Are you interested in a career in Finance? Then, you are in for a great treat. Depending on your qualifications, skill set and experience, there are many career opportunities in the finance industry in Toronto. However, if you want to kick-start your finance career in Toronto, you must start with the right footing, which will create a perfect foundation for success in the future. Learn more about finance degree programs in Canada.
In this article, we'll reveal what it takes to start a career in finance, what a finance degree program is like in Toronto and how to make the most of your study in this exciting and fulfilling career path. Enjoy!
What is a Career in Finance?
A career in finance is a position that involves working for a company in the finance industry or in a finance department of a business that doesn't offer financial services. For example, a person who works as an accountant for a restaurant or hotel and another who works as a finance director in a bank both have a career in Finance.
It's an exciting career path for anyone who wants to explore accounting, economics, banking, and investing concepts. Most professionals in the finance industry earn higher than an average salary. And most of them go ahead to pursue career paths in consulting, which may require them to assume entrepreneurial status.
How Do I Start a Career in Finance?
To kick-start a career in finance in Edmonton, you should first learn the highly sought-after skills by hiring managers during recruitment processes. These skills include communication, analytical, detail-oriented, precision and organizational skills.
Aside from skill acquisition, education and experience are also essential for anyone exploring this industry. Therefore, even before you apply for entry-level jobs, you must have some education (usually a bachelor's degree) and experience.
Internships are one of the best ways to gain experience while pursuing a degree program in Toronto. You can also engage in school projects related to your field or seek volunteer opportunities in your chosen career path.
One good thing about internships is that they provide hands-on experience and help students develop unique skills that they may find helpful. That said, it takes determination and focuses on succeeding in the field of Finance. Here are the steps you must take to pursue a career in Finance to guarantee success.
Get a Bachelor's Degree
You don't necessarily need a degree to work in the finance industry. Depending on the role, a degree in finance could set you far apart from the crowd during the recruitment process. Your education can expose you to many opportunities for career growth.
Look For Internships in Your Field
Internships provide opportunities to get a glimpse of the finance world in the real sense. As an intern, you will experiment practically with finance principles and concepts, discover the real-world application of specific finance topics and grow your expert knowledge in the industry. In Toronto, most internship opportunities are paid, while others are unpaid and are usually seen as volunteer service.
Get an Online Course
This is another excellent option for finance enthusiasts in Toronto. Online courses are your best bet if you want to learn more about finance without enrolling on a degree program at any university. Most of these finance courses online are certification courses, while others are not.
They are generally meant for anyone that wants to learn financial terms, familiarize themselves with concepts and principles in Finance and also understand specific topics.
Although completing these courses may not be enough to land you a job, it will help you by providing the proper foundation for a successful career in finance.
Increase Your Certification
Many certification programs are organized by different schools, organizations, bodies and agencies. Some good examples are associate degree programs offered by governing bodies in the industry. These certifications boost your credibility and show the hiring manager that you are skilled in finance and can take on complex roles.
Is Finance Hard to Learn in Toronto?
Generally, it's not hard to learn finance in Toronto. However, finance degree programs could be easier or more complex depending on what you are good at. For example, studying Finance at uni may be a nightmare for you if you lack proper math, statistics, accounting and economics skills.
See if finance is hard to learn in Vancouver.
The majority of finance courses involve mathematical calculations and concepts. A finance degree program is probably not your best career choice if you detest math.
What Do Finance Professionals Do?
Ever wondered what the job of a finance professional is? These experts provide a wide range of financial services in different aspects of finance, such as accounting, banking and investing. In addition, they work as advisors, assistant distributors, resource allocators, and planners.
However, many play advisory roles by helping their clients make informed decisions regarding investment and banking options. They also help clients develop financial plans that guarantee financial stability and generate income. Therefore, these experts need top analytical and communication skills to succeed in the field.
Is a Degree in Finance Worth it?
Yes, a finance degree is worth it. It's one of the few career paths with prestigious status. If you are wondering why you should become a finance professional in Toronto, it may interest you to know that the industry has a faster than average growth rate of 7% compared to other jobs. In addition, the Bureau of Labor Statistics has projected job opportunities for finance professionals by 2028.
That's not all! Do you also know that these professionals earn an average of $26 per hour with an average annual salary of $55,000? So the industry is also one of the few where your experience and skills determine your pay and growth potential in your field.
The career path of finance professionals is not devoured of options. Aside from significant finance roles, other similar professions are suitable for finance professionals if you change your mind about growing your career in a particular field.
Other career options for finance degree holders include finance analyst, treasury analyst and investment advisor.
How Can I Learn Finance in Toronto?
There are many options for studying finance in Toronto. Your choice may depend on your career goals, budget, schedule/availability, and personal preference. However, among these factors, career goals are the most determining factor.
For example, suppose you plan to pursue a career in Finance to enable you to work in your dream organization or sector within the industry and grow in your career. In that case, a finance degree is your best option. But if you want financial literacy to enable you to leverage business opportunities, analyze markets and trends like a pro and make viable business decisions, then an online course in finance will do.
Here are some of the best ways to learn finance in Toronto
- Universities
Universities in Toronto offer a wide range of finance degrees to students after completing the undergraduate program. The program usually spans 3-4 years and may include thesis-based courses and internships.
Generally, universities offer Bachelor of Business Administration in Finance (MBA Finance), Bachelor of Science in Finance (BSc) and Bachelor of Commerce (B.Comm) with a major in Finance.
These degrees could open the door to a wide range of opportunities in the industry. However, graduates with each degree category may be eligible for specific roles slightly different from other degree types.
Discover the best universities for finance study in Windsor.
- Colleges
Colleges in Toronto offer a wide range of diploma programs in finance. The programs are usually between 1-2 years and may be online or in-person. Generally, diploma programs serve as a stepping stone into degree programs in the university.
However, that doesn't mean you can’t get a job in the finance industry with a diploma. Many recruiters prefer candidates with credentials to apply for a specific entry-level position in an organization.
- Online platforms
There are many reputable online platforms where you can quickly learn about finance and enroll on courses at your convenience. One of them is Superprof. The platform is designed for students that want to learn a wide range of skills and subjects, including finance.
The beauty of learning finance online is that you aren't restricted to the four walls of any school. On Superprof, you can easily find a finance tutor for hire. The tutors are ready to help you achieve your career goals effortlessly.
Even after enrolling on a finance degree program at the university, you may need help understanding certain concepts in finance. These tutors are up to the task. No matter your financial literacy level, there is a tutor for you on Superprof.
- Publications/magazines
This might be a perfect option if you wish to take the self-study route. You can learn finance independently if you have reliable resources like finance publications and magazines in your chosen field. Of course, this may not help you land a job in the finance industry. Still, it could help you deepen your understanding of finance concepts and principles, make better economic and business decisions and network with finance experts.
Are you prepared to kick-start your degree program in Toronto? Then, head to Superprof and find the help you need right away!
Are you in Calgary? Find the best finance courses.
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