Finance is a field in which some of the most educated college and university graduates pursue. As the name suggests, finance is all about helping companies and individuals to grow and plan their financial portfolios. Someone that works in finance may find themselves working in banks, investment companies, large companies, government institutions, or other corporate firms.
Those that study the field of finance may do so at the college or university level. College level finance courses may focus on the practical side of the job, and equip you to work in service related banking fields. You will build upon your applied mathematical knowledge, practice problem solving, and better understand the range of careers available to people with diplomas or certificates in the finance field. University graduates will study finance more comprehensively and for a much longer period of time. They may earn degrees in commerce, business, accounting, and possibly even combine their studies with law. If you love learning and working in the financial field, you may even return to earn a Masters of Business Administration, which will prepare you for leadership roles in business.
Whether or not you choose to study at the college and university field will ultimately be determined by your long term goals, your strengths as a student, and your budget. And while university or even college level finance studies can be rather costly, remember that you are investing in your future. As a finance major or student, you will also gain valuable knowledge that can help you better understand how you can manage and grow your own wealth.
On the topic of long term goals, you are probably wondering what types of jobs or careers you want to set your sights on. Finance is a broad field, with so many career pathways to choose from, all requiring distinct qualifications and certifications to get started. This article is all about finance careers - what they pay, what jobs look like right out of school, and how you can become a leader in the finance field. Let's get started!
Finance is a broad field of work that attracts thousands of Canadian students every year. Find out if the world of finance is right for you.
What Do Finance Jobs Pay?
One of the reasons many people get into finance is that you will likely have a reliable and steady stream of income, that may even exceed that of the average Canadian. If you are looking to build a career that will lead to a high salary, keep in mind that finance is a vast field with different ranges of pay. How much you make depends on factors such as the demand for professionals in your role, the level of expertise you have, where you work, and which organization you work for.
While there are a lot of variables at play when it comes to determining your salary, there are also conditions that could enable you to significantly increase your income. For example, as a finance major, you will be equipped with knowledge about the financial markets that you can apply to your own personal investment strategy. In other words, you should be able to make sound decisions about your own personal investments and be better prepared to take risks. There are other ways to increase your income - starting your own investment company, for example, or taking on a leadership role in the organization you work in. Getting to that higher level of pay, however, will take experience and time in the workforce.
Here is a list of some popular jobs in finance and the range of salary you can expect in Canadian dollars.
- Finance Intern: $45,900
- Financial Analyst: $60,000-$70,000
- Accountant/Controller: $71,000-$90,000
- Financial Advisor: $57,000-$67,900
- Financial Support Officer: $84,000-$101,000
- Financial Services Manager: $30,o00-$40,000
- Investment Analyst: $70,000-$110,000
- Account Executive: $75,000
- Business Manager: $87, 503
- Hedge Fund Manager: $162,000
Public finance is an area of commerce that many often overlook because it often does not align with our initial preconceptions of what a finance career should look like. Learn more about the field of public finance.
What Are the Best Paying Jobs in Finance?
The best paying jobs in finance are usually in certified accounting, investment banking, leadership, and lucrative areas like hedge funds. To get a shot at these jobs, you will need a university degree at a minimum, in addition to experience in the field and a strong professional network.
Going to a highly regarded business school can do wonders, as you will learn the foundations of the field while getting valuable field experience and networking opportunities. If schools like Wharton or Columbia are a little to out of your league, check out schools like they Ivey School of Business or the Rotman School of Management. To get into these top business programs, you will need strong communication and mathematics skills.
Once you have a business degree or an MBA from a top school, you may still find that you have to start at the entry level before getting ahead. This can mean long hours on the trading floor, late nights at the office, and a lot of sacrifice to your personal or family life. The rewards? You will not only be rewarded financially, but be part of the lucrative and exciting field of business. You will be surrounded by other like-minded, ambitious and highly educated individuals that will help you to become better at what you do.
The corporate world brings to mind sharp suits, long hours, and greedy capitalists.. And while our impressions are largely drawn from fiction, there are elements of the corporate lifestyle that are certainly intriguing and appealing to those interested in business careers.
What Are Finance Entry Level Jobs?
Where you enter the financial industry will largely depend on your educational background. Some will start as an intern in a large corporation, while others may start at banks learning the basics of financial services. Starting out in the finance field, like many other professions, may require you to put in a lot of time on the job. You will need to invest in a professional wardrobe, and learn how to navigate the politics and processes of large companies. Depending on your interests, you can start work in finance in a variety of different industries: government, traditional banks, tech companies, retail, insurance, or not-for-profit. While you may feel like the pay is low given your educational background, remember this is just the beginning and through hard work you will eventually find yourself making a higher salary in a position of responsibility.
Here is a list of some entry level finance jobs.
- Assistant Finance Analyst
- Finance Intern
- Entry Level Banking Role
- Entry Level Accountant
- Financial Analyst
- Loan Processor
- Assistant Financial Analyst
Having knowledge of personal finance can be incredibly useful. Understanding how to manage your money will help you to make better decisions with your earnings, and you may even be able to help others with your skills.
How do you Get Finance Manager Jobs?
Getting a job as a manager or a leader in finance takes more than knowing the field or having a great education - though those elements can certainly play a role. Being a manager means having the talent to lead and inspire others, which is a skill acquired through years of experience. You must understand what motivates others, how to transform teams, and how to push a collective toward a common goal. You can hone these skills through management courses, which you might take after you enter the workplace.
With the right skills in place, you will also need to use your ability to navigate an organization to become a contender for leadership or management roles. This means taking initiative and letting your work shine, getting your name in front of the right people, and having the right level of expertise to succeed in a high stakes job interview. Don't be discouraged if you don't score your dream management role right away - sometimes it takes the right combination of practice and timing to get the right opportunity!
Finance is one of the most lucrative and rewarding professions in Canada. Those that work in finance may pursue a variety of different career paths in corporations, banks, government, and private firms.
Where Can I get Help in My Finance Studies?
Are you on your way to finishing a degree or certificate in finance and need a boost? Taking a course in a certain area of finance like securities and need help preparing for a qualification or certification exam? Your best next step might be to hire a private tutor.
Private tutors in the field of finance are excellent if you are looking to pass a course, need a strong math grade, or simply want to kick butt in your exams so you can have a competitive transcript. A private tutor can work with you to review and demystify challenging math concepts, understand endless business terminology, or even help coach you through interview processes for internships or graduate studies. A tutor can work with you for as long or as little as it makes sense for you, at a rate of pay that you can afford.
Finding a tutor is easy thanks to the Superprof site. Visit Superprof Canada to browse dozens of potential business finance tutors from all across the country. You can work with them online, or safely in person if it is convenient. Message prospective tutors directly through the site, and pay them safely through the platform when you make an arrangement that works with your schedules. Find a tutor on Superprof today!
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great information i got from this for sure