Why You Should Be Concerned About Entering Into A Finance Career

If you are considering a new career then whatever it might be it will be loaded with advantages. Your careers advisor will be only too happy to tell you all the exciting things about a potential new career, but they may not be as quick to tell you of the pitfalls. There are disadvantages to all careers, and it’s better that you see both sides of the coin before you make any long term commitments that you might go on to regret. So assuming you know all the advantages of a career in finance, read on to understand the parts that you might not find so appealing.

If You’re Not Good at Maths or Economics, You’ll Struggle

It should go without saying really but you need to be a natural and talented mathematician and economist in order to be successful in the world of finance. If this is something that comes naturally then you’ll thrive but if you really need to work hard to keep up with others then you’ll tire of struggling. Of course these things can be learnt but some people are just more predisposed to it than others. If you’re thinking of working in the financial sector then be sure that maths and economics are fortes of yours to avoid the disappointment of failure.

It’s a Fickle Business

Finance is fast-paced and you have to be able to act very quickly. You’re dealing with people’s money, so one false move and you could find yourself jobless. It’s an industry that is constantly changing so you need to be able to roll with the punches and be resilient as well as quick on your feet. If you succeed then the upside is that things move so quickly it won’t be long until you are given a promotion (and possibly a pay rise). But fail and you’ll be out like a shot. During your career in finance you will have many highs and lows so it pays to never get cocky or over-confident.

The Money is Not Always That Great

Sure, if you’re in banking then you can expect to earn a fair wage. But other jobs such as accountancy and financial planning are not so well rewarded. It pays to set up on your own once you are suitably experienced but this is a difficult thing to do. If money is your motivation then definitely aim for banking as opposed to the other careers available.

If you’re not sure whether finance is for you then spend some time talking to people who are experienced in the field already – they will be able to give you an honest account of what they enjoy and what they don’t. Heed their advice as they will have lots of experience to draw on. Speak to careers advisors and potential employers too. Research training options and look at ways to get some work experience – this is great to give you a good feel for how it really is.

If you’ve read all this and still want to get involved in finance then we wish you the very best of luck!

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This post was written for us by Romeo Handley from Share Wealth Systems, a mechanical trading system company based in Australia. Romeo believes that finance industry is one of the most rewarding industry for those with a penchant for numbers.

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