Even during the current recession, financial powerhouses like the City of London, or Wall Street, have continued to provide motivated and skilled workers in financial jobs with a quality of life that’s unmatched in most other sectors.
That’s down to one thing. The earning power of financial sector and banking jobs.
So it’s no surprise that even more promising young graduates are seeking to enter the financial sector. But they’re in need of guidance, which is why we’ve provided this brief introduction to financial sector, investment banking and wealth management jobs.
What is a Financial Sector Job?
Simply put, a financial sector job is any position involved in business or corporate finance. Banking, investment, commodities and sales trading positions all fall under the umbrella of finance jobs – making it an incredibly broad and attractive market for prospective employees.
But it’s this attractiveness which makes the sector so competitive for first-time applicants. Which is why it’s never been more important for them to secure the correct qualifications, and seek out the right advice on finding positions.
What Qualifications Will You Need?
Jobs in the financial sector can be extremely well-paid, and as such, competition for jobs is always fierce. So having the skills and qualifications to stand out from the crowd is crucial if you want to get ahead of the competition and secure the position you need.
A large number of finance industry workers have an MBA (Master of Business Administration) degree, which immediately marks them out to employers – but even this is not enough. Professional qualifications and licenses are a must if you’re aiming for one of the most lucrative jobs, and they include the following designations:
Chartered Financial Analyst (CFA)
Certified Financial Planner (CFP)
Certified Public Accountant (CPA)
All of these designations can be earned by completing approved programmes, either at a University while you are studying, or later in life backed by your employer.
Without additional qualifications, your career can stutter – so if you’ve got more than four years’ experience and you’re looking to move up the corporate ladder, you will seriously need to consider additional qualifications.
Entry level positions will demand much less in the way of qualifications (you should still pursue an MBA as a minimum) – but as we’re about to discover, they also pay far less.
How Much Can You Expect to Earn?
The easy answer to this commonly asked question would be this: “How long is a piece of string”?
But, while correct, that answer wouldn’t do justice to the earning power commanded by those who’ve achieved enough to rise to the top of the financial sector.
While junior-level candidates will find themselves on less lucrative, if still very competitive salaries – a junior quantitative analyst, for example, will earn around £250 per day with some companies – those at the top of the field will find that demand for their skill and experience translates to very rewarding wages.
It’s not unusual for financial sector experts to earn a …