Considering a career in finance? This field offers a wide range of opportunities, from investment banking to financial planning, corporate finance, and more across nearly every industry, including technology, healthcare, government, and education.
The career path is known for its stability, competitive salaries, and growth potential, attracting both analytical minds and ambitious goal-setters.
We’ll explore whether finance is a good career path by looking at key factors like industry growth, job stability, required skills, typical salaries, and potential downsides. Plus, we’ll break down specific jobs within finance to help you decide which ones best align with your interests and strengths.
The finance industry landscape
The finance industry supports critical operations across several sectors, from corporate enterprises to governmental organizations. Jobs in finance span a wide range, including investment banking, financial planning, asset management, and corporate finance, each with its own demands and rewards.
According to the Bureau of Labor Statistics (BLS), employment in business and financial operations is expected to grow by about 5.6% by 2032, a pace that outstrips the national average of 3%. Notably, roles like financial analysts, personal financial advisors, and financial managers are projected to experience above-average growth due to an increasing need for risk management, financial advice, and investment strategies across both private and public sectors.
For example:
- Financial managers: Employment for financial managers is expected to grow 17% by 2032, significantly faster than the national average, driven by demand for financial analysis and strategic guidance as companies expand.
- Financial analysts: With a projected 9% growth rate, financial analysts are increasingly in demand to help organizations make data-driven investment decisions.
- Personal financial advisors: These roles are expected to grow by about 17% over the same period, as more people prioritize long-term financial planning and retirement savings.
Emerging areas like fintech (financial technology), sustainable finance, and data analytics are reshaping the industry—and creating more opportunities. Fintech, for example, has revolutionized the way financial services are delivered, with sectors like digital payments, blockchain, and automated trading systems on the rise. According to a report by BCG, the fintech market is expected to grow at a compound annual growth rate (CAGR) of over 17% in the U.S. through 2030.
In addition to fintech, sustainable investing—which focuses on environmental, social, and governance (ESG) criteria—has gained traction. Assets managed with an ESG focus are projected to reach $50 trillion globally by 2025, creating new job opportunities for finance professionals who understand both traditional finance and sustainability principles.
For those interested in a career that combines high earning potential with a variety of growth avenues, finance offers an attractive choice. Not only are there well-established paths, but the sector’s expansion into tech and sustainability makes it a field that offers both stability and innovation—ideal for individuals seeking a versatile and impactful career path.
Pros and cons of a career in finance
A career in finance can be both rewarding and challenging. It offers unique advantages, such as high earning potential and diverse job opportunities, yet it also comes with demands that may not be a fit for everyone. Let’s take a closer look at the key pros and cons of working in this industry to help you decide if it aligns with your goals and lifestyle.
Benefits
- High earning potential: Finance careers are known for offering competitive salaries, even at entry levels. As you gain experience and specialize, your earning potential can increase significantly, making finance one of the top-paying industries.
- Diverse career opportunities: Finance isn’t just about working in banks or for investment firms—you’ll also find roles in corporate finance, insurance, real estate, government, and tech. This variety gives you the flexibility to explore and find a niche that aligns with your interests and strengths.
- Skill development and transferability: The skills you develop in finance—like analytical thinking, problem-solving, and understanding complex data—are highly transferable. This means that if you decide to shift to a different industry, your finance skills will still be valuable and relevant.
- Strong job stability: Finance professionals are always in demand. Businesses need financial experts to guide them through economic ups and downs, meaning that well-qualified finance professionals frequently enjoy strong job security.
- Career progression and advancement: With numerous certifications and specializations available, finance offers clear paths for career advancement. Pursuing additional qualifications (like CFA or CPA) can open doors to higher-level roles, boosting both your career and earnings.
Drawbacks
- High stress and long hours: Many finance roles are fast-paced and demanding, often requiring long hours, especially in fields like investment banking and consulting. The pressure to meet deadlines and achieve financial targets can contribute to stress and burnout.
