Working in the financial industry can be an appealing prospect, especially if you like working with numbers and money. Yearly pay is usually pretty decent, and the skills you use are ones that can be applied to managing your personal finances as well. One common misconception is that you need to have an advanced degree in order to get a good career in the finance industry. That's not necessarily the case. There are some careers in finance that don't require you to have an advanced degree.
Bookkeepers are primarily responsible for maintaining business expense records. This includes duties such as managing accounts payable and receivable, checking financial records for accuracy, and preparing financial reports. To become a bookkeeper, you need a minimum of a highschool diploma or a GED. A bachelor's degree is a good idea as well, specifically one focusing on finance. Many employers offer on-the-job training, which is great if you don't have any experience. If you want to get a competitive edge without getting an advanced degree, consider becoming a certified bookkeeper through the American Institute of Professional Bookkeepers. According to Pilot, income varies from state to state, but the average income for a bookkeeper is around $20 per hour.
Mortgage Loan Officer
Mortgage loan officers are responsible for helping prospective homeowners find the mortgage that is right for them. To become a mortgage loan officer, you don't need to have a bachelor's degree, but it will help if you do. You will be required to get a mortgage loan originator license, regardless of what state you live in. Before you get your license, you'll have to complete pre-license education. According to MEC, all states require a minimum 20 hours of pre-license education before additional state hours. After completing the education requirements, you'll have to pass the SAFE MLO test and pay the state fees. You'll also need to obtain a state-approved sponsor and an NMLS Unique Identifier. The average MLO salary as of 2018 was $63,040 per year.
Tax accountants can serve anyone who needs help with taxes, which means pretty much everyone from individuals to big corporations. Their responsibilities include things like preparing and filing taxes, as well as advising on tax liability. You'll need a minimum of a bachelor's degree in accounting to be a tax accountant. Upon completing your degree, you can apply to become a CPA. There is additional coursework that may be required to become a CPA, but it's different from pursuing a master's or other advanced degree. Finally, you'll need to take and pass the CPA exam. According to the Accounting Institute of Success, the average CPA salary is $62,410 per year, but can change depending on factors such as experience, where you live, and what your specialty is.
The finance industry is full of lucrative careers. One of the great things about it is that although advanced degrees can be beneficial, landing you better jobs and higher pay, they aren't necessarily a requirement for success in the industry. You can make a successful career for yourself as a bookkeeper, mortgage loan officer, or a tax accountant. If you have a head for numbers and the drive to succeed, you can make it in the finance industry.
Read this next: How to Grow in Your Career During the COVID-19 Pandemic
The current coronavirus pandemic had brought much uncertainty upon the world. Many people are scared to think about the future, much less growing their careers right now. However, due to the free time quarantine has given most people around the world, now is actually the perfect time to grow your career. Here are three things you can do to do just that.
Start a Business
One of the things you can do is start a business, especially if your business does work online. You could start a blog, or a YouTube channel. You could offer discounts to handmade products and ship your product straight from your home. You can offer online classes, consultations for your field, among many other ideas. There is a demand for innovation and creativity right now, and your business can help fulfill that demand.
Go to School Online
nother thing you can do is go back to school online. Online schooling has many benefits during COVID-19 when many people have freer time than normal. While schools are not open for classes in person, online courses are booming. Of course, there are some bugs and problems with online school. Some online courses are known to have formatting issues. It can be a hassle to juggle family and school at the same time, especially if you’re in the same space and your children also need to do school online. But there are many benefits to online school. It’s typically cheaper than in-person tuition, it’s flexible, and there are numerous options for you to choose from to be your emphasis of study. If you’re seeking the need for a challenge, online school might just be the option for you.
Work on Back-Burner Projects
Another thing that you can do to further your career is work on projects that you haven’t had the chance to work on because of your busy schedule. These are the projects you’ve put on the back-burner to do when you have the time. Now is the perfect time to work on these projects. You can build your portfolio by working on your graphic design projects. You can work on coding projects that you keep putting off. All those projects can help you build skills to further your career.
While coronavirus has changed the face of the economy and the world as we know it, you can use this time to further your career.
Read this next: What Are the Most Dangerous Industries During the Coronavirus Pandemic?
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