It’s no secret that carving out a high-flying career in finance hinges on more than just good grades.
Whether you’re just starting out or you’re an executive with decades of experience, can you recall what led you to this career choice?
In today’s fast-evolving workplace, accounting and finance professionals must demonstrate everything from razor-sharp analytical abilities and stellar interpersonal skills, to a precise understanding of industry-standard software. Let’s answer some of most frequently asked questions by students looking to pursue a career in the financial sector.
Is finance still a good career in 2021?
A career in finance or financial services is certainly lucrative – that we have all heard. However, is it still a good long-term career choice with everything going on in the world? If you are a young and driven individual with an affinity for money and don’t mind putting in the long hours, then a career in finance is likely on of the best options. Up-skilling courses can also be taken while you are pursuing a full-time undergraduate or graduate degree. However, Spanish Finance degrees are highly sought after and students usually get placed at top investment banks in the financial services sector, without the need of any other up-skilling program.
The demand for a degree in finance is strong, with some of the fastest-growing occupations seeing job increases of up to 14, 15 or even 19 percent.* Of course, the best opportunities will belong to finance professionals who acquire the most in-demand skills and have degrees from top universities with an up-to-date program. While the role of analysts, examiners and consultants see a healthy growth, there is a decline in new recruitment of tax examiners, collectors and revenue agents in developed countries. Under-developed countries still see a healthy growth in double digits for all the roles.
The European Salary Benchmark 2019 revealed that the past year has seen a 21% increase* in the number of finance and accounting jobs posted.
Can roles in the financial sector go remote in the future?
Thanks to the pandemic over 94% of males and 93% of females currently working in financial and professional state their job can be done flexibly in terms of location without impacting their performance. Pre-covid only 54% males and 75% females believed so, as per The Wisdom Council, a financial services consumer insight and engagement specialist, and The London School of Economics and Political Science (LSE). (Click here for a detailed report on Cityam)
This is an indicator that many rolls in the financial services sector may go virtual forever. This will give one greater flexibility and geographic liberty in the future. So, while one can still enjoy the high remunerations you could limit expenses by opting to stay away from expensive neighborhoods or cities in general!
How do I start a career in finance?
Landing a finance job with a bachelor’s degree is feasible, but it’s highly competitive. The in-boxes, both digital and physical, of industry professionals, HR folks at banks, and brokerages, are stuffed with the resumes of students who have dreams of big money, lavish lifestyles, and getting on the path to being Masters of the Universe by the time they are 30.
If that weren’t enough, the financial and investment services job market is cyclical. When the stock market is booming, finance jobs boom, as well. But when returns dwindle so do the listings and openings.
One of the best ways to penetrate the market and get your resume to shine is via the Placement Cell of your University & LEAP Global Educational Consultants. At LEAP we help students aspiring to be financial sector wizards get selected at graduate programs and help them with both full-time jobs and internships at some of the top financial services recruiters. Here is a list of some of the top universities in Spain to study finance and get placed in a company of your choice.
What jobs in finance pay the most?
In Europe, Investment bankers tend to make the most, the average starting base salary for an investment banker is between Euro 75,000 and Euro 96,000 per year. However, a first-year banker can add to this amount significantly with bonuses, and the better they perform, the more money they make.
This is followed by positions like compliance and financial analysts who tend to make about Euro 75,000 a year.
What makes the financial sector fun?
The financial sector is incredibly fun and most bright young graduates aspire to take a position in the financial sector. This is because the sector offers a fast-paced, continuously challenging career and provides opportunities for development and professional training. The salary and perks surely add to the excitement around the sector. However, it is not easy to survive in the sector if you are not passionate about the field as the work can become extremely demanding whilst climbing up the ladder.
Still unsure whether doing an undergraduate or master’s program in Finance is right for you? Schedule a call with our Guidance Counsellors and learn more about the opportunities present in Spain and the companies that hire students from Spanish Universities.