- Intense competition: Finance careers are lucrative and prestigious, and tend to attract top talent, making the field highly competitive. Getting started in finance can be challenging, and advancing typically requires exceptional performance and continuous skill improvement.
- Requirement for continuous learning: To stay relevant in finance, professionals need to keep up with market trends, regulations, and evolving technologies. This means ongoing education, certifications, and staying current with industry news—a commitment that not everyone finds appealing.
- Potential ethical dilemmas: Some finance roles, particularly in sales and trading, may involve navigating ethically complex situations. Balancing profitability with ethical considerations can be challenging, particularly in roles where client interests and business goals don’t always align.
- Client acquisition: “Client acquisition is another challenge, particularly for those in roles where building a client base from scratch is essential. This can be daunting, especially if you’re new to sales or entering a highly saturated market,” says Certified Financial Planner Monica Mejia.
- High barriers to entry: Certain finance roles require specific qualifications or certifications, which can be time-consuming and costly to obtain. Additionally, many positions favor candidates with advanced degrees or specialized training, which can make entry harder for those without these credentials.
Is finance a good career path for the future?
Finance is evolving at a rapid pace, reshaped by technological advancements and a growing reliance on data-driven decision-making. “Finance jobs are no longer just about crunching numbers or balancing spreadsheets,” says Fred Winchar, a certified HR professional and CEO of finance company Max Cash. Winchar says technology is transforming finance roles, making them “more exciting—and a bit challenging—as AI and automation become integral to the industry.”
Artificial intelligence continues to handle an increasing range of tasks, from routine processes to complex financial analyses, with little margin of error. “The next decade is bright for anyone who can adapt to change, keep up with technology, and with an innovative mind,” he says.
While AI can streamline many tasks, there remains a strong demand for finance professionals who excel in areas AI can’t easily replace—like critical thinking, strategic decision-making, and interpersonal communication.
For those entering the finance job market, it’s a good idea to focus on:
- Building soft skills: With AI taking over routine tasks, soft skills like emotional intelligence, communication, and creative problem-solving are more valuable than ever. “Today’s financial professionals need to build trust and convey complex information in a way that clients can easily act on,” Mejia says. “Strong interpersonal skills allow us to connect with clients on a personal level, while meticulous attention to detail ensures we deliver thorough, tailored plans.”
- Embracing technology and lifelong learning: Consider learning how to use AI to analyze data, which involves staying updated on new technologies and committing to lifelong learning. This way, finance professionals can leverage AI as a tool rather than view it as a replacement.
- Connect with clients via social media: “Traditionally, advisors focused on clients nearing or in retirement, but today’s landscape is shifting as younger people, including social media content creators and entrepreneurs, build wealth,” Mejia says. “This shift is drawing more young clients to financial advisors, while advisors increasingly target younger professionals. Platforms like YouTube and podcasts provide opportunities for long-form content, while TikTok and Instagram Reels excel in short-form outreach, allowing advisors to reach a broad, younger audience.”
Finance career jobs to consider
The finance industry offers many career opportunities that promise high salaries and significant room for growth, with the right skills and certifications. Below are some of the most promising finance career paths to consider, along with their median annual wages, as reported by the U.S. Bureau of Labor Statistics (BLS).
1. Financial analyst
With a median annual wage of $123,330, financial analysts assess investment opportunities and guide businesses and individuals looking to make informed decisions about their financial resources. In this role, you'll spend your time analyzing financial data, creating reports, and forecasting trends to help clients or companies make strategic decisions.
The job can be demanding, with tight deadlines and high expectations for accuracy. However, the role offers excellent growth potential and the opportunity to work in a variety of sectors, from investment firms to corporate finance departments. Financial analysts often transition into higher-paying roles like portfolio manager or CFO.
2. Personal financial advisor
This career involves helping individuals manage their personal finances by offering advice on investments, retirement planning, insurance, taxes, and estate planning. Financial planners must be comfortable working directly with clients, understanding their needs, and designing strategies that fit their financial goals.
