Some possible jobs within this career area are:
The career you want will dictate the degree you need. Depending on your choice, you might need a graduate degree in business or you could advance your career with a career specific certification. Common degrees available to business majors include:
- Associate’s Degree
- Bachelor’s Degree
- Master’s Degree
- PhD
- Career-Specific Certifications
The expansion of the global economy and the importance that our national economy plays in our daily lives has a direct impact on the future of business majors. There are dozens of business-related fields, and many of them are in constant need of skilled and trained workers. Many of these fields place a high importance on returning to school and getting extra training.
You could complete a routine certification a year, or get your Bachelor’s Degree in four years. MBA programs or other international business programs can take an additional three years.
How to Become a Financial Advisor
If you’re talented in managing money and want to help others build their financial futures, then a financial advising career or financial planning career may be for you.
The first step in becoming a financial advisor is to earn your bachelor’s degree in business, finance or accounting. Some successful financial advisors also think those with a psychology degree are great in the financial advising profession since it takes a lot of hand-holding and understanding to succeed in the business. Additionally, an MBA is helpful if you want to pursue a financial advising career or financial planning career.
Like many positions, holding an internship while still in school and developing a network to find a job after graduation is key. Interestingly, in a study by the Financial Planning Association, 88% of financial planners and advisors reported that they worked in a different profession before going into financial planning. So a job at one of the major financial or accounting firms isn’t always the road to becoming a financial advisor.
When you first start out as a financial advisor, you’ll need to immediately activate your networks – the firm you work for may assign you clients, but they’ll also expect you to begin bringing in your own business. This means cold calling prospects, joining community groups, and reconnecting with old college friends.
Additionally, as a financial advisor or financial planner, you’ll spend much of your time being an educator to your clients. The best advisors present options to their clients and explain how those options will benefit clients and meet their needs, rather than simply selling an investment or insurance product.
The U.S. Bureau of Labor Statistics estimates that the mean average salary for a financial advisor is $94,180. Of course, the longer you’ve been in the business, the more opportunities you have to increase your earnings. (Salary data retrieved 3/29/11)
At some point in your financial planning career, you may want to earn your Certified Financial Planner (CFP) designation. To qualify, you must have at least three years of experience working for a financial planning business.
Working in a financial advisor career or financial planner career, you can help change people’s lives. To get the education you need to become a financial advisor, find a degree program now!