Finance career paths: Find your fit

The finance industry is vast and dynamic, encompassing a wide array of career paths for individuals interested in financial services. Individual professionals and large institutions that make up the finance sector support both businesses and consumers with innovative financial solutions. Finance career paths can vary significantly, ranging from analytical roles such as financial analysts to high-energy sales positions like those found in wealth management. As a growing field, finance offers strong prospects, and demand for business and financial occupations is expected to grow faster than the national average. Finance professionals earned a median annual wage of $80,920 in May 2024, notably higher than the national median of $49,500.

Financial firms represent a diverse landscape, including auditors, banks, insurance providers, wealth management firms, real estate companies, hedge funds, and venture capital firms, among others. In the U.S., finance career paths are shaped by a robust regulatory environment with agencies such as the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and the North American Securities Administrators Association (NASAA) overseeing and supporting industry standards.

When exploring finance career paths, it’s helpful to consider three primary directions: personal finance jobs, corporate finance, and public finance. Each area offers unique opportunities for specialization and advancement within the finance industry. In the sections that follow, we’ll take a closer look at these three categories and provide guidance on how to pursue a successful finance career in each field. We’ll also outline the key financial licenses and credentials required, helping you navigate the next steps in your professional journey.

Personal finance

Personal finance jobs are dedicated to supporting individuals in managing their finances and making effective financial decisions. These jobs are often the most visible within the finance industry, as they involve working directly with everyday people (also known as “retail” or “retail investors”) to help them achieve their unique financial goals. For many professionals, personal finance jobs are highly rewarding due to the direct impact they have on clients’ lives.

Personal finance jobs typically encompass a few different focus areas, which can be broadly categorized into:

Wealth management advisors

Popularized by Hollywood movies and mainstream media, wealth management jobs are a leading entry-level route for individuals seeking jobs within the securities sector. As a wealth manager, your primary responsibilities include acquiring clients, fostering strong client relationships, and assisting with their financial goals through insightful investment advice and insurance sales strategies. Superior client relations skills and meticulous attention to detail are essential, as clients depend on your expertise to manage their wealth successfully.

Professionals in wealth management roles and investment advisor jobs are licensed to execute transactions across a broad spectrum of securities, such as:

• Corporate securities (equity, debt), commonly known as “stocks”
• Government securities (Treasuries, agency), often referred to as “bonds”
• Derivatives (including rights, warrants, options)
• Exchange-traded funds (ETFs)
• Real estate investment trusts (REITs)
• Direct participation programs (DPPs)
• Venture capital funds
• Hedge funds
• Mutual funds
• Variable contracts (such as annuities and life insurance)
• Unit investment trusts (UITs)
• Municipal fund securities (for example, 529 college savings plans)

To begin a career in wealth management or investment advisor jobs and offer comprehensive services, you must obtain your FINRA Series 7 license. This qualification empowers you to initiate transactions on nearly all types of securities for your clients and establish yourself in the dynamic world of wealth management.

Investment advisors

This is the career path for individuals seeking financial advisor jobs where they can guide clients toward a secure financial future. Investment advisor jobs combine elements of both sales and financial planning, requiring professionals to acquire new clients and provide expert advice on managing their investments. These roles can be highly rewarding, as financial advisors have the opportunity to watch their clients’ financial well-being grow and help them achieve important milestones, such as purchasing a home, reducing debt, funding a child’s education, or preparing for retirement.

While investment advisor jobs may appear similar to careers in wealth management, there is a key distinction: wealth management professionals focus on selling financial products and executing transactions, whereas investment advisors specialize in providing tailored financial advice. Many financial advisors choose to become licensed in both areas, allowing them to recommend investment strategies and also execute the necessary transactions for their clients. Professionals who hold licenses in both fields often serve as comprehensive advisors, delivering a full suite of services to meet their clients’ needs.

If you’re interested in exploring financial advisor jobs or pursuing a career in wealth management and financial advising, check out our detailed overview on wealth management and financial advisor careers.

To qualify for most investment advisor jobs, you’ll need to obtain a Series 63, Series 65, or Series 66 license. Visit our post to learn more about these licenses and how they relate to financial advisor job requirements.

Insurance sales

Insurance sales roles share similarities with wealth management jobs, as both career paths center on helping clients secure their financial futures. However, insurance sales professionals focus specifically on offering products designed to protect customers’ assets and provide security for their families. Much like in traditional wealth management jobs, your primary responsibilities in insurance sales will involve acquiring new clients and facilitating their insurance transactions to meet their specific needs.

