In my previous post I was focusing on the main reasons why you should not go for the career in the financial markets. Well, even though this field has its own limitations, it still is one of the most profitable sectors and it can make your career go sky-high. Let’s take a look at the most prospective niches for a career in the financial services industry and the most needed jobs.
Fintech startups
Fintech aka financial technologies is a fastly growing industry. Started with such companies as PayPal, fintech now is subdivided into such quite a few sub-niches, those include insurtech, regtech, financial data aggregation, payment systems and so on. The largest known fintech companies are PayPal, Skrill, Funding Circle and more.
The most needed jobs in fintech are developers. If you know how to code and would like to make more – fintech is certainly a place to be. The most common languages are Java and Ruby, hence if you know them, make sure you have send your CV to a few fintech companies when looking for a job. If you cannot write code, you may certainly try applying to fintech companies as a business developer or as a marketing specialist, those vacancies seem to be quite common too.
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Financial Brokerages
Brokers are the intermediaries between a trader and the market. The more volume a broker generates, the higher its income is. Hence, what is the most needed job in this sector? That’s right – sales. If you are good sales person than financial brokerage firm will be a perfect place for you. The salaries seem to range between quite low and average, yet the bonuses can be very high. If you don’t know where to start, pick up your potential employer from the list of the best Forex brokers and send over a few applications. Most of the jobs will require you to reside or locate either to Cyprus or London, yet these brokers do not have high requirements. Should you be interested in a different type of a brokerage (stocks, futures etc), in many cases you might be required to pass quite a few exams.
Apart from the sales force, brokers often need customer support officers, translators, content writers and social media managers.
Banking institutions
If you are looking for a safe career in one of the oldest financial branches – banking is the right sector for you. It is a great opportunity for people that are not looking for a fast growth, but rather prefer steady and calm development of their career. Once you have graduated and are ready to hit the job market, apply for a bank, get a clerical job and do it right. Within a few years you might be moved up your rank. After you have gained some 5-8 years of experience you might already become a branch or a department manager. The pay is mediocre, the bonuses aren’t large too, but you have quite some job security when you go for banking. It is a great opportunity for those who aren’t looking for a challenge and don’t have any particular experience.
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Summing it all up
A career in the financial services industry can be a great place to be working, especially when you can pick up the company in the right niche. Developers are recommended to join a certain fintech company, yet marketers and business developers can go for it too. Financial brokerages are perfect for the sales guys. Banks are great for those who lack experience and aren’t motivated by the challenges.
