Finance
Finance is driven by technology and talent. Whether working on Wall Street or with a small business, finance professionals do more than analyze spreadsheets. They make data-driven decisions that can shape the future of an organization. Or change the trajectory of a client’s legacy. Now that’s paying it forward.

6.4 million
people work in finance and insurance*

$69,820
average salary
for business and financial occupations*
*U.S. Bureau of Labor Statistics
Finance definition
At its basic functional level, this field is all about managing money. It places great value on the use of data and analytics to help individuals and organizations make more informed financial choices.
Those with formal finance training can apply their skills within institutions, individuals, businesses, nonprofits, and government organizations. After all, finance is not just about balancing the books; it’s also about identifying opportunities for growth.
Finance duties
Responsibilities vary widely based on specialization, but typical finance duties include:
- Reviewing and preparing financial reports
- Monitoring financial accounts
- Preparing strategies for investment
- Managing financial activities related to mergers and acquisitions
- Guiding expansion goals
- Evaluating the finances of various departments in a company
- Tracking daily reports
- Working with accountants
- Monitoring cash flow
- Analyzing targets and strategy development
DECISION-MAKING
Being able to confidently make decisions using all available data is crucial to an organization’s success, and companies have begun to prioritize this skill in their new hires.

TECHNOLOGY
With wider access to financial data comes the need for advanced skill in using it effectively and efficiently. While automation has been used in the finance sector for quite some time, data science is becoming more important than ever. Knowing how to leverage the power of machine learning, artificial intelligence, and even blockchain technology will help increase your marketability to employers.
LEADERSHIP
Many positions in finance require you to provide leadership support or directly manage your own team. Having a strong set of leadership skills will help you to communicate effectively and ensure that organizational goals are being met.

