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Overview of Finance
Finance is a tough but rewarding industry for people who like working with numbers in a fast-paced environment.
Jobs in finance include stockbroker or finance dealer, finance manager and financial planner. |
Studying Finance
If you want to be a stockbroker or finance dealer, study an undergraduate business, commerce, economics or finance course. While you’re studying at a recognised tertiary institution, you are eligible to join the Financial Services Institute of Australasia (FINSIA).
You also need an “authority to trade”, issued by an ASIC-licensed stockbroking firm.
A finance course teaches you how to analyse the economy. By the end, you should have the skills to work in financial planning, risk management, macro/microeconomics, investment law and quantitative analysis.
To become a financial planner, you will need a Diploma of Financial Services (Financial Planning) for the ASIC RG146 compliance. The diploma covers investment evaluation, insurance policies and retirement planning.
Careers in Finance
Graduates of economics and finance degrees can work in stockbroking, financial planning, banking, insurance, superannuation and funds management.
Financial planners analyse finances of individuals and companies to formulate an investment plan for them. They can specialise in tax, ethical investing and mortgages.
Stockbrokers buy and sell shares on behalf of clients. They work long but regular hours corresponding to trade market hours. Employment in this area is expected to grow moderately to 2015, according to the Department of Education, Employment and Workplace Relations (DEEWR).
A finance manager is a kind of accountant who prepares reports about a business' financial position and prepares strategic plans and budgets.
DEEWR statistics show that people who work in finance can earn $1200-1400 each week, but employees of smaller stockbroking firms may not have a salaried income if they are paid on commission.
Skills needed in Finance
In general, people in finance should enjoy keeping up with financial news and have a firm understanding of maths and economics.
More information
Accounting & Finance
Accounting
Actuarial
Insurance