September 6, 2023
Industry Sectors
If you’re considering a career switch into the finance industry, it’s natural to question whether it’s the right move for you. With lucrative salaries, growth opportunities, and the ability to make a real impact, finance can be an excellent career choice. But is finance a good career path in today’s changing landscape? Directly from experienced finance career coaches, here is the inside scoop on building a rewarding career in this dynamic field. Read on for insights into finance industry trends, required qualifications, and how to leverage resources like PathWise to skill up and open doors to new opportunities. From investment banking and asset management to insurance and corporate finance, the finance sector encompasses a diverse range of roles. As global economies evolve, demand is growing for professionals who can navigate complex markets, manage investments, and assess financial risks. Within the finance industry, some of the key career paths include: Gaining the necessary credentials is key to launching your finance career. Here’s what it takes: Despite economic uncertainty, the US Bureau of Labor Statistics projects over 900,000 job openings for financial occupations through 2032. Business expansion, regulatory changes, and retirements will continue driving demand. Fintech innovation and sustainability also present new opportunities.The Broad World of Finance Careers
Qualifications to Break Into Finance
Future Outlook for Finance Careers
With strategic preparation, you can gain a foothold even as a career changer. Our coaches here at PathWise frequently work with aspiring finance professionals to evaluate transferable skills, pursue training, and land roles matching their strengths.
Making a Career Switch to Finance
Switching to finance requires planning but can be achievable with the right guidance. Here are tips to get started:
- Identify transferable skills from your current or past roles that apply to finance like analytics, communication, sales, or leadership. Quantify achievements as well.
- Obtain necessary credentials and training. Enroll in courses to fill knowledge gaps and consider certificates or degrees that align with your goals.
- Search for transitional roles that relate to finance like operations, sales, or client services that can lead to finance-specific positions.
- Optimizing your resume and LinkedIn profile to align with finance employer needs can make you more discoverable.
- Network, network, network!** Attend industry events and connect with professionals one-on-one to create opportunities.
- Consider mentoring and specialized finance career coaching to help formulate your job search and career strategies.
Frequently Asked Questions on Finance
Still have questions about getting into finance? Here are answers to some common concerns:
Is finance a good career for the future?
Yes, demand for qualified finance professionals is projected to remain strong in the years ahead across specializations like corporate finance, investments, insurance and more. New technologies and regulations will create evolving opportunities as well.
Is finance a good major?
Pursuing a finance, accounting or business-related degree provides foundational knowledge for a career in this field. Complementary coursework, certifications, internships and networking are also key.
What are the highest paying finance jobs?
Careers in investment banking, hedge funds, private equity, venture capital and corporate executive roles tend to offer the highest compensation but also require extensive expertise.
How can I switch to finance from another field?
First identify transferable skills. Seek additional education and certificates to fill knowledge gaps. Pursue transitional roles and use sites like PathWise to network and find a mentor to guide your career change. The investment will pay off!
Let PathWise Help Chart Your Course
As you can see, finance offers diverse, well-compensated career paths both today and in the future. With strategic planning and expert guidance, you can make a successful transition.
Check out some of our wonderful podcast guests and their journey through a Finance Career: including Trevor Rozier-Byrd, Janine Hirt, and Sarah Biller.
If you’re ready to take the next step, connect with one of our certified finance career coaches. We’re here to help you gain clarity on your goals, make informed choices, and take actions towards a rewarding finance career.