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How do I know if a career in finance is right for me?

How might I know I can do well in that area? What are some key skills needed in the field and are certain personalities better suited for it than others?

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Doc’s Answer

Of course, the best way to decide if a career in finance is right for you is to consider the pros and cons to see if it’s a good fit.

PRO
💰 SALARY — Let’s start with the most exciting thing about finance jobs: the money, it’s no secret that finance jobs pay quite well — you can easily make six figures, so... if making a lot of money is your goal, a finance job is a surefire way to reach it.
⬆️ CAREER ADVANCEMENT — If you’re looking to grow in your career and reach higher positions in your career, then finance remains a good option. From investment bankers to portfolio managers, the sector will always have demand for finance professionals, and as new businesses crop up, this demand only grows higher, along with opportunities to build your skills and experience until you’re ready to climb higher up the corporate ladder. And the best part? This also means that you’ll be able to enjoy more job security. The more integrated you get with the field — and particularly, a company — the higher your chances of retaining your position.

CON
😖 STRESSFUL — Of course, no career is perfect, and there are some drawbacks to working in finance. First of all, financial jobs can be quite stressful. If you're working as a financial analyst or manager, you're responsible for making critical decisions that could have a major impact on your company's bottom line. That kind of pressure can be tough to handle day in and day out.
🧭 WORK/LIFE BALANCE — Another downside is that finance can be quite time-consuming. You may have little time left over for your personal life when you're working long hours crunching numbers and preparing reports. It's crucial to maintain a healthy work-life balance if you choose that kind of career path.
🧩 CHALLENGING — It's worth noting that the world of finance is always changing. You must always keep up with the latest changes in tax codes and regulations so you can advise your clients accordingly. You also have to stay prepared for sudden economic downturns; they happen from time to time, and they can have serious implications for businesses and individuals alike.
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Ádám’s Answer

Hi Adilay!

First of all it is good that you know you would like to work in Finance.
Luckily the Finance world is huge and you can cherry-pick your desired job role.
I am working with cash (payments made by clients), and as I have seen so far the universal skill you need is handling excel decently.
If you can create and optimize Excel spreadsheets and other databases it will reduce the manual workload time and will boost you and your team's efficiency.
As for personality types, you have to prepare for a mixed workload. Meaning that there are some days where you will have enough time to sip tea with your colleague, have time to chat.
There are also times when everything has to be finished by the deadline and you will have to be very careful to maintain your work-life balance and still complete everything as perfectly as possible.
This little challenge makes things fresh for me, time management is an absolute crucial skill, and it is something probably we all can further perfect.
That being said, the big corporations have realised this and made big advancements to prioritize being flexible with their employees, and it is a valued attitude.
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Hitesh’s Answer

Hi Adilay

A career in finance requires good aptitude for numbers and ability to interpret metrics in terms of their impact on real life scenarios. I would encourage you to do
1. Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis for yourself which will help you in finding out if finance is the one for you. Ref - https://www.mindtools.com/amtbj63/swot-analysis
2. Learn about finance subjects through regular school/college academic courses or online courses
3. Take internship assignments (typically last from 1-6 months and can be paid/non-paid) and explore if finance is the one whcih really aligns with your interest and passion.
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Rebecca’s Answer

Thank you for your question. The most important is to find out a career you have interest. I am glad to hear that you have interest in Finance.
Below re my suggestions :
1. There are many finance related careers, e.g. Finance Manager, Financial Analyst, Financial advisor, Investment Manager, Fund Accounting, Fund Manager, Banking, etc. You can find out more finance related careers online.
2. Find out more ion these careers and determine what you have interest
3. Speak to someone who are working in these career. 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!
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Angel’s Answer

To determine if finance is right for you, assess your interest in numbers, problem-solving, and analytical thinking. Strong attention to detail, communication, and decision-making skills are essential. A career in finance often requires financial modeling, forecasting, and risk analysis. If you enjoy working with data and have a logical mindset, you'll likely succeed. People who thrive in high-pressure, fast-paced environments and are comfortable with decision-making tend to do well in finance. A proactive, disciplined personality also helps.
Thank you comment icon Those are great things for me to consider, thank you! Adilay
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Simona’s Answer

Hi Adilay - good question, thanks. It very much depends on your interests and studies but I think that finance can offer you with the opportunity to work closely with sales and operation teams and be very active with decision making situations. You are not going to be working in silos with numbers all day long and alone. Your business analysis and attention to the details, and especially questioning the ''status quo'' of many processes can help the sales team a lot. You can become their trusted business advisor and participate directly to many decisions. Communicating for impact is also key - not so much forwarding notes left and right, rather providing sales and operation teams with clear messages.. if you do this, we will have xxx impact. Or, given the business situation, my recommendation is xxx because of yyy. You will also be working closely with other functions (accounting, pricing, business units, tax, quote to cash teams etc) and it's absolutely important to provide with a clear message on any specific situation and what your recommendation from finance stand point is. There are many functions within finance organisation and you can try rotate as well, after acquiring experience in some of the fields.. that helps to continuously learn and also approach various new topics, benefiting from prior experience.

All the best.
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