Finance Career Options - Career Planning and Placement (2024)

What is finance?

Finance is the management of money which includes investing, borrowing, lending, budgeting, saving and forecasting. There are four main areas of finance: banks, institutions, public accounting and corporate.

What can I do with a major in finance?

Finance can be the most lucrative of all business careers, and the Mike Ilitch School of Business at Wayne State University is the perfect training ground. With myriad opportunities for internships, mentoring and career networking, our graduates land positions that run the gamut from financial planning and investment portfolio management to negotiating mergers and acquisitions, stock brokerage and more all the way up to the C-suite.

Students graduating with a major in finance continue to be in demand as job opportunities are expected to grow at a rate faster than average for all occupations. This will be due, in part, to a growing range of financial products, an aging population seeking financial planning advice and new regulations that will likely require more examiners.

Learn more about undergraduate and graduate finance programsoffered at the Mike Ilitch School of Business.

Areas of finance

Traditional career titles

Entry-level titles in finance

Top industries in finance

  • Stockbroker
  • Budget analyst
  • Credit analyst
  • Financial analyst
  • Financial planner
  • Investment banker
  • Financial auditor
  • Financial analyst
  • Personal financial advisor
  • Investment banking analyst
  • Junior tax associate/accountant
  • Banking
  • Insurance
  • Investment Banking
  • Personal financial planning
  • Corporate and public finance

Guide to internships and full-time employment

Career fair

Career fairs are held each year for all business school students and alumni. Take advantage of this opportunity to meet with employers for internships, co-op positions and full-time employment. Login toHandshaketo search for upcoming career fairs and make an appointment with Career Planning and Placement for a resume review ahead of time!

Internships

  • Internships occur during the fall, winter and summer months. Students apply for internships throughout the year.
  • Recruiting for full-time employment typically occurs during the semester prior to a position's expected start date.
  • Browse the list of helpful resources on the back of this brochure, or apply directly on the company's website.

Quick prep tips

  1. Create your profile on Handshake.
  2. Submit your resume for review and approval on Handshake or schedule an appointment with a career advisor to review.
  3. Research potential internships and employers, apply for positions, and register for career fairs and other events.
  4. Meet with a career advisor for one-on-one guidance. Know your options! Research companies in accounting.
  5. Attend meet & greets, company presentations and career fair prep workshops, and mock interviews.
  6. Need help with professional attire? Make an appointment to check out the Mary Ann Goldsberry Professional Dress Closet located in Career Planning and Placement, Suite 299.

Helpful Resources

Finance Career Options - Career Planning and Placement (2024)

FAQs

Finance Career Options - Career Planning and Placement? ›

In the field of finance, there are three main categories of the industry: public, corporate, and personal. From financial planning to investment banking to insurance, people who pursue careers in finance power the world.

How to answer why do you want to pursue a career in finance? ›

Tips to answer "Why do you want to pursue a career in finance?"
  1. Showcase your passion. ...
  2. Highlight your analytical skills. ...
  3. Discuss the impact. ...
  4. Emphasize the challenge. ...
  5. Show your understanding of the industry. ...
  6. Link it to your skills. ...
  7. Highlight the potential for continuous learning. ...
  8. Discuss the potential for growth.
May 8, 2024

What are the three main areas of career opportunities in finance? ›

In the field of finance, there are three main categories of the industry: public, corporate, and personal. From financial planning to investment banking to insurance, people who pursue careers in finance power the world.

What are the 4 basic areas of finance? ›

The four fundamental pillars of finance are Corporate finance, Investments, Financial institutions and International finance.

What is the best career path for a finance major? ›

Top 10 entry-level jobs in finance
  • Financial analyst. A financial analyst — sometimes called a business analyst — uses financial data to guide business decisions. ...
  • Personal financial adviser. ...
  • Accountant. ...
  • Loan officer. ...
  • Insurance sales agent. ...
  • Budget analyst. ...
  • Auditor. ...
  • Tax specialist.

Why do you want a career in financial planning? ›

Here's why financial planning could be a suitable career for you. Do meaningful work – Financial planning is one career where the strong sense of purpose never goes away. In good times, you'll be able to help others plan for their kids' future education needs or build their retirement nest egg.