PROBLEM SOLVING
Many finance professionals work regularly to solve complex problems. If investments perform poorly (and even if they perform well), one of your finance duties will be to pinpoint what happened and why. Good problem-solving skills can help you stand out, especially within companies that are seeking to improve their bottom line.
ATTENTION TO DETAIL
Finance majors spend a lot of time looking at details, including market updates and investment data. Generating models from such small bits of information is not always easy. Refining your attention to detail can help you achieve greater success, whether as a financial manager, an analyst, or in a different role.
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Financial planning
Financial planners are critical to helping individuals and businesses manage their funds to increase their wealth. They use their skills and experience to offer guidance and advice while developing strategies that help meet their clients’ financial goals.
Financial planners work in security firms, banks, insurance companies, and brokerage houses. Most planners establish relationships with individuals or businesses to understand their clients’ goals. They then develop strategies for achieving financial growth.
Their services vary widely depending on the client, but usually include areas such as:
- Tax guidance
- Billing and accounts receivable
- Budgeting support
- Education planning
- Portfolio management
- Insurance sales and management
- Investment guidance
- Retirement planning
- Estate planning
Corporate finance
Corporate finance professionals provide financial advice and guidance to medium-sized to large companies. While that may seem straightforward, there are many areas of specialization in this field. Most corporate and publicly traded companies employ finance professionals to manage everything from day-to-day operations to investments, acquisitions, mergers, and scaling.
Because of their wide range of duties, corporate finance professionals tend to be highly educated and experienced, especially those working as a chief financial officer (CFO) or vice president of finance. Leaders in these positions often hold a Master of Finance degree.
The tasks and services they provide usually include:
- Budget establishment and management
- Investment guidance
- Cash management
- Department-specific budget management
- Mergers and acquisition guidance
- Investment strategy development
Wealth management
Licensed financial advisors can pursue a path as a wealth manager for high-net-worth clients and corporations. These individuals use a holistic approach to manage their clients’ money and help them wisely plan for the future. They also work to reduce the potential for risk associated with certain investments.
Those who work in wealth management are often some of the most experienced financial graduates. They typically hold a master’s degree and advanced certifications or licensure. Many start out as junior wealth managers, supporting more experienced wealth managers with tasks such as drafting financial plans, reviewing investments, analyzing trends, and maintaining client communications.
Wealth managers need hard skills to perform duties such as:
- Investing funds
- Estimating and managing risk
- Managing portfolios
- Analyzing financial markets
- Working with investment vehicles like stocks, bonds, and mutual funds
- Researching new investment opportunities
- Preparing presentations
Financial analytics
Financial analysts forecast and understand what happened or what could happen with money. They examine the data from financial transactions and help large organizations and businesses make sound investments based on that data. Instead of being directly involved in the actual process of buying and selling, they develop strategies that guide the decisions of financial managers, CEOs, CFOs, and other key decision-makers.
Financial analysts are responsible for monitoring economic conditions, market trends, and risk management strategies. They also study income statements, balance sheets, and cash flow statements to create visualizations that help business leaders identify areas of needed change or improvement.
Tasks handled by financial analysts include:
- Data mining and analysis
- Investment planning
- Financial report analysis
- Investment strategy development
- Stock market transaction planning
- Financial model development
- Investment plan creation and management
Investment banking
Investment bankers work in some of the largest financial institutions helping to navigate their portfolios. Their job is to advise these companies on how to raise capital, expand operations, acquire companies, or merge with other businesses.
The primary responsibilities of investment bankers include:
- Monitoring financial markets
- Making recommendations on business acquisitions
- Guiding companies in raising capital
- Sharing investment advice
- Preparing reports and presentations
- Helping clients make high-stakes decisions
Accounting
Accountants manage the details and data of finances. They work in virtually all businesses, government organizations, and nonprofits to provide oversee the spending and receiving of company funds. Accountants can specialize in taxation, forensic accounting, auditing, or personal finance. Many accountants work to earn their Certified Public Accountant (CPA) licensure, which allows them to move into advanced or advisory roles.
Accountants often complete Bachelor of Finance and Master of Accounting degrees, though it is also possible to start with a Bachelor of Accounting. Those in this field generally love numbers and enjoy analytics. They are problem-solvers but are also heavily focused on statistics and oversight.
- Common duties of accountants include:
- Balancing financial records
- Managing payroll and accounts receivable
- Creating documentation to support financial planning
- Minimizing financial waste
- Federal, state, and local tax reporting
- Preventing criminal threats and fraud
Lending
Loan officers work within banks and brokerages and provide guidance to both individuals and businesses on borrowing money. They must follow their institution’s specific lending standards and requirements to ensure that their decisions are logical and objective.
Loan officers handle numerous responsibilities, such as:
- Processing loan applications
- Evaluating the risk of loan applications
- Assessing the risk to lenders and their affiliated companies
- Advising small businesses on loan opportunities
- Processing and managing mortgages
Business and finance job growth is projected at 5% from 2019 to 2029, which is faster than the average job growth for all occupations. During this period, approximately 476,200 new jobs should be added.
Here’s a brief look at where the industry is headed according to research conducted by Burning Glass Technologies:
Greater focus on technology
Demand for finance professionals is expected to increase as technology advances. Software and applications offer automated services, analytical tools, and forecasting features. Financial analysts will be needed to gather big data and other essential information from these systems in order to provide analysis and generate financial reports.
Growing need for skilled talent
Data compiled by Burning Glass Technologies indicates the finance industry is struggling to find and place highly skilled workers. On average, it took 35 days to fill these roles, and for some specialized positions it took up to 54 days. This data suggests that professionals with advanced education in finance may have an even greater advantage in the job market.
Increased importance of hybrid skill sets
Today’s finance-related occupations increasingly require a combination of business and technical skills. More employers are seeking well-trained professionals who not only have a solid grasp of finance principles and an understanding of industry trends, but also baseline skills in complementary areas such as communication, visualization, and research.
Top 10 skills in the finance industry
In the finance industry, 40% of the fastest-growing skills related to some type of software, while the remaining 60% require information literacy.
Here are the top 10 skills that will see the highest projected growth in the finance industry:
Skill |
Projected Posting Growth (2018-2023) |
---|---|
Operating Systems | 158% |
Java | 133% |
Data visualization | 131% |
Financial advisement | 111% |
Scripting languages | 85% |
Financial trading | 71% |
Marketing software | 71% |
Cash management | 62% |
Claims processing | 55% |
Insurance industry knowledge | 50% |
Source: Burning Glass Occupational Insights, 2019
Outlook for new graduates
If you have an eye for the finer details and an interest in helping people make smart investment decisions, then a career in finance could be your ideal path. It could also position you for growth in a dynamic industry that offers considerable earning potential.
According to the U.S. Bureau of Labor Statistics:
- As globalization continues, an increasing number of companies are turning to finance professionals to help them manage their cash flow
- Employment of financial managers is projected to grow 15% from 2019 to 2029, more than three times the average for all other occupations
- Examples of median salaries for finance-related occupations include personal financial advisor ($87,850), financial analyst ($81,590), and financial examiner ($81,090)
Relevant industry associations
We're here to guide your path.
Continue reading about careers and salary details for positions available in finance.
- U.S. Bureau of Labor Statistics
- Burning Glass Technologies
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