Pursuing careers in finance is one of the best choices to make as the pay is quite high and growth opportunities are also very good. Once you have completed your education, it is necessary to know which the best entry level finance jobs and careers are; so that you can focus your efforts in that direction. This post is about the same.
The finance sector is on a new high despite the ongoing economic slump. That is the reason it continues to be one of the most sought after sectors for newly qualified graduates.
Everyone knows the graduate salaries are maximum in this sector, sometimes even more than two to three times greater than what fresher earn in other sectors.
The growth opportunities are also immense as an entry level finance individual can go on to become the CFO of the company and in some cases even the CEO. Owing to these significant factors, there is an increased rate of competition for jobs.
To make sure you put your foot in the right door, having knowledge of the best career paths is very important. Here are some of the most rewarding entry level careers in finance for you:
Investment Banking Analyst
The finance sector is expected to hire more investment banking analyst than any other profession in the near future.
If a high bottom line salary is what motivates you the most a career as an investment banking analyst is the ideal choice.
The career has a median salary $73,000 and gives you the chance to apply your skills in clearly defined financial sector.
Skills like the ability to work with Excel spreadsheets, interpreting financial data, studying economic trends and offering actionable investment advice are essential to the success of your job.
As an investment banking analyst you will be dealing with a wide variety of clients such as wealthy investors, government agencies, and hardened businesspersons.
For those who are inspired to forge a career in investment banking this role is perfectly suitable. However, all entry level positions are overwhelmingly competitive and require intense hard work along with a slice of luck.
In this sector, financial analyst is one of the most coveted careers. In the wake of the rising economy every firm requires analysts who can study the macroeconomic and microeconomic conditions along with the company fundamentals to make informed and intelligent decisions.
Their advice forms the basis of many important actions such as buying and selling of company stocks based on the current and predicted value.
In order to follow this career one needs a management postgraduate degree with specialization in Finance.
The graduation should be in any accounting, math and business courses.
The optimum combination would be pursuing a graduate course in accounting followed by a MBA in Finance management.
The best thing about the job is that it is easily accessible to those without any prior experience in the industry.
The median annual salary is $60,000, as per the figures provided by Glassdoor.com.
Junior Tax Associate
Every business needs a professional who can advice on various important tax implications and laws of the land.
Since there has been a growth in business lending, expansions and merger & acquisitions the demand of some financial services like those associated with the taxation has risen considerably.
A junior tax associate or tax assistant is an entry level position whose main task is to assist and support the senior tax consultants while ensuring compliance with the tax professional standards and ethics in tax assistant functions.
The role of junior tax associate is perfectly suited for a fresh college graduate looking to develop valuable work experience in the financial service sector.
The salary might not be the best in the industry (USD$53,000 median annual). With an education background of accounting such as a bachelor’s degree in accounts or any other additional financial certification is entirely appropriate for this career path.
Also known as investment managers, these professionals are responsible for implementing a fund’s investing strategy and managing its portfolio trading activities.
Fund managers are responsible for managing the funds that you invest in. Fund manager can be a firm as well as individual who direct fund management decisions.
The profession is a part of the US $58.3 trillion industry (2011 figures).
Fund managers get paid in terms of the percentage of the fund’s average assets under management.
Individuals engaged in fund management should posses a high level of educational and professional credentials.
Although there are not many independent fund managers jobs for entry level graduates, those who want experience can volunteer to work for big fund management firms or apply to unpaid internships.
Once they gain enough experience and investment managerial experience to qualify for starting individual practice.
An experienced fund manager should possess good understanding of the macro factors about which company to invest in.
These individuals are responsible for determining the value of a business enterprise or the ownership’s interest.
A valuation analyst should posses’ comprehensive understanding of accounting, taxes, finance and economics.
In order to become a certified valuation analyst one must have a CPA (Certified Public Accountant) certification.
Having a strong mathematical background is one of the biggest requirements.
Although there are a good number of entry-level opportunities applicants might have to remain patient for long-term growth.
In order to land these jobs, role-specific competency is the biggest requirement.
The salaries paid are in the range from hundreds of thousands to millions of dollars, and therefore companies cautiously assess the candidates on scale of talent and skills.
Even if one has a medium level education background, ability to work in real-world situations, handle pressure situations, communicate effectively within the team and translate industry jargon to clients are some skills that helps one in their endeavors to find that perfect entry level finance employment opportunity.
Now You Try It
I hope you can see the potential of entry level finance jobs.
Yes, it takes hard work to do something great.
But with this knowledge you already know ahead of time that your hard work is going to pay off.
I want you to start working on your skills.
Let me know how it works for you.
If you have a question or thought, leave a comment below and I’ll get right to it.
About the Author: Saurabh Tyagi is an expert writer having interest in diverse topics like education, technology, career and Web 2.0. He is a social media enthusiast and a self-confessed gadget-freak, who loves to follow the latest happenings in the tech world. His above article discusses about career opportunity in finance industry.