Finance Career Description

Finance Career Description

A career in finance opens up a number of job opportunities in the accounting, insurance, banking and treasury areas, often in the management position.

• Accounting or controllership positions head a team of accounting disciplines in revenue accounting, cost, asset accounting, tax accounting, budgeting, payroll, collection to mention same.
• A treasury career covers a more limited spectrum of jobs in the field of cash or liquidity management, stocks and investment management, finance management, auditing, risk and insurance management, acquisition management, etc.
• A banking career includes loan and mortgage management, customer account management, investment banking and credit management, etc.

Education and Licenses

A bachelor’s degree in accounting, economics, finance and business administration or a BS degree in industrial or management engineering are often the minimum education al requirement of a career in finance.  A master’s degree is sure to open up career advancement to management positions.

There are few licensing requirement in the career with most accountants in the senor, supervisory or management levels passing the board exams to become Certified Public Accountants. The Chartered Financial Analyst Institute confers a CFA designation to those who pass their exams but most finance careers learn all there is to know right on the job.

Employment

Most career work in finance is found in the back-office headquarters, except in the banking sector. Financial managers work in every industry with most working in the banking and insurance sectors, while the rest work in credit unions, retail and manufacturing companies, securities as well as federal, state and local financial agencies.  Median salaries as of 2008 stand at $99,000 with majority in the $72,000 to $135,000 range.