The finance industry can be a fiercely competitive field to break into. It's famously known to be one of the highest-paying industries. Those at the top deal out with six or seven figures salary and several bonuses. Entry-level employees can earn comparatively higher pay than those in the other fields.
Sometimes, you may not land your dream job in finance directly, but the field is vast. Once you get into this field, you have plenty of room to find your niche. The thing you should be fighting is to get your foot at the door.
Tips for finding finance jobs
Before plunging into the best entry-level finance jobs, let's first deal with tips for finding the jobs. You will know about the job and how to get it in the end. The U.S Bureau of Labor Statistics estimates a growth of 8% in finance jobs by 2030. Here are the best tips for finding a finance job as a decent graduate.
Familiarize yourself with the available opportunities. There are plenty of opportunities in this field. You can have better options than just becoming an accountant with an accounting degree. To secure a well-paying job, you have to explore all the options available and pick the best. It should fit your preferences and expectations. As a result, you will enjoy your career in this field of diversity.
Go for a job that fits your background, interests, and skills. Even though all finance jobs deal with numbers, it doesn't mean they all offer the same experience. Here, you have to consider personal interests like working alone or in groups. You also have to choose between a hands-on or either a theoretical approach. These points will help you narrow down that specific job right for you.
Have a thorough understanding of the position requirements that you are seeking. Finance jobs need extra certificates apart from a college degree. Some companies will take you through an internship program before they employ you. Do you feel ok with the period stated for the internship? Understanding the position requirements will help you be sure of your choice.
Take time to craft a personalized cover letter for the finance jobs. Ensure that the cover letter is not narrowed down to specific positions. Review it to add more details about new experience and qualifications if possible. It will help you have a variety of options to work with. A cookie-cutter approach doesn't work nowadays in this competitive field. If you need professional help, the best option is to hire a cover letter writing service. Professional writers know what it takes to impress the recruiters so it's good to rely on them for this part of your job hunt.
Finance jobs are richly rewarding. They offer great pay and growth potential. With the field being competitive, it may take some time to find the job of your dreams. But at least you can find a decent job. The lateral moves and care shifts are part of this field, and you should expect the same if you have to land the best-fit job.
If you are new to this field, you may get surprised by the breadth of the available finance jobs. Most entry-level jobs have a lot of similarities with academic qualifications. The actual day-to-day work and duties sometimes may substantially vary. These are the best entry-level finance jobs as you begin your job hunt.
Most finance jobs are built on accounting knowledge and skills. But this doesn't mean their need for general accountants is nowhere to be found. Accountants work in accounting firms or on the payroll for various companies. The best example, in this case, would be banks and other financial institutions. They work as independent contractors with the company or individuals alike.
You generally need a bachelor's degree in accounting or a business-related field. It's the most and the best qualification that most firms look for. A Certified Public Accountant license is an added advantage. It will help you secure the best-paying entry-level positions.
The average salary is $56345 per year in the United States. Your job as an accountant will be reviewing ledger accounts and keeping financial records track. You will also assist the firm with internal budgeting and keep track of the annual earnings and expenses.
Have you ever thought of working as an independent contractor? If yes, then a tax associate is the best entry job. With professional knowledge in local, state, and federal tax laws, you can work in accounting firms and other companies.
Like most tax associates, you will need a bachelor's degree in accounting or finance. An MBA is a boon when applying for this position. Tax associate jobs are comparatively higher as most organizations deal with pay tax.
You can secure a hefty income of around $61,750 annually with just one year of experience. That sounds cool. Right? Your responsibilities are just simple. That's if you have invested well in gaining the relevant knowledge. They include finding ways to cut the tax liability of a company. That's through appropriate deductions and adjustments. As a tax associate, you will keep records and use financial software to file tax payments and returns.
Ever thought of working for big investment banks or jobs on Wall Street? Well, working as a financial analyst there may offer the best experience. In that case, you must have a great track record of the activities you have participated in while at college. Most of the companies are interested in the kind of person you are.
As a financial analyst, you will enjoy interacting with different investment markets and identifying the best stocks. You will also look for the best bonds and other investment vehicles that suit the bank's needs. It's a perfect job for an entry-level position as it helps you build networks. And that sounds cool for job security.
