How Many Jobs are Available in Finance?
How many jobs are available in finance? The finance industry composes many different jobs across a range of sectors. From business and accounting to analysis and financial management, there are numerous opportunities if you’re considering this field for your career. Depending on the role you’re interested in, you may complete different requirements, including education, training and certification.
In this article, we discuss how many jobs are available in finance with the common requirements for entering the field and several common roles for you to consider.
How Many Jobs are Available in Finance?
Finance is a broad career field that encompasses a range of different roles. Within this industry, you can find jobs from accounting and bookkeeping to budgeting and analysis. The Bureau of Labor Statistics (BLS) guesses the addition of 715,100 new business and finance occupations between 2021 and 2031, resultant in a projected growth rate of 7%.
Further, the BLS projects an average of 980,200 job openings each year as long-term employees retire or leave the field. As the finance industry continues to grow, you can expect to find jobs across a variety of areas. Several common career fields for finance professionals include:
- financial analysis
- accounting and auditing
- underwriting
- insurance
- consultancy and planning
- tax preparation
Requirements for a Finance Job
Depending on the career track you choose, the requirements for your finance role can vary. Consider the following common requirements for entering a financial career:
Education
The educational need that one has may differ depending on the financial career that one has to take. For example, an entrant level accounting position may only need an associate degree while an advanced position, for instance, a chief financial officer position requires a masters in finance. In most instances however employers may demand an academic qualification of not less than a bachelors degree in the area of concentration.
Training
The training requirements can also differ depending on the kind of financial position that one decides to take. In some of the educational programs you are likely to be doing internships or study projects which make you prepare for taking over the real world role. Training may also take place in entry – level and junior positions where an employee is trained to work directly under the management and supervision of a manager or director.
Certifications
Not all financial careers require certifications or licensing, but it’s important to understand these requirements for the specific role you choose to pursue. For example, employers may require accountants to hold the Certified Public Accountant (CPA) credential.
Types of Jobs in Finance
Consider the following finance jobs to find the most suitable career path for you.
1. Bank teller
National average salary: $41,327 per year
Primary duties: A bank teller may work in a bank, credit union or added financial institution and processes customer transactions. They oversee the verification and confirmation of customers’ identities before processing financial transactions such as deposits, withdrawals, loan payments and check cashing.
2. Book-keeper
National average salary: $50,820 per year
Primary duties: Bookkeepers oversee the general financial management of the organizations in which they work. They’re typically responsible for maintaining up-to-date financial and budgeting information, including preparing monthly reports, planning budgets and tracking overall financial performance.
3. Tax examiner
National average salary: $46,202 per year
Primary duties: A tax examiner is responsible for reviewing tax returns for completeness and accuracy prior to filing with the Internal Revenue System (IRS). Tax examiners often work for individual clients but may also work for businesses and organizations.
4. Credit analyst
National average salary: $65,154 per year
Primary duties: Credit analysts evaluate client credit and financial information to determine how much risk an individual or business may pose when lending.
5. Accountant
National average salary: $59,606 per year
Primary duties: Accountants work with individuals and businesses to manage financial activities and operations. They help their clients and employers make important financial decisions by monitoring performance and providing guidance.
Conclusion:
The number of jobs available in finance can diverge greatly depending on the region, economic conditions, and specific sector within the industry. Generally, the finance sector offers a wide range of job opportunities, including roles in banking, investment management, insurance, financial planning, and accounting. In a healthy economy, there are typically thousands of finance-related jobs available at any given time, ranging from entry level positions to senior management roles.
