There are three kinds of college students. The first one chooses a major he is passionate about and wants to work in the industry. The second is one who chooses a major where he has the potential to earn a lot of money in his future career. The third one is undecided on what his future will be. With most homes still struggling financially, most of today’s students fall into the second category, often going for careers in law, finance, and other high-paying jobs.
These careers are not made without a lot of toil. This is especially true in finance. If you are thinking about getting a job in the financial industry, understand that there are high pros and cons.
The advantage of finance jobs in terms of salary is that they offer extremely competitive rates. The company you will be working for will dump most if not all financial matters on your desk and it’s your job to sort them out. They will pay you high amounts of money so they make more money and lose less.
The fact that there’s high wages waiting for you in a finance job is also the disadvantage. When you say competitive rates, there’s an emphasis on “competitive” because you also have to stay competitive to maintain those rates. This translates into a lot more work and a higher stress levels, which leads to burnout if you don’t manage it effectively.
The hours you work will depend on your job position. If you’re a financial consultant, for instance, you have full control over your hours. You can work when you want and get paid for when you do. The downside of this benefit is that you’re going to need to be really good at what you do to survive the industry. Otherwise, you won’t be in demand at all.
Job security is another pro-con of financial careers. The upside is that there’ll be no shortage of clients as long as there are businesses opening up. The downside is that some companies tend to hire when business is flourishing but lays off financial guys when it is not. To counter this, you just have to do your job well.
Notice that the advantages of a financial job are its own disadvantages as well. It is best to remember this so as to mentally prepare for the hurdles about to come and not get shocked at how seemingly difficult a financial career may be.