What attracts you to a career in finance? ›

Why Choose Finance: Example Answer 1. I want to work in finance because I enjoy the challenging nature of the industry and how fast-paced it is. I thrive under pressure. I enjoy problem-solving and analyzing data, but also realize that finance is not just about the numbers, it is about the people too.

What are the 4 career pathways in finance? ›

The finance industry is a critical sector that employs millions of people. The Finance Career Cluster prepares students for careers in financial and investment planning, banking, insurance and business financial management.

What is the best career in finance? ›

Highest-paying finance jobs
  • Investment banker.
  • Hedge fund manager.
  • Financial analyst.
  • Information technology auditor.
  • Financial software developer.
  • Private equity associate.
  • Chief compliance officer.
  • Chief financial officer.
Apr 18, 2024

What's the highest paying job in finance? ›

Top 5 Highest Paying Jobs in Finance
  • Chief financial officer (CFO)
  • Investment banking.
  • Hedge fund manager.
  • Private equity associate.
  • Actuary.
Feb 6, 2024

What are the 5 key areas of financial planning? ›

In this blog, we explore the five key components of a financial plan and how they work together.
  • Investments. Investments are a vital part of a well-rounded financial plan. ...
  • Insurance. Protecting your assets—including yourself—is as important as growing your finances. ...
  • Retirement Strategy. ...
  • Trust and Estate Planning. ...
  • Taxes.
Feb 9, 2024

What are the five F's of finance? ›

To be truly wealthy, you've got to find a way to convert those figures into experiences and memories. A smart way of doing this is to split your life into five categories: Family, freedom, fitness, fun and fortune. These are known as the Five Fs.

What are the three main areas or questions of finance? ›

Corporate finance has three main areas of concern: capital budgeting, capital structure, and working capital. Capital budgeting deals with how the organization will invest in itself. Some of the long term investment which an organization can take include investing in stocks and index funds.

What is the hardest finance career? ›

One of the most difficult jobs in Finance is to be the CFO of a PE firm or a PE-backed company. According to a Big 4 firm's survey, turnover of CFOs in PE and PE-backed companies is notoriously high, reaching 80% in less than five years; half of whom are gone within three years.

How do I know if finance is right for me? ›

What Traits Should I Possess? When dealing with finances, it is extremely important to be detail-oriented, organized, analytical and a good communicator.

Why are finance careers important? ›

Finance degree jobs can provide relatively high pay, stability, opportunities for advancement and consistent demand projections. Careers in finance may also offer flexibility for employees by allowing them to work remotely or in hybrid environments.

Why am I considering a career in finance? ›

Finance degree jobs can provide relatively high pay, stability, opportunities for advancement and consistent demand projections. Careers in finance may also offer flexibility for employees by allowing them to work remotely or in hybrid environments.

Why did you want to major in finance? ›

A finance degree can open doors to a broad range of dynamic professional opportunities — often with high earning potential in diverse industries. Finance majors learn fundamental business skills that can translate to careers in a variety of organizations in the public, private, and nonprofit sectors.

Why do you want to pursue this career answer? ›

When answering “Why did you choose this career?” you can point out factors like growth prospects, job security, scope, etc to help make a valid explanation. A possible answer to this HR interview question can be, “I have always found a certain satisfaction in writing and knew I wanted to make a career in content.

Why did I choose finance specialization? ›

It provides a wide range of opportunities in various fields, including insurance, banking, investment, and the stock market. The MBA in Finance is currently a well-known and favoured career option for people worldwide. An MBA in Finance can help you develop and improve your leadership, creativity, and other talents.

Top Articles
Latest Posts
Article information

Author: Duane Harber

Last Updated:

Views: 5560

Rating: 4 / 5 (71 voted)

Reviews: 94% of readers found this page helpful

Author information

Name: Duane Harber

Birthday: 1999-10-17

Address: Apt. 404 9899 Magnolia Roads, Port Royceville, ID 78186

Phone: +186911129794335

Job: Human Hospitality Planner

Hobby: Listening to music, Orienteering, Knapping, Dance, Mountain biking, Fishing, Pottery

Introduction: My name is Duane Harber, I am a modern, clever, handsome, fair, agreeable, inexpensive, beautiful person who loves writing and wants to share my knowledge and understanding with you.