Finance Jobs - Finance Career
Many people are drawn to money. Not just to have more of it (who
doesn't?), but to actually participate in the finance industry
and make a career out of it.
Did you know that some of the most successful people in finance
and investments never pursued finance in college? Did you know
many never even went to college? There are people who have built
successful careers in investments or the financial industry grew
and learned on the job.
Like I said, there are many branches to this tree. Accountants,
CPA's, and analysts must go through significant educational
requirements before finding finance jobs. While these careers
are built on heavy education and commitment, there are other
areas of finance that do not require stringent or specialized
education before entering the job market.
Stockbroker and Financial Advisor jobs
Stockbrokers, Registered Representatives and financial advisors
are basically salesmen in the finance industry. That is not to
demean what they do, it's actually true. Once you are a licensed
stockbroker and working for a firm, you are a phone broker. Many
of the top firms will require 2 or 4 year degrees before hiring
you for a job, but a finance or investment related degree is
usually not required. Many smaller firms do not require college
at all. They are looking for brokers with talent, drive and the
ability to communicate and persuade. If you can convince the
firm that you can earn money, you can get in. There are
successful stockbrokers and advisors who make $200,000 or more
and many of them were car salesmen, insurance agents,
collections salesmen, real estate agents etc. Training is
ongoing and most should decide after 6 months or one year
whether this is the finance career or job they want.
The downside to this career, is the compensation you earn. It is
largely, if not exclusively - commission or fee based. It's a
sink or swim finance career. It is not for everyone, but the
requirements are easier, so if you are good at it - you're all
set!
Mortgage Broker Career
When Wall Street began losing jobs in late 2000 and for several
years after, many brokers and advisors began careers as mortgage
processors or mortgage brokers. The mortgage finance industry
was booming. With interest rates low and the economy slower,
homeowners were looking to take advantage of the equity in their
homes or looking to refinance. People who were in these jobs at
mortgage companies made a lot of money. People had needs and the
environment was ripe for big business.
The problem with mortgage finance jobs is that it is a very
cyclical business and it relies on constant new business and
referrals for the brokers to earn money. If I had my choice
overall, getting a job in the mortgage broker business would be
one of my last choices. Good times are real good. Bad times are
real bad.
Insurance Jobs and Retirement Finance Careers
With the population of the country living longer and the trend
of big companies providing attractive retirement plans on the
decline, insurance agents, retirement and estate planners are
doing well. Building a finance career and getting jobs in these
areas can be very rewarding and the trends are on your side.
There are many areas of finance and investments. You may end up
being a bond broker, a trader, a mutual fund broker or something
else. The quickest way into a good investment or finance job or
career is to get a job as a financial advisor or broker. You
have to put in the time and effort, but the openings are there
and the experience you gain working with client investments will
serve you very well going forward. Either you make a great
career doing just that, or you platform that job into another
area that better suits you.
The finance industry can be tough, it is competitive and you
must stand out, but it's better than digging ditches - usually!
Good Luck!