People who have knowledge in finance can work as financial analysts who have the mandate of advising their clients about making financial investments. Also, they can function as personal financial advisors thereby using their knowledge about insurance, tax laws, and investments to advise other people techniques of meeting both their short and long-term objectives. Moreover, they can work as accountants, auditors, collectors, and loan officers amongst other positions. Actuaries, Business financial managers, and Management Analysts are examples of professionals that use financial knowledge. Actuaries are experts who analyze uncertainty using statistic, financial theory, and mathematics to mitigate, measure, and manage financial risks. Most importantly, a majority of actuaries work in insurance companies, and although most of their tasks are performed in office settings, they can also travel as consultants to their clients (Financial managers, 2016).
Management analysts work hand in hand with companies in designing of plans for increasing their efficiency and profitability. Additionally, they collect and analyze data about the performance of different businesses and ascertain methods of improving their profitability. Most importantly, the occupation is regarded as one that exhibits low levels of stress and career fulfilling. Finally, Business financial managers are used by companies and organizations for consultations. Also, they are entitled to prepare business activity reports, financial statements, and forecasting. Nonetheless, their core task is to assist the management with their financial decisions. The entry level for Actuaries is Bachelor’s degree. For Management analysts, a Bachelor’s degree is the core requirement for a majority of entry-level positions.
Finally, Business financial managers require Bachelor’s or master’s degree depending on the type of organization. The median pay for Actuaries in 2010 was $96,700 (Wójcik, 2012). Contrary to that, Management analysts attained a median salary of $80,880 while Business financial managers registered a median pay of $97,270 in the same year. The salary range for people who have knowledge of mathematics is as low as $47,000 to as high as $130,000 (Petrillo & Constantino, 2011).
- Financial managers. (2016). Retrieved February 23, 2016, from http://www.bls.gov/ooh/Management/Financial-managers.htm
- Petrillo, T., & Constantino, R. J. (2011). Careers in Finance. The Portable MBA in Finance and Accounting Grossman/The Portable, 559-576.
- Wójcik, D. (2012). The End of Investment Bank Capitalism? An Economic Geography of Financial Jobs and Power. Economic Geography, 88(4), 345-368.
