Finance Schools

finance analyst reviewing spreadsheets on a computer

Money makes the world go ’round, and those who attend a finance school have the chance to handle it directly.

From researching services to setting the stepping stones of a client’s financial future, these employees meet with customers to develop personalized spending plans for investments like retirement.

Education & Training

Anyone interested in learning the ins-and-outs of the trade can enroll in finance classes.

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These courses usually include accounting, business, and economics. Once they’ve finished their finance education, qualified candidates often seek employment as bankers, analysts, and more.

Benefits of a Finance Program

Whether you’re looking for finance work as a bank teller or wish to one day manage the funds of a major corporation, this diverse field offers a wide variety of opportunities for students. Typically, those who have a knack for math, business, and economics do well in these positions.

Finance degrees give individuals the chance to learn how to manage money, create detailed savings plans, and help others invest in their futures. After graduation, hopefuls can seek finance jobs in places like insurance agencies and banks.

New hires typically spend more than 40 hours a week in the office, with the occasional need to work weekends and holidays. However, there is room for growth and advancement within this highly competitive industry. Those who put in the time and effort receive pay raises and more finance benefits.

Salary

In the world of finance, there are many different specializations so it is difficult to pin point one overall salary.

But for the sake of reference, below is a table for annual and hourly wages for financial advisors.

Area Name Hourly mean wage Annual mean wage
Alabama $49.03 $101,990.00
Alaska $56.26 $117,030.00
Arizona $45.58 $94,810.00
Arkansas $41.96 $87,290.00
California $56.00 $116,480.00
Colorado $52.39 $108,970.00
Connecticut $55.00 $114,400.00
Delaware $51.30 $106,700.00
District of Columbia $54.69 $113,760.00
Florida $43.85 $91,210.00
Georgia $44.92 $93,440.00
Hawaii $40.89 $85,060.00
Idaho $38.33 $79,730.00
Illinois $54.33 $113,000.00
Indiana $49.41 $102,770.00
Iowa $43.45 $90,370.00
Kansas $39.47 $82,090.00
Kentucky $47.00 $97,750.00
Louisiana $36.96 $76,880.00
Maine $40.06 $83,330.00
Maryland $53.29 $110,840.00
Massachusetts $55.09 $114,590.00
Michigan $43.97 $91,460.00
Minnesota $48.54 $100,960.00
Mississippi $40.44 $84,120.00
Missouri $40.50 $84,240.00
Montana $41.45 $86,210.00
Nebraska $37.22 $77,420.00
Nevada $46.85 $97,440.00
New Hampshire $42.65 $88,710.00
New Jersey $61.10 $127,090.00
New Mexico $44.91 $93,420.00
New York $67.73 $140,880.00
North Carolina $46.93 $97,620.00
North Dakota $37.64 $78,290.00
Ohio $43.06 $89,560.00
Oklahoma $44.99 $93,570.00
Oregon $48.89 $101,700.00
Pennsylvania $44.37 $92,290.00
Puerto Rico $27.53 $57,260.00
Rhode Island $45.14 $93,900.00
South Carolina $40.99 $85,270.00
South Dakota $40.30 $83,830.00
Tennessee $42.95 $89,330.00
Texas $49.72 $103,420.00
Utah $35.81 $74,490.00
Vermont $45.70 $95,050.00
Virginia $51.15 $106,380.00
Washington $46.43 $96,580.00
West Virginia $38.53 $80,140.00
Wisconsin $47.04 $97,850.00
Wyoming $62.22 $129,420.00

Occupation:Financial and Investment Analysts (SOC Code132051)
source: data.bls.gov

Along with competitive pay, employees often find several finance benefits, including:

  • Job security
  • Medical insurance
  • 401(k) plans
  • Paid vacation and time off
  • Healthcare coverage

Below are annual and hourly wages by state.

Career Overview

What Do They Do?

Employees perform a range of finance duties. In some settings, an associate must do heavy research to compare economic trends and outcomes in order to create a personalized plan for their customers.

Based on this data, they recommend the best services and plans to meet their customers’ needs.

In law firms and other businesses, some individuals may assist their coworkers in gathering information and writing press releases to send throughout the industry.

It’s important for interested candidates to possess good communication skills.

Analysts often spend time discovering new financial patterns. They then use that data to create spreadsheets full of information about stocks, bonds, and other investment types for customers or businesses.

Because of this, organizational and technical abilities are key.

Many employers provide on-the-job finance training for new hires.

