Careers in finance are appealing for their fast-paced nature and above-average salaries, but they can be hard to break into at first. That’s why it’s important for students to have a full understanding of the industry and its scope before they begin applying for internships or jobs. Whether you’ve got your eye on a job in real estate or as a financial analyst, a CPA or a CMA, then, it’s important to examine these facets of the field so that you can craft a career path that makes sense for you.

Start With Schooling

The first question you should ask when deciding what profession to pursue, in finance or any other industry, is what kind of schooling you need to break into the industry. Do you specifically need to get a degree in finance to pursue your career of choice, or can you major in another area, such as business, math, or even a topic in the humanities? While a finance degree is often helpful for careers in the industry, and is required for some, it’s not uncommon for companies to seek out team members with diverse backgrounds who might contribute to new, out of the box solutions.

Exam Demands

Another major concern for young people interested in finance careers are the testing requirements of the industry. Because of the sensitive nature of these jobs, many require students to pass specific certification tests. For example, if you’re interested in becoming a CPA, you’ll need to pass the CPA exam, in addition to completing at least 120 hours of relevant coursework. However, if you’re interested in a lower-ranking career, such as working as a bookkeeper, you don’t need to take any exams.

Internships And Industry Experience

Most students today will complete at least one internship before they move on to the job market, especially in competitive industries like finance, but how much experience you need before you can get a job depends on the role you’re pursuing. While CPAs really only need to complete their coursework and pass the requisite exams to be qualified for a full-time position, you need field experience before you can take the CMA qualifying exam because it’s a higher-level position. This is why many CMAs actually also hold the CPA certification – many work as CPAs before climbing the ladder to become CMAs.

Know All Your Options

One of the biggest issues that young people face when starting out in an industry is that they don’t actually know the field’s full scope. This is the case in most industries, of course; people know about the most high-profile jobs, but not other, behind the scenes roles, even if they think they know the field. As you explore your next steps, then, be sure to explore the diverse range of careers in corporate finance and related industries. This is how people end up missing out on jobs that could be a great fit for their skills and interests.

The good news about finding your professional fit is that you get more than one opportunity, so if you pursue a pathway and don’t love it, you can take your transferable skills to try something else within the sector until you find the right role. 

Still, the first step is always exploring the industry so that you know what your options are. Where will you begin?