Abdulwahab
How quickly is the Finance field growing?
How quickly is the Finance field growing? #business #finance #accounting #financial-analysis
4 answers
Elaine Chaw
Elaine’s Answer
Adding on top of the 2 comments made, you might want to identify your interest in within finance or accounting, as these 2 industries has different prospects.
The difference between finance and accounting is that accounting focuses on the day-to-day flow of money in and out of a company or institution, whereas finance is a broader term for the management of assets and liabilities and the planning of future growth.
Scope:
Accounting: tracking and reporting flows of money and ensuring compliance with best practices
Finance: mainly responsible to support in decision-making such as investment, divestment, cash management, Working capital management etc.
Job careers vice:
Accounting: Accountant, Auditors, Bookeeper, Tax Manager, Fund Accountant, Valuation Analyst or Financial Reporting Accountant
Finance: Financial analyst, investment banker, financial examiner, personal financial advisor or money manager. You could work in consulting or corporate finance. Banking and insurance underwriting are also open to finance majors.
Parshva Sanghvi
Parshva’s Answer
Mariana Talos
Mariana’s Answer
A career in accounting has the potential to afford you that lifestyle.
The median annual salary for an in 2016 was $68,150, according to the BLS.* In fact, the BLS reports that the top 10 percent of earners made upwards of $120,000—not bad when compared to the national median salary of $37,040. Additionally, many full-time accountants receive great benefits such as healthcare, vacation time, retirement plans and more.
Aijaz Pasha
Aijaz’s Answer
Every major central bank since 2007 has engaged in some form of monetary stimulus including but not limited to Quantative Easing. The implication is that more money has been printed than in 'normal' cycles; more money translates to more opportunities for the management of assets & liabilities as asset 'bubbles' inflate. So yes, finance is a field that is growing in scale.
However, finance has become heavily regulated increasing the costs in Legal, HR, Risk, operations and Technology BUT reducing risk appetite for capital intensive activies such as Trading or lending.
Finance is growing but necessarily for the better.
Finance can be a challenging and high pressure field but it is very rewarding. I would suggest doing an internship to see if it is something you like first as this is your career and the most important thing to find out in my opinion. I got bachelors degree in finance and did an internship. It can be an industry that pays very well but at times you can have times of unemployment as sometimes businesses have layoffs or close down and struggle as its very competitive market. It is very rewarding though as I am an underwriter for the government currently and I take great satisfaction in helping people qualify for a home loan. This is the biggest purchase normally of someones life and its awesome to help them get their dream home. Good luck.
Brian Downey