Monday, May 24, 2010

What are the top growing financial jobs in the US?

I'm 15 and I want a career in the financial business. What will be some of the highest paying financial jobs in 7-10 years? Can I get internships somewhere at my age? What classes should I be taking right now?

What are the top growing financial jobs in the US?
Ok let's start with what you can do right now! You are fifteen and you want to enter the finance world when you are done with college. Finance used to be all about numbers, and while they are still the backbone of valuation it is as important if not more important to have a good understanding of computer software programs especially EXCEL. Employers are going to want you to be well-rounded, good with numbers, but likable and interesting. So take history courses, learn a foreign language, play an instrument and be well-rounded. Take advantage of high school because they offer these things and college won't as much and the real world really won't at all.





Now with that said, you really do want to make sure you are strong in your math fundamentals. Many high schools offer some general business classes like an introduction to accounting. If yours does then take it! Also, see about joining groups like FBLA (Future Business Leaders of America, and DECA which is geared towards marketing students.





Finance companies generally don't offer internships until you complete two years of college but at your age having any job is a good start. Work on building your work ethic up, and learning how to work as a team and with people you don't like in any type of professional setting will be invaluable experience. Best advice is to go after a retail job when you are 16 and when you start college attend every career/intern fair they offer.





Ok now telling you what jobs will be the best 7-10 years from now definitively just isn't possible. Finance moves to fast for that. Ten years ago was an eternity in the finance world. Now with that warning their are jobs that are always the highest paying. The first is to become an investment banker. They are the rock stars of finance, and can make millions. They ride in corporate jets, buy expensive things and they do so because they absolutely love what they do. They have to because they are at work 80-120 hours a week. A friend of mine is an IB for Deutsche and when he first started he was working from 6AM to midnight, seven days a week, with at least one day where he didn't go home at all.





Now it isnt always like that, and it does become a bit more normal eventually. However, you will be working a good 70-90 hours after you have some experience on a consistent basis.





The next best high paying finance job is going to work for one of the Big 4 accounting firms in public audit as an accountant when you graduate. They get started at the highest pay, but again work some grueling hours, and because they are in audit they have some horror stories. Most though use the experience to open doors to move to better jobs. Public audit will always pay well.





Financial sales is always a possibility as well. However, it requires an extraordinary amount of charisma to succeed in that field at a young age so you would have to determine what your strengths are, and ask yourself if you are ok working on commission because if you are good you can get paid a lot but if you struggle then you are hard pressed to pay your bills.





Either way at the age of fifteen you should be focused on getting into the best college you can. The way to do that is to do outstanding in school, get a high GPA, study study study for your SATs, play a sport or two, join a club or two and make sure you have a couple of good relationships with teachers because they are crucial for recommendations. Make school your priority above any retail job and look early at what programs you want to apply to.





Cheers, and good luck!
Reply:The most glamerous jobs are in the broker or investment advisor jobs. However these are highly copetetive and you can expect to have to perform greatly or be weeded out. The other areas of finance, banking and accounting are still pretty tried and true. Most jobs in marketing, sales, banking, etc. don't even require a degree in business but a lot of personality and desire. Accounting requires a 5 year degree now, a Masters Program and you can expect to have a job waiting for you when you get out of school.


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