The Finance Career

Ignore talks of you being “money-minded”. The finance sector is the big wheel of the Singapore economy - driving economic growth at a rapid pace and bringing prosperity to the country at a scale unseen by other industries. Contrary to popular belief, the finance sector boasts more than just a lucrative salary, but also of its diverse roles that promises a place for a variety of individuals of different skill sets.

How to be a Finance warrior

The finance sector is notorious for having crazy competition. Before you let out a sigh of disappointment, here’s a rosier news: In Singapore’s bid to secure it’s financial hub status, the government aims to create 3,000 net jobs in financial services and an additional 1,000 net jobs in the fintech sector annually. It’s an industry full of potential you don’t want to miss!

Here’s how to be part of the action. As much as the industry values exceptional academic grades (which isn’t exactly rare these days), there are some skills that are crucial in clinching a seat in the hot industry. Accounting knowledge and Data analytical skills are two most sought-after skill sets that almost always accompany a successful finance career. Communication skills, people skills and a clear understanding of the specific marketplaces are the other skill sets employers in the industry want to see.

Discovering the diverse world of Finance

1. Corporate Finance

In corporate finance, you will be in charge of devising financial strategies for companies. Be prepared to master the art of finding the sweet spot between maximising corporate goals while minimising financial risks.

2. Commercial banking

Commercial banking includes a range of financial services in commercial banks and careers here include bank tellers, loan officers and branch officers.

3. Investment Banking

An Investment banking career is one of the most sought-after careers in the finance industry. Word of caution, this career is not for the faint-hearted. You will be juggling the facilitation of corporate securities and providing financial advice to top management and powerful investors.

4. Private Equity and Venture Capital

In private equity, you will help to find capital for business expansion and maintain current operations while venture capitalists seek investment opportunities for fast-growing startups.

5. Hedge funds

Hedge...hog? Don’t be fooled by how this sounds. Hedge funds refer to private capital set aside for investment. The careers that manage these funds hold a prestige envied by many. Some prominent roles include financial analysts, traders and quantitative analysts.

6. Insurance

Despite the stigma associated with insurance due to black sheeps in the industry, careers in the insurance sector are crucial for businesses and individuals. More people are understanding the importance of protecting themselves from potential risks. When promoted and sold the right way, these safety nets serve true value and can save many from unexpected consequences.

Hermawan Indrapraja