The insurance industry is vast and includes a variety of sub-industries, such as homeowner’s insurance, car insurance, life insurance, and more. Each segment within insurance sales offers significant opportunities for career growth, and every sub-industry represents a substantial market in its own right.

If you pursue a career at an insurance company, you will need to obtain the appropriate licenses for the types of insurance you sell. Professionals in insurance sales may also choose to earn their FINRA Series 6 license to expand their capabilities beyond standard insurance products and offer investment companies and variable annuities to their clients as part of a comprehensive wealth management strategy.

With a Series 6 license, those working in insurance sales and wealth management jobs can facilitate transactions in the following areas:

• Mutual funds
• Variable contracts, including annuities and life insurance
• Unit investment trusts (UITs)
• Municipal fund securities, such as 529 college savings plans

It’s important to note that these transaction types represent a subset of what is possible with a Series 6 license. If you are evaluating which license is most suitable for your career in insurance sales or wealth management jobs, refer to our detailed guide on the differences between Series 6 and Series 7 licenses.

Beyond insurance sales and traditional wealth management jobs, there are numerous other rewarding career paths within personal finance, such as real estate and estate planning, that similarly empower you to shape your clients’ financial outcomes. In all these roles, you are entrusted with guiding clients toward their financial goals, forging long-lasting relationships based on trust and results. While these professions demand dedication and hard work, the earning potential in both insurance sales and wealth management jobs remains high throughout your career, offering both financial rewards and personal fulfillment.

How to get a job in personal finance

Most employers offering personal finance jobs seek candidates who hold a bachelor’s degree from a four-year university. In the past, these jobs often required a degree specifically in finance, accounting, economics, or business administration. However, as personal finance roles have evolved, employers have become more flexible about academic backgrounds. Many responsibilities related to complex financial analysis in personal finance jobs are now handled by specialized administrative staff, allowing finance professionals to focus more heavily on customer relationships and sales.

As a result, personal finance jobs increasingly attract candidates from a variety of career backgrounds, such as retail sales, technology sales, and customer service. Over the past few years, firms hiring for personal finance jobs have placed greater emphasis on strong interpersonal skills and a proven ability to connect with and assist clients.

Transitioning from retail or another field into personal finance jobs isn’t always straightforward. To secure personal finance jobs today, candidates usually need to demonstrate strong customer service abilities in high-stakes environments and showcase either relevant business experience or a clear passion for the finance industry. Showing your familiarity with industry terminology, regulations, and standards by passing the FINRA SIE exam before applying for jobs can further strengthen your candidacy. This step is highly recommended for anyone applying to entry-level jobs, particularly those without direct experience in finance.

If you do not meet every qualification, don’t get discouraged; there are countless success stories featuring professionals from unrelated industries who forged a new career path. To discover how you can break into personal finance jobs as a recent graduate, someone changing industries, a newcomer, or with no prior experience, take a look at our guide on building a career in finance. Personal finance jobs are more accessible than ever before, even if your background is not directly related to the field.

Corporate finance

Corporate finance jobs are centered on the strategic management of business finances, playing a vital role in the overall success and growth of organizations. These corporate finance jobs are typically more numbers-driven, involving a range of responsibilities such as raising capital, financial forecasting, risk management, company financial reporting, developing financial strategies, investment analysis, business-to-business financial advising, and overseeing mergers and acquisitions. Professionals in corporate finance jobs often enjoy high salaries, opportunities for travel, and significant prestige. However, these roles can also be demanding, with high expectations and long working hours.

Financial analyst

Financial analyst jobs play a crucial role in researching and evaluating the financial health and decision-making processes of companies. Depending on the specific financial analyst position, this work may be focused on internal company operations or involve external clients and stakeholders. The insights provided by financial analysts are essential for management strategies and investment decisions, supporting both company objectives and client portfolios. These roles are highly numbers-driven, demanding strong data analysis capabilities, advanced math skills, and a deep understanding of financial markets.

For those seeking financial analyst jobs at wealth management firms or organizations providing investment guidance, obtaining a FINRA securities license, such as the FINRA Series 87 license, may be a requirement. Many professionals in financial analyst careers pursue advanced credentials like the Chartered Financial Analyst (CFA) designation, which includes three rigorous exam levels, or the Chartered Market Technician (CMT) designation, which is recognized for its challenging curriculum. Earning these certifications can enhance expertise and broaden opportunities within the field of financial analyst jobs.

