Careers in the Finance Sector

• Major employers of financial workers include commercial banks, investment banks, brokerage firms and investment trust companies. Most financial jobs require a bachelor's degree at minimum, and sometimes a master's degree. Many occupations require licensing or certification or prefer their employees have these endorsements. While a struggling economy may hurt the workforce, the need for professionals in the financial sector persists through hard economic times.

Financial Analysts and Managers

• Financial analysts guide and advise businesses or individuals on their investment decisions. They typically possess either bachelor's or master's degrees and many will have professional licenses or certifications. They watch trends and focus on specific industries or regions. They either are buy side analysts or sell side analysts. Buy sides advise companies with large amounts of money to invest while sell sides work with securities dealers to sell stocks, bonds and similar investments. Median annual wages for financial analysts in 2008 according to the Bureau of Labor Statistics (BLS) were $73,150, not including bonuses.

  Financial managers typically possess a bachelor's or master's degree, or have experience as a bank branch manager. They may work in government offices or for businesses or organizations overseeing the employer's financial situation. They may handle a variety of tasks, depending on their position, from overseeing the outflow of cash and financial reports to directing investment activities and handling acquisitions and mergers. A financial manager's median salary in 2008 according to BLS data was $99,330. However, bonuses awarded by larger firms drastically change that number.

Accountants and Auditors

• Those working in accounting and auditing typically possess a bachelor's degree, and for best employment opportunities some will have earned CPA or Certified Public Accountant standing. They are responsible for different types of work depending on their employer and position. Accountants and auditors may focus on overseeing the financial records and reports, paying taxes and supervising cash flow. Others may be responsible for checking the financial records of a government agency or company for errors, improper management or embezzlement. They may provide analysis of the financial records and develop budgets for firms. The median wage for accountants and auditors in 2008 according to BLS was $59,430. Higher ranking senior accountants at firms frequently receive benefits such as health insurance, paid leave, an expense account and use of a company car.

Securities, Commodities and Financial Service Sales

• This arena of finance employed 317,200 workers in 2008 according to BLS. However, there is high turnover among new hires. Those who stay in the field are likely to have more than the minimum requirements of a bachelor's degree and probably possess professional certifications and a master's degree. Competition in this market is high during periods of economic crisis, and additionally, the high pay and prestige of the job attracts more candidates than there are job openings. Positions in the field include stock brokers, investment bankers, traders and financial sales agents. The median salary in 2008 according to BLS for this industry was $68,680. However, these are not typically salaried jobs as most workers receive commissions based on their sales performance.