You can earn big in the finance sector

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Do you want to earn a sizeable salary one day? Then the banking and finance sector is the place for you.

According to a 2019 report released earlier in the year by recruitment firm, Michael Page the banking and finance sector featured at the top of the salary spectrum.

In the report group CFO'S, finance directors and financial controllers were rated as the highest earners.

More recently a salary benchmarking survey by Giraffe, an automated recruitment platform confirmed that finance remained the best choice for a solid income.

"Banking and IT pay some of the highest salaries but employ only 8% of the working population," the company said.

Do you have staying power?

According to a Compdata survey, the banking and finance industry has an 18 percent turn over rate, which is one of the highest in comparison to other industries.

Millennials in particular are said to move in and out of the sector quickly despite the lucrative opportunities available in finance. This could account for the low employment rate in the industry.

According to the experts only those who are willing to do the time will reap the rewards later on.

Entering the market

Bcom Degree

For students wanting to enter the finance sector a BCom degree is a good starting point.

It can prepare you for any number of financial areas according to your selected major.

This type of qualification is typically completed over four years at a university.

Private Training

If you are thinking of changing careers start with a short course through a private training provider.

You can learn about financial principles, risk management and many other foundational practices as you move into this profitable field.

Find finance programmes here

Banking Jobs

If you don't have a higher education and can't afford to study right away there are other options.

Entry level banking jobs are a popular choice for Matriculants or people with a basic education.

For example a bank teller position generally requires a high school certificate, basic computer skills and some experience handling cash.

There are many ways to break into the finance sector but sticking it out will require a lot of sacrifice and hard work if you hope to see the financial rewards.

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