Money Management Career Options
People who are good with numbers, have an eye for detail, and like to work in an office setting might want to consider careers in finance, where you get to manage or invest the money of others. Individuals and corporations often need help making or reviewing a budget, estimating expenses, or investing in stocks and bonds. If finance sounds like an exciting or profitable career path to you, read on to explore some of the best money management careers.
|Job Title||Median Salary (2018)*||Job Outlook (2018-2018)*|
|Personal Finance Advisors||$88,890||7%|
|Portfolio Managers||$85,692**||16% (for all financial managers)|
Sources: *U.S. Bureau of Labor Statistics; **PayScale.com (2019 salary)
Career Information for Money Management Jobs
Personal Finance Advisors
Personal finance advisors help individuals and families manage their money and plan for goals like buying a house, retirement, or helping their children afford a college education. They may research or advise their clients on the best investment opportunities or purchase stocks and bonds on their clients' behalf. A bachelor's degree is the entry-level requirement to become a personal finance advisor. License or registration is required if buying or selling stocks, insurance policies or bonds.
Cost estimators help a company manage money by looking at the expenses needed to build or design a product and finding ways to reduce the costs to maximize the return on investment. They look at factors such as rain delays in construction and the cost of materials when deciding to go ahead with a project. They also maintain and manage records of money spent. Cost estimators typically have a bachelor's degree in an industry-related field, such as construction management or engineering.
Accountants maintain financial documents for individuals and companies and sometimes manage funds such as payroll taxes, outgoing expenses, and other bookkeeping items. They help to prepare tax documents and may counsel organizations on how to improve their financial efficiency. The entry-level educational level for accountants is a bachelor's degree; however, a C.P.A. position requires a master's degree and licensure.
Budget analysts help monitor and curtail institutional spending and prepare alternatives to traditional spending when necessary. Annually, they review budget proposals and help plan the next year's spending and any future financial needs. They may make cuts or move spending into other needed areas. Budget analysts need to have at least a bachelor's degree, though some organizations require a master's degree. College classes in accounting or statistics are usually considered necessary to getting into the field.
Portfolio managers make investment decisions on behalf of businesses and individuals and need to be sure that the investments perform well in the financial market. These managers may oversee a bundle of investments or individual plans like pensions. Depending on the client's needs, they may make adjustments to the investment plan to maintain the client's financial goal. Portfolio managers need a bachelor's degree in any area related to the finance field, such as accounting or economics. Many employers require a master's degree in business administration for advancement.