Whether you’re a recent graduate or you’re considering a career change, there are many benefits of working in finance. From an impressive starting salary to fantastic career progression opportunities, below we have highlighted just a few great reasons to consider this industry.
There’s a broad range of roles and specialisations
Businesses will always need finance professionals so there’s no chance of the role becoming obsolete – even as technology continues to advance. This means that there are plenty of opportunities for growth and if you’re willing to put in the work, it’s possible to go from a junior position to an executive in just a few years.
As well as job security, finance is broad and each sector has a range of divisions so it’s not uncommon for those working in the industry to try different specialisms throughout their career or move into other lines of the business. This means that there are plenty of opportunities to expand your skillset and progress your career.
Say for example you start out as a bookkeeper or accounting technician with a Level 4 qualification from the Association of Accounting Technicians (AAT) or the Institute of Certified Bookkeepers (ICB), it’s often possible to progress to membership of one of the major accounting professional bodies.
This can include the Institute of Chartered Accountants in England and Wales (ICAEW), the Association of Chartered Certified Accountants (ACCA) and the Chartered Institute of Management Accountants (CIMA). From here, the sky really is the limit. Research does in fact show that 25% of the top 500 companies in the UK have a chartered accountant as their chairman or managing director.
Jobs in finance pay well
According to the Higher Education Statistics Authority (HESA), graduate salaries for those who left university in 2015/16 can be as low as £16,500. Even for those just starting out in finance, jobs across the industry usually pay above average wages (between £21,000 and £24,000).
Those who choose to progress up the ladder and become a qualified accountant can expect to earn significantly more. An experienced chartered accountant can command as much as £250,000 a year.
As the world’s economy becomes increasingly integrated and technology makes overseas communication easier than ever, the potential for finance professionals to travel or transfer abroad is huge.
Most employers in the finance industry are more than happy for you to continue your education while in employment. They may even fund extra qualifications or specialised training which will enable you to increase your professional worth and develop your existing skills and knowledge.
Accountants are always in demand
All companies, no matter their size, require the knowledge and services of a bookkeeper and accountant. As long as you deliver your work on time and to the required standard, chances are that you will always be in employment.
If you’re considering a career in finance or would like help finding your next accountancy job, get in touch with Choralis Consulting and we will be more than happy to help.