Choosing where to start your career can be a daunting decision.
Many students are undecided about their degree choice and unsure about the potential career paths that lie ahead. During your short time as an undergraduate student, it’s important to understand how you can make the most of your time and choose a course of study that will support the career and lifestyle that you desire.
By making a thoughtful decision about your course of study, doing some research, and testing the field with some internships, you can help set yourself up for a successful life.
Let’s start with the first step: choosing your course of study.
One undergraduate degree that is quite versatile and sought after by employers in recent years is the Bachelor in Finance. Especially if you’re looking to live and work in the UK, this degree opens up many opportunities.
Here we will lay out some possible career paths that a Finance graduate can pursue in the UK
Career Paths in Finance
- Actuaries assess the likelihood of certain situations happening by using statistical and financial theories. They also determine the potential financial costs if these events should occur.
- As an actuary, you could work on projects such as analysing pension scheme liabilities to determine prices for commercial insurance or make calculations about accident rates for groups of people.
- There are different types of accountants, and many of these roles can work in a range of organisations among public sectors, not-for-profit, public practice, industry, and commerce.
- The accountant’s aim is to maximise profitability for your client or employer. This means you’ll give advice, audit accounts, create financial reports, and provide trustworthy information about financial records.
- Some accountants are also responsible for developing and maintaining companies’ financial systems, auditing records, forecasting future finances, or investigating anomalies.
- External Auditor
- An external auditor examines financial records to determine how well a business is performing, as well as makes recommendations for improvements in the future.
- This is one step further than what an accountant does because the auditor will also help clients to identify and manage risks across multiple areas of their business.
- Stockbrokers buy and sell stocks on behalf of their clients, which include private or commercial clients. In return, they earn a fee or commission.
- As a stockbroker, you will manage clients’ investments, acting as the link between your clients and the stock exchange.
- Management Consultant
- If you enjoy problem-solving and you are motivated to help organisations to operate better, then management consulting could be a path for you.
- Management consultants help organisations to maximise growth, solve issues, and improve business performance. They use their business skills to provide objective advice and expertise, and help a company to develop any skills that it may be lacking.
- You will suggest changes to the organisation and offer advice for implementing solutions.
- Retail Banker
- Retail bankers help people to manage their money, offer advice, and provide financial services and products.
- As a retail banker, you can help people to move their money, authorise loans, or arrange bonds and savings accounts. You’ll mostly work with individuals, but some banks also offer business banking.
- You could also have retail manager responsibilities in your bank branch, including the strategic management of your branch, managing a team of staff, increasing the sales of financial services, and attracting new customers.
- Investment Banker
- If you have strong analytical and problem-solving skills, these can be put to good use as an Investment Banker.
- Investment bankers use their knowledge of corporate financial opportunities to advise companies in making investment decisions, including company acquisitions and mergers, company buyouts, bonds and share issuing, lending, and privatisation of businesses.
- Investment bankers can also specialise in the fields like equity capital markets, corporate finance, and debt capital markets.
- Insurance broker
- An insurance broker is a middle link between clients (private individuals or commercial businesses) and insurance companies.
- This role involves understanding the risks faced by clients, and identifying insurance policies that provide the appropriate amount of coverage. Many accounting and finance graduates are suited for this type of role.
- If you have considered an entrepreneurial path, having a strong background and in-depth knowledge of finance will be essential for the success of your business.
What should you do next?
If you have decided to pursue a career in Finance in the UK, great! Making this decision can sometimes be the most difficult step.
The next step is to select a university to pursue your degree. Check out other posts on our blog that highlight some of the strongest international business and finance programs for you to explore.
Once you’ve been admitted to and committed to a university, we recommend securing your lodging in your new city. We recommend checking out AmberStudent to find student housing in the UK. They’ll help you to find your home away from home.
And finally, pack your things and prepare yourself for the adventure of a lifetime: You’re going to university!