Is the finance field stable?

Lynn Hollars: Finance is a really broad term. I have my degree in Finance and have found it to be a great field; however, when you first graduate college you are going to pretty much start at rock bottom and with people who have no degrees. The majority of entry positions will be sales in nature or clerical. You have to kind of decide on your own niche. People with finance degrees are usually promoted in investments, insurance, banking or corporate finance. Investments is the one with the highest pay level but also the highest stress, insurance is becoming the second of the highest paid as it is very investment and risk oriented and more and more people have multiple policies. I fell into banking and lending and have loved it for 20 years. Corporate finance is probably the least stable since it is only one division of a company, is a non-revenue generating and a major company can work with a relatively small finance Dept so you are more likely to get laid off and n! ot get big bonuses and pay.Contrary to what has happened with Wall St and what you hear, it is actually very stable. Most of the people who were laid off were quickly scooped up if they had a decent track record and experience. Yes, many took new jobs that weren't as high earning but that is the nature of working in that type of field. The one thing you should know about finance and accounting are they will always be needed. People don't realize how many small and large companies go under every year despite having a great product or service because of financial mismanagement. It is not something everyone can understand or stomach because you have got to make money instead of people based decisions and that doesn't always make you popular. It is also a field rife with con-men, ruthless ladder climbers and fraud so you have to steer around the temptation to become one of them but still recognize that money is the bottom line without losing your people skills.If you can g! et through a good school's undergrad and/or grad program you w! ill be marketable. Things constantly change so you are in a lot of continuing education but you can almost always re-invent yourself (most of the people now screaming about risk and fraud are the ones who 10 years ago were perpetrating the fraud) into what the market wants....Show more

Monica Voltin: Best Answer: Finance is a really broad term. I have my degree in Finance and have found it to be a great field; however, when you first graduate college you are going to pretty much start at rock bottom and with people who have no degrees. The majority of entry positions will be sales in nature or clerical. You have to kind of decide on your own niche. People with finance degrees are usually promoted in investments, insurance, banking or corporate finance. Investments is the one with the highest pay level but also the highest stress, insurance is becoming the second of the highest paid as it is very investment and risk oriented and more and more people have multiple pol! icies. I fell into banking and lending and have loved it for 20 years. Corporate finance is probably the least stable since it is only one division of a company, is a non-revenue generating and a major company can work with a relatively small finance Dept so you are more likely to get laid off and not get big bonuses and pay....Show more

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