Investment banker

Investment banker jobs involve assisting clients in raising capital, expanding their businesses, acquiring new companies, and selling existing ones. Professionals in investment banker jobs work with a diverse range of clients, such as large corporations, financial institutions, private equity firms, hedge funds, and occasionally even government entities. These roles are considered among the most lucrative and competitive positions within the finance industry, but are also known for their demanding workload and long hours.

Investment banker jobs can be further categorized into two primary areas: underwriting and mergers and acquisitions (M&A). Underwriting focuses on helping organizations raise funds, most notably through initial public offerings (IPOs), but also via other capital-raising methods. Mergers and acquisitions within investment banker jobs involve advising companies on buying or selling businesses or assets to optimize their strategic growth.

To qualify for most investment banker jobs, candidates must obtain their FINRA Series 79 license before they can interact directly with clients on deals. This regulatory requirement ensures that individuals are equipped to manage complex transactions and maintain industry standards.

Venture capital investor

Venture capital jobs are among the most highly sought-after positions in finance, particularly for professionals passionate about emerging technologies and eager to help startup companies grow into major corporations. Those working in venture capital jobs are responsible for scouting promising startups that could become lucrative investments for their firm, making critical decisions about whether to invest in these companies, and supporting portfolio companies as they scale.

Many venture capital jobs involve close collaboration with startups, helping them strengthen their business models and secure additional funding rounds. While it is not always mandatory for individuals in venture capital jobs to hold a FINRA license, many professionals transition into these roles from backgrounds where they previously obtained such licensing. This experience can be advantageous in the competitive landscape of venture capital jobs.

How to get a job in corporate finance

Like personal finance firms, most employers seeking candidates for corporate finance positions expect at a minimum a bachelor’s degree from a four-year university, with a preference for majors in finance, economics, business administration, mathematics, statistics, or related social sciences. Given the high demand for investment banker jobs and venture capital roles, successful applicants often have attended top universities, maintained impressive GPAs, and actively participated in clubs or societies connected to the corporate finance sector.

To stand out in the crowded market for corporate finance jobs, including sought-after investment banker jobs and venture capital positions, demonstrating genuine interest and initiative in corporate finance is invaluable. For instance, aspiring professionals targeting venture capital jobs can differentiate themselves by preparing independent projects, such as compiling a detailed brochure of ten companies they recommend for investment, meticulously tailored to a specific firm’s focus areas and investment stage. Another effective strategy to boost your prospects for securing roles in corporate finance is leveraging reputable resources to upgrade skills in advance. Platforms like Finance-able, WallStreetOasis, and Investopedia offer specialized courses to prepare applicants for corporate finance jobs, covering topics such as interview techniques, Excel proficiency, and more.

By proactively building relevant experience and mastering practical skills ahead of time, candidates position themselves competitively for top corporate finance jobs, including investment banker and venture capitalist jobs.

Public finance

Public finance, commonly referred to as municipal finance, is dedicated to managing the financial operations of public institutions at all levels of government. Public finance professionals work with states, counties, cities, school districts, and government agencies to ensure effective allocation and oversight of public resources. These roles play a central part in tax collection, distribution, and management of government funds; budget planning and accounting; and financing and developing public projects (often through tax-exempt funding). They also help improve the economic efficiency of critical infrastructure and public services such as schools, transportation networks, road maintenance, water systems, and other community assets.

Unlike personal finance or corporate finance, most public finance careers are based within the public sector, meaning employees typically work directly for government entities. Careers in public finance are well-suited to those passionate about enhancing public services and contributing to the effective management of government finances. Public finance positions can be deeply rewarding, as professionals help the government serve its citizens, although progress can sometimes occur more slowly than in the private sector. Regulatory procedures and requirements for multi-level or voter approvals for certain initiatives are common bottlenecks in this field.

Many jobs in public finance may also require advanced credentials or certifications specific to government-related financial functions, similar to the specialized licenses required in other areas of finance.

How to get a job in public finance

Public finance jobs generally require candidates to hold at least a bachelor’s degree from a four-year university, with preferred majors including finance, accounting, economics, or business administration. For more advanced public finance positions, employers often look for applicants who have completed a master’s degree in a related field. Strong academic credentials are essential in public finance careers, and maintaining a high GPA can significantly improve your prospects. Furthermore, a demonstrated interest in government, public policy, or municipal operations is highly valued, which might involve supporting political campaigns, working in local government administration, or serving as treasurer or finance lead for organizations with a public or civic focus.

