What is finance training?
An associate’s degree in finance may provide a vital understanding of the economy, as well as financial and credit analysis and advisement knowledge. Those who seek financial training may learn the fundamentals of insurance, banking, credit and business statistics. Students can learn how to budget their personal funds, in addition to studying how corporate finance works.
What kinds of jobs are available for those with finance training?
Finance associate’s degrees can prepare graduates for careers as tax examiners, credit analysts, loan officers or investment advisors. Many of these careers also require relevant experience, according to the Bureau of Labor Statistics Occupational Outlook Handbook 2010-2011. Positions can be found in private businesses, international corporations and state and federal agencies, such as the Internal Revenue Service (IRS). An entry-level revenue agent may audit small business returns, and a private tax examiner analyzes and helps individuals prepare their tax forms.
What are the requirements to become a tax examiner or financial advisor?
As one of the primary fields open to those with associate’s-level finance training, tax examiners must also have experience in the field, as well as expertise with tax records, laws, regulations, documents and related records. Additionally, those who apply for work with the IRS must undergo a background check, as a high level of trust is required for this position due to the confidential and sensitive information handled, according to the BLS. Outside of government work, experienced tax examiners can take an exam to become enrolled agents, non-federal professionals authorized to represent taxpayers to the IRS.
Financial advisors must have a strong understanding of economics, math, investment, taxes, estate planning, risk management, accounting and law. These professionals also have to be licensed in order to sell stocks, bonds, insurance or specific advice. Some can go on to become private bankers as well.
What is the average salary for someone with finance training?
According to the BLS Occupational Employment Statistics, tax examiners made an average of $54,830 annually in 2010. Credit analysts made $26,880 and investment advisors made about $62,700, depending on their clients. Salaries for associate’s degree holders in finance differ greatly depending on location, whether they are employed by a private firm or federal agency and their experience level.
What do career prospects for those with finance training look like?
Tax examiner jobs are expected to increase faster than most careers from 2008 to 2018, according to the BLS. Approximately 13 percent more positions are expected to open, with the most competition for jobs with the IRS. Overall, about 9,500 jobs are expected to open by 2018.
Loan officer positions are expected to increase by 10 percent by 2018, with about 33,000 positions opening up. The best opportunities should be in commercial loan lending, as banks are struggling to fill these positions, according to the BLS. Other jobs that require an associate’s degree in finance, such as investment advisor and credit analyst, look promising as well, with increasing employment opportunities predicted in both fields.
What are the benefits of completing finance training?
Finance training can not only prepare a student for a career in banking, investment, tax preparation or credit analysis, but also help them better budget their own finances. Those interested in these training opportunities can learn how to analyze financial reports, write business plans and better understand how the economy and financial systems work. Additionally, many jobs in finance come with benefits, paid vacation and sick time and retirement savings plans.
*Source Reference: U.S. Bureau of Labor Statistics. http://www.bls.gov