When we think about working in finance, we rarely think beyond titles such as bankers, brokers and stock traders. In truth finance jobs and finance-related jobs can be found in almost every industry. At AIU’s recent Serious Talk Webinar, "Where the Jobs Are in 2014," our expert panel revealed that finance is one of the fastest-growing industries for 2014 and beyond. Webinar panelist Vicky Gore, Business Analyst for J.P. Morgan Chase, summed it up nicely when she said, “Everyone needs finance people. You can’t operate without cash.”
Here are three finance jobs that you probably haven’t considered:
The need for actuarial professionals is projected to grow by 26% from 2010 to 2020, according to the U.S. Department of Labor’s Bureau of Labor Statistics. With the rapid changes in the economy, actuaries are needed more than ever to help predict financial costs and minimize potential risks. Actuaries work across many industries, including human resources, insurance and investment banking, just to name a few. As Kate Wollensak, Director of Compensation for Morton Salt, explained in AIU’s Serious Talk webinar: “I don’t think that there is any industry that isn’t trying to manage cost, and when you are trying to manage costs, you need financial people. You need actuaries, especially with the cost of healthcare. In the manufacturing and service industries, and in the company that I work for, that healthcare cost is really important, and we rely on actuaries and financial people to help us look at those costs.”
Auditors review financial records to help ensure that institutions and organizations are accurate and in compliance with regulations. Auditor jobs are expected to grow 13% from 2010 to 2020, according to the Bureau of Labor Statistics. That’s 166,700 jobs. In recent years, regulation and compliance departments have sprung up across the financial industry in response to changes in finance law. In the AIU webinar, Gore explained, “I think auditing is another area that people don’t think about, especially with all the regulations and compliance with the securities industry. There’s lots of auditing, especially in financial institutions—that’s a big thing now—regulation and compliance, so I think that’s going to be an area where we see a lot of growth.”
Compensation and Benefits Professional
Compensation and benefits professionals analyze the job market and help determine how an organization compensates its employees. Compensation and benefits specialists, managers and analysts help ensure that pay and benefits are competitive so that an organization can attract top employees. While many in this role have HR backgrounds, it’s not hard to understand why people with financial backgrounds are particularly well-suited to work in compensation and benefits departments, “Finance is a great place for a compensation person, because we manage base salary, executive salary, bonus plans, sales compensation plans,” said Wollensak.
“Finance is everywhere,” noted Gore in the webinar. “I worked in HR in executive compensation. That’s part of finance.”
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