Is Finance a Good Career Path: Discover Careers in Finance

Explore Careers in Finance

From banking to investing, insurance to accounting, the financial sector offers a variety of career opportunities for students who are passionate about numbers and analysis. Finance professionals manage financial transactions, allocate resources, and assess risks. And they’re employed by businesses, governments, and individuals.

Careers in finance can be lucrative. Finance professionals are often rewarded for their expertise with competitive salaries, bonuses, and other financial incentives. They earn an annual median wage of $79,050—64% more than the median wage for all occupations.¹

The finance sector also offers stability and job security because financial services are in constant demand. Over the next decade, the Bureau of Labor Statistics projects nearly 1 million financial job openings per year.1

Certain skills and qualifications will help your students excel in financial careers. For financial analysis, risk assessment, and investment strategies, they must demonstrate:

• Proficiency in math
• Strong analytical abilities
• Attention to detail

But quantitative skills aren’t enough. For effective collaboration with clients, colleagues, and stakeholders, finance professionals must also have strong communication and interpersonal skills.

Further education can enhance your students’ career prospects in finance. This may include:

• A college degree in finance, accounting, business, or economics
• Professional certifications, such as the Chartered Financial Analyst (CFA) or Certified Financial Planner (CFP)

Top Financial Careers

The finance industry offers a range of opportunities to suit different skill sets and interests. Here are three top financial careers that your students may want to explore.

Investment Banking

One of the most prestigious and sought-after careers in finance is investment banking. An investment banker helps companies and governments raise money by:

• Issuing stocks and bonds
• Facilitating mergers and acquisitions
• Managing initial public offerings (IPOs)
• Structuring deals that meet client needs

Investment bankers must be skilled in financial analysis and modeling to provide strategic advice to clients.

Employment of investment bankers is projected to grow 7% from 2023 to 2033. Between salary and bonuses, top earners in this field take home more than $212,000 per year.²

Actuarial Science

Students who have a knack for mathematics and enjoy assessing risk may thrive in a career in actuarial science.

Actuaries analyze and manage risk for insurance companies and other organizations. Using complex mathematical models, they evaluate the likelihood of future events to help businesses make informed decisions about insurance policies, investments, and pension plans.

Actuaries are in high demand, with employment projected to increase 22% over the next decade! They earn median annual wages of $120,000, while the highest 10% earn more than $209,000 per year.³

Portfolio Management

For students interested in investing, portfolio management offers an exciting career path. A portfolio manager builds and oversees investment portfolios on behalf of their clients. This involves:

• Conducting extensive research
• Analyzing market trends
• Making investment decisions
• Monitoring portfolio performance over time

Financial managers are well compensated with a median wage of $156,100 per year. And their job outlook is bright, with job openings expected to grow 17% by 2033.⁴

Other Finance Careers

Source: Bureau of Labor Statistics¹

Career Specializations in Finance

Finance is a diverse field with specializations that offer exciting career opportunities. Let's explore three popular specializations in finance.

Financial Technology

The financial technology industry (or FinTech for short) uses the latest technologies to revolutionize the way we manage money. FinTech professionals improve traditional financial services and enhance customer experiences with technologies like:

• Mobile banking
• Digital payments
• Blockchain
• Artificial intelligence

Want to give your students a taste of FinTech? Explore cutting-edge CTE courses from Savvas, such as Fundamentals of Bitcoin & Cryptocurrency and Introduction to Artificial Intelligence. Or help your students boost their resumes with a certification prep course in QuickBooks, a leading accounting software.

Risk Management

Risk management involves identifying, assessing, and mitigating potential financial risks. The goal is not to avoid all risk, but to balance the risks and rewards of business decisions.

Professionals in this specialization:

• Analyze market trends
• Evaluate credit risks
• Develop strategies to reduce risk

Careers in risk management vary from claims investigators, who only need a high school diploma,⁵ to risk managers, who typically have a Master of Business Administration (MBA).⁶

CTE courses such as Intuit Personal Finance and Career and Financial Management can help your students build a strong understanding of financial risks and rewards. Dual enrollment courses in business and financial accounting can prepare your students for further education on this career path.

Investing

Investment professionals research financial markets and analyze investment opportunities to help their clients make informed investment decisions. They can specialize in areas such as stocks, bonds, real estate, and commodities.

