The Different Types of Finance Jobs

If you are interested in pursuing a finance degree or professional qualification in finance, one thing you may noticed is that the breadth of career options available for the finance professional are numerous and cover both the public and private sector. Even though the underlying qualifications are virtually the same, the types of careers are very diverse and you will need to customize your finance resume writing to each field. This is why it is of absolute importance that one understands the intricacies of what a job in each of these careers will involve before they delve into it. Few things would be as disappointing as embarking on a certain career path only to realize the actual responsibilities and tasks are not what you thought they were. Finance career paths include corporate finance, commercial banking, insurance and financial planning each of which is briefly discussed below.

A corporate finance career has in recent times come to be considered THE career in finance. There is a prestige that corporate finance executives carry even though some may argue that its viability as a career is sometimes overhyped leading to many greenhorns venturing into the corporate finance industry only to realize that things may not necessarily as rosy and easy as they are sometimes painted to be. Nevertheless, corporate finance careers can be some of the most exciting in finance. A corporate finance executive position will often involve sourcing finances for the company and ensuring the company's finances are put to use in a way that provides maximum return at a reasonable level of risk.

When you say finance, one of the first things that comes to most people's minds is commercial banking. This is not altogether surprising though when one considers that the commercial banking sphere holds the most jobs as well as employment opportunities in the financial services sector. As the name suggests, a commercial banking career will involve one or more of the following: foreign currency exchange, cash management, credit management and customer service. Commercial banking jobs also include the control functions such as anti money laundering, compliance, ethics and internal audit. Despite the crisis that the commercial banks have faced from time to time, commercial banking jobs are often considered some of the most stable in finance given that banking services will always be needed.

A third finance career that is also quite diverse is insurance. An insurance company's core purpose is to cover businesses and individuals from the effects of a catastrophic event and in turn receive regular risk premiums to cover the risk. The insurance industry in modern times has a broader objective and insurance professionals often venture into of financial investment advice. It is also a stable industry given the essential role it plays in an economy. One can work in underwriting, asset management, sales and customer service.

Then there is the financial planning and wealth management which focuses on providing financial advice to individuals assisting them make appropriate future plans. As a financial planner or advisor, you assist clients to plan for their retirement needs and even prompt them to anticipate and set aside money for future college fees for their children.


Gail Esparan