There are three types of college students. The former chooses a career that he is passionate about and wants to work in the industry. The second is one who chooses a major in which he has the potential to earn a lot of money in his future career. The third is undecided about what his future will be. With most households still struggling financially, most of today’s students fall into the second category, often opting for careers in law, finance, and other high-paying jobs.
These races are not done without much effort. This is especially true in finance. If you are considering getting a job in the financial industry, understand that there are many pros and cons.
The advantage of finance jobs in terms of salary is that they offer extremely competitive rates. The company you will be working for will leave most, if not all, financial matters on your desk and it is your job to figure them out. They will pay you large amounts of money to earn more and lose less.
The fact that there are high salaries waiting for you in a finance job is also the downside. When you say competitive rates, there is an emphasis on “competitive” because you must also stay competitive to maintain those rates. This translates to much more work and higher stress levels, leading to burnout if you don’t manage it effectively.
The hours you work will depend on your job title. If you are a financial consultant, for example, you have full control over your hours. You can work when you want and get paid when you do. The downside to this benefit is that you will need to be really good at what you do to survive in the industry. Otherwise, you will not have any demand.
Job security is another advantage of financial careers. The advantage is that there will be no shortage of clients as long as there are companies that open. The downside is that some companies tend to hire when business is booming, but fire financiers when it isn’t. To counter this, you just have to do your job well.
Keep in mind that the advantages of a financial job are also its own disadvantages. It’s best to remember this to mentally prepare for the obstacles that lie ahead and not be surprised at how seemingly difficult a financial career can be.