There are a variety of avenues to explore if you happen to be curious about pursuing a career in finance. However, depending on your preferences for how social you like to be in a professional capacity, some roles may be a better fit than others. Here’s a closer look at a few different careers in finance and what kind of personality types might be better suited for each role:
Finance vs. Accounting
Basically, the basic difference between these two areas has to do with whether you deal with people or data on a day-to-day basis. While accounting professionals produce reports, track trends, and help maintain budgets, payroll, and taxes, finance professionals often advise management at the executive level. Therefore, they should be good at working with people and presenting financials to executives in a conference room — rather than working largely on their own.
Accountants should be well-versed in working with numbers and spreadsheets. They should also be well-acquainted with taxation law as it relates to filing tax returns for business, individual, or government-level tax entities.
Financial Advisor
Financial advisors, also known as personal financial planners, often help families and high-income individuals plan for retirement, management their investments, and take advantage of tax breaks and deductions. Since they usually work with clients one on one and in person, it makes sense for advisors to be good with people.
Introverts and extroverts are often equally adept at working with individuals — it simply depends on your professional interests and if you feel comfortable educating clients and answering questions about potential investment opportunities like stocks and bonds.
Introverts and extroverts are often equally adept at working with individuals — it simply depends on your professional interests and if you feel comfortable educating clients and answering questions about potential investment opportunities like stocks and bonds.
Sometimes called private bankers or wealth managers, financial advisors typically help their clients manage their portfolios through a diverse range of investment and asset management assistance. In addition to meeting with clients to discuss and determine financial goals, they usually monitor clients’ accounts and research potential investment opportunities.
Financial Analyst
As opposed to working with individuals, financial analysts advise businesses and corporations using market data and analytics. Through identifying trends in the stock market, analysts can match a company’s financial data with its best potential opportunities for market sales and growth. Therefore, financial analysts are often well-versed in both operations management and data analysis.
In addition to searching for future potential investment opportunities, financial analysts are expected to be knowledgeable about tax law as it applies to different types of business. As I’ve discussed before, corporate financial advisors may help businesses prepare for government tax audits, verify tax records, or defend themselves from internal fraud or embezzlement.
Jobs on Wall Street
There are a variety of different roles available for those in hopes of landing a job working directly with the stock market on Wall Street — and those higher roles aren’t necessarily reserved solely for extroverts. However, landing one does require some preparation and networking — perhaps taking advantage of your alumni network, for example, and taking on financial leadership positions whenever possible.
Contrary to popular belief, introverts aren’t “wallflowers” who dislike interacting with others. Rather, they simply prefer having more meaningful, in-depth conversations — and that preference can be especially valuable for the type of high-level networking required of investment bankers and hedge fund managers.
Do you have interest in entering the finance world, or do you have experience with working in the financial sector? What would you tell someone new to the field or planning to apply for a position as a financial analyst or advisor? Share your advice in the comments section below.
