Since money makes the world go round, working in finance should be exciting and thrilling, right? After all, one would be working in the same field as the millionaires and billionaires around the globe.
Many have mixed feelings about it. The finance industry, just like any other industry, has its own pros and cons. But all those factors combined make the industry what it is, popular and most-sought out.
Read through this list of top things that describes everything that is included in a life of a finance professional. Both positive and the not-so positive aspects are included in this list.
All That Is Involved In the Life of a Finance Professional
Pro: High Income
The best part of the finance sector is the income. It is not only high but also relatively stable. Whether you work as an analyst or an accountant or a manager in the financial field, the pay is good.
Many do enter the financial sector for money and glamour in life. After all, not many people get to flaunt a rather large pay slip.
Con: Long Hours
The downside of any job in the finance industry is the requirement to put in long hours. It is basically the most common aspect of finance professional. Though working hours are generally from 9 am until 5 pm, it is really difficult to stick to these hours.
Especially in specific sectors such as banking, work can come in anytime. Such work is unexpected and unannounced, but requires immediate attention. At times even weekends end up being workdays. So, long hours in financial sector generally mean longer than long hours.
Pro: Career Advancement
Another perk of working in finance is the chance to climb up the corporate ladder. There are ample opportunities for career growth in various avenues in finance. One can venture into investment banking, private equities, venture capitals and much more.
Each avenue is interesting and exciting. Not many sectors can offer such career opportunities and growth.
Con: High-Pressure Environment
On the other side, the finance environment is definitely pressuring and stressful. After all, the main crux of this industry is to deal with fluctuating money markets. Though a high-pressure environment can teach one endurance, patience and perseveration, not all can stand up to the pressure.
After a while, it takes a toll on one’s mental and physical health. Most companies now try to lessen stress in workplaces with multiple activities, games, trips and therapy sessions. Even then, it does require strength to continue working in this industry for long.
Pro: High Demand
While career opportunities are often quite high in different fields of work, careers in finance are always in high demand. There is no dearth of opportunities available for skilled and experienced professionals which also bring in a sense of stability to the profession.
Con: Number Crunching
At the same time, the career isn’t the most exciting one. Everyone and their friends find crunching numbers a dull and monotonous job. But crunching numbers is what keeps the finance industry alive and thriving. Though some love to crunch numbers, most find it boring, monotonous, or difficult to do it on a daily basis for years on end.
Unlike other fields that involve a bit of creativity, the finance industry offers no reprieve from the droning work with numbers.
Pro: Meaningful Work
You may wonder how a life in finance can be meaningful when it is all about money. There is more to working in finance than just making money. On a macro-level, the finance industry maintains the country’s economy whereas, on a micro-level, it enhances everyday life.
A finance professional can help people to achieve their financial goals and security by assisting them to plan for their retirement or secure a mortgage. People need help in investing their savings or planning their children’s education.
Helping people on a daily basis does add meaning to one’s life. When those working in the financial sector view their work in this manner, it does bring in an element of purpose to one’s life.
Con: Less Appreciation
Even though it is meaningful work, a well-known fact among the financial sector is that many are not appreciated for their work. Even after putting in long hours and lots of work, many feel that their contribution is overlooked or that they are underappreciated.
It could be because your superiors or bosses might be quite busy with their own work or it could be due to the fact that there is so much competition in the industry that makes it difficult to single-out and appreciate each and every one. Whatever the reason is, not being appreciated is a demotivating factor, and can cause one to lose joy at work.
Pro: Financial Perks
Anyone who works in the financial sector has access to information on how the finance industry works. They would know where to invest for high returns, how to set up a successful retirement fund, where to save, and where to spend.
They can evaluate any financial service or product and determine whether it can be useful or not. Unlike others, they don’t have to spend much time and energy in research and finding out about various schemes.
Con: Unbalanced Lifestyle
Since working in the finance sector means long hours on a chair, it promotes a sedentary lifestyle. Such a lifestyle causes an imbalance in life. It could lead to future health problems because humans are designed to be active.
Professionals in the finance industry also find time as a scarce commodity. With the long hours and the high stress involved, making time for family and friends becomes increasingly difficult. One must learn to cope with busy and erratic schedules. All this could lead to increased levels of stress and an imbalanced lifestyle.
Working In the Finance Sector
Despite all the advantages and the disadvantages, working in finance can be positive if one has enough motivation and the passion to succeed in this field. Though the life of finance professional is completely different from other fields, it comes with its own pride and glory that isn’t easily found elsewhere.
is an enthusiastic reader and a prolific writer. She writes on investments
, loans, money tips and other related topics. Aysha is an active member of Shelter NGO Malaysia