Business and Finance are significant and dynamic concepts in the Market. The finance industry has a very fast paced environment with ever changing needs and demands. Finance is required in every aspect of every move a company in general makes. This move might be hiring more employees, starting an advertising campaign, or even upgrading the packaging of any product. So Finance is dependent yet flexible depending upon the business environment and the needs. Following that, the finance experts and professionals who get all the work done need to be adjustable as well. “Market changes, the experts change” So the demand of different finance experts such as financial analysts or investment bankers etc. is entirely based on the economy of the country and world economy as well as the business environment. Thus today I will address the career options in business and Finance in 2022 and beyond.
First of all we will discuss the market scenario and the requirements in the current year and near future (upto 2-5 years). At the present inflation has been the most popular term on everyone’s mouth, but what does it mean? Is it scary?. Inflation is a scenario when people have less money to spend and products become expensive, for eg: Gas prices are touching the sky these days near about $5- $6+. To read in detail go to Preparing for a Recession in 2022-23.
As discussed, we need to prepare for a recession, that means the market needs more planning and predictions with solutions of course. Besides, we need to have a check on investments and upcoming risks that may affect the company in any way negatively. Therefore we need accountants and budgeting to meet the needs etc.
Let’s discuss the above in more detail in associated career paths in business and finance:
Financial Planning and Predictions:
Financial Analyst:
The first and foremost career expert we need is a financial analyst to get in depth detail of our current situations, and stats to decide on what we need to do to make it better and growth supporting. So a financial analyst studies the financials, uses statistics, compares the charts, and helps reach our conclusions.
Median Salary p.a (US): $84000
Financial Planner:
A financial planner plans the finances and ensures present and future financial stability. Basically, this is like a security of the Finance to ensure you have sufficient funds at all times and that your money is safe and secure. As in a career in financial planning, specialization is required, which may be in wealth management or tax or estate planning, etc. The median salary of a financial planner based on past years is about $ 80000+.
Financial Economist:
A financial economist is a very uncommon career term new for many people. A financial economist is an individual who ensures the allocation of resources most beneficially and appropriately. He is also like a financial analyst, studies deeply, and makes concussions on a different scale and level. With additional responsibilities and resource allocation such as production management, etc. A financial economist’s median salary is $75000.
Investment Banker:
An investment banker is the one who ensures all investments are in the right place. And makes our money grow by a significant scale with the security of funds. He studies the investment options along with other financial experts, as discussed above. To make substantial predictions because nothing is 100% guaranteed in the market to find ways to make your money grow. Also, the median salary for an investment banker as per the past few years is $112000+.
Budgeting and Books:
Corporate and Public Accountant:
A corporate accountant is for capital restructuring and funding resources. Whereas a public accountant is the one making sure there is enough money for public or private entities with various associated tasks to perform. The median salaries for corporate and public accountants are $72000 and $87000, respectively. There is a very thin, delicate line between the working of two accountants. They have similar yet different roles to perform.
Risk Management:
A risk manager/ analyst is an individual who studies the business environment. And ensures minimum risks to business operations and decisions that will have a significant impact. They not only identify market risks but also help to minimize and avoid those risks in advance. In addition, they are equipped with specific analytical and decision making abilities. That help them to plan and forecast future events better than anyone else. The median salary is about $ 131000+.
So these are some career options you can opt for in Business and Finance in 2022 and beyond! The median salaries are rounded figures and can differ from other market figures as they are subject to change. To search salaries for different roles at different locations you can click here.
That’s it, and We would be delighted to hear from you what you think about upcoming career situations in Finance. So, what are you opting for in your career, do let us know in the comment section below!
Thank You For Reading!!
Sukhpreet Kaur
