial planning services, Asset and risk management, Forecasting, Budgeting etc
As a career path, finance offers significant earnings potential spread across a wide gamut of industries. You might immediately be of the mind to astutely ask, “But what about the recent recession in some parts of the world?”. While a fair question, the truth is this: The banking and finance sector has seen growth despite global economic uncertainty. Regardless of your precise interests, it’s proven to be a strong field for students looking to the future.Students considering a finance career have strong reason to be bullish on opportunities. This is because finance offers a wide variety of job prospects across a narrow focus. In short, this means that even with a strict focus, you’ll still be able to enjoy a diverse range of job opportunities that include careers in the following areas:
• Investment services
• Financial planning services
• International financial management
• Corporate management
• Insurance companies
• Investment banks
Private banks and credit unions
And that’s just a taste. Wondering if any particular kind of individual may have a “leg up” in pursuing a finance career? It’s a valid thought, and here’s the answer: The field of finance is personality driven. After all, it’s not just all about understanding numbers. Those that are naturally outgoing and able to hold a conversation are most well-suited for this field.
What Qualifications Do I Need?
Those looking to jump into the Australian finance sector must engage in a range of finance courses.
Fortunately, today those looking to study online may gain access to many of these qualifications and finance courses through the Internet. A good starting point is a Certificate IV in Credit Management. This course of study provides the minimum requirements for entry into the credit management industry, while those looking for a dual qualification may consider the finance courses found through the Certificate IV in Financial Services and Diploma of Accounting path.
Alternatively, those ready for something more advanced might turn to a Diploma of Finance And Mortgage Broking Management. This acts as the industry standard qualification for mortgage brokers, and preps students for work with a bank, credit union, mobile lender, or with a mortgage broking franchise. Alternatively, students will also be equipped to start their own mortgage broking and/or finance business.
Those future finance managers looking to study online and gain graduate-level knowledge might also choose to further their education with a Graduate Diploma in Taxation.
“The field of finance is personality driven. After all, it’s not just all about understanding numbers. Those that are naturally outgoing and able to hold a conversation are most well-suited for this field.”
Where Will My Career Take Me?
The world is changing. Future finance managers have much to look forward to when it comes to Australian financial technology. Specifically, banking is becoming digitized. Moreover, the on-demand economy of the Internet is helping to promote finance technology startup companies. These companies are increasingly offering software that provides financial services in new, more instantaneous ways than ever before. This innovation is disrupting the financial sector and creating exciting new opportunities.
Regardless of how this technological innovation plays out, rewarding careers within the finance field are already available for those students looking to apply for a job as a financial analyst, financial examiner, financial manager, personal financial advisor, et cetera. The reward for these jobs? Average annual salaries tend to range from $85,000 AUD to $137,000 AUD.
When considering the broad number of job opportunities within a narrow focus that’s available to prospective finance students, it’s clear that the future is bright. The high average annual salaries in Australia coupled with the ripe opportunity for advancement and the explosion of startup innovation only bolsters this outlook.
With a little hard work and some savvy choices, your career in finance will take you far!