Working in Finance in Australia

Over the past decade, the finance industry of Australia has experienced rapid growth and changes.
Working in the finance and insurance sector of Australia is now more challenging and financially rewarding as a result of new regulations and improved labour practices. There are now more opportunities in Australia’s finance sector than ever before including the booming sector of novated leasing and salary packaging. The demand for finance jobs in Australia is growing rapidly. In 2007, almost 400,000 people are employed in the finance and insurance services sector. Nearly one-fourth of companies with recruitment difficulties were interested in hiring more finance and accounting graduates. The roles of car finance professionals are to ensure that companies are profitable and in good financial health.
Career paths in finance include banking, corporate finance,chattel mortgages, insurance broking(such as motorcycle insurance), stock broking, credit , auditing, investment management, and taxation management.

Educational Requirements

To embark on a rewarding profession in finance, one must first acquire the necessary university or college education. Degrees usually required for a job in the finance sector are Economics, Accounting, Finance, Business, Commerce, and Actuarial. In order to be employed in a chartered firm, one must take up a CA or CPA qualification after starting work, preferably within the first year of employment.
Although a basic undergraduate degree is enough to land a lucrative job in the finance industry, many employers are looking for postgraduate qualifications. One should strive to gain further education by taking up a Master’s degree within the first five years after commencing work whioch will help you to compare home loans.

Benefits and Privileges in the Finance Profession

The foremost benefit of working in the finance industry is, obviously, the salary, which can reach six figures depending on the position. Entry-level positions in banking and accounting can expect salaries between $35,000 and $50,000. Finance managers usually earn between $45,000 and $75,000. Finance directors can earn as much as $100,000 or more. Another benefit you can get from working in the finance profession is the opportunity to work abroad. CA and CPA qualifications are recognised globally and many big financial companies offer attractive international opportunities to successful employees, which include short-term and long-term secondments and overseas transfers. The finance profession offers a vast range of benefits and opportunities. However, be prepared to spend long hours at work especially during the end of the financial year. Working in finance in Australia can be financially rewarding and offers many opportunities for career advancement. If you have a knack for numbers and a great deal of passion and interest in business, a career in finance might be the best profession for you.