What are the Different Types of Finance Careers?

There are many different types of finance careers, from those housed in specific financial institutions like banks to those that help clients navigate money matters and make wise investments. Almost any career that involves money planning, be it through payment, acquisition, or growth, can properly be considered a finance career. Some are more traditional than others, but nearly all require at least undergraduate training.

Almost everyone has the need for money expertise, from individuals and small businesses to major corporations. Choosing a specialty is usually a lot harder than finding different options.

Many finance careers are housed within banking institutions. Some bankers start out as tellers, educating consumers about various account options and assisting with deposits and withdrawals. More advanced personnel work as account managers and loan officers, helping clients execute financial transactions.

Bankers can also work with corporate clients. Business banking is usually a lot different from personal banking, as there are more complexities and legal regulations to keep in mind. Some of the most elite business finance careers are in investment banking, which deals with corporate funding and share allocation for young, growing businesses. A corporation that is just getting off the ground usually needs a lot of capital. Investment bankers help negotiate favorable deals between companies and investors.

Careers in the accounting sector deal primarily with financial reconciliation, ensuring that clients stay on top of their bills and other money-related obligations. Tax accountancy is a popular career track in countries that require individuals and businesses to file and prepare tax returns,. Most businesses also have in-house accountants who manage expenditures and keep track of money going in and coming out.

Money matters are often complicated for both individuals and businesses, which is where financial planning comes in. Careers in financial planning usually focus on helping clients make the most of what they have. When it comes to families and individuals, planners focus on growing assets, setting up education funds for the future, or helping people make good investment decisions as they plan for retirement.

On the corporate side of things, planners often help structure pension and retirement plans and manage profits in ways that help a business grow. Financial savvy is required for this sort of work, but so is good communication — the planner must be able to set out the different options, but then listen to and implement the client’s decisions.

Those who work on the stock market or with investment instruments like bonds or mutual funds often have some overlap with financial planners. The brunt of these jobs comes in marketing and selling investments, though; rarely do professionals ever directly offer clients advice. Some of these careers are situated on actual trade floors, like the New York or Tokyo stock exchanges. Others are housed in offices, where investors and analysts watch market trends in real time and make quick judgments about whether to buy or sell.

The purchase and sale of property is an inherently financial matter, and finance careers abound in this sector. A lot of money transactions happen in real estate, from home appraisement and property management deals to mortgage negotiation and loan settlements.

In most places, insurance rates, fees, and premiums are calculated by a team of financially savvy underwriters. Underwriters study market trends and demographic charts to come up with numbers that represent a favorable gamble for the insurance company. These sorts of financial careers exist in a range of sectors, from home and auto to medical and life insurance, at both the personal and corporate levels.