Finance Career Options - Career Planning and Placement (2024)

What is finance?

Finance is the management of money which includes investing, borrowing, lending, budgeting, saving and forecasting. There are four main areas of finance: banks, institutions, public accounting and corporate.

What can I do with a major in finance?

Finance can be the most lucrative of all business careers, and the Mike Ilitch School of Business at Wayne State University is the perfect training ground. With myriad opportunities for internships, mentoring and career networking, our graduates land positions that run the gamut from financial planning and investment portfolio management to negotiating mergers and acquisitions, stock brokerage and more all the way up to the C-suite.

Students graduating with a major in finance continue to be in demand as job opportunities are expected to grow at a rate faster than average for all occupations. This will be due, in part, to a growing range of financial products, an aging population seeking financial planning advice and new regulations that will likely require more examiners.

Review the finance program page for more information.

Areas of finance

Traditional career titles

Entry-level titles in finance

Top industries in finance

  • Stockbroker
  • Budget analyst
  • Credit analyst
  • Financial analyst
  • Financial planner
  • Investment banker
  • Financial auditor
  • Financial analyst
  • Personal financial advisor
  • Investment banking analyst
  • Junior tax associate/accountant
  • Banking
  • Insurance
  • Investment Banking
  • Personal financial planning
  • Corporate and public finance

Guide to internships and full-time employment

Career fair

Career fairs are held each year for all business school students and alumni. Take advantage of this opportunity to meet with employers for internships, co-op positions and full-time employment. Login toHandshaketo search for upcoming career fairs and make an appointment with Career Planning and Placement for a resume review ahead of time!

Internships

  • Internships occur during the fall, winter and summer months. Students apply for internships throughout the year.
  • Recruiting for full-time employment typically occurs during the semester prior to a position's expected start date.
  • Browse the list of helpful resources on the back of this brochure, or apply directly on the company's website.

Quick prep tips

  1. Create your profile on Handshake.
  2. Submit your resume for review and approval on Handshake or schedule an appointment with a career advisor to review.
  3. Research potential internships and employers, apply for positions, and register for career fairs and other events.
  4. Meet with a career advisor for one-on-one guidance. Know your options! Research companies in accounting.
  5. Attend meet & greets, company presentations and career fair prep workshops, and mock interviews.
  6. Need help with professional attire? Make an appointment to check out the Mary Ann Goldsberry Professional Dress Closet located in Career Planning and Placement, Suite 299.

Helpful Resources

Finance Career Options - Career Planning and Placement (2024)

FAQs

Finance Career Options - Career Planning and Placement? ›

Working in financial planning can mean finding a job at a large bank or credit union, a nationwide wire house, or at a small independent firm. You can develop your own niche focusing on one area of planning, move into the academic field as a professor or researcher, or even start your own company.

What is a career in financial planning like? ›

Working in financial planning can mean finding a job at a large bank or credit union, a nationwide wire house, or at a small independent firm. You can develop your own niche focusing on one area of planning, move into the academic field as a professor or researcher, or even start your own company.

What is the path to a career in finance? ›

Most finance jobs require four-year or advanced degrees, especially in business, math, economics, and statistics. Finance jobs differ and include roles as diverse as investment banker, actuary, portfolio manager, quantitative analyst, securities trader, and financial planner.

How do I plan my career in finance? ›

The (Easy) Way To Plan Your Finance Career Move
  1. Step 1: Self-Assessment and Goal Setting. ...
  2. Step 2: Industry Trends and Future Outlook. ...
  3. Step 3: Skill Development and Continuous Learning. ...
  4. Step 4: Networking and Professional Relationships. ...
  5. Step 5: Gaining Experience and Building a Portfolio.

What are the three main areas of career opportunities in finance? ›

In the field of finance, there are three main categories of the industry: public, corporate, and personal. From financial planning to investment banking to insurance, people who pursue careers in finance power the world.

What are the four career pathways in finance? ›

The finance industry is a critical sector that employs millions of people. The Finance Career Cluster prepares students for careers in financial and investment planning, banking, insurance and business financial management.

How stressful is being a financial planner? ›

How stressful is being a financial advisor? Being a financial advisor can be highly stressful due to the responsibility of managing clients' financial futures, market volatility, and the need to make crucial decisions under pressure. Stress levels can vary based on individual clients and market conditions.

Can you make good money as a financial planner? ›

Finance careers are known to be lucrative, and financial planning is no exception. According to the U.S. Bureau of Labor Statistics (BLS), personal financial advisors earn a median annual salary of $95,390, more than double the national median salary of $46,310 for all occupations.

Which career is best in finance? ›

Top 10 Best Career Options in Finance
  • Corporate Finance. ...
  • Portfolio Management. ...
  • Investment Banking. ...
  • Asset Management. ...
  • Finance Scholars and Professors. ...
  • Public Accounting. ...
  • Commercial Banking. ...
  • Financial Planning.
May 16, 2024

What is the hardest finance career? ›

One of the most difficult jobs in Finance is to be the CFO of a PE firm or a PE-backed company. According to a Big 4 firm's survey, turnover of CFOs in PE and PE-backed companies is notoriously high, reaching 80% in less than five years; half of whom are gone within three years.

