The financial industry covers many different areas, but basically, it generally means dealing with money, either saving it, spending it, or managing it so it makes more. Many people will be upset if their property is somehow damaged, but if you mess up their finances, they will never forgive you. Whether the money you are dealing with relates to a business or an individual, you need to understand exactly what you are doing. If you are thinking of making your way in the financial world, finance training courses are a must.
Careers In The World Of Finance
The career paths you can follow in finance are very varied, some needing years of training and others just a short course. There are some careers where no training at all is legally required, such as accountants and bookkeepers. Training to be a Chartered Accountant or a Certified Bookkeeper can take several years of hard work and study, but anyone can set up in the UK and offer their services as an accountant with no formal training at all. In fact, it is estimated that there are more unqualified people operating as accountants than there are qualified ones working in practice. However, would you trust someone with your accounts who had not done any special finance training courses at all?
Financial analysis, financial management, investment banking, payroll, credit control, and project finance are just a very few examples of other careers in the financial world. If you have completed the appropriate finance training courses for your chosen career, you are more likely to be able to progress your way into a higher position in the world of finance.
Testing The Waters
If you are unsure exactly what finance role you want, taking some of the shorter finance training courses can be a brilliant way to get an insight into what a particular job involves. The timescale and locations of courses can vary, so it can be difficult to know where to start, but you can find a range of finance courses online here, which will help you to decide on the finance training courses to take a closer look at.
Working in finance can be a fulfilling and well-paid career if you understand what you are doing and are able to complete the job in hand with confidence. Even experienced people can benefit from some finance training courses, as they will be updated on changes in criteria, and can learn new skills.
Working In Personal Finance
If you decide that it is personal finance you want to be involved in, it could be in the banking sector, or perhaps as a mortgage advisor. Helping people to buy their dream home can be very satisfying, and they would rely on you to ensure they get the best deal available for their mortgage. Advising on mortgages, pensions, or any other personal finance issues can only be your job if you have completed the right finance training courses, and your qualification has to be recognised by the Financial Conduct Authority.
Often, the products associated with mortgages and pensions are sold by banks, building societies, and sometimes insurance companies. Often, there are training opportunities within them, with the advantage of gaining experience while you are studying. There are always promotion prospects within these huge organisations and apart from being good at the job to be considered for a move up the ladder, you need the appropriate accreditation.
Working In Business Finance
Finance in the business world is totally different to personal finance. You could find yourself managing mega amounts of money if you become a finance manager or work in investment banking, for instance, or you may decide that you would rather be involved in raising funds for businesses. Even banking is totally different when you are working with the commercial side of things, which is why banks have specialist commercial managers to deal with their business customers.
With the right qualifications, the salaries in the financial sector are good and the hours are long, but you could be working in a vibrant and lively atmosphere, such as at an investment bank, or even on the stock exchange.
Why Is The UK Good For Those Working In Finance?
The financial services sector in the UK already employs more than one million people, and there is still a demand for more to join the industry. A large part of the sector is located in London, as its geographical situation between New York in the west and Asia in the east has resulted in it becoming an important trade and financial service centre.
Considered to be one of the best locations in Europe for financial services businesses, many of the large international banks and brokerages have a presence in London. The city has a lot of resources and talent in quite a small area and is poised to remain at the top of global finance tree for many years to come.
Although London may be at the centre of the financial sector in the UK, it is thriving all over the country and is continuing to grow at a very healthy rate. After the crash of 2008, many financial institutions had to cut back on their staff and other overheads, but most of them have since recovered, and now employ more workers than they did before.
As well as the qualified people they employ, there are also an untold number of jobs for support staff, working in the administration departments of multinational banks, insurance companies and brokers.
The Effect Of Cryptocurrencies On The Financial World
It is not so much the cryptocurrencies that have had an effect on the financial world, but the technology they use, which is known as blockchain. Blockchain allows peer-to-peer transactions securely and quickly and this has tempted many of the major financial institutions to test it. The idea is that no longer will you have to wait days for a payment from the UK, for instance, to reach a bank in Spain. It can leave one bank and be received by the other almost instantly. This will make banking transactions less costly and more efficient, and hopefully, the cost savings will be passed on to the customers.
Blockchain can create shared digital databases of entries on its ledgers that cannot be changed and are far more secure than traditional transactions, so are less likely to be hacked.
Some parts of the financial services sector are investing in blockchain more heavily than others, but at the end of the day, it will be the reason for many changes in lots of ways in various aspects of our lives, finances being just one of them.
Tailored To Suit You
It seems that the ever-evolving world of finance is a good place to be employed or to run your own business. You may have considered the finance training courses on offer and not been able to find one that suits your requirements. That is not a problem, as experts can help you to identify the objectives you should be focussing on, and tailor a course to suit you.
There are not many industries where bespoke courses are possible, and this is another reason why working in finance is the UK is a good choice.
Founder Dinis Guarda
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