When we were young, we already had an idea of what we want to be when we go grow up. Sometimes, these changes as the years go by. While there are advantages in whatever profession we choose, we should also look at the disadvantages if this for instance will be a career in financing.
What is wrong with financing? If you think about it, nothing given that it is an honest job with a considerable rewards. But not everyone will be able to stay here for the long term which is why you have to weigh the pros and cons.
First, can you see yourself doing mathematical computations and giving advice to someone who is probably earning more than you? The truth is, some people can while others cant.
The best test of all will be how well you excel in subjects like calculus and economics in school. You have to be able to understand these concepts and then use these tools to your advantage. Then again, there are people who may be good in one subject or both while there are those who will probably excel in other subjects.
Learning concepts is one thing but doing this job every single day is another. A good idea will be to talk to professionals who are already in the financial industry and see how it is working there. Make up a list of questions and ask for clarifications if there is something that you do not understand.
It will also be a good idea to read up on the finance industry so you know what you are getting yourself into 4 years from now once you graduate from college.
If you still choose to have a career in financing, here are some of the disadvantages you will hear or experience. You shouldnt be discouraged about them but keep them in mind as you are starting your career in finance.
Professionals who have obtained their CPAs and start work as accountants do not earn that much compared to those who are involved in investment banking and consulting. Also, they handle multiple projects at certain times especially during the end of the financial year or when it is time to file income tax that means overtime just to get the job done.
There is also the pressure given that you are in a fast paced game and you are dealing with other peoples money. If you screw up, this could mean financial ruin for them and you will be hired on the spot. But those who succeed can get a promotion, earn much more than they did before and even get to work abroad.
If you think about it, there are advantages and disadvantages in just about any job or career that you decide to pursue. How you are able to deal with it is the challenge that you will have to face on your own. Those who can stand the pressure will probably stay for the long term while those who dont will quit and shift into another career.
Doing some research and getting your feet wet will probably give you an idea of how things are like working in the finance industry. This is what on the job training or internships are for so you know what its like in the real world.
With this information, you can then see if the advantages outweigh the disadvantages for you to purse a career in financing.