Given the credit-crunch nature of modern economy in many parts of the world, jobs in the finance and economic sectors are abundant. As a result, choosing a finance or economics major is pretty safe. If you are one of those that are smart with numbers, many employers will seek your skills actively.
However, there are tons of jobs associated with finance and economics and choosing the best one or navigating between different jobs can be tough. To keep things simple and to help you with few suggestions, here are ten jobs in the finance and economics field.
1) Financial Analysts
Financial analysts work for individual clients or businesses to help them make the right investment decisions. To take up a career in financial analysis, you must have a bachelor’s degree in finance, statistics, business administration or accounting. If you have a master’s degree in business or administration, you will be a desirable employee among hirers.
2) Economic Consultant
Economic Consultants typically make use of research and analytical skills to study different economic scenarios. They study industry trends to make an impact on product introductions, developing and investing for corporate clients. Sometimes, economic consultants act like expert witnesses in different legal cases in order to assess economic damages, antitrust violations, and intellectual property damages and also look after regulatory violations.
3) Personal Finance Advisors
If you are a Personal Finance Advisor, you would be using your knowledge of tax laws, investments and insurance to advise on financial options. This helps individuals to meet their long-term and short-term goals. Financial advisors with a degree in finance, accounting, business, economics, mathematics or law may have the best chances of getting a job in this field.
4) Compensation and Benefits Manager
A Compensation and Benefits Manager must have the ability to think and live numbers, as their job involves evaluating options for benefits and pay. They may study different trends in the labor market or examine demand and supply for various job types. They may assess offerings from different organizations related to their industry to make a competitive pay structure and benefits.
Accountants devise plans, evaluate and recommend on matters relating to accounting practices and theories. Accountants typically require a bachelor’s degree in accounting or another related field. However, the ones with a master’s degree will have better chances of winning a job. If you managed to do some accounting assistance with a senior accountant during your college days or any kind of prior experience, this will help you during your job search.
The job of an actuary involves applying advanced statistics and advanced skills to decide the likelihood of insurance claims for death, fire accident, business failures and illness. They typically consider a huge number of variables to analyze risk profiles and make a profitable structure for different insurance policies. They may make use of different computer software for analyses, devising graphs or charts or conveying decisions to their management team.
Auditors typically study and assess accounting records to prepare financial reports for individual clients. An auditor may have to compile results for a variety of findings, conduct audit for safety, environmental or quality issues and/or review and monitor audit activities. In some cases, auditors might require a bachelor’s degree; but if you are an accountant with relative experience and advanced degrees, you still have a great chance of being hired.
8) Credit Analyst
Credit Analysts usually conduct microeconomic researches for prospective clients, to determine the risks involved in loaning funds to individuals and business entities. They also consider factors and economic trends that impact a region, an industry or a competitor of their prospective client. Credit analysts may prepare reports, summarize the results of their research and recommend interest rates, depending on the risk profile of an individual or a client.
9) Loan Officer
Loan officers help organizations and individuals in getting loans after assessing their creditworthiness. They are responsible for helping their clients in determining the most appropriate loan type, depending on his/her requirements. A bachelor’s degree in economics, finance or other related degree is mandatory for a position in this field. Experience in sales, lending or banking and computer knowledge will be immensely useful.
10) Business Reporter
Business Reporters are responsible for researching, writing and broadcasting stories related to companies, business leaders, economic developments, industry trends and finance news. They live the life of a journalist while also continuously learning modern economics. If you have always been curious about the functions of the economic world, then this job is apt for you. You must also be gifted with the ability to write on economic issues in plain and simple language.
If you are a finance or economic graduate, then the above jobs will definitely brighten your future. They are also future-proof and have great growth opportunities.