What's the highest paying job in finance? ›

Highest-paying finance jobs
  • Investment banker.
  • Hedge fund manager.
  • Financial analyst.
  • Information technology auditor.
  • Financial software developer.
  • Private equity associate.
  • Chief compliance officer.
  • Chief financial officer.
Apr 18, 2024

How do I break into finance with no experience? ›

How to Become a Financial Analyst with No Experience?
  1. #1 Do as much networking as possible. ...
  2. #2 Learn the Wall Street lingo and follow current events. ...
  3. #3 Start and maintain a finance blog. ...
  4. #4 Leverage your university career center. ...
  5. #5 Use a Trading Simulator. ...
  6. #6 Enroll in an online financial Analyst training program.

How to break into the finance industry? ›

How to start a career in finance
  1. Earn a bachelor's degree. ...
  2. Pursue an internship. ...
  3. Ask for referrals. ...
  4. Take relevant courses. ...
  5. Pair up with a mentor. ...
  6. Attend career fairs. ...
  7. Start in an entry-level position.
Apr 18, 2024

How do I start a new career in finance? ›

How to Start Your Career in Finance
  1. Education. ...
  2. Build financial knowledge. ...
  3. Develop key skills. ...
  4. Internships and entry-level positions. ...
  5. Networking. ...
  6. Obtain Certifications. ...
  7. Stay technologically savvy. ...
  8. Build a strong resume.
Mar 14, 2024

What is the most common job in finance? ›

Top 10 entry-level jobs in finance
  • Financial analyst. A financial analyst — sometimes called a business analyst — uses financial data to guide business decisions. ...
  • Personal financial adviser. ...
  • Accountant. ...
  • Loan officer. ...
  • Insurance sales agent. ...
  • Budget analyst. ...
  • Auditor. ...
  • Tax specialist.

What are the 4 areas of finance? ›

The four fundamental pillars of finance are Corporate finance, Investments, Financial institutions and International finance.

Is a career in finance worth it? ›

Finance degree jobs can provide relatively high pay, stability, opportunities for advancement and consistent demand projections. Careers in finance may also offer flexibility for employees by allowing them to work remotely or in hybrid environments.

What is the best degree for finance? ›

5 Majors to Consider for a Career in Finance
  • Finance. Finance majors learn how to make financial decisions for organizations. ...
  • Economics. Economics majors learn to decode the systems behind what can often appear impossible to understand. ...
  • Business Administration and Management. ...
  • Accounting. ...
  • International Business.

Is working in finance stressful? ›

Learn How to Cope With Finance and Investment Banking Stress

Finance careers are known for being fast-paced, challenging, and competitive. For many driven professionals, this is an exciting industry to be in. However, the long work days and heavy work loads can be exhausting.

What is the hierarchy of finance positions? ›

The four highest-paid jobs in finance are CFO, treasurer, controller, and Director of Finance. These jobs require a large amount of patience, attention to detail, and people skills. Many people in these positions are subject to large amounts of stress, and that is partially why they are compensated so well.

Is it worth it to become a financial planner? ›

Successful financial advisors offer valuable advice to their clients. In return, they get virtually unlimited earning potential, a flexible work schedule, and their choice of professional specializations.

What is the personality of a financial planner? ›

Financial advisors score highly on extraversion, meaning that they rely on external stimuli to be happy, such as people or exciting surroundings. They also tend to be high on the measure of openness, which means they are usually curious, imaginative, and value variety.

Is a financial advisor a good career path? ›

A financial advisor is a great career path for someone who wants to use both analytical skills and so-called soft skills. Financial advisors should have an aptitude for math and the ability to determine the best course of action for their clients.

Are certified financial planners happy? ›

The survey also reflects a high level of career satisfaction among CFP® professionals, with 84% experiencing a high to very high sense of personal fulfillment. Key job areas rated as good or excellent include stability (88%), work/life balance (80%), compensation (71%) and career advancement (65%).

References

Top Articles
Latest Posts
Article information

Author: Manual Maggio

Last Updated:

Views: 6719

Rating: 4.9 / 5 (49 voted)

Reviews: 88% of readers found this page helpful

Author information

Name: Manual Maggio

Birthday: 1998-01-20

Address: 359 Kelvin Stream, Lake Eldonview, MT 33517-1242

Phone: +577037762465

Job: Product Hospitality Supervisor

Hobby: Gardening, Web surfing, Video gaming, Amateur radio, Flag Football, Reading, Table tennis

Introduction: My name is Manual Maggio, I am a thankful, tender, adventurous, delightful, fantastic, proud, graceful person who loves writing and wants to share my knowledge and understanding with you.