Time marches on. A volatile economy ebbs and flows. Industries evolve. Professional and consumer needs change. And certain jobs once deemed essential, sadly, become obsolete.
But like the tightly-secured, brick-and-mortar vaults and super-encrypted bank accounts it serves to protect, in a world where money is critical for commerce, livelihood and survival, a finance career will never go out of style … and never go away.
A career in finance is one of the most stable and secure career paths that exist today: dynamic, challenging and ever-evolving. It’s not just about crunching numbers and handling money; it involves a broad range of skills such as communication, decision making, analysis and problem solving. But with technological advancements and shifts in the job market, some skeptics may wonder if a finance career is still a wise choice.
Here’s why it is:
Financial Management is Essential
Finance is the mechanism that allows businesses and individuals to invest, save and spend money. Without finance, the economy would be unable to function, and businesses would not be able to operate — simple as that. As such, there will always be a need for financial professionals who can manage and oversee financial transactions, investments and the financial health of organizations. This demand for financial management is unlikely to change, making a finance career a stable and in-demand choice.
Finance Offers Opportunities for Growth and Advancement
A career in finance offers a wide range of opportunities for growth and advancement. Financial professionals can specialize in areas such as accounting, financial analysis, investment banking and more. This diversity means that you can specialize in an area that interests you and build a career that aligns with your passions and strengths. And with experience and expertise, financial professionals can advance to leadership roles, such as CFO or CEO, or they can start their businesses.
Technology is Changing, but Finance is Adapting
Advancements in technology such as automation and artificial intelligence are changing many industries. While finance is not immune to these changes, it has adapted and evolved alongside them. For example, the rise of fintech has created new opportunities for financial professionals, such as developing and implementing new financial technologies. Additionally, the use of data analytics and machine learning has made financial analysis more efficient and accurate.
Finance Offers Global Career Pathways
With the rise of globalization and international business, financial professionals with a global perspective and expertise are increasingly in demand. This includes knowledge of international regulations, currency exchange rates, and cultural differences that can impact financial decisions. A finance career can offer opportunities to work with international clients and businesses, and to travel and work in different countries.
Finance Professionals Have High Earning Potential
As a finance professional, you can expect to earn a comfortable salary and enjoy various benefits such as bonuses, stock options and retirement plans. Financial stability allows you to enjoy a comfortable lifestyle and achieve your financial goals. This earning potential increases exponentially for professionals who obtain licenses (for example, a CPA license) or gain additional experience in their chosen field.
Personal Finance is Always Relevant
While financial management for businesses and organizations is a major part of a finance career, personal finance is also an important area of focus. Financial professionals can work with individuals to help them manage their finances, plan for retirement and invest wisely. This demand for personal finance expertise is unlikely to change as individuals will always need guidance and support in managing their finances.
Finance Careers Are Always In Style
The world needs financial professionals for in-demand careers that create the foundation, the backbone of our economy. Financial skills not only provide you the option to travel down one of many paths in the industry but those skills are also transferable, meaning that they segue well into other relevant career fields.
TSG is an affiliate office within The American Association of Finance & Accounting (AAFA), which has been helping financial professionals align with the best finance roles through a strong, nationwide network of 40 metropolitan search firms across the U.S. and Canada.