How Is Math Used In The Profession Of A Accountant Banking And Finance Careers

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Banking And Finance Careers

We all use math on a daily basis. While many of us just use the basics to keep track of how much money we’ve given and how much change we should get, those who want to pursue careers in banking and finance do more than that to keep their customers happy.

People who work in banking and finance are well paid for the work they do. Four of the fields many professionals go into include accounting and taxation, insurance, investment banking, and retail banking. Let’s talk about each of these.

For people to work in accounting and taxation, they must graduate and obtain a CPA or certified public accounting license. To learn more about what you’ll be doing, many need to complete on-the-job training with a legitimate accounting firm.

The training period is about three years and, subsequently, you can continue to stay with them, work for another company or carry out private practice.

Underwriters, like accountants, must be licensed. This varies from state to state, so you need to study and then pass the exam. Once you do, your career may lead you to sell property or casual insurance and life or health insurance.

You should also take more classes in the future because even though you already have your license, the rules change and you need to be aware of them.

Perhaps the biggest challenge in selling insurance is deciding whether to work for an insurance company or do it on your own. There are advantages and disadvantages to doing both. When you are working, you get a base salary, while those who choose to work for themselves can only earn money by earning commissions when a sale is made. How well you do it is entirely up to you.

Investment banking is different from regular banking because you are there to raise capital for a company by issuing shares or bonds. Later, you can even work with a team that advises companies on mergers and acquisitions.

Also under investment banking are capital markets. Here, the professional is responsible for trading bonds stocks and other financial products to increase the client’s portfolio.

But before getting into that, most entry-level staff first start researching certain companies and who their competitors are. Your information is then passed on to account managers who will then advise the customer.

Finally, retail banking that many of us are familiar with because they are the people we meet at the bank from the teller to the bank manager when we need to deposit or withdraw cash and apply for a loan.

Unlike accounting or insurance, you don’t need to get a license to do this type of work. You just need to be customer oriented with strong interpersonal and communication skills as you will be dealing with people.

Tax and accounting, insurance, investment banking, and retail banking are the four basic types of jobs for anyone looking to pursue a career in banking and finance after graduating from college. Career progression in either is excellent and this can only happen with additional training and sometimes a license. This can be achieved through part-time study, so all you have to do now is weigh your options and then go for it.

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