Work-Life Balance for Finance Professionals (2024)

FAQs

Work-Life Balance for Finance Professionals? ›

Work-Life Balance FAQs for Finance Manager

It's a bit counterintuitive to enter finance and then optimize for work / life balance, but there are some very comfortable finance jobs out there. It is entirely possible to earn >$300k and work <50 hours by your early 30s if you pick your spots right.

However, the degree to which Financial Representatives achieve a good work-life balance can vary widely. It is influenced by the culture of the financial institution they work for, the expectations set within the industry, and their personal effectiveness in managing time and setting boundaries.

‍Around 50 to 60 hours a week is normal for this job. Hours may increase when significant deadlines come up (quarterly and annual financial reports).

Finance degree jobs can provide relatively high pay, stability, opportunities for advancement and consistent demand projections. Careers in finance may also offer flexibility for employees by allowing them to work remotely or in hybrid environments.

On average, financial managers rate the meaningfulness of their work a 2.6/5. While most financial managers aren't very fulfilled by their work, some people may still manage to find meaning in it.

It's an investment. Failing to generate leads can lead to stagnant growth or a decline in business. 2. The Statistics: 80-90% of financial advisors fail and close their firm within the first three years of business.

Lack Of Fulfillment

They wanted to own their time, work in the markets they liked, and solve problems with people they valued. Unfortunately, most advisors are stuck in traditional financial planning and portfolio management firms that often don't align with their values or goals.

Huge Clients Pay Your Bank Huge Fees

Bankers sell their time and attention – not a tangible product – so they need to provide it, even if a client calls at 1 AM on Christmas with an urgent request. If a bank did 1,000 deals per year and earned $50,000 per deal, the service requirements would decline.

What is the 72 hour rule finance? ›

Do you know the Rule of 72? It's an easy way to calculate just how long it's going to take for your money to double. Just take the number 72 and divide it by the interest rate you hope to earn. That number gives you the approximate number of years it will take for your investment to double.

The median annual wage for business and financial occupations is $46,310 higher than the median annual wage for all occupations. Drawbacks of a career in finance can include high stress, long working hours, continuing education requirements, and, in some cases, limited job stability.

Nurses and physical therapists for starters. Grade or primary school teachers are a close second in my experience . I have to agree with Quora User, paramedics tend to be very nice and I've never met a dentist with an attitude. Why is finding a job with nice people so hard?

The median annual wage for business and financial occupations is $46,310 higher than the median annual wage for all occupations. Drawbacks of a career in finance can include high stress, long working hours, continuing education requirements, and, in some cases, limited job stability.

The short, simple answer is: Yes, finance is still a good career path, but it will probably not be as good relative to other careers as it has been over the past few decades. If you are at a top university or business school, have the qualifications, and start early, that's fine.