Securing an internship within a public finance organization is one of the most effective ways to enter this competitive field. An impactful internship lets you gain relevant experience, showcase your capabilities, and establish key professional connections that are critical when pursuing full-time public finance employment. Volunteering or working for the campaign of an elected official, especially one affiliated with your target organization, can also give you an edge. Not only does this approach provide practical public finance experience in budgeting and fund management, but it also builds strong relationships and networking opportunities within the sector, which can prove invaluable if the official secures office.

What is a FINRA license? And what licenses do you need for different careers in finance?

If you’re aiming for a career in finance, obtaining a FINRA securities license is often a prerequisite. A FINRA license is needed for most roles involving securities trading or investment advising. Below, you’ll find a concise overview of various entry-level FINRA securities licenses and how each one can open specific finance career paths. This breakdown was compiled by Jeremy L. Pardue on WallStreetOasis. We appreciate this resource for its straightforward approach and have permission to share it here:

FINRA SIE: As the foundational FINRA securities license, the SIE (Securities Industry Essentials) exam tests general investment knowledge drawn from material found in other licensing exams. This qualification is the starting point for those looking to begin the process of getting a FINRA license, as sponsorship is not required for this entry-level exam. Learn more about the SIE exam, or try an SIE practice exam for free.

FINRA Series 6: This limited FINRA securities license allows professionals to handle transactions involving mutual funds, variable annuities, and unit investment trusts. It’s an important credential if you want to focus your finance career on these investment products. Explore our Series 6 exam course and free Series 6 practice exam.

FINRA Series 7: Known informally as the “Stock Broker License,” the Series 7 grants holders the ability to engage in a broad range of securities transactions, from stocks and bonds to options and direct participation plans. This comprehensive FINRA license is key to unlocking advanced finance roles. Check out our Series 7 course or try a free Series 7 practice exam.

FINRA Series 9/10: These supervisory licenses mirror the Series 6, granting permission for oversight roles. For those with a Series 7 background, achieving the Series 24, the General Securities Principal license, is equivalent. Take a look at our Series 9 course and free practice exam.

FINRA Series 52: The Series 52 is the municipal underwriting license, essential for professionals working in municipal securities. This credential is administered by the MSRB and was part of the Series 7 until 2008. More on municipal underwriting here.

FINRA Series 57: This license certifies individuals as securities traders, vital for those specializing in trading within financial firms.

FINRA Series 63: Earning your Series 63 allows you to solicit and sell securities within various states, a must-have FINRA license for many finance professionals. Access our Series 63 course and free practice test for preparation.

FINRA Series 65: With this investment advisor license, you can offer investment advice for compensation, a critical step for becoming an investment advisor representative. Find our Series 65 course and free practice exam here.

FINRA Series 66: The Series 66 combines elements of both the Series 63 and Series 65, serving as an all-in-one solution for dual registration roles in investment advice and securities sales. Get details on our Series 66 course and free practice assessment.

FINRA Series 79: This investment banking representative license is required for professionals advising on mergers and acquisitions, public and private offerings, tender offers, and similar transactions in investment banking.

FINRA Series 86/87: Designed for research analysts, these FINRA licenses (Series 86 as Part I and Series 87 as Part II) set qualification standards for securities research analysis roles. CMT and CFA charterholders may be exempt from the Series 86, but they still need to complete the Series 87.

For more details, review our complete list of all FINRA, NASAA, MSRB, and NFA licenses. Note that all securities licensing exams generally require firm sponsorship and are administered by FINRA unless otherwise specified.

Achieving the right FINRA securities license is a major milestone on any finance career path. Learning how to get a FINRA license begins with understanding your desired role and preparing for the specific exams that unlock your professional goals.

Conclusion

Finance careers offer lucrative opportunities, meaningful impact, and a wide range of career paths, from investment banker jobs to roles in asset management and financial analysis. While breaking into the industry can be highly competitive and sometimes stressful, the rewards often outweigh the challenges for most professionals.

As you enter the field, always demonstrate professionalism, strong interpersonal skills, numerical aptitude, and meticulous attention to detail. Before applying to positions within the finance sector, be sure to research different finance career paths and understand the requirements for each. If a SIE credential is required for your target position, prepare for and pass the FINRA SIE exam ahead of time. This proactive step can give you a distinct advantage and set you apart from other candidates as you launch your finance career and prepare for additional licenses.