Career Facts for the Best Jobs on Wall Street

Career Facts for the Best Jobs on Wall StreetCareer Facts for the Best Jobs on Wall StreetThe best Wall Street jobs arent necessarily on New York Citys Wall Street or even in New York for that matter. The thoroughfare in lower Manhattan is synonymous with the financial industry, but you can find employment in this industry all around the world. If you are looking for a career where the potential to earn a lot of money is high, youve come to the right place. However, ifstability is a priority, this isnt the industry for you. Wall Street jobs are not recession-proof. A struggling economy will negatively impact the financial industry. Unless you are willing to work a lot of overtime, you shouldnt consider a job in this field either. Many other occupations allow you to spend more time away from the office. What Education and Certifications Do Wall Street Jobs Require? To get a Wall Street job, you will have to get at least a Bachelors Degree in a business-related major. Going to busi ness school to earn a Masters in Business Administration (MBA) should be your next step as it will open up many more opportunities and allow you to advance in your career. In addition to a degree, many employers also require, or at least prefer, applicants who have earnedcertification. Among those certifications are CFA (Certified Financial Analyst), CFS (Certified Fund Specialist), CIC (Chartered Investment Counselor), CIMA (Certified Investment Management Analyst), and CMT (Chartered Market Technician). Different organizations provide these credentials and to get them, you must meet specific qualifications including passing examinations. Top Financial Industry Jobs Wall Street employers include investment banks and securities firms. Investment banks work with clients to issue stocks and bonds, collectively called securities. Securities firms sell them or trade them on the market. If you want a Wall Street Job, here are some from which to choose Investment Banker An investm ent banker, sometimes called an investment underwriter, serves as the matchmaker between a business that needs money to operate and investors who have an interest in providing that funding. He or she advises these companies as they issue stocks and bonds for sale to the public. An investment banker also connects companies that want to merge with or acquire another company. This is called mergers and acquisitions or M A. Required EducationBachelors Degree in a business-related subject for entry-level jobs and an MBA for advancement Median Annual Salary (2017)$139,451 (Average Base Salary, Glassdoor.com) Bonuses Number of People Employed (2016)376,000 (includes all type of securities, commodities, and financial services sales Agents) Projected Employment (2026) 399,000 Projected Increase in Jobs (2016-2026) 6 percent Stock Traderor Stock Broker Stock traders and brokers bothfacilitate transactions of stocks- equity in businesses- on behalf of investors. Traders sell stocks they or the securities or brokerage firm for which they work own. Their goal is tomake a profit. Brokers arrange the sale and purchase of stocks between buyers and sellers for a commission. Required EducationBachelors Degree. Business, finance, accounting, and economics courses are recommended. Median Annual Salary (2017)$63,780 Number of People Employed (2016)376,000(includes securities, commodities, and financial services sales agents) Projected Employment (2026)399,000 Projected Increase in Jobs (2016-2026) 6 percent Financial Examiner A financial examiner makes sure banks and other financial institutions comply with the laws that govern them. Required EducationBachelors Degree with courses in finance, economics, and accounting preferred Median Annual Salary (2017)$81,690 Number of People Employed (2016)52,500 Projected Employment (2026)57,600 Projected Increase in Jobs (2016-2026) 10 percent Financial Analyst Alternatively called an investment or security analyst, a financial analyst helps his or her employer or its clients develop investment strategies. He or she gathers facts about a products, industrys, or companys current and historic performance and makes investment recommendations based on this data. Required EducationBachelors Degree in Statistics, Mathematics, Accounting, Finance, or Economics Median Annual Salary (2017)$100,180 Number of People Employed (2016) 71,000 Projected Employment (2026) 79,000 Projected Increase in Jobs (2016-2026) 11 percent Fund Manager A fund manager coordinates the investment strategy for a large pool of assets called a fund. He or she may manage hedge, mutual, trust, or pension funds. Some financial analysts become fund managers. Required EducationMBA Median Annual Salary (2017)$105,610 Number of People Employed (2016)992,000 Projected Employment (2026) Over 1 million Projected Increase in Jobs (2016-2026) 5 to 9 percent Sources Bureau of Labor Statistics, U.S. Department of Labor,Occupational Outlook Handbook. Employment and Training Administration, U.S. Department of Labor,O*NETOnline.Granville, Christina. Broker or Trader Which Career Is Right For You?. Investopedia. February 20, 2018.Fund Manager. Investopedia.