The investment banker career path is well-defined. Typically, investment professionals begin as an analyst straight out of college and become eligible for promotion every 3–4 years after that.⁷

Education and Skills for a Financial Career Path

For students who want to pursue a career in finance, the right education and skills are crucial for success. Here’s what they’ll need.

Finance Degrees and Certifications

At minimum, most finance careers require an undergraduate degree in a related field. Earning a bachelor’s degree in finance, economics, accounting, or business is a great starting point.

Many employers look for applicants who have an MBA or other graduate degree in finance. Certifications such as the Chartered Financial Analyst (CFA) or Certified Financial Planner (CFP) can also open doors to better career opportunities.

The CFA credential shows potential employers that they bring fundamental knowledge of:

• Investment tools
• Asset valuation
• Portfolio management
• Wealth planning⁸

CFP professionals are also well-trained and must follow ethical standards that require them to put their clients' interests first.⁹

Want to give your students a head start on their finance degree? Your students can earn transferable college credits from a top 50 global university—right in your high school classroom—with Outlier Dual Enrollment. Choose from 100% online courses in financial accounting, business, economics, statistics, even professional communication!

Analytical and Quantitative Skills

Finance professionals must have strong analytical and quantitative skills to excel in their roles. This includes the ability to:

• Analyze financial data
• Evaluate investment opportunities
• Assess risks

Taking finance CTE courses or advanced math courses can help students develop these critical skills. Your school can even develop a finance pathway for students by mixing and matching relevant CTE and dual enrollment courses with Savvas PathMaker.

Continuous Learning and Professional Development

Getting the education and skills to break into the finance industry is just the beginning. As the industry continues to evolve, it’s crucial for professionals to stay up to date with emerging trends and new regulations. Technological advancements like artificial intelligence and blockchain are revolutionizing finance and creating new career prospects.

Finance professionals should pursue continuous learning and professional development opportunities, such as:

• Conferences
• Workshops
• Advanced certifications

These activities demonstrate their commitment to staying current in the field and enhance their marketability.

Prepare Your Students for Careers in Finance

From financial analysts and risk managers to portfolio managers and financial consultants, the finance industry offers a range of career opportunities. CTE courses like Career Exploration in Finance can help your students decide if a future in finance is right for them—making it a great first step on finance pathways.

Whatever financial career they choose, further education and strong quantitative skills will prepare your students for future success.

Check out our College and Career Readiness blog to learn more about the best strategies to prepare your students for high school, college, and beyond.

References

• 1 – “Business and Financial Occupations.” Occupational Outlook Handbook. U.S. Bureau of Labor Statistics. https://www.bls.gov/ooh/business-and-financial/
• 2 – “Securities, Commodities, and Financial Services Sales Agents.” Occupational Outlook Handbook. U.S. Bureau of Labor Statistics. https://www.bls.gov/ooh/sales/securities-commodities-and-financial-services-sales-agents.htm/li>
• 3 – “Actuaries.” Occupational Outlook Handbook. U.S. Bureau of Labor Statistics. https://www.bls.gov/ooh/math/actuaries.htm
• 4 – “Financial Managers.” Occupational Outlook Handbook. U.S. Bureau of Labor Statistics. https://www.bls.gov/ooh/management/financial-managers.htm
• 5 – “How to Become a Claims Adjuster, Appraiser, Examiner, or Investigator.” Occupational Outlook Handbook. U.S. Bureau of Labor Statistics. https://www.bls.gov/ooh/business-and-financial/claims-adjusters-appraisers-examiners-and-investigators.htm#tab-4
• 6 – “Guide to Becoming a Certified Risk Manager.” Indeed Career Guide. https://www.indeed.com/career-advice/finding-a-job/how-to-become-certified-risk-manager
• 7 – “The Investment Banking Career Path: The Complete Guide.” Mergers & Inquisitions. https://mergersandinquisitions.com/investment-banking-career-path/
• 8 – “CFA Program.” CFA Institute. https://www.cfainstitute.org/programs/cfa-program
• 9 – “Why CFP Certification.” CFP Board. https://www.cfp.net/why-cfp-certification/the-standard-of-excellence