Business Degrees & CareersHow to Work in Business & Finance

From financial advisors to human resources to real estate careers, business and finance careers give those who enjoy facts and figures an opportunity to put their analytical skills to use. This guide discusses the different professional paths in the industry, the education, training and degrees these professionals need, the tools they use to be successful, and the salaries that different business and finance jobs command.

Business and Finance Degrees & Career Paths

Students who pursue a business finance education will find a myriad of professional paths available to them. While these careers all require a solid foundation in financial principles, each career requires a different approach. Find out about the different business finance career paths, including information on job duties and required education.

Accounting

Accountants and auditors are responsible for preparing tax returns and determining how much money is owed to the federal, state, and local government. They may also scrutinize the financial statements of a business to ensure that all applicable laws and regulations are being followed. Other responsibilities may include creating a budget for clients, investigating whether or not financial mismanagement is occurring in an organization, and preparing internal reports for managers to use when making business decisions. Accountants and auditors also make recommendations on how an organization can cut down costs and maximize profits.

Budget Analysts

Finances are the lifeblood of any organization, so it's imperative that information about money matters is up-to-date and accurate. Budget analysts help both public and private organizations keep their finances organized. This is done by looking over budget proposals to ensure they are accurate and complete; consolidating the budgets of different departments within an organization; keeping an eye on a client's spending so that expenses do not exceed the established budgets; and making predictions about the financial needs of a company. Budget analysts also must stay informed about the law and understand how legislation will impact their client's finances.

Financial Analysts

When businesses need help making informed fiscal decisions, they turn to the expertise of financial analysts. These professionals provide advice on what investments businesses, as well as individuals, should put their money into and explain why these transactions are sound; prepare reports for clients; manage financial portfolios; and determine how an organization can pay its debts. In addition, it's also important that financial analysts stay abreast of the news that affects the markets. To that end, they study business and economic trends, gaining an understanding of how the current climate can be compared to historical information.

Financial Examiners

The laws that govern the financial industry are complicated and constantly changing. In order to ensure that they are conducting business lawfully, organizations often work with financial examiners who use their understanding of financial regulations to advise them on their transactions. The specific job duties of these professionals include reviewing documents such as balance sheets, loan applications, and expense accounts; reviewing an organization's finances to ensure that it is working within the law; and preparing reports for clients. In addition, financial examiners may be charged with training other professionals on how the examination process works.

Financial Managers

Whether they work as controllers, credit managers, treasurers, or risk managers, financial managers are responsible for keeping an organization's monetary affairs healthy. These positions come with a great deal of responsibility as professionals oversee the long-term financial goals of their companies. Specifically, financial managers are responsible for monitoring the funds of an organization in order to make predictions, create financial statements and business activity reports, and ensure that the organization is following the law. In addition, these professionals supervise the employees responsible for creating and maintaining budgets; explore ways to reduce costs; and help other managers make decisions based on financial information.

Personal Financial Advisors

Those who do not work in the business finance industry usually don't understand the intricacies of the markets—but they do know that they have financial goals to fund their children's education, buy a home, and comfortably enjoy their retirement years. Through the help of personal financial advisors, people are able to meet these goals. The career entails helping clients understand different financial services that are available, making recommendations about investments, and monitoring accounts to ensure that clients' investments are performing in a favorable way.

Securities, Commodities, and Financial Services Sales Agents

These professionals help investors navigate their way through the complex and fast-changing world of securities, commodities, and financial services. This position entails buying and selling stocks and bonds, advising clients on the best investments to make in order to achieve their financial goals, and monitoring how financial markets are performing. There are several types of securities, commodities, and financial service agents, including floor brokers, investment bankers, and investment banking sales agents and traders.

Components of a Successful Career in Business Finance: Skills, Tools, and Technology

Skill

Learning the principles of business finance is just the beginning to building a successful career in the field. These professionals must also cultivate a number of skills to perform well in their jobs. The following are examples of these skills and why they're important.

Credentials

Those who pursue certain business finance jobs, such as accountant and financial analyst positions, are required to obtain a license from their state. However, there are other credentials that professionals can voluntarily earn. These help workers differentiate themselves in the job market and make them more attractive to employers. The following are some examples of industry certifications that are available.

The Certified Management Accountant (CMA) is granted from the Institute of Management Accountants for those who have completed a bachelor's degree and a minimum of two years of management accounting experience.

Tools and Technology

Knowledge and skills are necessary to be successful in business and finance positions, but there are also a number of tools and technologies that these professionals need. Some examples of these technologies and tools include:

Business and Finance Career Salaries

Those who pursue business and finance positions often make healthy salaries that are higher than the national average. The following is a sampling of salary information for careers in the industry.

Business and Finance Career Job Growth, Prospects, and Outlook

The landscape for business and finance careers differs depending on which career people enter and where they live. In the following table, the growth prospects of several careers are outlined, along with the top states for jobs in those professions.

Sources: Bureau of Labor Statistics and Projections Central

Related Occupations & Salaries: What You Need to Know

Those who are interested in pursuing business and finance careers may also consider a number of related paths. The following are examples of related careers for people with strong business acumen and a head for figures.

Related Careers at a Glance

Become Team

Contributing Writer

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