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Is looking for a career in personal finance a good idea right now, or are there a lot of people looking for jobs like that making it hard to be successful in it?

I am #undecided in in my major and have been searching different career pathways. Personal finance seems like it could be a good fit, but a lot of people I know are majoring in it.

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Subject: Career question for you

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Ken’s Answer

Hi Naomi!


Here is some insight into the area:
http://business.financialpost.com/personal-finance/why-you-should-study-personal-finance-not-shakespeare
https://www.k-state.edu/careercenter/students/exploration/majorin/financialplanning.html
http://www.bls.gov/ooh/business-and-financial/personal-financial-advisors.htm


Here are some fun exercises that might help with the career decision:
https://www.themuse.com/advice/the-most-useful-personality-quiz-youll-take-this-week
https://www.themuse.com/advice/14-free-personality-tests-thatll-help-you-figure-yourself-out


When you narrow down what you want to explore, it would be good to talk to the head of alumni relations at your school to arrange to talk with graduates of your school working in specific areas so that you can see what they actually do, how they got there, and how you feel about what they are doing. Comfort level and sense of accomplishment are very important thing to look for in a career.


Also talk to you school counselor about coop, intern, volunteer, and shadowing programs that will help you to see the inside of jobs.


Best of luck! I would like to follow your progress.

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Donald’s Answer

It depends on what you want to do with it. There will soon be a shortage of financial advisers estimated to be around 50,000. In addition, because they want people with lots of investable assets the current FA's are not serving millenials who research says want expert advice. So there is and will be a demand. Keep in mind that these are "sales" jobs and can be stressful.

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R. Scott’s Answer

If this is what interests you and you are good at it, I think it can be a great career. I don't think there are too many people in this career, probably similar to other finance options. I assume you mean you want to be a stock broker, Life Insurance Agent, or personal financial planner. I personally like Northwestern Mutual https://www.northwesternmutual.com/.

Thank you comment icon Thank you! This is really helpful!! Naomi
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Bill’s Answer

This is the type of career that many people are interested in so I don't believe now is any worse or any better than any other time. If this is something you are interested in and, as you say, it is a good fit you should pursue it with passion. Don't worry about who else is majoring in the same field, just work hard and set your self apart and you will be fine. Good Luck!

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