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There are three types of college students. The first person chooses a major that he or she is passionate about and wants to work in the industry. The second is someone who chooses a major where he or she has the potential to earn a lot of money in their future career. The third is undecided as to what his future holds. With most households still struggling financially, most of today’s students fall into the second category, often going on to careers in law, finance, and other high-paying jobs.
These careers are not made without a lot of hard work. This is especially true in finance. If you are thinking about getting a job in the financial industry, understand that there are high pros and cons.
The advantage of finance jobs in terms of salary is that they offer extremely competitive rates. The company you’re working for will dump most if not all financial matters on your desk, and it’s your job to sort them out. They will pay you higher amounts of money so that they make more money and lose less.
The fact that a higher salary awaits you in a finance job is also a disadvantage. When you talk about competitive rates, the emphasis is on “competitive” because you have to stay competitive to keep those rates. This translates into a lot of work and high stress levels, which leads to burnout if not managed effectively.
Your working hours will depend on your job position. For example, if you are a financial advisor, you have complete control over your working hours. You can work whenever you want and get paid whenever you want. The downside of this advantage is that you have to be really good at it to stay in the industry. Otherwise, you will not be in demand at all.
Job security is another pro of a financial career. The good news is that as long as businesses are open, there will be no shortage of customers. The downside is that some companies hire finance people when the business is booming, but fire them when it doesn’t. To counter this, you just have to do your job well.
Note that a financial job has its advantages as well as its disadvantages. It’s best to remember this in order to be mentally prepared for the obstacles that may come and not be shocked by how difficult a career in finance can be.
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