When thinking about a career in finance we often imagine Leonardo Dicaprio in the Wolf of Wall Street. We’re going to have to disappoint you (or bring some relief, depending on how you look at it) because that’s not what happens in real life when you get a job in this sector. To get a better outlook on what to really expect, we’ve compiled a list of the most pertinent reasons to choose a career in finance.
It is a financially rewarding career
Working in the financial sector is very lucrative. As a chartered accountant, for instance, you will be in the top 5 of best paid jobs in South Africa.
Typically, entry-level jobs have a good base salary and also many options to earn big bonuses throughout the year. Overall, the compensation in the finance industry is often much more generous than in lots of other sectors.
You’re making a difference
This might not be the first thing that comes to mind, but working in the finance sector means you are doing a meaningful job. You are helping people achieve their goals by assisting them in investments, retirement plans, a loan for their house or a plan to finance their children’s education. You are the one making sure they can and will be able to handle these things. On a bigger level, you can play a big role in the smooth running of the country’s – or even the world’s – economy. You are the one with the proper knowledge and resources to provide solutions to every problem.
It’s a job with many opportunities to climb the ladder fast
Compared to other industries, financial firms put more weight on accomplishments than seniority to climb the ladder. If you’re a high performer, you will move up ranks quickly, regardless of your age. There are plentiful examples of directors at huge organisations who started as a graduate at the bottom of the company.
There’s a wide variety of roles and specialisations
The finance industry is very broad and there a lot of different roles and specialisations within all the different divisions. This means a lot of opportunities to get a job in the sector and advance until you’ve got your dream job. You could work in corporate management, personal financial planning, investment banks as well as many other intermediary companies. Building a career in financial services can also be a launching pad for accomplishments in other fields. Take Mike Bloomberg who went from Wall Street to mayor of New York City, or Martha Stewart, who went from financial advisor to media mogul.
You never stop learning
Constant innovation is commonplace in the financial services sector. Finance is driven by technology and this gives employees in the finance sector very rewarding opportunities to develop and innovate. As a finance worker you have to keep learning new methods every day, and maybe one day you’ll be the one delivering a solution that makes a huge difference in the way business is done. Ka-ching!