You can secure a job in an insurance company or securities firm with the connections built. In this case, you will operate in both buy-side and sell-side investments. Sometimes, the work may get a bit “friendly” when working on research or media jobs. With an average income of about $85,600 and a few compensations, you can easily foot your bills.
Credit analysts receive an average salary of $64,500. They access customers' credit applications. If you are the kind that likes dealing with lots of customers, then being a credit analyst is best. Many people are flogging financial institutions for a loan to advance their activities. And guess what, that means more demand for credit analysts to fit in this position.
Worried about job opportunities? Well, you don't have to. That's as long as you have polished academic qualifications and great research skills. You find your space in banks and equity firms' wide array of opportunities. If it's well with you, you can also work for asset management companies spread across the country.
The responsibilities of this position are just simple and rewarding in the long run. You are not only working to earn a decent salary, but you will also gain experience in market operations. A knowledge that can propel you in a tough economic crisis. Does it get better than that?
An advanced degree opens more opportunities for the people working in this field. They also have higher growth potential and high starting wages. This is easily attainable as long as you have the passion for this career.
If you have ever actively searched for finance jobs, you may have come across data analyst jobs. They are popular and well-paying jobs. As a lover of technology, then this is an ideal calling. The job will perfectly match your expectations, and you won't struggle to catch up. The skills needed are just obvious. That's the collection, organization, and analytical skills. Pretty simple!
Imagine how cool it is to spot patterns, produce reports and share your insights in a collaborative environment! That's if you are monitoring marketing and social media campaigns. There is a lot of room for creativity, and you won't get rut because of using the same method now and then.
With a salary range of about $51,000 to $65,000, you will enjoy your entry-level job. The best thing about the data analyst position is that you can work from the comfort of your cave. That's a nice opportunity to keep your savings for another use. But you have to play your cards well to be at the top. Pursue additional certifications and skill proficiencies with various technological tools in the niche.
Are you a detail-oriented and organized person? If yes, then you must be a great choice for a company. Most of the companies will provide you with a structured work environment. That's because you are one of the most important assets to them. You will help them with annual budgets and keep expenses on track. That's the only way companies manage to meet their financial goals.
Companies will hire you to access their funding needs. For a company to remain competitive in the market, it must have a great strategy for making operational decisions. And that entirely depends on you! You are the game-changer of the company, and you have to provide it with great decisions on one-time expenses.
An annual average salary of $74,000 is great for entry-level positions. You won't struggle like other individuals working in the other sectors. As a result, you will live a stable life that will allow you to learn lots of facts on budget analysis with ease. You pay for other certifications to add more weight to your degree course, either in accounting or finance.
Economist is a popular word! Even those that don't understand the literal meaning use it in their context. Maybe you have ever heard someone using it. What do you think is in the minds of these people? They may not have a literal understanding that it's a career that can pay around $64,000 annually. If someone has ever called you an economist, you definitely have something they associate with the word.
You can apply for the entry-level position if you are interested in the “big picture” and enjoy the research in this career. A future in economics might be very great for you. You will be employed to study trends in various sectors from the government to business.
Interestingly, you can choose to work in the education sector and share your knowledge with future generations. At the same time, you can make several publications for investors to learn about market trends. Imagine influencing the world economic trends with your knowledge! Salary tends to vary depending on your education level and the company you are working for.
Underwriting may be the best choice if the insurance company appeals to you, but you'd rather keep off fieldwork. In this case, you are working in the company of your choice with little pressure. Sometimes, no pressure at all because you are a master in the field. You will evaluate applications and determine whether the company should provide coverage and the terms to apply. Here, your policies guide the actions of the company. And that includes rates policies that the company will use to weed out potential customers who carry too much risk.
A bachelors' degree is one of the basic requirements for this position. If you have it, congratulations. Still, if you don't have it, there is no need to worry. Do you have a strong background in insurance-related work and analysis? That's an equalizer in the case of hunting for this job. Most of the work is usually done in the office setting, and high flexibility is usually involved.
Most companies have switched to using automated underwriting software. So, you don't have to worry about a lot of typing in the office. With minimal workload, you can fetch around $46,600 annually. There are still popular and well-paying firms that can pay more than this.
There is huge growth in the finance sector, and the outlook is very bright. As a result, there are thousands of job opportunities for this field opening every year. Don't be left out with relevant qualifications and experience. Apply for jobs for well-paying positions stated above, and you will enjoy the experience.