The job can be highly rewarding, as you have a direct impact on people's financial security. Challenges include building and maintaining a client base, as well as staying current with changing financial regulations and products. The median annual wage for financial planners is $150,670.
3. Management analyst (financial focus)
With a median annual wage of $115,530, management analysts specializing in finance work with companies to improve their financial efficiency and profitability. These professionals analyze financial processes, systems, and structures, and recommend changes to enhance performance.
This role mixes financial expertise with business strategy, and it requires strong problem-solving and analytical skills. The job can be fast-paced and sometimes stressful, but it offers the chance to work with high-level decision-makers and influence company-wide financial strategies.
4. Investment banker
Investment bankers earn a median annual wage of $112,950, though this can vary significantly based on experience and company. In this role, you'll advise companies on large financial transactions such as mergers, acquisitions, and capital raising.
Investment banking is known for its high-pressure environment, long hours, and the need to constantly be on top of market trends and financial news. Despite the challenges, the financial rewards and opportunities for advancement are substantial, making it an appealing career path for those who thrive in competitive, high-stakes environments.
5. Financial examiner
Financial examiners earn a median annual wage of $98,140, although this can vary depending on the sector and experience level. In this role, you'll ensure financial institutions comply with laws and regulations, particularly those related to banking and securities. This includes overseeing financial records, conducting audits, and assessing risk management procedures.
These professionals play a critical role in maintaining the integrity and stability of the financial system. While the work can be meticulous and requires a keen eye for detail, the career offers opportunities to impact the industry by ensuring compliance and protecting against financial fraud. The role typically involves a stable work environment with a balance of field and office work, making it an appealing choice for those who enjoy working with data, regulations, and risk management.
6. Risk manager
Risk managers in finance have a median annual wage of $118,950. Their primary responsibility is to identify, assess, and mitigate financial risks within a company. They analyze potential threats, from market fluctuations to regulatory changes, and develop strategies to protect the company's financial interests.
The job can be challenging, as it requires staying ahead of potential risks and managing crises. However, it’s a role that offers significant career progression and the chance to have a direct impact on a company’s financial stability.
7. Financial manager
Financial managers earn a median annual wage of $174,820. In this role, you'll be responsible for managing the financial health of your organization by overseeing investment activities, financial reporting, and budget management. You may also help develop long-term financial strategies to ensure the company meets its financial goals.
The role of a financial manager requires a blend of technical financial skills and strategic thinking. You will often work closely with senior executives to guide business decisions and ensure financial success. The role offers significant leadership opportunities and the potential for career growth into higher executive positions, such as Chief Financial Officer (CFO).
Is a finance career right for you?
Deciding whether a career in finance is right for you requires careful reflection on several factors. Here, we’ll explore the key elements that can help you determine if finance aligns with your aspirations.
Think about your desire to impact businesses and individuals
One of the most rewarding aspects of a finance career is the opportunity to make a real impact. “For anyone interested in a career in finance, my first piece of advice is to start by understanding and developing your personal story—why this career matters to you,” Mejia says. “Think about what draws you to the field and the impact you hope to make, as finance is a broad and varied profession.”
Whether you're shaping business strategy, advising clients on personal finances, or managing resources to help businesses thrive, finance professionals play a key role in influencing financial outcomes. “Once you have that clarity, seek out foundational experience, even if it’s through an entry-level position or internship,” the financial planner says. “Hands-on experience is invaluable.”
Evaluate your skill set
If you have a natural ability to analyze data, solve complex problems, and interpret numbers, finance could be a strong fit for your skill set. These skills are essential for navigating the intricacies of financial markets, interpreting reports, and making informed decisions. Strong attention to detail ensures accuracy in tasks such as budgeting, forecasting, and risk assessment, while problem-solving abilities help you tackle the challenges that arise in dynamic financial environments. “A career in finance goes beyond your ability to generate a financial report; you need to communicate those reports in a simple way that anyone can understand,” Winchar says.
