Busted: Top Myths about Working in Finance
Finance is a complicated subject. Many people expect the industry to be filled with numbers people only interested in behind the scenes analysis and accounting. Others see only outgoing sales people. But finance encompasses a lot of possible topics, and finance professionals touch every aspect of business. If you have questions about what finance professionals do, here are some of the top myths about the industry and why they’re false.
- You can only be in finance if you have a degree in the industry. Sure, a financial degree might give some candidates a leg up, but it isn’t the only way to land a job in finance. Other types of business degrees, accounting degrees, or computer science degrees can also be helpful to finding a role that is suited for you. Related experience can also be as important as a degree.
- You’re paid only based on your performance levels. Financial jobs are often associated with commissions, bonuses, or performance based salary levels. And while this type of incentivized job is common, it isn’t the only option for financial professionals. Not all positions will be commission based.
- You have to be an extrovert to get the highest paying jobs. Many people assume that you have to be an outgoing extrovert to press the right palms and land the right opportunities. There are jobs for extroverts, introverts, and everyone in between.
- The best jobs are only available on Wall Street. You don’t have to move to New York and you don’t have to be in the industry of high pressure trading to work in finance. Finance impacts every company in every industry. Looking for analysis jobs, planning jobs, or other accounting jobs can be a better way to fit into the industry locally.
- Networking is the only way to find your first financial job. Many people assume the only way to break into the industry is to know someone who can help. While networking is an essential skill for any professional, you don’t have to start out knowing everyone just to land your first job. Networking also takes place on the inside and the better reputation you build by doing good work, the more your connections will recognize and refer you.