However, those candidates that stand out most familiarize themselves beforehand with the following finance tools:

  • Excel
  • PowerPoint
  • ReadyRatios
  • PlanGuru
  • MATLAB

What Types of Skills Should Finance Workers Possess?

Math

Those who are good at math tend to succeed in finance careers. In positions like bankers and advisors, these employees spend the day crunching numbers and keeping revenue in check for businesses.

A proficiency with numbers ensures that fellow team members and bosses get accurate results to best serve the company.

Problem Solving

Additionally, employers look for people who are problem-solvers. As in most positions, unplanned issues arise that need immediate attention. Successful individuals quickly refer to their finance education and can easily find a solution.

In some cases, those in finance careers may need to oversee the projects of a large group of people. The ideal candidate can take on a leadership role, delegating responsibilities and making sure everyone is on the path to success.

Likewise, hiring managers seek team players who follow directions and work well with others.

Communication Skills

Analysts often meet face-to-face with customers to help them manage their personal funds and meet their short- and long-term goals. This can be an overwhelming experience for some people. As a financial analyst, it’s important to have the ability to translate finance jargon into everyday terms.

Other useful skills include:

  • Strong attention to detail
  • Ability to take on multiple tasks and projects at once
  • Excellent verbal and written communication skills
  • Familiarity with computer programs and IT software
  • Analytical mindset with a research-based background
  • Willingness to follow all necessary state and federal guidelines
  • Acknowledge the importance of meeting deadlines
  • Ability to both lead and perform as a part of team

Are There Special Job Requirements for Finance Jobs?

When it comes to finance requirements, recruiters mainly look for candidates who have finished their finance classes from colleges or trade schools.

For most entry-level positions, an associate’s or bachelor’s degree in business is sufficient.

After gaining finance experience for their resumes through internships or other relevant positions, some pursue finance certificates.

These certifications showcase a workers’ area of expertise. Some common examples are:

  • Certified Public Accountant (CPA)
  • Certified Financial Planner (CFE)
  • Chartered Financial Consultant (ChFC)
  • Chartered Financial Analyst (CFA)

Ways to Get Hired

In order to promote their services, financial analysts often hold forums for potential clients. These events provide the opportunity for a recruit to highlight their marketable finance skills while networking. Many hopefuls use this time to exchange portfolios with others.

Some workers may also create a website to promote their business. Having a solid platform that customers can access anywhere allows associates to gain more supporters and exposure. This is also a good place to display a finance resume and to elaborate on offered services.

Work Environment

Financial analysts typically sit at a desk. Because of the long hours spent in meetings, hosting seminars, and conducting research, many employees try to make their offices as comfortable as possible. In addition to computers, they use standard finance equipment and supplies like calculators, printers, scanners, and more each day.

Most new hires work more than a 40-hour week. In addition to longer business days, they may need to meet with clients or attend workshops during the evenings and on weekends. Additionally, some entry-level employees earn their money on commission-based projects. As a staff member’s experience grows, their benefits and pay get better.

Where Do They Work?

Once a candidate has earned a finance certificate or degree, job hopefuls can apply at places such as:

  • Banks
  • Insurance companies
  • Law firms
  • Real estate agencies
  • IT services
  • Healthcare facilities
  • Manufacturing industries
  • Tax centers

Can You Work Remotely?

While there are several in-house opportunities available in this field, candidates can sometimes find remote finance jobs. Associates and their employers communicate electronically to perform a variety of finance duties.

Larger healthcare facilities, law firms, and even some banks looking for financial help often have opportunities for those looking to work from the comfort of their homes. Most commonly, these corporations offer jobs for part-time bookkeepers, accountants, and advisers.

Various Career Options

Many companies have some sort of finance work available. For instance, those with a finance degree can work in a bank as a teller or account manager. These individuals help people manage their savings daily and input important data.

After graduation, some finance trade school students can also seek positions at law firms as accounting assistants. Typically, these workers schedule and prepare billing for clients. They also keep records of incoming and outgoing payments. Experienced hopefuls can expect to make about $40k annually.

Medical billing is another option for those with a finance education. People skills are important for these positions, as they spend most of the day calling patients and insurance agencies.

Another route for finance careers is a risk analyst. Their main goal is to make sure the company avoids poor investment decisions. Associates assess a business’s portfolios and track their growths and losses. As a full-time staff member, employees can earn about $53k a year.

Job Outlook

As the economy continues to change, so does the demand for finance careers. The general trend, however, is positive. As this field is continuously growing, there is a high amount of competition. Job hopefuls can seek finance work in banks and large corporations.