A career in finance is an attractive goal for many students. The career prospects are good and the salary is often excellent. However, there are a few things to consider before embarking on the path.
Finance careers: Entry-level opportunities after graduation
The first thing to consider is which focus you want to pursue during your studies. Best masters programs in finance offer the opportunity to specialize in a particular field. This could be accounting, taxation, or banking, for example. Depending on which specialization one chooses, one can later work in different areas of the finance industry.
Furthermore, one should consider in which type of company one would like to work later. There are large international corporations, small and medium-sized companies, and public institutions. Each of these types of organizations has its own characteristics and therefore requires different skills from its employees.
Big Four or investment bank? Differences and similarities
After graduating with a master’s degree in finance, many graduates have to decide which employer is right for them. The Big Four (Deloitte, EY, KPMG and PwC) are the world’s leading accounting and consulting firms. Investment banks such as Goldman Sachs, JP Morgan or Deutsche Bank, on the other hand, are leaders in the value chain of the financial industry and mediate between buyers and sellers of financial products.
The Big Four are auditing and consulting firms. They offer auditing, tax, financial advisory and consulting services. The Big Four are subject to strict statutory regulations and are therefore severely restricted in their activities. Investment banks, on the other hand, are not regulated and can therefore operate much more flexibly.
The Big Four operate worldwide and accordingly have a large network of international clients. Investment banks, on the other hand, are usually specialized in a specific market or region.
These companies focus their activities on auditing and advising companies. Investment banks, on the other hand, concentrate on brokering financial products such as bonds, shares or derivatives.
The salary of employees working for the Big Four is above average, but not as high as in investment banks. Working hours at those important companies are relatively flexible, but employees usually have to work overtime on a regular basis. In investment banks, on the other hand, working hours are much more strictly regulated and employees regularly have to work more than 60 hours per week.
Graduates of a master’s program in finance can accordingly work at both the Big Four and investment banks. Which employer is the right one depends primarily on personal interest. Those who want to advise and audit are in the right place at the Big Four. If, on the other hand, you prefer to trade and mediate, an investment bank is the right place for you.
esthermm – stock.adobe.com // rh2010 – stock.adobe.com