Assess your personality fit for finance
A career in finance demands a specific set of personality traits, such as being detail-oriented, highly driven, and able to thrive in high-pressure situations. Roles in investment banking or trading, for example, are fast-paced and often involve long hours with tight deadlines. On the other hand, positions in financial advising or corporate finance may offer a more analytical and independent environment, with somewhat more flexibility in work hours.
While the intensity of the job can vary, it’s important to assess whether you’re comfortable with the high demands and whether you can keep a healthy balance between your professional and personal life. Ultimately, finance offers diverse roles, so understanding the environment that best suits your personality and lifestyle is key to determining if it's the right fit for you.
Consider your interest in technology and automation
Technology is rapidly reshaping the finance field, and finance professionals must be comfortable using new software and automated systems to stay competitive. “Most new hires struggle to adapt to technological complexity,” Winchar says. “They come with a solid theoretical foundation on finances, and it is a steep adjustment for them to work with data-driven platforms in real-time.”
If you enjoy embracing new technologies, staying ahead of digital trends, and using automation tools to enhance your work, a finance career will likely be a good fit for you. “New professionals should consider supplementing their theoretical knowledge with certifications of tools and software in their roles,” Winchar says.
Reflect on your long-term career goals and ambitions
The finance industry offers significant career growth potential, with many opportunities for advancement. Whether starting as an entry-level analyst or financial advisor, the path can lead to high-level roles like CFO or portfolio manager.
To climb the ladder, however, a commitment to lifelong learning is key. The industry is constantly evolving, with changes in regulations, market trends, and financial tools. Professionals who stay updated through certifications and continuous education are best positioned for success. If you're driven by career progression and prepared to invest in learning, finance offers a strong potential for growth and long-term success.
FAQs
Is finance an introvert’s job?
While finance can be a great career choice for introverts, depending on the role, it varies in terms of social interaction. Many finance positions, such as financial analysts, involve a significant amount of independent work, analysis, and data interpretation, making them well-suited for those who prefer solitary tasks. However, roles like financial advisors, investment bankers, or financial managers may require frequent client interaction and team collaboration.
What is the hardest job in finance?
The hardest job in finance depends on your skills and preferences. Investment banking comes with high-stakes decision-making, long hours, and intense pressure. The complexity of the financial markets, the fast-paced nature of the job, and the need to meet deadlines all contribute to its reputation. However, other roles like financial advisors or portfolio managers can also be demanding, requiring deep knowledge and the ability to manage substantial client investments.
Is finance a good skill?
Yes, having a strong working knowledge of finance is an incredibly valuable skill. Whether you're managing your personal finances or considering a career in finance, financial knowledge is essential for making informed decisions, planning for the future, and understanding economic trends. In a career context, finance skills are transferable across industries and help you build a strong foundation for long-term career growth. Employers in various sectors value professionals who can manage and interpret financial data.
Is finance manager a stressful job?
Being a finance manager can be stressful, particularly due to the responsibility of overseeing an organization’s financial health. Financial managers are often tasked with making important decisions on budgeting, forecasting, investments, and ensuring the company complies with financial regulations. The pressure to meet deadlines, deliver financial performance, and manage teams can contribute to stress. However, for those who enjoy problem-solving and strategic decision-making, the rewards can outweigh the challenges.
Do introverts make good financial advisors?
Yes, introverts can make excellent financial advisors, provided they have strong analytical and interpersonal skills. While the role of a financial advisor requires some level of social interaction and relationship-building, introverts can excel by focusing on the analytical aspects of the job—such as analyzing clients' financial situations and creating personalized financial plans. Introverts often bring a thoughtful, methodical approach to their work, which can help them form deep, trusting relationships with clients over time. Being a good listener and having strong empathy are also valuable traits for financial advisors, making it a suitable role for introverts.