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Finance careers?
Does anyone know areas in the finance field that helps impact the community, while earning a high income? I'm good at math so I've considered going into the finance field, but I only know jobs like becoming an account, and i'm not really interested in software engineering. My view of finance careers are very limited, so I was wondering if anyone had any other ideas.
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Kevin’s Answer
Yes! This is a question I've been waiting for someone to ask!
There's a relatively new field in finance called impact investing. It's like your traditional investing where you are seeking to earn a financial return, but you are also trying to generate some measurable social or environmental benefit at the same time.
Some examples include investing in: renewable energy generation like solar or wind, financial technology that helps individuals or small businesses better access loans and financial products, affordable housing, a fashion brand focused around an ethical supply chain (maybe sustainable textiles, maybe human/labor rights), climate technology that draws carbon out of the atmosphere, better ways to grow food and prevent food waste, etc.
I was similarly in your shoes -- knew that I was good at numbers so figured finance might be interesting, but was also really intent on making a positive difference for society / my community. Impact investing is an amazing way to blend those interests -- and has high paying roles as well. To give an example on the highest end, an Associate (say 3 years out of college) at a very large private equity impact fund could make $350k annually. Again, that's on the highest end and not the norm, but just to illustrate there is a high ceiling here (other Associate impact investing roles might look like $90k to $160k as a more common range).
I absolutely love working in impact investing. I'm able to use my financial skillset to do good for the world. I'll highlight one favorite company that I recently invested in -- Kubik operating in Ethiopia. They turn plastic waste into affordable housing units. The plastic is collected by waste pickers, who typically are living in extreme poverty and have harsh working conditions, but are able to triple their income working with Kubik. Plastic gets out of the landfills/ecosystem, more affordable housing is built, and there's reduced carbon emissions in the construction -- all while generating cash for the business.
I'll be creating an educational series around impact investing on YouTube in coming months and will try to link it here when it's up.
If investing isn't up your alley, Lindsay makes a great point that you can work in finance at a company or non-profit whose mission or work aligns with your values. Grantmaking at a foundation could be another wonderful avenue.
Cheers to your journey ahead, Jeddida!
There's a relatively new field in finance called impact investing. It's like your traditional investing where you are seeking to earn a financial return, but you are also trying to generate some measurable social or environmental benefit at the same time.
Some examples include investing in: renewable energy generation like solar or wind, financial technology that helps individuals or small businesses better access loans and financial products, affordable housing, a fashion brand focused around an ethical supply chain (maybe sustainable textiles, maybe human/labor rights), climate technology that draws carbon out of the atmosphere, better ways to grow food and prevent food waste, etc.
I was similarly in your shoes -- knew that I was good at numbers so figured finance might be interesting, but was also really intent on making a positive difference for society / my community. Impact investing is an amazing way to blend those interests -- and has high paying roles as well. To give an example on the highest end, an Associate (say 3 years out of college) at a very large private equity impact fund could make $350k annually. Again, that's on the highest end and not the norm, but just to illustrate there is a high ceiling here (other Associate impact investing roles might look like $90k to $160k as a more common range).
I absolutely love working in impact investing. I'm able to use my financial skillset to do good for the world. I'll highlight one favorite company that I recently invested in -- Kubik operating in Ethiopia. They turn plastic waste into affordable housing units. The plastic is collected by waste pickers, who typically are living in extreme poverty and have harsh working conditions, but are able to triple their income working with Kubik. Plastic gets out of the landfills/ecosystem, more affordable housing is built, and there's reduced carbon emissions in the construction -- all while generating cash for the business.
I'll be creating an educational series around impact investing on YouTube in coming months and will try to link it here when it's up.
If investing isn't up your alley, Lindsay makes a great point that you can work in finance at a company or non-profit whose mission or work aligns with your values. Grantmaking at a foundation could be another wonderful avenue.
Cheers to your journey ahead, Jeddida!
Wow thank you so much for writing all of this. Will defintelyyy look into impact investing. I love doing the bits and pieces I can to help our environment, so be able to help on a huge scale by impact investing seems very rewarding to me
Jeddida
Updated
Rebecca’s Answer
Thank you for your question. I am glad to know you have interest to develop your career in finance.
Below are my suggestions:
1. There are many careers related to finance, eg finance manager, accountant, financial analyst, financial advisor, trader, investment banker, fund managers, etc. you can find out more finance related careers online
2. Find out more on these careers and determine what you have interest
3. Speak to someone who are working in these careers. Seek guidance from your mentor, school career counselor, your parents, etc
4. Shortlist 1-2 careers you would like to pursue
5. Explore the entry criteria of relevant subjects in colleges
Hope this helps! Good luck!
May Almighty God bless you!
Below are my suggestions:
1. There are many careers related to finance, eg finance manager, accountant, financial analyst, financial advisor, trader, investment banker, fund managers, etc. you can find out more finance related careers online
2. Find out more on these careers and determine what you have interest
3. Speak to someone who are working in these careers. Seek guidance from your mentor, school career counselor, your parents, etc
4. Shortlist 1-2 careers you would like to pursue
5. Explore the entry criteria of relevant subjects in colleges
Hope this helps! Good luck!
May Almighty God bless you!
Thank you so much, Rebecca!
Jeddida
Lindsay Bertell, CPA (she/her/hers)
Human Resources, formerly Finance
5
Answers
Updated
Lindsay’s Answer
If you want to pursue finance but are looking to have a positive impact on the community I recommend you choose a company that has a strong purpose statement and values that align to their own. For a high income, you probably would want to look at mid-size to large companies, which often have a corporate social responsibility report that will give you insights into what they are doing to positively impact the world.
Finance encompasses a lot of pieces in the corporate space. There is treasury, tax, internal audit, corporate controlling, etc. Large companies often have internships or rotation programs (the latter you would work in different finance areas for 6 months before moving to a new area, generally for a 1-2 year period). It's a great way to get a feel for the area you want to focus in on and something I wished I had known about when I was graduating from college.
Other ways to positively impact communities would be working for non-profits or even going into forensic accounting for the government (the latter you could look at the FBI). You wouldn't necessarily make as much but these may align better to your personal values.
My favorite part of the finance and accounting space - every organization needs it so you have a certain amount of job security. I've transitioned away to the HR field but knowing the business and numbers is important no matter what field you ultimately end up in.
Finance encompasses a lot of pieces in the corporate space. There is treasury, tax, internal audit, corporate controlling, etc. Large companies often have internships or rotation programs (the latter you would work in different finance areas for 6 months before moving to a new area, generally for a 1-2 year period). It's a great way to get a feel for the area you want to focus in on and something I wished I had known about when I was graduating from college.
Other ways to positively impact communities would be working for non-profits or even going into forensic accounting for the government (the latter you could look at the FBI). You wouldn't necessarily make as much but these may align better to your personal values.
My favorite part of the finance and accounting space - every organization needs it so you have a certain amount of job security. I've transitioned away to the HR field but knowing the business and numbers is important no matter what field you ultimately end up in.
Loved reading this, thanks!
Jeddida