Considering a career in finance? What you need to know

This article was written by Karl Hodson, UK Business Finance. Karl is responsible for helping businesses across the UK raise funding for a variety of purposes such as working capital, expansion and capital equipment. He has specialist knowledge of raising finance through invoice and asset-based lending, crowdfunding, loan and equity funds and Government schemes.

What you need to know before embarking on a finance career

With such a broad spectrum of roles to choose from within finance, it’s no wonder that it’s a popular choice of career for many. From bookkeeping to chartered accountancy and management accounts, a career in finance could help you work abroad, go into business for yourself, or work around a young family’s needs.

In fact, it’s not an overstatement to say a career in finance offers you a world of opportunity, both in terms of the work you do and where you do it. Globally recognised qualifications make it easier to work abroad if that’s your dream but career decisions are notoriously tricky to make with confidence.

You’re unlikely to be short of work

Success for business owners often relies on finding the right professional guidance and expertise, as without it, a business can easily flounder financially. Taking cash flow as an example, there may be insufficient focus on the cash a business owner has available and too much focus on profit.

So although working in accountancy could be challenging at times, it’s also rewarding as your input and professional expertise make a difference to other people and their businesses.

You can study flexibly for a career in finance

Distance learning offers you valuable flexibility, particularly if you have a young family or other life commitments that take up your time. Studying in this way provides balance so you’re not overwhelmed and can learn from the comfort of your own home.

Additionally, some employers in the finance sector may cover some of your training costs if you work for them. This can be highly beneficial as earning while you learn provides real-time opportunities to apply your developing knowledge.

You could work globally

Finance gives you the opportunity to work around the world. International finance qualifications can take you anywhere, which is an exciting prospect if you dream of living abroad or travelling.
The AAT qualifications, for example, are internationally acknowledged and trusted by employers worldwide, as are ACCA and CIMA, and this offers you career stability.

You’ll have diverse career options now and in the future

The finance sector is evolving with the adoption of new technologies and ways of working. This is changing the ‘traditional’ finance roles, such as that of a chartered accountant, which typically included providing advice based on previous years’ figures and accounts.

These days, it’s more likely that you’ll fulfil the role of business advisor, offering professional guidance on multiple issues from how to grow a business reliably to tax efficiency and the best types of accounting software to use.

Is a finance career right for you?

A career in finance is very attractive in many respects. It can be varied with plenty of options should you decide to change roles in the future. You might move from working in the public to the private sector, for example, or decide to set up your own accountancy practice.

You may have to work long hours depending on your job and your employer’s expectations, but finance is generally a lucrative career that offers a variety of entry routes and flexible study options that offer some balance in your life.

Speaking to professionals already working in the industry is always a good idea before embarking on a career as you gain a fresh perspective on what might lie ahead and perhaps become aware of roles that you hadn’t previously considered.

Considering a career in finance?

An AAT qualification might be the perfect fit if you are new to the finance industry, it will expand your career options and better prepare you for the ACCA and CIMA qualifications. You can try any of our qualifications for free for seven days.