Over the past five years, Australia’s finance industry has undergone dramatic changes which have presented unique opportunities for those seeking a career in finance.
The national focus on FinTech (financial technology) and the implementation of superannuation means this robust sector is fast evolving and being catapulted into a new, exciting era.
According to the Australian Treasury, “Australia’s financial services sector is the largest contributor to the national economy, contributing around $140 billion to GDP over the last year. It has been a major driver of economic growth - and with 450,000 people employed, will continue to be a core sector of Australia’s economy into the future.”
The dependence on and adaptability of the country’s finance industry means it’s the ideal time to pursue a position within this lucrative field. But what specific benefits can financial professionals expect?
Here are five reasons to enter a career in finance today.
1. A career in finance is dynamic
As mentioned above, the onset of the digital era has changed – and continues to change the landscape of the finance industry.
The rapid speed of technological advances across all platforms in addition to the shifting client expectations will have dramatic implications for the ways in which financial services are structured, delivered and consumed, according to the Australian Treasury.
It is the perfect time to become part of a shifting industry and join the exciting (and ever-stimulating!) financial revolution.
2. A career in finance will challenge you
Though Australia has a relatively strong economy and is a prime location to the world’s fastest-growing regions, the financial services industry also faces its fair share of challenges.
The industry must now strive to rebuild itself after the financial crisis, which according to the 19th Annual Global CEO Survey 2016 requires finance professionals to tackle issues such as, "re-engaging customers, increasing profitability and identifying opportunities for growth in Australia and globally.”
A career in finance will help refine your strengths, increase your adaptability, bolster your work ethic and ensure you’re constantly stimulated. You’ll grow as a person and a professional, reaping the benefits immediately and throughout your future career path.
3. A career in finance will improve your interpersonal skills
At its core, the finance industry relies on customer satisfaction. This new technological phase has changed the customer service model across the board, and financial professionals must rise to meet client expectations now more than ever.
Interpersonal skills are essential in the finance field, and play a critical role in day-to-day life, whether or not your position is directly customer-facing.
Employees who interact with clients at any level should prioritise creating positive experiences, while even those in the background will need to rely on efficient interactions between colleagues to excel.
4. A career in finance brings opportunities for career growth
In a sense, the finance industry makes the world go round. Austrade reports that the current financial landscape is expanding, and this period of vital innovation means roles are consistently developing, therefore creating more opportunities to find a position that best uses your strengths and interests.
Skilled financial employees are essential during this progressive time, so those seeking a job in the sector will be valued more than ever. If you’re searching for a fruitful career with plenty of job options, look no further than finance.
5. A career in finance can take you anywhere
The need for financial professionals is worldwide. Though there are plenty of roles within Australia, there are also a plethora of overseas positions for those seeking an even broader experience.
In fact according to Talent Mobility: 2020 and beyond by PwC, by 2020 the average number of international assignment locations is expected to increase to a whopping 33 per multinational.
Whether you’re in the mood for a new adventure, want to amplify your CV or your career needs a change of pace, working overseas could be the ideal option for you –and your career in finance can easily take you there.
If you’re interested in finance jobs, get the industry-specific skills you need to launch your career with one of Open Colleges nationally recognised, accredited courses and pathways.
If you’re looking for more career advice specific to the finance industry, read more expertise from leading accounting recruiters here.
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