5 Best Careers for People Who Like Managing Money

Are you the type of person who is detailed oriented – you’ll track down that last penny of profit or loss – with above average math skills? Do you have keen analytical skills, exceptional written and verbal communication skills, and a working knowledge of some of the most common financial software programs?

If so, a career revolving around financial matters and the management of money might be a good fit for you. Here’s a look at five of the best careers for people who like managing money.

Money management jobs

1. Accountants

Accountants maintain and inspect financial records to make sure they are correct. They prepare tax returns and calculate the amount of taxes owed.

They may need to prepare explanations of their findings and present those reports in written form, verbal form or a combination of both.

They may do general accounting or specialize in a particular field such as business or health care and work for private or public companies or government agencies.

Education and Certification

Most companies prefer individuals with at least a bachelor’s degree in accounting or a related industry, and some may require accountants to be Certified Public Accountants (CPA)s.

Job Outlook and Wage Potential

In 2010, accountants earned a median wage of $61,690, and the job outlook is slightly above average with a projected growth of about 16 percent over the period 2012 to 2020.

2. Financial Analysts

Financial analysts work with individuals, businesses or a combination of both. They use their financial expertise to help others make decisions about where, why and how to invest their money. They may work in a financial institution or stock brokerage or they may work as independent financial advisers.

Education and Certification

Most financial analysts have at least a bachelor’s degree, and many go on to acquire a master’s degree in finance, business or a related field to open up advanced job opportunities or lucrative promotions for their careers.

Licensing and certification are available for financial analysts through organizations such as the Financial Industry Regulatory Authority (FINRA) or the CFA Institute, and some employers may require candidates to either have these credentials or obtain them after becoming employed.

Job Outlook and Wage Potential

The job outlook for financial analysts is very good, with a projected growth in this occupation of 23%, which is faster than average, and could mean this becomes one of the fastest growing occupations in the financial field in the next 10 years. Median wages for financial analysts in 2010 were $74,350.

3. Loan Officers

If you’ve ever purchased a car or a house or obtained a loan, you probably dealt with a loan officer. You filled out the appropriate paperwork and submitted it, and the loan officer analyzed the information, verified your personal, financial and employment information, and either approved or declined your application.

In addition to working one-on-one with individuals who want to borrow money, many loan officers prospect for new clients by asking for referrals, networking and other techniques.

Education and Certification

Depending on the employer’s requirements, loan officers may have a minimum of a high school diploma or the equivalent or they might need a bachelor’s degree in a related field. Individuals who want to become mortgage loan officers will need to obtain the appropriate licenses.

Job Outlook and Wage Potential

Growth in the industry is about average with a modest 14% job growth predicted for the next decade. Median 2010 salaries were $56,490.

4. Bookkeeping Clerks

Being detail-oriented is a definite plus for bookkeeping clerks since their duties include (but are not limited to):

  • Billing and invoicing clients
  • Entering data into financial software programs
  • Recording financial transactions
  • Producing financial reports and records
  • Verifying the accuracy of financial records

Education and Certification

To become a bookkeeper, you should have working knowledge of accounting and bookkeeping principles, expertise using financial software programs, and a high school diploma or the equivalent. Depending on an employer’s criteria and requirements, you might also need to have or obtain an associate’s degree or bachelor’s degree in accounting.

Job Outlook and Wage Potential

Job prospects for this occupation are average and 2010 median wages were $34,030.

5. Budget Analysts

Specific duties for a budget analyst will vary depending on their employer, but in general, budget analysts prepare budgets for public, government, or private entities. They monitor expenditures and make recommendations for ways these entities can organize their finances more efficiently. They may develop new budgets, review and analyze existing budgets, or merge several departmental or project budgets into one budget.

Education and Certification

Most companies require candidates to have at least a bachelor’s degree, and individuals with a master’s degree could find that an advanced degree gives them some preference in the job market.

Job Growth and Wage Potential

Growth in this industry is projected to be slower than average over the next decade, and in 2010, budget analysts earned a median wage of $68,200.

Working in a financial field or managing money doesn’t require one to be a mathmatical genius, but you should like working with figures and solving math problems. Attention to detail is a key qualification as is good communication skills.

Are you still in school and wondering what the best career path for you might be? You’ll find lots of tips and information about the best college courses or job opportunities when you read “Your Guide to the Best Careers and College Majors to Pursue. “

Resource:

Bureau of Labor Statistics, 2012-13 Occupational Outlook Handbook

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