In finance, some specific niches are more demanding and exclusive than the rest. More about this below.
Whether you have been in the industry for a while or you're seeking to pivot, you are most likely mindful that wealth management is one of the most rewarding careers in finance. It is also one of the more exclusive niches given that entry requirements are more rigorous, considering the calibre of clients and the knowledge needed. Wealth management companies like St James Place are understood to give their customers a thorough service that covers everything from investments and acquisitions to tax guidance and retirement planning. The needs of high net worth individuals are completely different to those of ordinary financiers, suggesting that a custom service is required to satisfy these requirements. Given that wealth managers handle a few of the most valuable portfolios, continuous tracking and research is needed to ensure that customers draw out the most worth out of their financial investments. This is why wealth management is amongst the more demanding financial services jobs.
Getting into the job market and finding an excellent role can be challenging for any industry, but finding that first role in finance is a lot more hard due to how competitive finance markets can be. That stated, some sectors and specific niches are more accepting of fresh graduates with little to no working experience. In this context, some of the very best graduate finance jobs are in the insurance coverage industry. Insurance providers are among the biggest employers of finance graduates as they tend to have training schemes and jobs that are ideal for individuals seeking to get their foot in the door and get some initial work experience. Insurance coverage is also an excellent sector to learn brand-new skills, make some connections, and discover more about the inner workings of corporate finance. While there are various jobs individuals can opt for, companies like Hiscox would concur that starting as a trainee actuary can be a great idea.
Many individuals actively try to tap into finance thanks to the impressive pay plans and the career development opportunities the market offers. Like any other market, the more experience and proficiency you have, the most likely you are to take home a great pay. Largely deemed as one of the highest-paying finance jobs, financial investment banking is one of the most desirable fields in financial services. Investment banking mainly handles organising complicated financial deals such as reorganisations, mergers and acquisitions (M&As), and initial public offerings (IPOs). Investment banking companies like Evercore Partners service customers like huge corporations, pension funds, governments, and hedge funds. In lots of methods, investment banks are financial intermediaries that help with flows of funds and allotments of capital. They bring together those who need cash to invest with those who have cash to invest. Seeing that they're at the very top of financial institutions, investment banks only employ the very best and brightest.