Anyone entering today’s employment marketplace and looking for a job in the financial sector will be delighted with the numerous employment opportunities. But getting that job you want depends on your geographical location as well as your qualifications.
Traditional finance sector jobs are in banking. Entry level positions are traditionally window teller positions. Employees are responsible for taking care of typical day-to-day banking transactions for customers. There are fewer of these positions in recent years, due in part to the growth of ATMs (automatic teller machines). Bank teller positions are usually stepping stones to higher positions, including loan underwriting and loan processing. In the last 10 years banks have become increasingly computerized, resulting in numerous computer and information technology jobs becoming available.
All companies are in need of bookkeepers and accountants. A small business will probably choose to hire another firm to handle their bookkeeping requirements. A larger company might have a few bookkeepers and accountants on payroll. Corporations usually have an entire accounting department with several employees.
The educational requirements for bookkeepers are quite a bit less than those required for accountants. If you have strong math skills and little or no work history, you will probably need at least a 2 year degree to find a bookkeeping job in today’s marketplace. If you have 2 or more years bookkeeping experience, your educational background probably will not matter, so long as you have a high school diploma.
Getting an accounting job will require much more education. Accountants must be familiar with management accounting, cost based accounting, financial accounting, and more. These accounting principles are not taught at the high school or community college level. You will need to attend an accredited 4 year college. For the upper echelon positions, where you get your degree will matter. If you are looking to go far in an accounting career, attend a top notch business college. The biggest corporations receive hundreds of applications. When they are considering one applicant versus another, everything else being equal, the deciding factor most of the time comes down to which college each applicant attended.
Brokerage firms offer additional areas of employment for those looking for work in the financial sector. The most common starting job is a broker associate. Duties for this position include dealing with customers and processing their transactions. After a little time you may get promoted to a financial analyst position. This job requires researching numerous investing opportunities, including stocks, bonds, foreign exchange markets, futures, and commodies. Competition for these positions is fierce. Top firms often offer little or nothing in terms of initial compensation. You will be required to work virtually for free. If you demonstrate that you can produce revenue for the firm, you will be promoted to a higher position with much better pay. Additionally, the top firms are usually located in New York City or Chicago, so you will be required to move if you do not live in these areas.