Positions
Individuals with a background in finance can work in different positions depending on their career expectations and goals. To begin with, such persons can work as lecturers. Qualified lectures can focus on financial subjects in colleges, universities, and high schools (Brigham & Ehrhardt, 2014). The other position is that of an accountant. The accountants will use their skills to prepare, monitor, examine, and audit different financial records. They can also work as financial analysts to provide appropriate guidance to different corporations and entrepreneurs.
The other position is that of a financial manager. Such a manager will monitor and support the financial health of the targeted company. They can also become insurance underwriters (Financial Managers, 2016). This position will make it easier for the individuals “to evaluate insurance premiums, applications, and coverage amounts” (Financial Managers, 2016, para. 5). Other positions available for such professionals include financial controllers, financial analysts, and principal accountants.
Occupations
Budget Analysts
These professionals help different institutions organize and monitor their financial aspects. They also prepare appropriate budgets and monitor the financial expenditures of their companies. Such insights make it easier for business organizations to manage their financials and invest wisely (Financial Managers, 2016). The inputs of budget analysts support the business objectives of many organizations.
Auditors
Individuals with a background in finance can work as auditors. The role of auditors is to examine and prepare financial documents for different companies. They also ensure different companies maintain accurate financial documents. Issues of taxes should also be monitored by auditors (Brigham & Ehrhardt, 2014). The role of auditors makes it easier for corporations to operate effectively.
Loan Officers
These experts possess appropriate skills to evaluate and approve loan applications for applicants. Such loan applicants might include entrepreneurs, private investors, and business organizations. They “decide or recommend approval for different loan applications” (Financial Managers, 2016, para. 7).
Entry-Level Education
The above three occupations require individuals who have a bachelor’s degree in finance. The individuals can also pursue a master’s degree. This new academic level will make it easier for the financial experts to deliver quality services to their organizations (Brigham & Ehrhardt, 2014). These educational requirements are critical towards ensuring such workers deliver quality results.
Median Pay in 2010
The median pay for individuals with a background in finance has continued to increase within the past five years. In 2010, the median annual pay for a budget analyst was $60,100. However, the pay for a budget analyst in 2015 was 71,590 US dollars (Financial Managers, 2016). The median pay for auditors in 2010 was around 59,200 dollars (Brigham & Ehrhardt, 2014). This amount has increased to over 67,000 US dollars (Financial Managers, 2016). The median salary for individuals working as loan officers in 2010 was $55,120 (Financial Managers, 2016).
Salary Range for Individuals with a Background in Mathematics
People with a background in mathematics can work in different settings and organizations. They can also complete a wide range of tasks thus making it easier for them to get new jobs. The salary range of such professionals will be determined by several factors such as their educational levels and specialties (Occupations Utilizing Strong Mathematical Backgrounds, 2016).
As well, the type of occupation will dictate the salary earned by every professional. The annual salary range of such individuals is therefore between 45,000 and 115,000 US dollars (Brigham & Ehrhardt, 2014). Experts also believe that the salaries of these professionals will increase significantly in the coming years.
Reference List
Brigham, E., & Ehrhardt, M. (2014). Financial Management: Theory and Practice. Mason, OH: Cengage Learning.
Financial Managers. (2016). Web.
Occupations Utilizing Strong Mathematical Backgrounds. (2016). Web.