Finance Jobs Pros and Cons

There are three types of college students. The former chooses a career they are passionate about and wants to work in the industry. The second is the one who chooses a specialization 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 students today fall into the latter category, often seeking careers in law, finance, and other high-paying jobs.

These races are not done without a lot of canvas. This is especially true in finance. If you’re thinking about getting a job in the finance industry, understand that there are big pros and cons.

The advantage of finance jobs in terms of salary is that they offer extremely competitive rates. The company you’ll be working for will leave most, if not all, financial matters on your desk and it’s your job to resolve them. They will pay you high amounts of money so that they make more money and lose less.

The fact that high salaries await you in a finance job is also a disadvantage. When you say competitive rates, there is an emphasis on “competitive” because you also have to remain competitive to maintain those rates. This translates into a lot more work and higher stress levels, leading to burnout if not managed effectively.

The hours you work will depend on your job title. If you’re 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 perk is that you will need to be really good at what you do to survive in the industry. Otherwise, you will have no demand at all.

Job security is another advantage of financial careers. The advantage is that there will be no shortage of customers as long as there are businesses opening. The downside is that some companies tend to hire when business is thriving, but fire financiers when it isn’t. To counter this, you just have to do your job right.

Keep in mind that the advantages of a finance job are also its own disadvantages. It’s best to remember this to prepare yourself mentally for the obstacles ahead and not be surprised at how seemingly difficult a financial career can be.