Any career in finance comes with an understanding of finance, which puts those in the field already well ahead of their peers when it comes to saving money, but there are many other reasons that pursuing an education in the field is appealing to so many individuals.
Financial analysts utilize a wide array of tactics and tools to inform businesses and individuals who are making major financial decisions. They tend to do so by looking at past and present trends in the market and utilizing predictive analytic software to make defendable recommendations regarding stocks, bonds, and other types of investments.
In addition to the aforementioned vast knowledge of money, here are 5 other reasons to pursue a job as a financial analyst.
A Sound Investment
As the profession revolves around investments, it’s fitting that pursuing a degree in financial analysis will get your student loans paid pretty quickly, as the average salary for financial analysts was upwards of $60,000 per year. It is a demanding job, so perhaps not the best job for someone looking for an easy paycheck, but for those looking for a hard-earned one that has a lot of potential for quick growth from midlevel to senior management.
In addition, the Bureau of Labor Statistics predicts that job growth is expected to be more than 10% over the next decade, meaning options to “move up” with another company are also aplenty.
Options to Change
One of the reasons many people choose to avoid the business world, is the threat of the mundane. Some office jobs do, indeed, stay pretty much the same from day to day and year to year. While some jobs within the umbrella of financial analysis could prove to be repetitive, the fact that there are just so many different jobs means making a change isn’t nearly as large a decision as it might be for someone in a profession without many different options.
No matter the political or financial climate of the United States, people are going to care about their money and are going to want people around them who can help them make wise decisions with their money. Financial analysts can make nearly seamless jumps from working in corporate settings, to non-profits, to investment agencies, or individual advisors. All of the jobs are very different, as far as interactions with others, but the professional knowledge sought out by the people paying you remains the same.
Though any good financial analysts bases his or her decisions on years and years of data, any time you’re making a decision that involves large sums of money, it’s exhilarating. There is, of course, a line to find between exciting and too stressful, but if you have a penchant for thrills, they come frequently in this profession.
You also need to be good with people, which can be alluring to some and exciting for others just like the high-stakes feel, but if you like communicating, and learning personalities so you can get inside their heads when helping them make decisions, this job offers those interactions frequently.
As mentioned before, people will always care about money. For those individuals just deciding what paths they want to take in life, but are afraid their desired industry might change or even disappear, financial analysis is a safe bet. The financial industry, as a whole, is also growing steadily, meaning more and more people are seeking out professional opinions regarding their investments.
The only glaring con in a career in financial analysis is the fact that you will be working a lot. That work tends to pay off and then some for those individuals willing to put in the work, though, and the excitement, security, and life knowledge regarding money make financial analysis a great career option.