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In Gerenal are most Finance Careers worth the pay in your opinion?

Im in 9th grade and I am interested in finance careers but they seem like alot of hard work crunching numbers. #career #worth #finance #pay


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Soné’s Answer

Hi Edward

It is great to hear that you are interested in a career in finance. I can assure you that numbers won't be the only thing that you will looking at all day! You will get the opportunity to work with different people in your organization, you will learn about accounting systems and technological solutions to use in your day-to-day job and you will have the benefit of applying and enhancing project management skills, just to mention a few skills and opportunities you will have.

I have a career in finance and have been involved in day-to-day accounting, audit, tax, technical accounting and deals, and also had a career lecturing accounting at a university. The field of finance is extremely diverse and you can get as specialized or as general as you prefer. The benefits in such a career are generally great when starting after studying, and your benefits will increase as you progress through levels in the organization.

Good luck with your studies and with your career decisions!!

I agree with Soné, there is so much more to finance than crunching numbers. Problem solving, analytical thinking, economics, capital markets, banking, lending, etc. It is a very rewarding and diverse career in my opinion. Becky Denton

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Angela’s Answer

Hello Edward.
I started at the “bottom” and worked my way up to the top. In the beginning, it did not pay very well but the pay ceiling for jobs in finance is pretty high & varies wildly based on factors like years of experience & education, certifications, and prior salaries just to name a few.

I found the following information on another post and thought it may be helpful for you as well:

TYPES OF CAREERS IN FINANCE:

CORPORATE FINANCIAL CAREERS – Corporate finance involves work with corporations to handle financial affairs. Some careers you might consider in corporate finance include:
• Corporate Accountant
The average Accountant salary in the United States is $80,250 as of July 27, 2020
• Stock Broker
• Financial Services Sales Agent

BANKING FINANCIAL CAREERS – Because you would be working with money and other people's finances, you should have a strong aptitude for math and likely need good interpersonal skills as well. You may want to consider jobs like:
• Investment Banker
The average Investment Banker salary in the United States is $86,000 as of July 27, 2020
• Bank Loan Underwriter
• Banking Manager

INVESTMENT CAREERS – If you're interested in money management but want a customer-focused career dedicated to growing assets, you should strongly consider a career in investment. Careers in investment include:
• Portfolio Manager
The average Portfolio Manager salary in the United States is $98,500 as of July 27, 2020
• Investment Broker
• Investment Relations Associate

FINANCE CAREERS
If you're just starting your career in finance, you will likely begin with one of several entry-level finance positions . The following careers are well-suited for those at the outset of their professional practice in finance:
• Financial Analyst
The average Financial Analyst salary in the United States is $88,500 as of July 27, 2020
• Financial Advisor
• Financial Examiner

Hope this helps!

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Stephen’s Answer

Hi Edward,

Great question, finance is indeed full of crunching numbers, but there is so much more to it than that. There is also much more value in the decision making and analysis of those numbers. As well as a lot of intercompany partnerships that you will make with different departments.

If you find that you don't have any interest in using excel, as well as other forms of data analysis software, then finance may not be for you. If you don't mind doing some crunching of numbers, but also find interest in the analysis of the numbers as well as the decision making piece that comes with finance, then it could end up being a great career for you.

A big part of finance is working with other departments to take action on the results of the month/quarter/etc. Through this you will find a lot of value in learning to make relationships with other people in the company to help make your job more effective.

I would suggest that you think about how much you love or hate working with numbers and then from there you will be able to start taking a few finance courses when you get into college or if your high school offers some electives to take. This way you can get a better first hand interpretation of what finance will be like for you.

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Nadia’s Answer

In Gerenal are most Finance Careers worth the pay in your opinion?
Im in 9th grade and I am interested in finance careers but they seem like alot of hard work crunching numbers.
I would say that while money is an important factor to consider when choosing a career, it should not be the driving force. You will find that your career could impact all parts of your life, from your life style to social circle to your mental health.
Therefore it is important that you choose a career path that lets you feel that you’re accomplishing something, that you’re part of something bigger and something that you enjoy doing. Not everyone is able to do this but you’re at a stage in life where you can make conscious decisions to get you there.
That said, Finance jobs can pay very well once you have advanced in the profession. As a starting point it may not seem that well compensated but as you advance you will see a noticeable difference.
Good luck is whatever you choose to do!

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Aaron’s Answer

Hi Edward - Finance and accounting careers often pay well, but don’t go into these professions just for the pay. Determine what you are good at and what you want to do for the rest of your life. Finance & accounting offer numerous career paths and great opportunities.

Some skills you’ll need are: ability to analyze data, strategic thinker, verbal and written communication and strong with numbers

Good luck and keep asking questions. You can learn a lot from people in the professions you are considering.

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Carmen’s Answer

The future of finance and accounting is not crunching numbers, but being a strategic business advisor. Much of the "crunching numbers" that we do now will be automated by the end of the decade. As someone else mentioned above, you will get to understand various parts of an organization, along with helping make strategic decisions. You will simply use the data to help make those decisions, along with other qualitative data.

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Tammy’s Answer

If you plan to go into finance if would help if you like crunching numbers and analyzing trends, especially when you are starting out. Being efficient in research is also important.

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Gulshan’s Answer

First off, any job is hard - if you're not good at it or if you don't like it.

So, get into a career in Finance - after making sure that is what you want to do, and you have a reasonable aptitude to start work in the line.
You should expect to learn more on the job, as you go along - there's no way you can learn everything there is before beginning to work. Money is of course one of the primary drivers, but over time you can (always) switch employers, negotiate for better pay - all based on your work. So, some of that money aspect will matter after you get a toehold in the line of work.

Also, your starting salary, your experience breadth and depth, your opportunities - will also depend on your school and what employers you're able to reach out to and impress.

All in all, I realize I'm putting a lot of conditions - but look at it another way. There are a lot of possible ways by which you can influence what you get paid, and what you work on.

You say you're in 9th grade - that is a very good starting point, and the fact that you're asking this question makes me believe you're aware of the fact that is not going to be a walk in the park. It can be pleasant though - based on your preparedness and skillset.

That said, Finance is a lot of number crunching, and trends and analyses - but that's taking a more traditionalistic view of the line. Today's accountants work on the latest enterprise software, use cutting edge analytical and visualization dashboard software, employ tomorrow's AI and ML to detect and predict trends and anomalies - all while solving client problems with creativity and integrity.

Good luck with your endeavors!

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Svitlana’s Answer

Get a CPA license! Receive a bachelors degree in accounting and then masters and then get a CPA license. My pay went up 30% after getting that license. If you work hard, it will pay off.

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